Finance News – Page 244
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NewsCurrie & Brown board takes 25% pay cut
Company cuts employee wages by an average of 8% to remain competitive in downturn
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NewsMcCarthy & Stone gets nod for £800m debt deal
Debt-for-equity swap will see 60 senior lenders take control of the firm
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NewsGrafton Group profit plummets 78%
Net debt down by a quarter as chairman vows to focus on cost control
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NewsLloyds announces £10.8bn HBOS loss
Troubled bank hit by 11.9% bad loans as owner Lloyds' profit plummets 80%
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NewsBanks most likely to cut overdrafts at construction firms
Report reveals that 44% of construction and property firms have had overdrafts cut compared to 34% UK average
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NewsBarratt bank covenants safe – unless there’s a meltdown
Housebuilder is confident it will not break agreements on £1.4bn debt as sales edge upwards
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NewsOut of credit: how the banks took away the industry’s overdrafts
As a new report reveals that construction has had more credit withdrawn than any other sector, Tom Bill looks at the likely consequences
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NewsCofton directors seek to put firm into administration
Contractor and developer falls as Castlemore and KW Linfoot also go under
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News
Massive writedown drives Minerva into the red
Developer posts £186m interim loss after revaluation slices £187m off portfolio value
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NewsBerkeley launches £50m share issue to buy land
Housebuilder to spend £300m on land purchases, partly funded by its recently doubled cash reserves
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NewsWhite Young Green warns of covenant breach risk
Consultant in talks with lenders as net debt rises 30% amid poor market conditions
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NewsMJ Gleeson reports £24m half-year loss as 60% of staff cut
Urban regeneration specialist announces gloomy interim results in housing market 'worst in living memory'
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NewsPublic work boosts Kier construction division
Half-year results show 43% fall in group profit but construction division bucks the trend with 21% rise
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NewsBarratt posts £592m loss and cuts 29% of staff
Housebuilder cut staff by 29% over last six months of 2008 during an 'intensely difficult' period
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NewsPublic work boosts profit at Morgan Sindall
Contractor reports 15% rise in full-year profit on back of increased public work but warns of 'challenging' year ahead
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NewsRedrow staff halved as firm heads into the red
Housebuilder reports first-half loss of £46.2m and reveals it has shed 50% of its staff in a year
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NewsWaterman turnover rises 12% after job cuts
Engineer reports slight fall in profit but says recent redundancies will save £9m a year
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NewsPersimmon: 'No bonuses for 2008'
Housebuilder has revealed that top executives will not get bonuses after targets were not hit
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NewsSaint-Gobain and Lafarge plan €1.5bn rights issues
French materials giants both turn to investors for cash boost following sharp downturn in markets