Finance News – Page 269
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Pidgley defends £31m bonus
Tony Pidgley, Berkeley Group’s chief executive, has defended his decision to award himself a £31m bonus amid one of the housebuilding sector’s worst fortnights in recent years.
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Chase Norton forced to sack 107 after financial troubles
Chase Norton Construction has made 107 of its 123 staff redundant after falling into administration last week.
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Babcock reveals £3.8bn order book
Engineering firm in confident mood after recent contract wins worth £800m
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Council construction workers threaten strike action
Unions to ballot workers over restrictions to public-sector pay increases
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NewsBarratt shares jump on bank deal
Housebuilder close to refinancing deal as it confirms 1,200 jobs will go
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NewsBalfour Beatty reaches financial close on £150m BSF scheme
Contractor seals deal on phase one of Islington's school rebuilding programme
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NewsInterserve group to build £200m Thames Gateway water scheme
Contractors named to build east London desalination plant accused of being a pollutant
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NewsRedrow slashes more jobs and closes two offices
Housebuilder responds to market collapse as reservations fall 55% over past six months
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NewsBovis Homes cuts workforce by 40%
Housebuilder announces more job cuts as completions fall 35% in first half of year
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Mortgage lending in May down 44%
Council of Mortgage Lenders says lending levels significantly lower than last year's figures
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NewsConnaught rides high in social housing market
Contractor's full-year results to be on target, with a booming order book this year
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NewsBalfour Beatty on board for £300m rail contract in Malaysia
Contractor’s share of joint venture work on Malaysian rail extension expected to be worth £160m
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NewsCredit crunch has spread to Europe, warns Savills
Financial squeeze now affecting many European markets, according to property consultants
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NewsPersimmon cuts 2,000 jobs as sales slump 31%
Housebuilder confirms redundancies as it reveals 31% lower sales and a 45% fall in reservations in first six months
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NewsTony Pidgley to receive £31m bonus package
Berkeley boss and three other directors are rumoured to have awarded themselves shares worth a total £60m
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NewsCity Lofts goes into administration
Developer becomes most high-profile casualty of the credit crunch
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NewsHousebuilders to issue gloomy trading updates
Persimmon, Bovis Homes, Redrow and Barratt to report disappointing figures to the City this week
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Berkeley still strong despite property slump
Berkeley Group is continuing to lead the rest of the UK housebuilding industry, according to the latest housebuilding profitability figures from BDO Stoy Hayward, writes Tom Bill.
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NewsChinese contractor goes all out to meet global goals
African and Middle Eastern economies provide platform for China State Construction’s expansion
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NewsCyril Sweett acquisition paves way for Asian expansion
Cyril Sweett is planning to expand into south-east Asia after its £5m acquisition of Burn Bridge Holdings in April.