Finance News – Page 272
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NewsBarratt shares soar 25% after lender agreement
City reacts positively to news of agreements as shares rise across housebuilding sector
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Lend Lease to scrap Bovis’ final salary pension scheme
Bovis employees face loss of generous pension after parent company demands cost-cutting
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NewsBanks throw beleaguered Barratt a financial lifeline
Company’s lenders grant housebuilder reprieve as other refinancing options are ruled out
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Now credit crunch hits architects, too
Architects have become the latest group to be hit by the credit crunch, with two major firms making redundancies and a number of others freezing recruitment, writes Dan Stewart.
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NewsClare fights to keep job as Barratt holds crisis talks with banks
Housebuilder’s boss’ record comes under scrutiny
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NewsCreditors ask government to act on Cotswoldgate
Out-of-pocket subcontractors demand action against backer Aurelian after administrator fails to place Cotswoldgate in liquidation
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NewsMortgage lending falls by a fifth
May figures show remortgage sector strong demonstrating market resilience
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NewsMouchel performance in line with expectations
Engineer says its third-quarter figures are as forecast, with demand remaining strong
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NewsTaylor Wimpey in payment row
Housebuilder accused by subcontractors of delaying payments to boost cash position ahead of results
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Taylor Woodrow restructures after two executives leave
Departures of Douglas Weston and Gerald Slack prompt board reshuffle
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NewsCredit crunch bites 11% off profits at Aukett Fitzroy Robinson
Profits suffer in UK property market but turnover leaps 20% on back of architect's expanding activity in Russia and Middle East
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NewsConstruction Products Association forecasts 27% drop in housing starts
Latest forecast predicts just 147,000 housing starts in 2008 and overall construction output to fall 1.3%
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Rogue builder forced into liquidation
Midland Construction wound up after leaving behind “trail of destruction”
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NewsCarillion reclassifies on Stock Exchange
Contractor ceases to trade under heavy construction and begins operating as support services business, following purchase of Alfred McAlpine
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Small firms plan job cuts as fuel costs rise
Federation of Small Businesses demands government action on fuel duty as 40% of small firms warn of impending staff cuts this year
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NewsHousebuilder McCarthy & Stone acts urgently on debt
Housing market difficulties force emergency meeting with bankers Rothschild to discuss ways to restructure debt
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News£133m Croudace sale collapses at last minute
Economic climate blamed as bidder pulls out of year-long talks for South-east housebuilder
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NewsBritspace denies sale rumours
Offsite construction specialist Britspace is up for sale for an estimated £12m, according to industry sources
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Fit-out specialist Ibex Interiors prospers in sub-£2m market
Fit-out specialist Ibex Interiors is increasingly competing for work against larger players at the sub-£2m end of the market as the credit crunch continues.
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Crest figures down 13%
Housebuilder Crest Nicholson has posted a 13% drop in pre-tax profit from £80.1m to £69.7m in the year ended 31 October 2007.