Finance News – Page 303
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NewsMorgan Sindall buys Amec's ailing construction business
Contractor spends £26m on Amec's regeneration and construction arms and will integrate the 2800-strong building division into its own business
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NewsBalfour Beatty wins £140m Islington schools contract
Contractor gains preferred bidder status on the London council's Building Schools for the Future programme
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ISG buys Commtech Asia for £1.2m
Interior Services Group acquires technical consultancy firm Commtech Asia as part of expansion strategy
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NewsMcBains Cooper regroups for regional growth push
Consultant forms three divisional boards and announces revamp of northern arm
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NewsCurrie & Brown loses BSF head
Consultant Currie & Brown is to lose its Building Schools for the Future (BSF) head in the third director-level departure from its PFI team in a month.
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Renew’s profit leaps 72%
Renew, the contractor formerly named Montpellier, has reported a 72% rise in interim profit after a restructuring.
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Accounts reveal scale of problems at Wembley subcontractor
Pre-tax profit at Wembley M&E contractor Phoenix Electrical fell 60% in 2006, its penultimate year on the stadium, according to figures published this week.
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Erinaceous jumps 7% after Tchenguiz approach
Erinaceous saw its share price climb 7% this week as a takeover approach from Vincent Tchenguiz, brother of the Iranian millionaire Robert, signalled a potential bidding war over the property services company.
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Change at Wolseley
Wolseley has announced that the chief executive of its US building materials business, Fenton Hord, will retire from the board on 31 July.
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NewsSpeedy Hire profit jumps 18%
Health and safety laws and supply chain improvements are boosting business says chairman
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NewsRenew reveals 72% rise in interim profits
Restructured business brings strong results for new specialist building and specialist engineering divisions
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NewsSteve Morgan buys Wolves but Sir Jack becomes life president
Sir Jack Hayward will remain life president of Wolverhampton Wanderers despite selling club to Redrow founder Steve Morgan
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NewsMitie report 12% rise in pre-tax profit
Turnover up 30.3% to £1.3bn with solid growth in engineering, facilities and property services
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NewsUnclaimed assets to fund 700 new community centres
Gordon Brown set to announce that unclaimed assets worth £300m will be reinvested in new youth and art centres
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NewsSainsbury's report 42% rise in pre-tax profits
Half of supermarket's £8.6bn property portfolio will be refurbished over the next three years
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NewsGerman cement company ponders swoop on Hanson
Shares in materials giant rise 25% as HeidelbergCement considers formal approach
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NewsFoster sells minority stake
Private equity firm 3i set to buy ‘less than 50%’ share of practice valuing the firm at about £350m
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Changes to the Construction Act delayed until next year
The review of the Construction Act faces further delays, which will prevent it from becoming law until early next year.
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NewsInterest rates rise to 5.5%
The Bank of England increases the cost of borrowing to the highest level since 2001
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Investors cautious after Spanish housing crash
BAA owner Ferrovial is among contractors that could suffer knock-on effects from market fall