UK Business Property - RSS FeedCommercial Property NewsPub closures are inreasing say BBPA - predicting 43,000 sector job losses over next 5 years- September 17, 2008 Britain's cash-strapped pubs groups, faced with the toughest trading conditions for years, look set to accelerate pub closures as the government turns the screws and presses ahead with planned tax rises.The British Beer and Pub Association (BBhttp://www.ukbusinessproperty.co.uk/news/article/957 Barclays up and HBOS & Bank of Ireland down as sentiments shift- September 17, 2008 Following the loss of investor confidence, mirrored in it's plunging share price yesterday Fitch Ratings has downgraded HBOS Plc. and main operating unit Bank of Scotland Plc., citing heightened concerns over the outlook for core parts of HBOS's retail anhttp://www.ukbusinessproperty.co.uk/news/article/956 AIG rescued by the Fed- September 17, 2008 American International Group staved off collapse yesterday after the U.S. Federal Reserve Bank of New York agreed to lend up to $85 billion to the cash-strapped insurer over two years at stiff rates in exchange for a 79.9% equity stake. A change at the hehttp://www.ukbusinessproperty.co.uk/news/article/955 LloydsTSB in advanced talks to takeover HBOS- September 17, 2008 LloydsTSB is in merger talks with domestic rival HBOS to create a £28 billion mortgage giant, a person familiar with the matter said today.News of the talks surfaced after shares in HBOS, Britain's biggest home lender, were battered forhttp://www.ukbusinessproperty.co.uk/news/article/958 Hurstwood Developments goes bust- September 16, 2008 Bolton-based property group Hurstwood has placed two more of its businesses into administration. Hurstwood Developments and Hurstwood Facilities Management have suffered the same fate as Hurstwood Construction, which was placed into administrahttp://www.ukbusinessproperty.co.uk/news/article/951 Bank shares plummet as LIBOR soars despite massive BoE Support.- September 16, 2008 Central Banks have stepped in to support the banking industry as liquidity evaporates following the crisis yesterday. The Bank of England injected £20 billion today, after five billion on Monday. Demand was three times the amount of extra liquidityhttp://www.ukbusinessproperty.co.uk/news/article/954 Bradford & Bingley gets further downgraded by Moody's- September 16, 2008 Bradford & Bingley plc has been further downgraded by Moody's Investors Service on a range of assets and the overall financial strength rating falls to D from C-, in a move which will make the struggling banks position increasingly untenable, gihttp://www.ukbusinessproperty.co.uk/news/article/953 Berkeley Group say past 4 months house sales are down 50% on the average for the period- September 16, 2008 Housebuilder and construction company Berkeley Group Holdings Plc said sales since the start of May are 50% below average, but in line with expectations for the first six months and the year.Berkeley said today it is confident of being able mahttp://www.ukbusinessproperty.co.uk/news/article/952 Lehman files for Chapter 11 bankruptcy while Bank of America buys Merill Lynch for $50 billion- September 15, 2008 It has been a Black Weekend on Wall Street as Lehman Brothers has filed for Chapter 11 bankruptcy after US Government officials and top Wall Street bankers held talks yesterday in an effort to sell Lehman Brothers Holdings Inc. and avoid a collapse ofhttp://www.ukbusinessproperty.co.uk/news/article/948 Shares in Canary Wharf hit by Lehman bankruptcy- September 15, 2008 Songbird Estates , the AIM-listed majority owner of the Canary Wharf business district, sinks 9% following news that tenant Lehman Brothers has filed for Chapter 11 bankruptcy protection.Songbird’s “B class” shares trade at 1http://www.ukbusinessproperty.co.uk/news/article/949 |