Business News

Giving you the latest business information.

The financial regulator has cracked down on controversial sale and rent back deals that target distressed homeowners

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Foreign buyers snap up London office space

Purchases come as sovereign wealth funds and cash-rich individuals seek stable assets amid the uncertainty in the global financial markets

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Tech groups take up slack in central London

Gaps created by downsizing of financial services sector has created a surge in demand from IT, telecoms and internet start-ups

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Nationwide reports 0.2% house price dip

UK house prices slipped in January according to a closely watched index, building a picture of sluggish house price growth overall

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US Reits are drawn to subprime securities

Real estate investment trusts are attracted by high yields relative to low borrowing costs, with many aided by rising share prices

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Greek asset sales behind target

Greece will struggle to meet its target for assets sales even by the delayed deadline of 2017, according to the country’s privatisation adviser

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Nama sells iconic London cinema

The Irish body is pushing ahead with the sale of high profile assets in a bid to shed almost €74bn of toxic property loans

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British Land signs accord to build HQ for UBS

British Land has announced an agreement to develop a 700,000 sq ft building to be the Swiss bank’s European headquarters

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Fewer cranes add to signs of slowing economy

The number of large construction projects in the UK, as measured by the number of tower cranes in operation, has fallen

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Pfizer enters talks to sell Sandwich R&D site

The US pharmaceutical company has agreed to maintain 650 employees on its flagship centre which has been operating since the 1950s

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Talent show finalist’s businesses probed

The business affairs of a former finalist on the television show Britain’s Got Talent are being probed following the collapse of a property investment scheme

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Prime areas prop up London prices

Data show the so-called ‘London effect’, whereby residential properties in the capital defy weakness elsewhere, is down to rising prices in a handful of areas

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Interactive map: London house prices

This interactive map shows average London prices by postcode and how these have changed since their 2007 peak and over the past decade

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California spurns $15bn in mortgage aid

Bank of America, Wells Fargo and JPMorgan Chase offered help to the state’s borrowers to settle allegations of mortgage-related misdeeds

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Tchenguiz to sell 250,000 freeholds for £3bn

Portfolio is tied to houses and apartments across the UK, including 15,000 homes in London and its sale is being targeted at sovereign wealth funds

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Treasury Holdings’ fight over receivers

The Irish property company is challenging a decision on assets linked to €2bn in loans aquired by the National Asset management Agency

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Retailers pushing for rental revolution

High street chains, including Clinton Cards and Sports Direct, are shifting from paying shop rent every three months to a monthly basis

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Safestore helped by increase in home rentals

Self storage company Safestore reports a fall in pre-tax profits but groups is helped by a strong house rental market

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Ireland unveils insolvency reforms

Dublin has announced measures aimed at tackling a growing mortgage debt crisis and curbing ‘bankruptcy tourism’ to the UK

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Projects boost Abu Dhabi property shares

Emirate’s government approves construction programmes including the airport extension and the Louvre and Guggenheim museums

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