Economy Blog » Construction

Barratt reports huge losses

admin — Wed, 25 Feb 2009 17:43:09 +0000

Barratt Developments are one of the major players within the construction industry, so it was very likely from the start that they would find them selves in major financial difficulty throughout the credit crunch.
That has been confimed when their £194m profit last year turned into a £600m loss for the last financial year.

Barrat reports huge losses

UK housebuilder Barratt Developments has reported a loss of almost £600m in the second half of 2008 after having to write down the value of land it owns.
It saw a pre-tax loss of £592.4m, down from a £192.4m profit a year earlier.

Anthea Turner sells mansion

admin — Mon, 23 Feb 2009 19:48:32 +0000

Although it is extremely unfortunate that they managed to loose over £100 million the credit crunch, to get them selves back on track they just need to accept and move on!
As they have suggested there are 1,000’s of people in a similar position.

Anthea Turner sells mansion

Former TV golden girl Anthea Turner and husband Grant Bovey have been forced to sell their £5million country home after the couple lost £100million in the credit crunch.
The 57-acre property has been put up for sale with Hamptons International.

Current recessions; worst in 100 years!

admin — Tue, 17 Feb 2009 17:19:56 +0000

The financial crisis that we currently find ourselves caught up in is being described by people as high up as Gordon Brown’s senior ministers, as the worst recession in the last 100 years.
Of course, by stating that, they are suggesting the current recession is overkill compared with the 1930’s depression.

Current recessions; worst in 100 years!

Britain is facing its worst financial crisis for more than a century, surpassing even the Great Depression of the 1930s, one of Gordon Brown’s most senior ministers and confidants has admitted.
In an extraordinary admission about the severity of the economic downturn, Ed Balls even predicted that its effects would still be felt 15 years from now. The Schools Secretary’s comments carry added weight because he is a former chief economic adviser to the Treasury and regarded as one of the Prime Ministers’s closest allies.

Move to the seaside and the council will pay

admin — Tue, 17 Feb 2009 17:19:14 +0000

Its an interesting idea, but what is the actually benefit for the council and why should council homes so big and expensive be allocated in the fast paced cities anyway.
London is extremely expensive, so if people are not able or can’t be bothered to work, they should live in a slightly cheaper area to start with.

Move to the seaside and the council will pay

When Paul Watson, 38, was given a choice between staying in his cramped northwest London flat and moving to a new home at the seaside, there was little contest. The air in Great Yarmouth was cleaner, the people were friendlier and the cost of living was far lower. But the clinching factor was Harrow Council’s willingness to fund his move.
Mr Watson said yesterday: “They paid my first month’s rent, deposit and removal costs, which came to about £3,000. I couldn’t have afforded to do it myself. I picked the property that I wanted and the council sorted everything out. Now I’m a five-minute walk to the beach and people actually stop and say hello to you on the street.”

New prison worth over £17m

admin — Sat, 07 Feb 2009 16:28:02 +0000

Not exactly the best of properties to be landing on your doorstep, but nevertheless, the prison will now help out over 500 people secure full time work.

New prison worth over £17m

A decision to site a new Welsh prison in Gwynedd is being welcomed as one of the largest investment projects in the region for a decade.
The jail on the former Ferodo brake factory near Caernarfon will be able to hold 1,000 inmates, and is estimated to be worth millions to the economy.