Chinese approach pension fund over Potash bid

first_imgFriday 3 September 2010 2:37 am whatsapp John Dunne whatsapp Chinese investors have approached a Canadian pension fund about a possible rival bid for the fertiliser giant Potash Corporation.Alberta Investment Management said it was not interested in a rival bid and did not name the investors involved.But the approach provides further evidence that the Chinese are trying to derail a $40bn (£25.8bn) hostile takeover bid for Potash from Anglo-Australian mining giant BHP Billiton.Potash is mined and used for fertiliser production and China is seeking to ensure that it can secure the resource at the right price. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proofcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Show Comments ▼ Chinese approach pension fund over Potash bid Share Tags: NULLlast_img read more

Foster’s rejects £1.6bn bid for wine business

first_img Share Wednesday 8 September 2010 2:46 am More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan Foster’s rejects £1.6bn bid for wine business John Dunne center_img whatsapp Foster’s Group, Australia’s largest brewer, knocked back a private equity offer worth up to $2.5bn (£1.6bn) for its wine business as too cheap, but the approach could spark offers for the entire group.The unexpected bid for the world’s second-largest wine business pushed Foster’s shares up six per cent on hopes of better offers for wine, or that suitors for the beer unit will now step forward. The combined group has a market value of about $11bn.Investors have been focussing on potential buyers for the more lucrative beer business, which is seen as a cash cow with some of the highest profit margins in the brewing world.The ailing wine business, with vineyards from California’s Napa Valley to the Hunter Valley near Sydney, had been seen as the unwanted child and Foster’s said on Wednesday it would continue to work on splitting the beer and wine units.Sales of Foster’s wine, including Beringer, Penfolds and Wolf Blass, have been hit by a deep US recession and a trend away from low-end, bulk wines in Australia. The strong Aussie dollar has also been a drag, slashing the value of US earnings.“This puts the whole company in play. If you are one of the big brewers, you probably didn’t want to be saddled with a wine business you didn’t understand or want,” said Tom Elliott, managing director of hedge fund MM&E Capital.“Now you know there are potential buyers out there, you can make a bid for the whole company knowing that you can offload the wine business to private equity or someone else,” he said.Foster’s shares closed up 4.5 per cent at A$6.34. Show Comments ▼ whatsapp Tags: NULLlast_img read more

Vodafone sells stake in China Mobile for £4.2bn

first_img Share Vodafone sells stake in China Mobile for £4.2bn by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Show Comments ▼ whatsappcenter_img Tags: NULL John Dunne Wednesday 8 September 2010 2:26 am Vodafone has made $6.5bn (£4.2bn) in cash following the sale of its 3.2 per cent stake in China’s biggest wireless operator, China Mobile.The buyers of the stake have not been identified.The 643m shares, listed on the Hong Kong stock exchange, were offered at a 3.4 per cent discount to the market price. whatsapplast_img read more

Boston Red Sox bid for Liverpool

first_img whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com Tags: NULL whatsapp Show Comments ▼ Share Tuesday 5 October 2010 8:34 pm Boston Red Sox bid for Liverpool KCS-content Liverpool has received two new takeover bids – one from Asia and the other from the owners of the Boston Red Sox, New England Sports Ventures – but the football club’s American owners Tom Hicks and George Gillett Jr. are trying to block the other board members from pursuing negotiations. Both bidders are understood to be offering about £300m – enough to cover around £280m in loan and fees owed to Royal Bank of Scotland. Both initial offers were rejected. last_img read more

Commerzbankmisses target as losses leap

first_img Tags: NULL Commerzbankmisses target as losses leap Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Germany’s second-biggest lender Commerzbank missed forecasts for third-quarter profit yesterday as losses on commercial mortgages and the costs of integrating Dresdner Bank offset strong corporate lending.Third-quarter net profit of €113m (£97.5m) was below the €164m average estimate in a analyst’s poll, though Germany’s economic rebound turned it round from a loss of more than €1bn a year ago.Banks around the world have posted mixed third-quarter results, with large profits at JP Morgan and Goldman Sachs contrasting with losses at Deutsche Bank and Bank of America. Commerzbank saw a more benign risk environment than a year ago, leading to lower loan-loss provisions.Germany has emerged from its deepest post-war recession and is staging in a strong export-fuelled recovery, which analysts say remains on track despite a slump in September industry orders.“We continue to see Commerzbank as the restructuring story in the European banking market which should benefit most from the recovery of the German economy,” said Equinet analyst Philipp Haessler, who has an “accumulate” rating on the stock.Commerzbank capitalised on strong business in the third quarter at its Mittelstandsbank unit, which focuses on lending to medium-sized German companies. Yet the lender provided a 2010 outlook below market expectations, saying it expects net profit of at least €1bn, against the average analyst estimate of €1.3bn. “The outlook for 2010 is rather disappointing in our view,” said DZ Bank analyst Matthias Duerr. “Compared with a net profit after nine months of €1.17bn, this could suggest a loss in the fourth quarter in our view, which clearly would be disappointing.” Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img whatsapp whatsapp Monday 8 November 2010 9:38 pm KCS-content Sharelast_img read more

New non-exec for Lloyds

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney VersedZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp New non-exec for Lloyds Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsappcenter_img KCS-content Show Comments ▼ LLOYDS has added a new non-executive director to its board, with current-Victrex chair Anita Frew joining from 1 December. Victrex is a FTSE 200 manufacturing firm, but Frew also has experience in investment and banking from her time at the Royal Bank of Scotland and through her non-executive position at Aberdeen Asset Management. Her appointment will be voted on at the bank’s next annual general meeting.The announcement came as Centrica chair Roger Carr spoke last night on the importance of increasing the number of women on the boards of major British companies.“It cannot be right that today in the FTSE 100, women occupy only 12.2 per cent of board seats,” he said to a City audience at the ISCA Hermes transparency in governance awards, adding that “boards are intellectually and socially enriched by the presence of women”.Also recently the City has seen the launch of The 30 per cent Club, which aspires to make the boards of major UK firms 30 per cent female by 2015. Tuesday 16 November 2010 8:42 pm Tags: NULLlast_img read more

Treasury to sell down AIG stock

first_img The Treasury plans to sell about one-fifth of insurer AIG through a stock offering in the first half of 2011, an important test of the governmen’s ability to profitably exit one of its most controversial bailouts. AIG and the Treasury would both sell stock in the offering, which could total $10bn to $15bn, sources said. That would place it among the largest secondary share offerings in history. AIG got a $182.3bn taxpayer-funded aid package during the financial crisis. An offering could come as early as March, but details have not yet been decided. Analysts said the proposed sale of 20 per cent of the company was a cautious first step toward yanking the insurer off government life support. KCS-content Show Comments ▼ Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailWomenTales.com20 Pieces of Clothing Older Women should AviodWomenTales.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldWork from Home | Search AdWork From Home for a USA company Might Be More Fun Than You ThinkWork from Home | Search AdRoofing Services | Search AdRoof replacement costs 2021 Roofing Services | Search AdFlight 10Secret Car Features Most Don’t Realize Their Car Is HidingFlight 10GardensTricks.comThis House Looks Small But Look Inside!GardensTricks.com Wednesday 8 December 2010 9:11 pmcenter_img Treasury to sell down AIG stock whatsapp Share whatsapp Tags: NULLlast_img read more

Maybank in $1.4bn move for Kim Eng

first_img whatsapp KCS-content Maybank in $1.4bn move for Kim Eng MAYBANK, Malaysia’s largest lender by assets, is snapping up Singapore broker Kim Eng Holdings for $1.4bn (£893m), in a move to strengthen its grip on the regional stockbroking industry and diversify the lender’s source of overseas revenue.Maybank will pay 3.10 Singaporean dollars per share for a 44.6 per cent stake in the broker, before launching a mandatory offer for its entire operations on completion. The banking group has said it plans to privatise Kim Eng, which the acquisition has priced at 1.91 times its book value at the end of September 2010. Maybank chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said that the transaction was “a great leap forward” for the group, with Kim Eng offering an “immediate platform to aggressively build up our global wholesale banking capabilities in Asean and beyond”. Maybank, which was previously linked with another regional brokerage OSK Holdings, said it has no plans for further acquisitions in this business.Maybank’s shares gained 2.74 per cent during trading yesterday, closing at 6.00 Malaysian ringits (MYR) on Bursa Malaysia, while Kim Eng closed 2.66 per cent up at 2.77 ringits.Shares in Thailand’s Kim Eng Securities surged as much as 11.9 per cent on news of the planned acquisition of its Singapore parent.The acquisition comes as Southeast Asian markets are on a roll, with Thailand and Indonesia ranking as the best performing major markets in Asia last year. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Thursday 6 January 2011 7:23 pm whatsapp Share Show Comments ▼ Tags: NULLlast_img read more

US mood rises despite house prices falling

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share US mood rises despite house prices falling whatsapp HOUSE prices in the US fell for a fifth consecutive month in November, a well regarded survey revealed yesterday.However, there was better news for the US recovery as official data showed consumer confidence hitting a seven-month high in January.The US Conference Board said its index of consumer sentiment jumped to 60.6 this month, from 53.3 in December.However, despite improving economic news, a double-dip in home prices could be confirmed by spring, according to the Standard & Poor’s/ Case-Shiller index, which measures single family house prices in 20 American cities. The index fell by half a per cent in November, following a one per cent drop in October. While disappointing for the housing market, the drop was less than expected by many economists.Sixteen out of the twenty cities recorded a drop in November, with the biggest falls in Detroit (-2.3 per cent), Atlanta (-1.7 per cent) and Chicago (-1.6 per cent).Another survey released yesterday, the FHFA index, recorded month-on-month price stagnation in November. Yet prices fell by 4.3 per cent compared to November 2009, it said.“We expect softness to persist in the near term as home prices continue to face headwinds from the large pipeline of foreclosures entering the market,” commented Theresa Chen of Barclays Capital. “However, we expect some of the decline to be offset by increased housing demand.”Prices were 1.6 per cent lower than in November 2009.“While prices held a bit better than expected, they are only 1.2 per cent above their crisis low in May 2009, before the homebuyer tax credit started to distort sales and prices,” said ING senior economist Teunis Brosens.“In eight of the 20 cities, prices are even below the spring 2009 level,” he said.In spring last year many buyers rushed to beat the end of the homebuyer tax credit. After the surge, demand collapsed, Brosens said. “The housing bubble has left scars that will remain visible for years,” he said. KCS-content whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ Tuesday 25 January 2011 9:00 pm Tags: NULLlast_img read more

Demand for London office space jumps

first_imgMonday 14 February 2011 8:40 pm Tags: NULL whatsapp KCS-content Demand for London office space jumps Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap whatsapp OPTIMISM about the UK commercial property market is at its highest level since the onset of the credit crunch, thanks to a rebound in demand for central London offices, according to the Royal Institute of Chartered Surveyors (RICS).In the fourth quarter, 18 per cent per cent more surveyors said they expected new sales and lettings to increase rather than fall in the next three months, up from eight per cent in the third quarter. This is the highest reading since the onset of the credit crunch in the first quarter of 2007.And more businesses appear to be planning to expand, after eight per cent more surveyors reported a rise in occupier enquiries in the fourth quarter, compared to a balance of -22 per cent in the three months previously. Tenant demand for commercial property stabilised overall in the fourth quarter, RICS said, with a net balance of zero against -6 per cent in the earlier quarter. Demand for office space was strongest, with a net balance of zero surveyors reporting available space – the lowest number since the fourth quarter of 2007. In central London, 42 per cent more surveyors recorded an increase in demand rather than a fall, up from 25 per cent in the third quarter. However, empty space continued to tick up in the industrial and retail sectors, with a balance of +5 per cent and +4 per cent respectively. But even as demand stabilises, the outlook for rents is poor. Though the outlook for London offices is more positive, retail rents are expected to decline in all regions of the UK, while industrial rents are expected to decline everywhere but London and the South East.Overall, seven per cent more surveyors said they expected rents to fall rather than rise. The expectations are that rents will continue to decline in the Midlands, North and South, while they are expected to rise in London. Share Show Comments ▼last_img read more