Karen Day
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Asda reports worst sales drop ever
Sales at Asda fell by 7.5% on a like-for-like basis in Q2, outpacing the prior quarter’s 5.7% fall and its largest sales drop ever.
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Retail sales beat expectations
Retail sales proved resilient in the wake of the vote to leave the European Union, rising by 1.4% on the month and 5.9% on the year in July.
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Brexit vote hits Norway sovereign wealth fund returns
Norway’s sovereign wealth fund has cut the value of its UK real estate portfolio by 5% following the UK vote to leave the European Union.
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Shares in Savills rise on broker report
Shares in Savills rose sharply after Citigroup upgraded the stock to buy and raised its target price to 815p.
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Leigh-on-Sea tops index of happiest places to live
Leigh-on-Sea in Essex has taken the top spot in Rightmove’s Happy at Home index.
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L&G invests in California campus expansion
L&G is investing $100m in expanding the University of California’s Merced County campus, its first such investment in the US.
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Losses narrow at Balfour Beatty
Balfour Beatty reported a pretax loss of £21m in H1, narrowing sharply from the year-earlier period’s £150m loss.
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Sales rise at London pubs and restaurants
Like-for-like sales at UK pubs and restaurants rose by 0.3% on the year in July.
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UK economy to avoid recession
The UK economy will slow down but a recession will be avoided, according to forecasts by ratings firm Moody’s.
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House prices up 8.7% in June
House prices rose in June, the month of the European Union referendum, figures from the Office for National Statistics showed.
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Commercial property crisis could see lenders lose £12bn
The UK’s six largest lenders could lose £12bn in the event of a crisis within the country’s commercial property market, research by rating firm Moody’s shows.
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Rentplus gets £20m in funding
Rentplus has secured £20m in funding from Crestline, with the option of an additional £20m after two years.