Banks share pain of the property crisis
Article Abstract:
The enormous downturn in the property markets which have hit developers such as Olympia and York, Heron and Speyhawk has also greatly affected the banks who have lent around 40 billion pounds sterling to UK property firms. The fact that banks usually only lend a fraction of the value of property means that the fall in value has got to be very appreciable before the value becomes lower than the security required by the bank. Loans are also made against tenanted properties whose values remain much steadier. However, if things continue to remain depressed the banks may feel more pain than they have to date.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Threat to 2,500 jobs as Rolls ditches Parsons
Article Abstract:
Rolls Royce is disposing of Parsons Power Generation Systems (Newcastle, UK), which makes engines, which could mean 2,500 job losses. According to an unnamed economic analyst, there may be no firm wanting to acquire Parsons. The Rolls Royce Group, which made a pre-tax profti of 175 million pounds sterling in 1995, will write off 248 million pounds sterling to dispose of Parsons, and has surprised analysts by the plan.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Last rounds of the regeneration game. Left to his own devices. Focus of attention
- Abstracts: Memories are made of this. The lives of Nora Ephron. On no! It's raining on our miracle
- Abstracts: Failure under the hammer. The direct route to beating recession
- Abstracts: Muddy secrets of the Humber. The path of least resistance. Mutated genes on toast for breakfast
- Abstracts: Healing hands reach out to credibility. Decline in jobs reflects Britain's lean years