High interest rates continue to weigh on the UK housing market, forcing developer Berkeley to halt investments in new projects from May through August. The Cobham-based builder now plans to only invest “very selectively” in land opportunities, focusing on its existing pipeline to deliver a pretax return on equity of 15% through the cycle.
-- High interest rates continue to weigh on the UK housing market, forcing developer Berkeley to halt investments in new projects from May through August. The Cobham-based builder now plans to only invest “very selectively” in land opportunities, focusing on its existing pipeline to deliver a pretax return on equity of 15% through the cycle.Heathrow Airport Ltd.
Berkeley Group Holdings Plc: The homebuilder reiterated its profit before tax guidance of at least £1.05 billion across the current and next financial years.Petershill Partners Plc: The investment firm cut its full-year outlook for partner fee related earnings to $190 million-$210 million from $220 million-$250 million, citing the “tough” economic environment.
Prime Minister Rishi Sunak plans to host on Nov. 20 a summit for countries hit by rising food prices due to Russia’s war in Ukraine. The proposal comes days after Russian President Vladimir Putin said he wouldn’t revive a deal that had safeguarded the passage of Ukrainian grain through the Black Sea.Eli Lilly & Co.’s Mounjaro, a diabetes drug that’s also nearing approval for weight loss, is set to reach UK patients after winning the backing of England’s influential health-cost regulator.
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