Land Securities, the UK's largest property company, has shelved plans to demerge the business because of the 'unprecedented period of financial instability'...
...The announcement came as the company reported that adjusted diluted net asset value per share, a key performance measure, fell 20.7% to £15.52 in the six months to September 30 following the value of Land Securities' properties plunging by £1.72bn - The Daily Telegraph
Minerva, the property developer, saw almost a fifth wiped off the value of its shares on Wednesday after a broker downgrade added fresh uncertainty to the future of its development pipeline. The company’s share price fell to 9½p at close, down 18.8% on the day and almost 95% over 12 months, taking its market capitalisation to just £19M ($28M) - The Financial Times
Britain's biggest brickmakers have laid off more than 1,200 workers and started to send home hundreds more on a temporary basis as the housing crisis takes its toll on the supplies sector. Hanson has axed 600 staff as it permanently closed two plants, mothballed two others and plans to either halt output for three months or take out shifts at four – The Guardian
Britain would not have bid to host the 2012 Olympics if the Government had known a recession was approaching, the minister in charge of the London Games has admitted. Tessa Jowell made the admission to leisure industry bosses at a dinner in London - The Daily Telegraph
A JCB digger stolen in Durham has been recovered in the Netherlands after police followed it around Europe by using its satellite tracking device. The new £50,000 machine travelled thousands of miles before it was found, journeying across England before resurfacing in the Netherlands and then going to Germany and back - The Times
A supergrid of power supplies to protect Europe's energy from the threat of a Russian stranglehold will be announced today. The building blocks of the proposed supergrid would be new cables linking North Sea wind farms, and a network patching together the disparate electricity grids of the Baltic region and the countries bordering the Mediterranean, according to a blueprint drawn up by the European Commission and seen by The Times - The Times