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DR Horton narrows loss as orders surge
DR Horton, the second biggest homebuilder in the US, sees its losses narrow in the latest quarter as house orders surged, but says market conditions remain challenging
VW green light for Porsche tie-up
Volkswagen’s supervisory board gave the go-ahead for the takeover of Porsche and agreed on a €25.8bn three-year investment programme
Chemring raises $280m to help fund deals
The military decoy and pyrotechnic device group has placed $280m of loan notes with institutional investors, giving it renewed firepower for further acquisitions
New house builds climb
The number of homes being built has risen to its highest level for more than a year
European groups set ambitious growth targets
Large European companies are putting a big emphasis on emerging markets for their growth strategies as they look to follow the lead of ABB, the electrical engineering group
Mitsubishi Chemical bids $2.4bn for former division
Japan’s biggest chemicals manufacturer offers $2.4bn to acquire acrylic resin maker Mitsubishi Rayon, a former division spun off from the parent company in 1950
Capita sees rate of outsourcing slowing
UK’s largest support services group insists there was no let-up in the trend for businesses to outsource back office jobs, but the shares fell amid concerns over slowing rate of contract wins
UK Mail lifts profits
The postal and parcel delivery company has seen some uplift in business as consumers sought alternatives to Royal Mail’s service, but revenues fell as the recession dragged on demand
Wolseley continues to see ‘tough’ markets
The building materials group continues to experience ‘extremely tough’ market conditions as it reported falling revenues and a rise in net debt to £1.2m for the three months to November
Bovis Homes upbeat
The Kent-based housebuilder says the number of private reservations has risen by 83% this year. It expects to see a gradual improvement of the housing market
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