Updated 7:21pm 8 February 2012:

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Graeme King

Graeme King

Burberry to axe almost 300 jobs

Luxury clothing brand Burberry said today that it was cutting up to 300 UK jobs and closing one of its factories.Read

Banks drag the FTSE down

A further loss of confidence in the banking sector dragged the FTSE 100 Index down 5% today in a grim day for stock markets worldwide.Read

City ready to invest in its passion for sport

PLANS for a £130m sports village next to the Stadium of Light in Sunderland have been launched by regeneration company Sunderland Arc.Read

Pub operators pulling plug on competition

ONE of the UK’s biggest pub operators has revealed it is selling off under- performing outlets without their licences in a bid to protect its other operations.Read

Rare problem solved by ingenuity and craft

RAPID progress is now being seen on the construction of the Haymarket Hub building at the top of Northumberland Street in Newcastle with scaffolding being removed this week.Read

Authority: Derwentside District Council

Ward: Ebchester & MedomsleyRead

£10m plan to turn derelict land into dynamic hub

REGENERATION specialist St Modwen has announced its plans for two former glassworks sites in Sunderland.Read

Marathon hearing has cleared up valuation issues

BEFORE Christmas, the House of Lords denied landlords the right to claim ‘hope value’ when tenants bought out their leaseholds under the right to buy legislation.Read

Take close look at cost of roof over your head

BUSINESSES in the North East will need to cut costs radically if they are to keep pace with the challenging economic environment in 2009 and if you haven’t already thought about the cost of your property, then do so now.Read

Downturn is bringing great opportunities

GOODBYE to 2008 and good riddance to a dismal year in the financial markets. Values in commercial property have come down by between 30-40% from their peak in July 2007 as the commercial property market has been at the forefront of the implications of the credit crunch.Read

Developers looking for hotel operators to check in

THE developers of the Baltic Business Quarter in Gateshead have begun a search for an operator to sign up for a major hotel on the prestigious scheme.Read

THE UK’s leading share index fell yesterday with financial stocks dropping sharply ahead of the lifting of restrictions on short selling on Monday.

Royal Bank of Scotland tumbled 3.9p to 51.3p, Lloyds TSB lost 7.7p to 133p and HBOS fell 3.1p to 81p. The FTSE 100 closed the day down 27.04 points at 4,399.15.Read

Barratt hit by house sales data

A FIFTH straight day of share declines saw the FTSE 100 Index of leading UK companies fall 27.04 points to 4399.15.Read

Shopping scheme rejected

PLANS to convert a former garage site into a shopping complex have been rejected by South Tyneside Council.Read

Bank covenants breached but Utopian 'comfortable'

BAR and restaurant operator Utopian Leisure has revealed it breached its banking covenants in the last year, but is still continuing to trade and will soon open a new outlet.Read

Nissan will cut 1,200 jobs

CAR group Nissan last night sent shockwaves through the North East by axing 1,200 jobs at the country’s biggest and most productive car plant.Read

Wellstream

Production up 25% at oil pipeline firm

OIL and gas pipeline business Wellstream has set out a positive outlook for the year after a challenging close to 2008 when falling oil prices spooked some nervous investors.Read

Brakes go on after 25 years of achievement

THE Nissan plant in Sunderland was in the vanguard of Japanese motor manufacturers arriving in the UK to service the European marketplace.Read

Property deals tipped to beat the recession

THE head of a North East property business has unveiled plans to expand his interest in reversionary freeholds – rights to property after a lease has ended – expanding his estate from a value of £12m to £20m.Read

Help for retailers as rents fall for first time in 15 years

RETAIL rents are reported to have fallen for the first time in 15 years during 2008 and according to one report will not return to growth until 2013.Read

Author Profile

Graeme King is a business reporter for The Journal covering stories across the spectrum of North East business, as well as recently developing a specialism in commercial property. He joined the paper in 2001 as a news reporter before moving to the business desk a year later, having started his career on a weekly community paper in Leeds.

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