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UGL CIMIC makes $525m australia news
 
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Construction and engineering business CIMIC has made a $524.5 million takeover bid for engineering contractor UGL, as UGL's shares have plummeted on the back of a downturn in mining. Key points: CIMIC, formerly Leighton Holdings, launches $3.15 per share offer for UGL Deal values UGL at $524.5 million UGL shares up nearly 50pc around midday to $3.17; shares peaked at $9.44 in 2007 The offer, at $3.15 per share, is a 47.2 per cent premium to UGL's share market close of $2.14 on October 7. "CIMIC believes UGL's competencies are complementary to CIMIC's existing operations or enhance CIMIC's capabilities in new activities," the company, formerly known as Leighton Holdings, said in a statement. UGL peaked at $9.44 a share in 2007, but has since suffered a beating on the back of falling commodity prices and a downturn in mining. CIMIC currently owns 13.8 per cent of the company. In June, UGL's share price plummeted after it announced delays, disruptions and cost blowouts on the $US34 billion Ichthys LNG joint venture in Darwin. In a statement to the ASX, UGL said its board would meet to consider the offer and provide further advice to shareholders. "In the meantime, the board of UGL recommends that shareholders take no action in relation to the CIMIC announcement," UGL's statement said. UGL sold its property business DTZ to a private equity-led group of investors including TPG Capital and PAG Asia Capital in 2014. UGL shares surged 48.6 per cent to $3.17 in midday trade on the offer, its highest price since early June and its biggest one-day jump since listing.
Video Job Ads -  Place Estate Agents - recruitment
 
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Place Estate Agents are a highly regarded, award-winning real estate company seeking a brilliant residential Property Manager who wants to forge a rewarding career! As a renowned innovator in the Brisbane real estate industry, Place is the first private company to offer buyers a 'one office, multiple locations' approach. It has grown to become Brisbane's premier inner suburbs agency, cementing our ability to provide complete market coverage. Regardless of which Place office you walk into, you can discuss any Place property for sale no matter where it's listed. Continuing to pave the way in real estate, Place continues to build on our reputation as Queensland's most dynamic, innovative and progressive real estate firm. We look forward to remaining ahead of the competition and delivering the best for you! Your ability to take ownership of your portfolio and provide a professional level of service to your owners and tenants is critical. On offer is a long term, self-sustaining career opportunity. You will have full admin support, ongoing property management training, a family friendly office and a management team that want to help you continue to love property management! www.eplace.com.au www.videojobads.com.au
Views: 309 Video Job Ads
Minelab GPZ 7000 Field Test and Review
 
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Gerry and his team take out the new Minelab GPX-7000 to hunt for gold in Nevada! The GPZ 7000 is Minelab’s Newest Gold Machine for 2015. This detector is the next flagship gold detector based on new ZVT technology that developed by Minelab that will dramatically improve detector performance beyond all other gold detectors. As we get time, we'll be doing an in depth test and video with more accurate details and info, so please stay tuned.
Views: 106211 Gerrys Detectors
Pride's Wan Says Beijing, Shanghai Property Demand `Low'
 
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March 9 (Bloomberg) -- Lewis Wan, chief investment officer at Pride Investment Group Ltd., talks about the outlook for China's property market. He speaks with Bloomberg's Linzie Janis from Hong Kong.
Views: 116 Bloomberg
Noida Based BPO Cyfuture files police complaint against Ringing Bells
 
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Noida-based BPO Cyfuture has filed a police complaint against Ringing Bells Pvt. Ltd. alleging fraud and non-payment of dues, and have sought Rs eighty lakhs from the makers of the smartphone priced at Rs 251. Apart from the police compliant, Cyfuture will file a separate defamation case "worth crores" against the handset maker, alleging an attempt to tarnish the company's image in the market, Anuj Bairathi, founder and CEO of the BPO told ET. Mohit Goel, managing director of Ringing Bells, countered, saying the call center company has been "threatening them with police complaints and legal cases", without giving a chance for an amicable solution. "We have registered a complaint against Ringing Bells... Gautam Budh Nagar Superintendent of Police said that the FIR will be registered shortly," Cyfuture's Bairathi said. -~-~~-~~~-~~-~- Please watch: "Apple Launches Repair Programme For iPhone 7" https://www.youtube.com/watch?v=glU_BqOgXYA -~-~~-~~~-~~-~-
Views: 413 MyPhone
The Final Banner
 
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John Corcoran, lobbyist and campaigner for real "market rents" for Irish commercial property tenants, has erected another and this time a final banner above his shoe shop at number 47 Grafton Street in Dublin. John has been leading the charge against the imposition of what he refers to as "Feudal Leases" in Ireland still, despite the previous government banning such outrageous clauses in all future commercial lease contracts going forward, effective from March 2010 onward. Unfortunately, virtually all commercial tenants in Ireland signed contracts before this date so are trapped in their existing lease structures which incorporate the now infamous "Rental Ratchet" (or more commonly referred to as Upward-Only Rent Reviews or UORR). This ratchet means that rents only ever rise or stay the same (although the latter was virtually unheard of until recently). A direct consequence of this, is that, those leases that experienced super-normal rent rises during the universally acknowledged Irish property bubble era (recent estimates suggest that average Dublin retail rents for instance, were ratcheted up +270% in the decade from 1996-2006, whilst the general price level or CPI inflation rose by an accumulated +30%, over the same time period, leaving a spurious legacy of boom time rents today during a period of unprecedented austerity. Meanwhile many Irish firms continue to go to the wall, because they can adjust wages & salaries, but not one of their biggest costs, namely; rent. For many tenants in the Irish Retail Sector, rent is often greater than salaries e.g. the 900 square foot Korky's shoe shop in Grafton Street has to pay just under half a million euros annually in rents plus rates (445k rent + 50k rates to DCC), equivalent to the salaries of 15 x shop workers, whereas in fact this store employs just 5 staff, therefore rent is 3x more than the gross wages & employers taxes. In total, John employs more than 50 staff across 6 stores in Dublin and Cork. Next month, in May, John will appear in front of the High Court in his legal challenge to the excessive rent demanded by his landlord Canada Life Assurance, who in 2005 ratcheted-up his annual rent from 211,000 euros to 445,000 euros per annum. That's right, they more than doubled it. Why? Because they thought they could get away with it at the time. If John loses his case, the consequences will be dire for all 50 employees. He does not wish to end up like Ken and Ben Peat who were forced recently to close all of their stores and enter into examinership, effectively ending a family business. This is why John is fighting the good fight, so vigorously. There are many small to medium sized enterprises (SMEs) out there who are presently fighting to survive and retain their staff, who are also resisting the imposition of excessive rental demands, especially from 'Institutional' landlords. It has to be said, there is a world of difference between the private or professional (often family-run) landlords, who have assisted their tenants by lowering rents, in some cases by as much as one-third, so these smaller landlords are really not the problem. They are also more active in terms of running their shopping centres, industrial estates or office buildings and are consequently less likely to rely on the services of the big firms of Chartered Surveyors. On the other hand the large institutional landlords (e.g. Insurance Companies, Pension Funds and Life Funds) do rely upon the "professional experts" who got the Boom-Bust so badly wrong, and they pay these guys handsomely for their services. Thus the 'vested-interest' parties (including their buddies in the news print media, many of whom are also landlords in their own personal capacity), resist lobbyists for justice like John (who has real skin in the game) so vehemently. Their over-inflated egos & salaries are on the line here. However, there is a bigger picture 'national' issue here at stake, and that is one of competitiveness, both internationally and domestically. Think about it not just in employment terms (even though the Retail & Distributive Trades Sector employs 281,000 people, as big today as the Construction Sector was during the halcyon days of the property bubble), but in terms of what you the 'Consumer' have to pay for all goods and services. All of the firms and individuals that you interact with on a day-to-day basis, whether it is a tradesman, shopkeeper, office worker etc., and do business with, will have to charge you more for their products and services, just to pay their higher rents. Accordingly, it is you the consumer, who ultimately pays the price for excessive rents (or you pay through less choice as your local business disappears).
Views: 1619 Dr.D