Business news in brief: Edinburgh airport | Inchcape | Glenigan Index | Dignity

Published on 01/08/2012 03:13

GLOBAL Infrastructure Partners (GIP), owner of Edinburgh and Gatwick airports, has raised about $7.5 billion (£4.7bn) for its second infrastructure fund.

GIP, founded in 2006 with backing from General Electric and Credit Suisse Group, raised $5.6bn for its first infrastructure fund, targeting assets in the transport, energy, utilities and waste sectors.

Mixed picture for construction

Declining activity in the social housing sector is hampering the UK construction sector’s recovery, according to research published today.

The latest Glenigan Index shows overall activity dipped 1 per cent in the three months to July as social housing work fell 22 per cent because of public sector cut-backs.

Tchenguiz hits out at fraud agency

Robert Tchenguiz, the property magnate at the heart of a bungled investigation by Britain’s fraud-busting agency, said yesterday he would seek damages and bring proceedings against the Serious Fraud Office for his arrest last year.

Tchenguiz and his brother Vincent were arrested in March 2011 as part of an investigation into their dealings with Icelandic bank Kaupthing before its 2008 collapse.

Inchcape feeds off appetite for luxury

Car dealership group Inchcape has benefited from strong growth in the premium and luxury markets in the UK and emerging countries.

Sales rose 7 per cent to £3.1 billion in the six months to 30 June, while underlying operating profits lifted 10 per cent to £138.4 million.

Dignity benefits from grave business

The UK’s largest provider of funeral-related services yesterday said a higher number of deaths in the first half of the year helped it deliver a strong performance.

Dignity, which owns 616 funeral locations and operates 36 crematoria, said initial estimated deaths in the UK in the six months to 29 June were up 1 per cent at 285,000.