News in brief: Sainsbury’s set to win bank control, Crest sees property recovery in South, Telecity ‘solid’ as new sites opened

p57 A colleague moves trolleys in the car park of Sainsbury's new Kings Lynn supermarket, one of the retailer's most energy efficient stores on 21 November in Kings Lynn, England. The 72,000sq ft store has created over 400 new jobs for local people and opens on the day Sainsbury's reveals findings that shopping lists, better meal planning and rising expectations signal new fashioned values of post-crunch shoppers. KING'S LYNN, ENGLAND - NOVEMBER 21: (Photo by Matthew Lloyd/Matthew Lloyd/getty Images for Sainsbury's) Photographer: Matthew Lloyd, Copyright: GETTY IMAGES

getty

7 May 2013

Sainsbury’s is poised to take full control of its bank as it seeks to ramp up the range of financial services products it offers.

The supermarket chain today confirmed it is in “advanced negotiations” with Lloyds Banking Group to acquire the remaining 50% of the banking joint venture it established 16 years ago. Sainsbury’s could unveil the deal as soon as tomorrow when it is expected to post an increase in full-year profits to £750 million.

Crest sees property recovery in South

Recently floated housebuilder Crest Nicholson today cheered the property market by saying conditions in the southern half of England, where the majority of its sites are located, are “increasingly favourable”.

Completions rose by 9% during the six months to April and chief executive Stephen Stone said the Government’s Help to Buy scheme should lift demand. The shares gave up 1.5p to 317p.

Telecity ‘solid’ as new sites opened

Data centres group Telecity today hailed a “very positive” start to year thanks to new sites opening in London and Helsinki.

Chief executive Michael Tobin said demand from corporate clients for “premium highly connected data” storage continues to rise in the digital age and Telecity has “solid order book growth”. He singled out Turkey as the next major data hub after buying Istanbul-based Sadence for £25 million.