Plus property tycoon arrested on foreign currency and porn charges in Zimbabwe

Wind turbines project jeopardised

Wind farm plans for the island of Lewis in Scotland are fragile, as Scottish ministers are likely to turn them down according to a report on Independent on Saturday's front page. Some had already expressed opposition to plans on environmental grounds.

Britons own 2 million second homes as parents buy for children

Two million people now own a second home with the market fuelled by parents buying properties for their children, the Daily Telegraph reported on Saturday. Five per cent of the adult population owns a family home and at least one other property, according to the Office for National Statistic’s Wealth and Assets Survey.

Property tycoon Nicholas van Hoogstraten arrested

Van Hoogstraten was arrested in Zimbabwe on grounds of levying rents on properties he owns in foreign currency and illegally dealing in foreign currency. He is also facing charges of possessing pornography according to the Independent on Sunday.

Analysis: Is it time to stop investing in commercial property?

The Independent advises to seek professional financial consultation on commercial property investments, given the current market circumstances.

Wind farms turn huge profit with help of subsidies

Rising electricity prices and high green subsidies mean that wind turbines have turned into a real money-spinner, reported the Sunday Times. According to their report a single turbine costs £2m to make, will pay for itself in five years and then produce nothing but profit. This combined with government subsidies could see the number of wind farms more than double in the next few years.

BAA may run out of cash, warns bank

BAA need to complete delayed financing or sell assets to prevent it from running out of money next year, according to investment bank JP Morgan. Analyst Robert Crimes claimed that the airports group could run out of cash in Q1-2, 2009, a Sunday Times article reported.