Co-operative Bank reports £87m loss but mortgage completions reach highest quarterly level for five years November 6, 2018 The Co-operative Bank reported a pre-tax loss of £87m in the first nine months of the year but had its best quarter for mortgage completions in five years. The bank posted a third quarter profit of £14.3m – a marked improvement on the £25m loss over the same period the previous year – as it [...]
The corporate bond market is set for a record year — but also a dangerous and dysfunctional one August 26, 2020 2020 is going to be a record year for the corporate bonds market. New issue investment grade volume in the first half of the year exceeded $2.5 trillion. Records are also being broken in high-yield junk debt, despite a rising corporate default rate. Last week, the US primary market broke through $1.3 trillion of new [...]
Truss won’t be the first or the last to U-turn, but she taught us how not to do it October 20, 2022 It has been less than four weeks since the disastrous mini-budget, followed by a series of screeching U-turns in government policy. It’s made for sickeningly compelling viewing, partly because most of us have, at times, experienced our own shocking about-turns and forced mea culpas. We can all relate. And the next 12 months look likely [...]
London developer Galliard invests £500m in new Birmingham homes October 15, 2018 London property developer Galliard has embarked on a £500m joint venture project in Birmingham amid efforts to expand beyond the capital’s subdued housing market. In its first Midlands project, Galliard has purchased a portfolio of new developments in partnership with regional developer Apsley House Capital, in a bid to tap into Birmingham’s growing popularity among young couples and first-time buyers. [...]
Relocation, relocation, relocation: Cheaper houses lure record number of Londoners north August 27, 2018 The rate at which Londoners are quitting the capital’s housing market to relocate up north has more than tripled in the last decade, according to research from estate agent Hamptons International. Around 21 per cent of Londoners who left the capital in the first six months of the year moved to the Midlands and north [...]
Housebuilder Persimmon profits top £1bn as it names new CEO February 26, 2019 Persimmon made £1.1bn in profits in 2018, the housebuilder confirmed today, as it named a new chief executive. Dave Jenkinson, the finance officer who has been acting chief executive since its former boss left under a cloud over his bonus last year, will take on the role permanently, Persimmon confirmed. Read more: Is Persimmon’s success [...]
Department store chain Beales falls into administration January 20, 2020 Department store chain Beales has entered administration this morning, putting more than 1,000 jobs at risk. The retailer had been in crisis talks with potential buyers in a bid to stave off a collapse, however the company was unable to secure a deal. Professional services firm KPMG has been appointed as administrator, and the firm’s [...]
Derby County takeover: Buyer Chris Kirchner exchanges contracts on deal for football club May 17, 2022 Prospective Derby County owner Chris Kirchner says he has exchanged contracts on a takeover of the football club. Kirchner has been locked in talks for months with administrators, stadium owner Mel Morris and the English Football League over a deal. If completed, the transaction would bring to an end the crisis at one of the [...]
Sales tick up as pre-Brexit buying spree gives summer boost to housing market August 19, 2019 Househunters hoping to lock in a deal ahead of the government’s Brexit deadline have driven a surprise buying spree this summer, giving life to the property market’s quietest season of the year. Agreed house sales in August rose 6.1 per cent from the same month in 2018, rising to the highest level at this time [...]
Stamp duty keeps pensioners sitting tight as housebuilding giant calls for tax exemption August 28, 2018 More than a fifth of pensioners would consider moving house if stamp duty was abolished, according to new research which suggests the property tax is hampering housing market activity. In a YouGov poll out today, 22 per cent of adults over 65 said they would be more likely to move if there was a stamp [...]