Britain needs an industrial house-building revolution to tackle housing market failure January 14, 2016 The world is moving from uncertainty to instability. Economic, political and social “flashpoints” include the United States, EU, China, North Korea and the Middle East. While the UK has sensible economic goals – 2.5 per cent growth, 2 per cent inflation, £1 trillion of exports by 2020 and improved public finances – progress is mixed. [...]
Costly coal and lower US steel prices leave ArcelorMittal braced for weak fourth quarter November 8, 2016 The world's largest steelmaker, ArcelorMittal, has warned low US steel prices and a recent rally in the price of coal will weigh on its profits in the fourth quarter. The figures Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 40 per cent to $1.9bn (£1.5bn) at the global steelmaker in the quarter ended 30 September. However, [...]
London property: Four in five Londoners think house prices are too expensive, ING says October 14, 2015 More than 80 per cent of Londoners think house prices are too expensive and overwhelming majority believe it is becoming increasingly difficult for first-time buyers to get a foot onto the property ladder, according to new research released today. The Dutch banking giant ING’s house price optimism index, which surveys over 15,000 people, found that the [...]
House prices: UK outpaced London as prime central property prices dropped last year January 14, 2016 House prices in central London fell by 8.7 per cent last year as higher stamp duty bills hit demand for £1.5m-plus homes, new research shows. Estate agents Your Move and Reeds Rains said prices dropped sharply in the capital’s five most expensive boroughs, dragging the annual rate of growth in London to 5.6 per cent, [...]
From Southern rail’s backfiring poster to Google’s April Fool prank gone wrong: Six of the most memorable business blunders of 2016 January 1, 2017 2016 has been an interesting year to say the least. There has of course been a plethora of notable political events over the past 12 months, but there’s also been plenty going on in the business world. With that in mind, here are some of the most memorable company clangers from over the year – from [...]
Barratt share price jumps as housebuilder posts “excellent” first half January 13, 2016 Another day, another housebuilder smugly proving the property sector is where it's at these days. But one analyst was still cautious… The figures The company said it completed 7,626 homes in the six months to the end of December, 9.4 per cent more than last year. The company was receiving 0.66 net private reservations per active site each week – up from [...]
Less than 10 per cent of savings providers are offering the Help to Buy Isa – with just 12 on board so far December 2, 2015 The Help to Buy Isa launched without much ceremony yesterday – so no wonder the number of savings providers offering the scheme, which provides a government bonus for first-time buyers, is being seen as a bit of a let-down. Research from Savings Champion suggests just 12 lenders have so far go on board with the government scheme, [...]
London’s housing problem doesn’t need another government scheme: It’s time to slaughter sacred green belt cow – The City View October 7, 2015 During his time at 10 Downing Street, David Cameron has presided over a number of deeply complex attempts at helping Generation Rent climb the first rung of the housing ladder. NewBuy came first, guaranteeing 95 per cent mortgages for first-time buyers on new-build properties. That was followed by Help-to-Buys one and two: respectively, equity loans [...]
Terra Firma boss Guy Hands on buying Agent Provocateur, dyslexia and moving on from multi-million EMI loss February 27, 2017 In June last year, Terra Firma dropped a £1.5bn lawsuit against Citi over the acquisition of EMI. It is reported that Guy took a €200m (£168m) hit to his personal fortune as a result of the deal. The Terra Firma boss alleged that Citi misled him into overpaying for the music publisher in 2007. How’s [...]
A tale of two cities: Sales of London new-build homes have plunged as sky-high prices put off buyers August 15, 2016 New research suggested sales of new-build homes in London have almost halved – despite the fact the city is in the grip of a housing crisis. Research by London Central Portfolio (LCP) using figures from the Land Registry has shown only 1,491 new-builds in inner London have been sold so far in 2016 – 43 per cent [...]