Walkie Scorchie architect admits his building emits death rays September 8, 2013 THE ARCHITECT responsible for the Walkie Scorchie skyscraper – previously known as 20 Fenchurch Street – has finally broken cover and admitted that his building has a few issues with reflecting light. Rafael Vinoly kept quiet in the immediate aftermath of City A.M.’s world exclusive that a light beam has melted cars parked nearby. But [...]
Watchdog says Universal Credit introduction was too ambitious September 4, 2013 THE GOVERNMENT has not achieved good value for money in the implementation of its flagship Universal Credit welfare reform, according to a report released today by the spending watchdog. The National Audit Office said the programme – which will see many existing benefits combined into a single payment – has been over-ambitious and could not justify the [...]
What the other papers say this morning – 28 August 2013 August 27, 2013 FINANCIAL TIMES Nationwide to buy back securities Nationwide, the UK’s biggest building society, has launched an offer to buy back up to £715m in bond-like instruments in an drive to shore up its capital base after a multibillion pound shortfall. Following demands by regulators to boost its capital ratio, Nationwide has put out a tender [...]
Borrowers set for small cut in interest rates September 29, 2013 MORTGAGE borrowers who use the government’s new guarantee scheme could see interest rates fall by up to one percentage point, City A.M. understands. Banks lending under the scheme will have to pay the government a fee for each mortgage given out, a cost that will be passed on to borrowers. But the fee will only [...]
Credit doubles as Britons go on a debt binge October 31, 2013 London leads a boom in house prices that threatens to spiral out of control CONSUMER credit is rising twice as fast as previously thought, the Bank of England admitted yesterday, raising new concerns over a bubble in lending. The borrowing splurge means households borrowed an extra £864m on credit cards and via other unsecured loans [...]
How to grow a business from a bean January 26, 2014 Annabel Palmer talks student life and staple diets with James Eder, founder of marketing firm The Beans Group IN THE age-old debate over whether entrepreneurship is innate or can be taught, James Eder – founder of The Beans Group – makes a strong case for the former. At 13, he and his brother Michael created [...]
America is slashing spending – but its economy is still growing November 20, 2013 IF you want to see what real austerity looks like, take a trip to the US. Real federal spending is set to slump by six per cent in the fourth quarter, compared with the same period a year ago, according to Goldman Sachs. That is a massive reduction, more than George Osborne wants to push [...]
Have a right royal time in Fergie’s former apartment October 24, 2013 Sarah Ferguson’s old flat in Battersea, where she reputedly entertained Princess Di, goes on sale for £1m CAST yourself back to London in 1985 at the height of Thatcher’s reign, ill-judged perms and Dead or Alive’s music career. Partying away in a two bedroom flat around the corner from Clapham Junction and the Battersea Arts [...]
London Report: House prices set for high point as market surges October 6, 2013 HOUSE prices will be in the spotlight today, as the Royal Institution of Chartered Surveyors (RICS) house price index is released and the Help To Buy scheme kicks off nationally. Last month saw a seven-year high for the survey, leading RICS to call on the Bank of England to cap house price inflation at five [...]
Iain Duncan Smith’s disability reforms delayed as system buckles under pressure October 25, 2013 Iain Duncan Smith's flagship disability benefits reforms will now be implemented at a much slower pace because the reassessment system is struggling to cope with the strain placed on it by a test group of claimants, City A.M. has learned. The decision has been made just days before tens of thousands of people were due [...]