UK house prices see first September fall for nine years September 16, 2019 UK house prices have witnessed their first September fall since 2010, according to a closely-watched gauge, as Brexit uncertainty continues to dampen sales. The average price of property coming to market fell by 0.2 per cent in September, the house price index from real estate website Rightmove showed. “As we approach yet another Brexit deadline, [...]
More than 5,000 retail jobs at risk as pandemic forces John Lewis and Boots to restructure July 9, 2020 More than 5,000 high street jobs could be lost as two UK retail giants announced store closures today after the coronavirus pandemic forced John Lewis and Boots to urgently restructure their businesses. John Lewis has decided not to reopen eight stores after the coronavirus lockdown, saying the sites were struggling before the pandemic. The proposed [...]
Consumer law firm Taylor Rose buys rival McMillan Williams in pre-pack deal amid High Street law coronavirus struggles May 20, 2020 Consumer law firm Taylor Rose has bought struggling rival McMillan Williams in a pre-pack administration deal in what could be an early sign of an expected wave of consolidation in the High Street legal sector. Law Society president Simon Davis warned earlier this month that more than 70 per cent of High Street firms may [...]
An F-Shaped recovery – How Freelancers are powering Britain’s brilliant bounce-back July 7, 2020 This wasn’t just any ordinary crisis – the financial hit the UK has taken from COVID-19 has been shorter, sharper, and deeper than any we’ve seen before. According to the Resolution Foundation, the mere seven working days of lockdown in the first three months of 2020 gave the UK it’s biggest quarterly economic contraction since [...]
Mike Ashley in talks to sell Newcastle United for £340m January 26, 2020 Retail tycoon Mike Ashley is in talks to sell Newcastle United football club to a consortium including Saudi Arabia’s sovereign wealth fund for £340m. The billionaire owner of Sports Direct – recently renamed Frasers Group – bought Newcastle United in 2007 but is now in talks with a group led by British financier Amanda Staveley [...]
Falling London house prices hit Foxtons’ revenue October 31, 2019 London estate agent Foxtons reported falling sales revenue in the third quarter as house prices in the capital took a hit. Sales revenue slumped 15 per cent to £8.4m, down from £9.9m as ongoing political uncertainty led to lower volumes, falling prices and fewer high value sales. Read more: Foxtons chair steps down after turbulent [...]
UK housing market stable despite political uncertainty, says Taylor Wimpey January 14, 2020 Housebuilding firm Taylor Wimpey said the housing market remained stable last year, despite ongoing economic and political uncertainty. In a trading update this morning the company said that conditions were more challenging in London and the South East but demand for homes remained strong in the face of uncertainty caused by Brexit. Read more: New [...]
Escalating coronavirus cases drag down European stocks February 21, 2020 The FTSE 100 fell today as European stocks slipped into the red on news that coronavirus cases outside of mainland China are escalating. London’s blue-chip index dropped 0.63 per cent in early trading to leave the FTSE 100 at 7,390 points. European stocks also retreated into the red. Germany’s Dax dipped 0.2 per cent while [...]
Real Estate: COVID-19 may permanently quarantine inflexible leases May 5, 2020 Real estate leases have long represented a point of disagreement between accountants and financial analysts. This disagreement was the primary reason why the London-headquartered International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) went separate ways in finalising lease accounting standards. Figure 1. Lease Accounting Survey Report (October 2013) For a [...]
WPP leads FTSE 100 risers with surprise return to growth October 25, 2019 WPP led the FTSE 100 risers today as its shares climbed after it posted a surprise return to growth in the third quarter. WPP’s share price rose above six per cent to 971.2p after revealing revenue climbed 5.2 per cent to £3.29bn. Read more: Sainsbury’s heir to the throne quits to join WPP Like-for-like sales [...]