Cost of buying first home in London more than doubles over last half century June 26, 2021 Today’s first-time-buyers in London have to pay two and a half times as much for their first home as they did five decades ago, according to new research. A report published by the Resolution Foundation today shows the cost of purchasing a first home with a mortgage in the capital was £212,000 in 1974 – [...]
Net profits: Andy Murray on life as an entrepreneur and investor, his new sports drink venture and why he’ll focus more on business after tennis June 25, 2021 Sportswear entrepreneur Tom Beahon can remember one of his first meetings with Andy Murray, at the 2019 Australian Open. “Andy was in his hotel room, watching a Djokovic match, making notes on which side of the service box Novak was serving to just in case he played him in that tournament,” recalls Beahon, whose company, [...]
Investors should have a duty to investigate links to modern slavery June 25, 2021 While slavery might sound like an egregious crime of the past it is still commonplace in modern society. It is a crime that exploits and dehumanises individuals and sees them as property to be bought, sold or traded. While it is prevalent, it is not public, and across the world acts of modern slavery take [...]
Record number of homes selling for the asking price or above June 25, 2021 A record number of homes that completed in January 2021 sold for their asking price or above, and those that didn’t missed the mark by only a small amount. More than a third (37%) of homes in England and Wales achieved their asking price or more in January 2021, while those that didn’t achieved on [...]
FTSE 100 jumps as investors digest Bank of England rate decision June 24, 2021 The FTSE 100 climbed this afternoon as investors digested the Bank of England’s decision to hold rates at a record low. The capital’s premier index gained 0.56 per cent in afternoon trading to reach 7,113. A weaker pound helped to the lift the export-heavy blue chip index. Food delivery company Just Eat gained 2.19 per [...]
Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]
EU ambassador to UK ‘encouraged’ by Northern Ireland developments June 24, 2021 Brussels’ ambassador to the UK has said he is “encouraged” by recent developments in UK-EU Northern Ireland talks as tensions begin to cool between the two sides. João Vale de Almeida told peers today that the EU had shown “a great deal of understanding and flexibility” in negotiations with the UK over the implementation of [...]
Minister: UK imperial and Commonwealth ties to India will help secure trade deal June 24, 2021 The UK and India’s shared imperialist and Commonwealth history will help the two countries close a trade deal, according to trade minister Ranil Jayawardena. Jayawardena also told City A.M. in a wide ranging interview that a trade deal would help the UK have more “honest conversations” with India over things like its human rights and [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 23, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Barclays Corporate Banking appoints new head of real estate Barclays has appointed a new head of real estate for corporate banking this week, following the retirement of the former-lead. Jason Constable, [...]
Square Mile offices and homes to be warmed with heat from over 650ft below its streets June 23, 2021 In a bid to make London’s Square Mile more sustainable, its homes and offices will be warmed by drawing heat from over 650ft below the streets of the City. As one of the largest low-carbon heating systems in the UK, which forms part of a £4m scheme, the system will produce the same amount of [...]