Persimmon and Aviva agree to make leasehold payments fairer for homeowners after CMA probe June 23, 2021 Following an investigation by the UK’s markets watchdog, housebuilder Persimmon and financial services group Aviva have agreed to overhaul their leasehold contracts to make payments fairer for homeowners. The Competition and Markets Authority (CMA) investigation into Persimonn’s leaseholds pushed the housebuilder to cap the price of freehold at £2,000 in its Right to Buy scheme [...]
Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]
How the climate change revolution has lit a fire under the heating industry June 22, 2021 Climate policy over the last few years has seen the rise and rise of “net zero” targets, to the extent that around 70% of global emissions are now covered by a net zero policy. Converting these long-term ambitions into a clear plan of action is the next step, and the recent publication of a net [...]
House prices rise £2,500 in June but ‘early signs’ suggest market is slowing June 21, 2021 House prices rose again this month, bringing the UK’s average house price to a new record high, however there are early signs the market is starting to slow down. House prices rose £2,509 this month, a relatively modest rise 0.8 per cent, pushing house prices to a new record high of £336,073. June’s rise was [...]
Starbucks UK plummets to £41m loss after year of Covid restrictions June 18, 2021 Starbucks has recorded a loss of £41m in the year to September 2020, after Covid restrictions forced it to shut branches and limit typical trading activity. The coffee chain saw revenues fall to £243m, according to a Companies House report, down 32.7 per cent, largely due to heavy restrictions imposed on the business throughout much [...]
Are we now on the road to net-zero? June 18, 2021 We spoke to climate change specialists Simon Webber and Isabella Hervey-Bathurst for their views on the IEA’s latest report. Climate change and the transition from fossil fuels to sustainable energy is arguably the most pressing issue facing the world today. Addressing the issue of how the world produces and consumes energy, and the measures that [...]
UK wealth management fund True Potential eyes $2bn US Spac float June 18, 2021 UK wealth management fund True Potential is eyeing a potential $2bn Spac listing in the US, according to reports, snubbing the London Stock Exchange for Wall Street. Credit Suisse’s US bankers have tabled plans to merge the management fund with a special purpose acquisition company, the Evening Standard first reported. Working with nearly 20 per [...]
Liz Truss to meet US counterpart to discuss UK-US trade deal June 16, 2021 International trade secretary Liz Truss will meet with her US counterpart today to hold discussions over the UK-US trade deal and on ending the long-running Airbus-Boeing trade dispute. Truss will meet with US trade representative Katherine Tai in London for their first face-to-face meeting, with the pair also set to discuss “our overall approach to [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 16, 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. CBRE board bags ex-BlackRock real estate lead A former head of global real estate at investment heavyweight BlackRock is set to join real estate services firm CBRE in June. Marcus Sperber [...]
Lina Khan: How America’s answer to Margrethe Vestager plans to take on Big Tech June 16, 2021 Since taking over as European Commissioner for Competition in 2014, Margrethe Vestager has made her mission clear: to crack down on the ballooning power of Big Tech. The ruthless competition czar has undoubtedly delivered on those ambitions, handing down high-profile fines running into the tens of billions of euros against the likes of Facebook, Apple, [...]