Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Treasury tremors: how does the current sell-off compare with past episodes? April 16, 2021 US Treasuries have seen the second worst start to a year and third worst quarter in 50 years. It is another eye-catching development amid what have been extreme conditions in markets and the economy over the past year. Bond markets have seen particularly unusual circumstances, with yields falling ever lower and an increasing number of [...]
City of London Corporation appoints new top team to lead transformational change April 16, 2021 Following its decision in December 2020 to endorse a new Operating Model, the City of London Corporation’s governing Court of Common Council today welcomed the appointment of eight new senior officers and formally confirmed the appointment of the first woman as Chamberlain, the Corporation’s Chief Financial Officer, since the post was created in 1237. Chair [...]
Stimulus cheques from Washington boost US retail spending, but 576,000 file jobless claims April 15, 2021 Stimulus cheques from Washington boost US retail spending, but 576,000 file jobless claims
Croatian wine is shedding its rep as cheap plonk – here’s why April 15, 2021 Croatia has an ideal climate for wine making, but lacks the reputation as a solid producer of premium bottles. For years its exports would feature in the bottom echelons of wine lists, labeled – mostly fairly – as cheap and cheerful plonk. But not any more. The UK’s first Croatian wine importer is run by [...]
German constitutional court cuts Berlin rent cap April 15, 2021 Berlin’s rent cap has been struck down by Germany’s Constitutional Court today, as it ruled the pandemic-imposed law as invalid. The ruling comes as a huge blow for supporters of rent limits across Europe, as it pushed landlords to cut rents in the capital for over 300,000 tenants during the pandemic. The controversial cap, imposed [...]
Before the Open: Late US tech selloff set to act as a drag on European open April 15, 2021 US markets saw another mixed close yesterday, only this time it was the S&P500 and Nasdaq that finished the day lower, while the Dow and Russell 2000 finished higher on the day. Despite the mixed close the S&P500 and Dow still managed to post new record highs. Coinbase finished its first day of trading, closing [...]
Pandemic pushes corporates’ legal spend higher April 15, 2021 Law firms are one of the few winners in the pandemic with corporates planning to increase legal spend this year, new research shows. Some 38 per cent of UK companies polled by Thomson Reuters are planning to increase their legal spend, almost twice as many planning to make cuts. It is partly driven by demand [...]
Halifax: UK house prices near ‘pre-financial crash levels’ April 14, 2021 UK house prices have hit a record high despite rising at a slower rate than a year ago, according to the Halifax house price index this morning. The lender said that the affordability of houses was “close to pre-financial crisis levels”, as house prices remained historically high at an average of £252,765. The difference between [...]
The pros, cons and incentives behind the SPAC-craze sweeping markets April 14, 2021 There have been 378 initial public offerings (IPOs) in the US in the first three months of 2021. That’s more than in any full calendar year between 2003 and 2019. The $139 billion raised so far this year is more than two and a half times the yearly average over this period. They already have [...]
London house prices: First-time buyers now need up to £73k more to get on the property ladder April 14, 2021 First-time buyers have seen house prices climb by 7 per cent in the last twelve months, according to new research that build snagging and defect management firm BuildScan shared with City A.M. this morning. As the stamp duty holiday helped to boost buyer demand, a sharp uplift in house prices followed as a result, particularly in [...]