From Ukip and bird flu to RBS and Lidl: 10 things we learned this week November 21, 2014 1. Ukip got its second member of parliament. Mark Reckless retook the seat he'd held as a Conservative. But that was really the side show to accusations of snobbish tweets and comments around immigration that were so inflamatory Ukip distanced itself from them. 2. Bird flu returned to the UK. It's unlikely to pose [...]
London house prices could drop further over the next three months October 9, 2014 House price momentum has gone back 16 months. According to the latest Royal Institution of Chartered Surveyors (Rics) report, this is the third straight month that demand has slipped. Simon Rubinsohn, chief economist at Rics, said expectations were that prices in London could drop over the next three months, as a greater balance between supply and [...]
FTSE 100 index ends up as commodities and energy rally – London Report October 7, 2015 Energy and mining stocks yesterday advanced on the back of stronger commodity prices as Britain’s top shares index extended gains from Monday’s session. The blue-chip FTSE 100 index, which surged 2.8 per cent on Monday, ended 0.4 per cent higher at 6,326.16 points. The index, however, is still down about 3.5 per cent this year [...]
New data shows housing market is slowing down October 30, 2014 HOUSE price growth continued to slow down in October, adding to the view that the market is experiencing a broad-based cooling. Prices grew by nine per cent year-on-year in October, according to figures released yesterday by Nationwide. Although the annual growth is high, it is slower than the 11.8 per cent seen in June when [...]
Lord Myners’ report into Royal Mail mustn’t get lost in the post November 5, 2014 It's the privatisation row that won’t go away. Royal Mail’s shares may have performed limply since their post-flotation peak earlier this year, but their initial surge makes it a safe bet that the sell-off will feature heavily during next year’s general election campaign. Two reports – from the National Audit Office and the Business [...]
Boris Johnson to approve controversial 700-apartment development October 2, 2014 Boris Johnson is expected to approve plans to develop London’s largest brownfield site in Islington tomorrow, despite thousands of local residents campaigning against it. The site – the former Royal Mail sorting office at Mount Pleasant, off Farringdon Road – has been highly controversial, with both Islington and Camden councils rejecting the plans, before the [...]
Trafalgar and Parliament squares smoking ban to cost £6.5m October 15, 2014 London's 1.2m smokers could face new restrictions on where they can light up if the mayor Boris Johnson decides to implement a report from London's Health Commission (LHC). Smoking could be banned in London's parks, Trafalgar and Parliament squares. The proposals will certainly be controversial in a city where 18 per cent of the population [...]
London house price boom set to stall in 2015 as tough new mortgage lending rules take effect October 14, 2014 House price growth is set to level off across the UK and could even be at risk of falling in the capital, according to industry experts. “It’s been indicated by the collapse in buyer in inquiries, there’s been a very sharp fall in London,” Joshua Miller, economist from the Royal Institution of Charted Surveyors, told [...]
City Moves for 07 November 2014 | Who’s switching jobs November 6, 2014 Lloyds Bank Commercial Banking Oliver Knight has been appointed head of the bank’s group and public sector team and head of regulatory response. He joins from Accenture, where his experience included four years working in its financial services strategy practice. Deutsche Bank Elizabeth Nolan has been appointed head of custody and clearing at the bank. [...]
Money for old rope as Melrose pulls in £365m October 13, 2014 MELROSE Industries is selling its rope-manufacturing arm Bridon to the Ontario Teachers’ Pension Plan (OTPP) for £365m. As part of the deal, British investment company Melrose will contribute £6.7m towards the Bridon Group (2013) pension scheme, which will remain with Bridon on disposal. Melrose said it intends to use the proceeds of the sale to [...]