Wall St treads water on data – New York Report November 25, 2014 US STOCKS ended little changed yesterday as the country’s economy grew more than expected last quarter, but soft readings on consumer confidence and house prices kept major indexes in a tight range. The Dow Jones industrial average fell 2.96 points, or 0.02 per cent, to 17,814.94, the S&P 500 lost 2.38 points, or 0.12 per [...]
City Moves for 12 January 2015 | Who’s switching jobs January 11, 2015 PwC Legal The professional services firm’s legal division has announced the appointment of Mick Gorrill. He is a data protection practitioner and, as assistant information commissioner at the Information Commissioner’s Office, he oversaw the introduction of data protection fines into law. RBC Wealth Management The wealth manager has announced the appointment of Antony Johnson as [...]
EU: Stamp duty is such a drag on transactions October 14, 2014 BRITAIN’S housing market is inflated by tax rules, which push up prices, and is left vulnerable to booms and busts because of stamp duty, the European Commission (EC) warned in a report yesterday. Transaction taxes such as stamp duty can cost buyers tens or even hundreds of thousands of pounds on each purchase, forcing them [...]
Home Retail Group sells Homebase in Battersea for £52m to homes developer Fifth Capital London November 24, 2014 The housing market in London’s Nine Elms area is booming. But Home Retail Group has decided to sell its DIY store Homebase in Battersea after receiving a £57m offer for the sought-after site. The retailer said yesterday it had exchanged contracts to sell the huge site on York Road to Fifth Capital London, a little-known [...]
Pub industry says end of beer tie system could lead to closures and job losses November 19, 2014 Britain’s pub groups woke up with a hangover yesterday after MPs voted in favour of a shake up of Britain’s nearly 400-year-old beer-tie system, warning that a change to rules could lead to further pub closures across the country. Companies. including Enterprise Inns and Punch Taverns – two of the UK’s largest tenanted [...]
UK deficit comes down as tax revenues creep higher April 23, 2014 THE UK’S public deficit in 2013-14 dropped further than expected at the start of the fiscal year, according to yesterday’s official figures, but the improvement is being driven by increased tax revenues. The public sector’s net borrowing in the last financial year was £107.7bn, down £7.5bn from the previous year, and just over £12bn lower [...]
Intelligent design: Made.com co-founder Chloe Macintosh talks knitting and the importance of opportunities April 26, 2015 When Chloe Macintosh sat down with a friend of a friend, she didn’t expect to get a job out of it – or to go on to become the co-founder of e-commerce furniture company Made.com. But Brent Hoberman, co-founder of Lastminute.com and mydeco.com, isn’t any old coffee meet-up – and there’s nothing ordinary or unremarkable [...]
The most exciting frontier markets opportunities: From Vietnam to Pakistan, Romania to Nigeria March 26, 2015 Every portfolio needs diversifiers, and frontier markets are becoming increasingly relevant for investors seeking growth. Frontiers tend to be uncorrelated with developed markets, so the investment stories will thrive – or fail – independent of events in Europe or the US. Below, we highlight four of the hottest frontier markets right now. VIETNAM After [...]
Labour plans to double number of first-time buyers October 16, 2014 The Labour party will set out plans to give first-time buyers top priority by handing more powers to local communities in England for new house building. The party will pledge to double the number of first-time buyers over the next 10 years should it be returned to office. Furthermore, Labour wants 200,0000 homes a year [...]
Tiny London flat snapped up for £100,000 October 9, 2014 Here at City A.M. we're big fans of tiny houses. There was the super-skinny north London house which went to auction for £235,000 even though it measured in at just 83 inches wide. Then we learned of a 12ft-wide house being built in south London – which was put up for sale for [...]