Next chief sees housing bubble danger ahead September 12, 2013 THE CHIEF executive of Next warned yesterday that improving mortage availability and government measures to boost activity in the housing market could result in an “unhelpful house price bubble” as the retailer reported strong half-year sales growth. Lord Simon Wolfson, a prominent supporter of the Conservative Party, said house price inflation “was as dangerous as [...]
Helical Bar buys Network Rail offices in Paddington for £31m October 14, 2013 PROPERTY developer Helical Bar has bought Enterprise House in Paddington for £31m through a sale and leaseback with Network Rail Infrastructure. The rail network operator has agreed a 20-year leaseback of the Art Deco building at a rent of £40 per square foot, generating an annual rental income of £1.8m, Helical said yesterday. The group [...]
Autumn statement 2013: What to watch out for December 4, 2013 WHO: GEORGE OSBORNEWHEN: 11.15AM TODAYWHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW Business rate rises cappedRate rises will be limited to 2 per cent in England and Wales in 2014, not linked to inflation State pension reformRetirement age rising to 69 by late 2040s Paper tax disc abolishedVehicle exise duty (VED) to be paid online Tax-free childcare vouchersAvailable [...]
Santander joins mortgage plan as prices rocket October 10, 2013 SANTANDER became the sixth bank to join the Help to Buy scheme, yesterday promising to offer mortgages with a government guarantee in the New Year. But the announcement came as new data revealed the housing market is already growing strongly, adding to fears that the guarantee scheme could promote a bubble in some areas. House [...]
Our at-a-glance guide to Osborne’s mini-budget December 5, 2013 Growth up, borrowing down, yet the debt is still rising. Another raid on the banks, but shops to gain from reduced business rates THE UK ECONOMIC OUTLOOK● The Office for Budget Responsibility (OBR) has revised up its forecast for economic growth and revised down its prediction for inflation. It expects unemployment to drop quickly next [...]
Tilda basmati rice brand is put up for sale November 4, 2013 THE OWNERS of Tilda, one of the world’s top basmati rice brands, are considering a sale that could value the business at up to £250m. The Thakrar family, which owns Tilda, is understood to have appointed investment bank Rothschild to review options for the family’s shareholding, according to reports by Sky News. Rothschild declined to [...]
London Report: Carney likely to bear good news about inflation November 10, 2013 GOVERNOR of the Bank of England Mark Carney is likely to be the bearer of good news when he presents his inflation report on Wednesday, with the growth rate heading up and the unemployment rate coming down. Carney pledged in August not to raise rates until unemployment fell to at least seven per cent, a [...]
Mark Hoban under pressure over meetings with Co-op executives December 1, 2013 CONSERVATIVE MP Mark Hoban is under pressure to reveal how many meetings and phone calls he had with Co-op bosses during the doomed sale of Lloyds bank branches. The Co-operative made a bid for the branches in 2011 in the hope of expanding its presence on the UK high-street, but withdrew its offer citing a [...]
US medical device tax may face repeal in debt-ceiling negotiations September 30, 2013 The controversial medical device tax may face repeal in the heat of US debt-ceiling negotiations. Over the weekend Republicans in the House of Representatives passed a bill to keep the Federal government running past midnight on Monday by adding two amendments. The first was the delay to the implementation of Obamacare by a year, the [...]
Pearson plunges as it warns of lower profits October 30, 2013 FTSE 100-listed publishing group Pearson saw its shares slide almost four per cent yesterday, after it warned that full-year operating profits will be lower than last year. The education and media group, which owns the Financial Times newspaper, attributed the lower profit forecast to weak market conditions for college textbooks in North America and the [...]