Surprise broadband demand leads to an extra £440m of telecoms infrastructure investment December 22, 2016 Better than expected demand for fibre broadband in Britain's hard to reach areas has provided a £440m boost to the public purse. In 2013, the government launched its £1.7bn Broadband Delivery UK (BDUK) project. The initiative included a series of aims culminating in ensuring 97 per cent of the UK's households could connect to superfast broadband by 2020. BT were [...]
The housing crisis must be tackled by both government and industry or shareholders in the housebuilding sector will continue to suffer November 29, 2016 The UK is facing a chronic housing shortage, but housebuilders’ shares have taken a hammering in recent months. On the surface it is a conundrum. However, there are many forces at play. This year's changes to stamp duty have been inflationary at the bottom end of the London market and deflationary at the top. As [...]
Autumn Statement: London is getting £3.15bn of funding for 90,000 affordable homes November 23, 2016 London is getting £3.15bn of funding for 90,000 affordable homes by 2020-21, chancellor Philip Hammond announced in the Autumn Statement today. The chancellor said in his first Autumn Statement today that housing remains unaffordable for too many in the UK and that London will be getting its share of the affordable housing budget. Read more: [...]
The reality of starting out as a landlord: Four months of no tenants and £2,000 set-up costs November 29, 2016 It may be regarded as a money-spinning idea by some, but a new study has laid bare the challenges of being a landlord. A fifth of new property owners said they had endured four months without tenants after they bought their first properties, according to a study by the Nottingham Building Society – while 53 per cent [...]
Why an “imminent” Robin Hood tax is the latest nail in the EU’s coffin February 2, 2017 It is easy to be sceptical when any European Commissioner comes out and says something is imminent – particularly when you consider the ponderous and remote nature of the various institutions that make up the EU. But with Britain no longer having a say, last week’s comments from Commissioner Pierre Moscovici about a financial transaction [...]
City Moves for 10 November 2016 | Who’s switching jobs November 10, 2016 Touch Surgery Eric Collins has been appointed by Touch Surgery as chief operations officer. Eric is a technology executive who has spent a career building the value of software companies through innovative product, distribution, monetisation and partnering strategies. Previously he has held roles at AOL, Time Warner and SwiftKey/Microsoft. He was also appointed by former [...]
Charlotte Hogg resigns as Bank of England deputy governor after conflict of interest row March 14, 2017 Charlotte Hogg has resigned from her position as deputy governor of the Bank of England after a report by MPs said her competence "falls short of the very high standards required to fulfil the… responsibilities" of deputy governor of the Bank of England. In a statement today the Bank of England said it had accepted her resignation, [...]
Carmakers warn losing single market access in Brexit deal will ramp up car prices November 30, 2016 The boss of the Society of Motor Manufacturers and Traders (SMMT) has warned leaving the single market could jack up car prices. Gareth Jones said the car industry will be hit with "billions" in tariffs should Britain not sign a deal keeping the sector within a tariff-free EU trading bloc. It will add at least £2.7bn [...]
Greene King reveals sober sales despite gains over the Christmas period February 10, 2017 Sales at British pub operator Greene King grew over the 40 weeks to 5 February due to a strong Christmas period, but it was hit by a "dramatic" slowdown of sales in the quieter months. The figures In a trading statement today, Greene King said like-for-like sales grew 1.1 per cent over the period. For the [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]