Older Brits benefit from £1bn-a-day windfall as over 55s sit on £4.4 trillion in property wealth September 18, 2022 Over 55s have benefited from £1bn worth of property growth every day between the start of the pandemic and June 2022. Analysis of statistics obtained via a request to the ONS shows the extent to which over 55s have managed to exploit the growth in property value since the start of the pandemic. The ONS [...]
Renting in London might finally be about to get a bit easier June 7, 2024 The rate at which rental costs in London are rising slowed in April, but tenants are still handing over an average of £2,112 to landlords each month.
How to fix the Bank of England: Economists have their say November 28, 2023 A stinging report has left the Bank of England in the spotlight - again. We asked the best and brightest how to turn the Old Lady around.
UK house prices climb higher to £278,436 as market heat awaits ‘cooling’ May 18, 2022 The average price of a home has continued to climb higher, though its non-stop steamroll is still showing signs of slowing, according to the latest figures. House prices have increased 9.8 per cent to £278,436 in the year to March, down slightly from the 11.3 per cent in annual growth recorded in February of this [...]
Bank of England won’t hesitate to hike rates if inflation persists, warns Andrew Bailey July 10, 2023 The Bank of England will have to keep on lifting interest rates if wages keep rising at a near record pace and businesses continue to pass on swelling costs, Governor Andrew Bailey has signalled today. In a speech delivered at the annual Mansion House bankers’ dinner, Bailey said price pressures emanating from the labour market [...]
FTSE 100 close: Wall Street sea of red offsets HSBC and Persimmon gains in London May 2, 2023 London’s FTSE 100 was dragged deep into the red in the final hours of trading today after Wall Street was pushed lower by investors sweating over more possible banking collapses. The capital’s premier index initially climbed in the morning before eventually closing 1.23 per cent lower at 7,774.12 points, while the domestically-focused mid-cap FTSE 250 [...]
Future of Selfridges in question as co-owner hit by cash crunch November 5, 2023 Shareholders on Friday ousted the Signa's chairman Rene Benko, who is fighting for control over his £20bn empire amid a cash crunch.
Let’s be honest, rent controls are tempting but they would be a disaster for London April 6, 2023 Rent controls seem an attractive policy but don't be fooled: they would mean fewer new homes, fewer properties on the market and they'd risk turning London into a closed city, writes Matthew Lesh
OneSavings Bank profits slump as customers race to refinance mortgages August 10, 2023 Profit at OneSavings Bank (OSB) Group slumped in the first half of the year as the lender dealt with a £180m hit from changing customer behaviour. Pretax profit at the FTSE-250 listed specialist bank fell 71 per cent to £76.7m from £268.1m in the same period last year. The bank announced a dividend of 10.2p, [...]
Wall Street flat but FTSE ticks up as investors await inflation data June 7, 2021 Wall Street’s main indexes were muted this afternoon as investors stayed on the fence ahead of key inflation data this week, while tech stocks shrugged off a G7 agreement on a new global corporate tax minimum. The Dow Jones Industrial Average and S&P 500 dipped 0.46 and 0.26 per cent respectively by early evening trading. [...]