New homes on sale in “mini-Manhattan” London City Island, marketed as the capital’s would-be culture hub September 1, 2016 London City Island, Leamouth Peninsula From £365,000 The final and tallest building in the London City Island development will go on sale on Saturday. The marketing suite on the Leamouth Peninsula site will throw a party with ice pops and a juice bar from 10am to 5pm to entice buyers to invest in studio to [...]
Theresa May hit by a business backlash over her Conservative party conference speech October 5, 2016 Prime minister Theresa May was lambasted by business groups and policy wonks yesterday for a speech that laid bare an interventionist economic policy and a heavy-handed approach to business reform. May used her closing speech at the Conservative party conference in Birmingham to pledge action against “dysfunctional” markets and to slam the so-called liberal metropolitan elite. [...]
London swells the taxman’s coffers by paying almost half the country’s levy on home purchases September 30, 2016 The government collected £3.4bn of stamp duty from the London's homebuyers according to statistics released today. The number represented 46 per cent of the total amount of stamp duty paid in the UK over the last year. And together with the rest of the south-east, together the two areas accounted for more than two-thirds of the [...]
Budget 2017: Philip Hammond could raise the pensions Lifetime Allowance to fund social care and end inheritance tax discrimination to improve the nation’s finances March 1, 2017 The weeks leading up to George Osborne’s Budget statements were filled with frenzied speculation. Famed for his tinkering, the former chancellor’s Budgets enshrined a number of eye-catching and popular reforms, including landmark pension freedoms, and some not so popular ones, such as a reduction in the amount an individual can put into their pension and [...]
The biggest announcements from Google’s Pixel event October 4, 2016 After some hefty leaks last week, Google has just officially unveiled a new collection of devices with Google Assistant — the tech giant's artificial intelligence engine — at their core. Pixel Chief among Google's announcements was the reveal of its new phone, called Pixel. The iPhone rivalling handset is available in two sizes, Pixel and Pixel XL, with the former sporting a 5-inch 1080p screen and [...]
Budget 2017: The full text of chancellor Philip Hammond’s speech March 8, 2017 Philip Hammond has delivered his first – and last – Spring Budget. Headline announcements included more cash for social care and punishing new rules for the self-employed – plus some vague comments on business rates. Read more: City A.M.'s TL;DR version of the Spring 2017 Budget Here's what he said: Mr Deputy Speaker, I report [...]
Lobster roll craze drives wholesale prices of the crustacean to an 11-year high October 11, 2016 Wholesale lobster prices have hit an 11-year high following a burst in popularity in lobster rolls and the now-affordable luxury gracing the menus of more and more casual dining chains. Lobster is now worth $6 (£4.80) a pound, according to US data group Urner Barry. Read more: Lobster and burgers folks… That's it Groups such as B.O.B [...]
Landlords threaten to hike rents after tax changes kick in October 1, 2016 Landlords have claimed they will be forced to raise rents as a result of the government's string of tax changes and crackdowns on the buy to let sector. A new survey also revealed private sector landlords will not be able to invest as much in improving their properties as a result of the extra charges [...]
Prices on high-end central London properties are expected to fall by six per cent this year August 22, 2016 The price of high-end homes in the centre of London is expected to fall by six per cent this year. According to estate agency Countrywide, prime central London property will be "the hardest hit" in the months after the EU referendum. In the market as a whole, house prices will fall by one per cent next [...]
Nil points: Why boring Dublin and provincial Frankfurt won’t steal London’s financial services crown January 23, 2017 As chief executive of a UK SME reliant on a successful financial services sector, Brexit caused a mixture of emotions in me – anger and fear being two of them. But chief executives count action among their traits, so rather than listen to the relentless speculation about Article 50 and its implications, I downloaded the [...]