Truss budget fallout will drag on growth, LendInvest warns November 30, 2022 Property fintech LendInvest has warned that the fallout of Liz Truss’s disastrous mini-budget in September will drag on growth in the second half of the year, as borrowing slows amid sharp interest rate hikes.
FTSE 100 close: Wilting Chinese recovery keeps London mining giants lower July 5, 2023 London’s FTSE 100 sagged today, dragged lower by industrial firms tumbling in response to signs that China’s economic recovery is running out of steam. The capital’s premier index shed 1.03 per cent to close at 7,442.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
UK factories slip further into recession on cooling overseas spending July 3, 2023 Britain’s factories have plunged further into recession territory, driven by domestic and foreign buyers reining in spending amid intense economic uncertainty, a closely watched survey out today shows. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the UK’s manufacturing industry slipped to 46.5 in June from 47.1 [...]
Average mortgage repayments approaching 33 per cent of monthly income akin to 2008 financial crash levels May 25, 2022 Homeowners are spending more to live in their house than at any point in the last 15 years, with mortgage repayments equalling almost 33 per cent of monthly income. The cost of living crisis and increase in interest rates has put renewed pressure on property-owners, with house prices soaring and the cost of repayments nearing [...]
Why housebuilders’ share prices are sinking – despite healthy industry profits March 5, 2023 If you quickly skim over the financial results of any major residential home builder you would presume that business, for the most part, is doing quite well. Just last week a flurry of housebuilding companies revealed their earnings for 2022 with major players in the market such as Persimmon and Taylor Wimpey seeing profits of [...]
Food inflation lowest level since last August, as supermarket price wars pay off October 3, 2023 The rate at which food prices increase has fallen to 9.9 per cent in September, down from 11.5 per cent the prior month, and the lowest level since last August, in the latest signal that cost of living pressures customers face at the till are beginning to ease. Shop price annual inflation is now also [...]
Spring Budget 2024: What do ‘the five families’ of Tory MPs want to see Jeremy Hunt announce? February 28, 2024 For Conservative MPs, Jeremy Hunt's Spring Budget, represents a chance to reverse their party's fortunes and appeal to voters with 'real' Tory-ism.
Meet the man trying to rebuild Purplebricks from the ground up February 15, 2024 Purplebricks was sold for £1 last year - now Sam Mitchell is trying to rebuild it
The Notebook: Ben Thompson on why stamp duty reform needs to be on Hunt’s list tomorrow November 21, 2023 Ben Thompson, deputy CEO at Mortgage Advice Bureau, talks stamp duty reform, help for first-time buyers and his favourite poem.
M&S aims to launch banking and loyalty ‘superapp’ in long-term commitment to financial services March 17, 2024 Marks & Spencer (M&S) is reportedly close to a seven-year agreement with HSBC to overhaul its banking division as a financial services and loyalty "superapp".