Estate agencies have under 40 available properties on their books on average, says RICS August 15, 2022 The UK’s housing stock levels are close to all-time lows, according to the latest research, which has kept house prices suspended at levels which outpace annual wages. On average, estate agents have just 36 available properties on their books, the RICS Housing Market Survey revealed today. The average cost of a home remains at swollen [...]
Apple faces second downgrade, shares hit eight-week low January 5, 2024 Apple is grappling with a challenging start to the new year as concerns about iPhone sales lead to a second downgrade within just one week. Piper Sandler’s recent rating downgrade caused a substantial drop in Apple’s shares, hitting an eight-week low on Thursday. Harsh Kumar from Piper Sandler & Co. has downgraded his rating on [...]
House prices grow for tenth month in a row, but market continues to cool June 1, 2022 House prices have growth for the tenth month in a row, according to the latest figures, though costs are continuing to slow in their steamroll. The average price of a home in the UK grew 11.2 per cent to £269,914 in May, slowing slightly from the more than 12 per cent growth reported in April, [...]
OPEC chief warns IEA not to undermine oil investment as war of words escalates April 27, 2023 OPEC's war of words with the International Energy Agency entered another heated chapter today amid concerns over oil demand.
Bank of England needs ‘pruning’ to deliver: Influential Lords Committee November 27, 2023 The Bank of England needs to face more Parliamentary scrutiny and have its remit "pruned" to ensure that independence works as effectively as possible, a new report argues.
UK at greater risk of mortgage default wave than international counterparts November 9, 2022 The UK is at greater risk of being jolted by an uptick in mortgage defaults during the global economic slowdown, a top Wall Street bank has warned. Goldman Sachs reckons the country will undergo a bigger unemployment surge compared to other English speaking countries, dealing a heavy blow to households’ capacity to pay off home [...]
Rishi Sunak: Brits will never have it so good (next year) despite ‘real risk’ of recession August 17, 2023 Rishi Sunak has outlined his hopes to ensure Britons feel better off next year, amid warnings that the UK economy faces a “very real risk” of recession due to higher interest rates. The Prime Minister attempted to strike an optimistic tone when asked about efforts to tame inflation, as he said there is a need [...]
Boohoo share price soars as profits halve: Brits ditch fast-fashion and head back to the high street May 16, 2023 Online fashion retailer Boohoo said its profits halved, as the cost of living crisis continues to hit consumers’ spending and Brits flock back to physical stores. Pre-tax profits for the group halved during the 12 month period ended 28 February 2023 to £63.3m, down 49 per cent, with revenues dropping 11 per cent to £1.77bn. [...]
FTSE 100 today: London markets likely to soar on the heels of global tech rally January 19, 2024 Global stocks surge in a tech rally, oil prices dip, and Bitcoin hits a five-week low. Attention now shifts to UK retail sales and U.S. Michigan Sentiment data.
BHP boss bullish over demand in China as Aussie miner’s profits tumble August 22, 2023 Miner BHP has cut forecasted growth in China and reported profits down by 37 per cent last year, but CEO Mike Henry remained optimistic this morning