Unleash small developers to reap public sector land sale potential November 24, 2015 Today is a golden opportunity for the government to kick-start a house-building revolution in this country. We are in the midst of a generational housing crisis that necessitates ambition, innovation and creativity if it is to be resolved. Figures from across the political spectrum have got the right ideas on housing and the drive to [...]
Sadiq Khan: I will unite London and be the most pro-business mayor yet May 5, 2016 Millions of Londoners will have the opportunity today to vote for a new mayor. And when it comes to business and the financial sector, this election matters. London is an established global leader in business services and international finance. We are also a growing force in newer industries such as tech, low carbon and life [...]
Residential landlord Grainger posts jump in rents as it taps into UK rental boom February 11, 2016 Grainger has posted a jump in rents as the residential landlord presses ahead with its expansion into the UK's booming private rental sector. Grainger has two main divisions – its portfolio of private rental homes and its regulated tenancy business where it buys properties subject to regulated rents at a discount before eventually selling them at [...]
Setting bank data free with open APIs is just the start for consumer choice February 9, 2016 Today’s report from the UK Open Banking Working Group has recommended the creation of an Open Banking Standard that will make it possible for banking data to be shared and used securely. But what does this actually mean? In layman’s terms, it means data that banks hold on their customer base – balances, transaction history [...]
Simba Sleep’s James Cox talks firmness, pet names and the importance of conical springs in mattresses June 13, 2016 Within minutes of meeting James Cox, co-founder of innovative mattress company Simba Sleep, I’m drawing a diagram of his product – or my interpretation of it as he whizzes through its composition. Rather than the traditional springs or trendy memory foam, Simba’s mattress is a layer cake of unique ID foam, some memory and a conical [...]
Sainsbury’s beats forecasts on results, but profits and sales still slide as Mike Coupe warns of tough road ahead May 4, 2016 Sainsbury's share price fell this morning as full year profits came in ahead of analyst forecasts – but still show a hefty year-on-year decline as the price wars continue to take their toll. The figures The supermarket reported group sales of £25.8bn for the 12 months to 12 March – down 1.1 per cent on the same period last [...]
By punishing London’s buy-to-let investors, George Osborne is only hurting private renters December 11, 2015 According to a source at the Bank of England, 15 per cent of loans on their books are buy-to-let mortgages. The Bank has spent the last few years yanking levers for owner-occupiers to make sure they’re happy with its stress testing for interest rate rises. In the absence of such a shock absorber for buy-to-let [...]
Earning a crust: With Centrica, Rolls Royce, BHP Billiton and others cutting their dividend, where should investors look for income? March 31, 2016 As central banks have pushed down interest rates, income has become ever harder to find. While returns on cash savings have remained low, dividend-yielding stocks have looked like a source of stability. But now, trouble in the global economy is forcing reliable dividend payers such as Centrica and Rolls Royce to slash their payouts. Companies [...]
Lack of finance keeps smaller housebuilders trailing behind their bigger rivals January 18, 2016 Profits at the top UK housebuilders may have hit a pre-crisis high but their smaller rivals are still struggling to recover as funding for larger projects remains scarce, new research suggests. A construction boom has helped profit margins at larger housebuilders reach an average of 11.7 per cent for 2015 compared to their 2007 peak of 11.2 [...]
Housebuilding is the new black: Persimmon share price rises as profits leap 34 per cent February 23, 2016 Another day, another bit of good news coming out of the housebuilding sector, after Persimmon reported a 34 per cent jump in pre-tax profits. The figures Underlying pre-tax profits rose to £637.8m in the year to the end of December, up 34 per cent on last year's £475m, while full-year revenues rose 13 per cent to £2.9bn. The company said legal completions jumped eight [...]