EU referendum: George Osborne warns Brexit will hit Britain where it hurts – property prices May 8, 2016 George Osborne has warned that the nation's homeowners face a double whammy drop in house prices and a rise in mortgage costs if Britain votes to leave Europe. "It’s already clear from the Treasury analysis that for example, there would a significant shock to the housing market, that would hit the value of people’s homes, that would hit the cost [...]
The fashion industry has slumped into negative growth for the first time in six years June 29, 2016 The fashion industry is in negative growth for the first time in six years, as the high street struggles with retail failures and declining footfall. Figures from Kantar Worldpanel show a 0.1 per cent fall in the spend on fashion goods such as clothing, footwear and accessories in the year to 5 June. Read more: 2016 set [...]
Remain dream team? A most unlikely group is speaking out on Brexit – Osborne, Balls and Cable join forces May 16, 2016 An unlikely group has gathered at, of all places, Stansted Airport, to make the case for Britain remaining in Europe. The chancellor George Osborne has been joined by former political rivals Ed Balls and Vince Cable – as well as outspoken Ryanair boss Michael O'Leary. The unlikely trio, representing the UK's main political parties, stood together united against [...]
Probe finds non-transparent practices are pervasive within the US advertising industry June 7, 2016 Media agencies in the US have been given cash rebates by media companies for spending a certain amount of their clients' budgets with them, a probe by an American industry trade body has found. Agencies are expected to act in the best interests of their clients, and such rebates are banned in the States. A "pervasive" [...]
EU referendum: Countrywide has issued a warning over “political and economic uncertainty” caused by Brexit April 26, 2016 Countrywide has warned that the housing market will slow this quarter, in the wake of "political and economic uncertainty" ahead of the country going to polls to vote on the EU referendum. The firm, which this morning revealed a surge in activity during the first three months of the year ahead of the government's stamp duty [...]
UK house sales and purchases set to jump by a fifth by 2020 – but will still be below 2007 levels May 18, 2016 UK housing transactions are set to jump by a fifth by 2020, but this will still be eight per cent lower than pre-financial crisis levels, according to a new report today. Conveyancing services provider My Home Move predicts that the number of annual property transactions will rise from the 1.23 million recorded last year to [...]
Tata bidders prepare for Monday deadline in race to save UK steel industry May 19, 2016 The seven bidders vying to buy Tata Steel's UK business are racing to finalise their bids ahead of Monday's deadline, City A.M. understands. Indian conglomerate Tata revealed last week that it would take seven bidders forward to the next stage of the buying process. It is unlikely that details of the individual bids will be made public once they [...]
Leaving the Single Market would blow a £14bn hole in the public finances July 21, 2016 Before the referendum, George Osborne claimed a Brexit vote would require an emergency Budget of tax hikes and big spending cuts. While the new chancellor has said that he will wait until the Autumn Statement before he makes any changes to fiscal policy, it is unclear what he will choose to do. But what is [...]
Extended right to buy scheme could cost London councils just shy of £50m each May 4, 2016 Councils in London will need to fork out £49m a year on average to fund government’s planned extensions to the right to buy scheme, a report out today by Shelter has warned. Under the right to buy extension, local authorities will be forced to sell off a proportion of their vacant council house stock on the open [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]