George stands by his yuan: Osborne to press ahead with plans to connect British and Chinese stock exchanges January 13, 2016 Chancellor George Osborne is pressing ahead with plans to connect the British and Chinese stock exchanges despite heightened market fears over volatility in the Chinese markets. Osborne used a speech in Shanghai last September to announce a new “feasibility study” into connecting the UK and Chinese markets, writing at the time in City A.M. that [...]
Ex-boss of Persimmon boss Mike Farley lands £19m bonus two years after leaving housebuilder January 3, 2016 The former boss of Persimmon Mike Farley collected nearly £20m in shares on New Year’s Eve, more than two years after leaving the housebuilder. The payout is part of long-term incentive scheme launched three years ago for its top 140 executives worth hundreds of millions of pounds. Farley was granted 966,400 shares despite the scheme being [...]
London house prices to climb five per cent in 2016, says Royal Institution of Chartered Surveyors December 22, 2015 London house prices will climb five per cent next year as the shortage of homes coming to the market and rising demand lifts prices, according to a new forecast. The Royal Institution of Chartered Surveyors (RICS) said prices were forecast to go up despite the launch of government initiatives to boost homebuilding. However, London price growth is [...]
ICAEW: Weak business optimism is a bad sign for chancellor George Osborne February 1, 2016 Business confidence has dropped to a three-year low, signalling lower growth and posing a threat to chancellor George Osborne’s budget targets. The Institute of Chartered Accountants in England and Wales’ (ICAEW) confidence index dipped to a score of 11.4 for the start of 2016 – the lowest since early 2013. Lower economic growth can impact [...]
From Google’s tax row and the Black Cabs vs Uber to Storm Imogen and the bank bloodbath: Here’s what got us talking this week February 12, 2016 We saw what London would look like if all the skyscrapers being considered got built. A Shoreditch development is bringing history to centre Stage. And we learned how much the Night Tube delay has hurt house prices in central London. Here's what got us talking this week The banking sector is facing its toughest period since [...]
UK house prices: “Just move out of London” – one mortgage site’s solution to Generation Rent’s affordability crisis November 11, 2015 Nowhere has the UK's housing crisis been more potent than in the capital, where a generation of people – dubbed "Generation Rent" – has been priced out of the property market. Now one mortgage site has a solution: go somewhere else. MyLocalMortgage.co.uk reckons if Generation Rent wants "cheaper housing and higher life satisfaction, it should just move out [...]
How digital innovation is bringing prosperity to the world’s poorest March 24, 2016 There are approximately 2m adults in the UK who don’t have bank accounts. This statistic is shocking for a global finance hub, but it is dwarfed by the 2bn people worldwide who lack access to financial services. For the unbanked, having no means of saving or managing their finances can mean being locked in a [...]
Peer-to-peer lender LendInvest on track to back £1bn of new properties by 2016 November 30, 2015 Peer-to-peer (P2P) property lending and investment firm LendInvest said it has doubled the number of properties it has supplied finance to over the last year, as developers scramble to keep up with demand for more homes. The alternative lender, which aims to plug the funding gap left by high street banks, has backed 1,222 new [...]
UK property listings drop by a fifth in November as London scores zero December 9, 2015 New property listings dropped by more than a fifth across the UK in November, with not one London borough recording a rise in supply, new research shows. The number of new homes on the market dropped by 21.5 per cent, according to the latest Property Supply Index by online estate agents HouseSimple.com, marking the biggest drop [...]
Prime Minister David Cameron hails “great turnaround decade” in new year’s message January 1, 2016 Prime Minister David Cameron yesterday promised to deliver social reforms, including a clampdown on terrorism, in what he described as a "great turnaround decade". Cameron said the government will build on Britain's economic growth to give people "security at every stage" of their lives spanning education, employment and retirement. He stressed the sole driver of his efforts [...]