How London can get the infrastructure it needs – but without the bureaucracy March 24, 2015 Infrastructure looms large in the life of every Londoner. Even though it’s probably not at the forefront of our minds as we check our emails and fill up the kettle each morning, we depend on quality, reliable infrastructure day in, day out. And it’s just as important for the capital’s businesses. They need it to [...]
Essential Living wins funds for Build-to-Rent November 27, 2014 RESIDENTIAL Landlord Essential Living has become the first company to receive funding from the second phase of the government’s build-to-rent fund, paving the way for three private rented sector developments in London and the south east. The company said today it had secured a three-year £51.6m loan from the Royal Bank of Scotland and the [...]
The City is well-placed to help fast-growing economies diversify January 25, 2015 A recent statistic has been stuck in my mind over the past few weeks. I read that the G7 nations currently account for around half of the world’s total economic output, but that the figure will fall to about a quarter by 2050. This simple fact explains why countries like the UK are so keen [...]
Shell’s earnings almost double but shares slide January 29, 2015 SHELL’S shares closed down 4.34 per cent yesterday, despite the oil giant announcing fourth-quarter earnings that soared to $4.2bn (£2.8bn), 93 per cent up from $2.2bn for the same quarter a year ago. Full-year earnings also recorded a healthy 14 per cent jump to $19.04bn, up from $16bn a year earlier. The energy giant has [...]
Budget 2015: New pensions changes to allow savers to cash in annuities March 16, 2015 George Osborne’s crunch pre-election Budget will give savers who already own an annuity the power to cash it out. This new loosening of pensions rules builds on changes in last year’s Budget, and was confirmed by the Treasury yesterday. The Treasury says that it will give greater flexibility to five million pensioners who already own [...]
Academies to benefit from clubs’ profits March 25, 2015 Teams tipped to invest in new stadia League more attractive to investors PERHAPS it is pertinent that the Premier League’s emphatic return to profitability after 15 years is confirmed on the day that its club chiefs meet to discuss decisions that could shape the next decade or more. Today in London Football Association chairman Greg [...]
UK construction boom close to pre-crisis level November 9, 2014 THE CONSTRUCTION industry continues to make impressive headway as the sector soars towards pre-crisis levels of output, a set of data shows today. The majority of firms are reporting rising output. The net balance – the per cent of survey respondents answering positively minus those answering negatively – of building contractors that said output rose [...]
Building boom losing steam December 2, 2014 THE CONSTRUCTION sector’s rapid expansion slowed in November, new data shows. The purchasing managers’ index – a survey of private sector firms – dropped from 61.4 to 59.4 in November, according to figures released by Markit yesterday. The figure is above 50 and so signifies an expansion. However, it is the lowest growth registered for [...]
Mark Carney: Stress test proves banks are “significantly more resilient” December 16, 2014 Mark Carney, the governor of the Bank of England (BoE), has said the results of today’s stress tests prove the new-found resilience at the core of the banking sector. Seven banks and Nationwide building society were tested, with only one, Co-operative Bank, failing. The test scenario was considered especially harsh and included two years of [...]
It’s time the City – and the UK – show support for a capital markets union February 18, 2015 Few people have anything good to say about the European economy. The pipes, they say, are clogged up – and even if they can be unblocked, they are rusting away. Brussels is normally seen either as a blockage, or as a hapless plumber who can’t figure out a solution. But work is progressing in Brussels [...]