A bold pro-growth strategy could set the UK’s housing market free October 16, 2012 BY 2025, China will have 221 cities with over 1m inhabitants, adding more than 350m to its urban population. In response, 40 billion square metres of new floorspace will be built. In contrast, here in London, there is a dynamic underground housing market for beds in sheds in Thornton Heath, Southall, and Stratford. Despite pressing [...]
A bold pro-growth strategy could set the UK’s housing market free October 16, 2012 BY 2025, China will have 221 cities with over 1m inhabitants, adding more than 350m to its urban population. In response, 40 billion square metres of new floorspace will be built. In contrast, here in London, there is a dynamic underground housing market for beds in sheds in Thornton Heath, Southall, and Stratford. Despite pressing [...]
Nationwide to scrap interest-only loans October 4, 2012 ONE of the UK’s biggest mortgage lenders yesterday said it would withdraw interest-only mortgages to future homeowners from next week, in a further sign of the squeeze on higher risk lending. Nationwide Building Society, the third biggest mortgage lender in the country, wrote to brokers yesterday saying it would stop offering the mortgage on 11 [...]
What the other papers say this morning September 23, 2012 FINANCIAL TIMES Banks to shed €20bn property loans Europe’s banks are on track to dispose of €20bn worth of loans backed by offices, shops and hotels this year as lenders across the continent race to reduce exposure to the volatile real estate sector ahead of tough regulatory changes. Banks including Lloyds Banking Group, Santander and [...]
Nuclear blow as Areva fails to bid for site October 3, 2012 BRITISH nuclear power project Horizon has attracted just two bidders, after Areva and China Guangdong Nuclear Power (CGNP) dropped their joint approach, a source said yesterday. Offers rolled in on Friday for Horizon, which was put up for sale by RWE and E.ON in March. But Areva confirmed yesterday that it and CGNP did not [...]
Nuclear blow as Areva fails to bid for site October 3, 2012 BRITISH nuclear power project Horizon has attracted just two bidders, after Areva and China Guangdong Nuclear Power (CGNP) dropped their joint approach, a source said yesterday. Offers rolled in on Friday for Horizon, which was put up for sale by RWE and E.ON in March. But Areva confirmed yesterday that it and CGNP did not [...]
EU review wants to ringfence investment banking October 2, 2012 EU advisers have recommended that banks should separate deposit taking activities from trading and other riskier operations in a report released today. Proprietary trading of securities and derivatives should be legally separated from retail banking with the objective of reducing “systemic risk” in banking activities, it said. The advisory group led by Bank of Finland [...]
Retail banks have changed – but don’t blame investment banking November 4, 2012 AT A recent debate, the Bank of England’s Andy Haldane called for a culture change in retail banking. He claimed that a structural separation of retail banking from investment banking would end damaging cross-contamination. Retail banking could return to its roots in relationship management and judgement, based on local knowledge. But Haldane’s comments were based [...]
Rapid Responses September 6, 2012 No to Boris Island [Re: Which is the best option for expanding airport capacity?, yesterday] Boris Johnson calls a third runway at Heathrow “simply mad”, but the phrase more obviously describes his own proposals for a Thames Estuary airport. Adding a third runway to an airport such as Heathrow, with its existing infrastructure, is incomparably easier, [...]
Rapid responses August 19, 2012 Rental promise [Re: Boris needs to be innovative to get the private sector building houses, Friday] Yes, London needs more homes. But it specifically needs more affordable rental homes. With record rents being reported in the capital, it’s only by increasing rental housing stock, and building property specifically designed for long-term rent, that we will [...]