Bank of England hints at interest rate hike in committee minutes June 18, 2014 The minutes of the UK's interest-rate setting committee show signs that an interest rate hike could finally be approaching. Members of the Monetary Policy Committee (MPC) voted unanimously to hold policy at its 5 June meeting, keeping interest rates at their historic lows and the level of asset purchases unchanged. But the minutes yet again [...]
Average age of UK house buyer has fallen to 36 May 12, 2014 THE AVERAGE age of a home buyer dipped in April, falling as the housing market recovers and signalling that the onset of new mortgage rules is not having a major effect on sales. Across the UK, the typical home buyer is now 36 years old, according to research released today by Mortgage Advice Bureau (MAB). [...]
CNBC Comment: Questions for Carney: One year on June 23, 2014 BETTER a lucky governor than one that’s always right. At least, that’s what Mark Carney will be hoping for as he faces MPs today – almost a year to the day since he took over at the Bank of England. After all, the Treasury Select Committee could find plenty of things to quiz Carney about. [...]
Create your grand design inside an Edwardian factory June 5, 2014 PROPERTY brochures are often packed with glossy computer generated images depicting pavement café culture at its peak on a summery afternoon in June. But the promotional material for Loud and Western on the Broughton Road in Fulham is stark and bare. The first four houses went on the market yesterday in what’s known in the [...]
EU could impose new hard-hitting sanctions on Russia by Thursday July 22, 2014 European foreign ministers failed to agree on fresh hard-hitting measures aimed at the Russian economy today, however new sanctions including capital restrictions could be announced by Thursday if Moscow does not cooperate on the MH17 crash investigation. Under growing pressure from the US, which says plane was brought down by a surface-to-air missile fired by pro-Russian [...]
City Moves for 22 July 2014 | Who’s switching jobs July 21, 2014 PwC George Stylianides has been appointed leader of PwC’s financial services risk and regulation practice. He is taking over from Julie Coates, who is returning to Australia after four years in the UK. Stylianides has over 25 years’ experience working in financial institutions. Natixis Global Asset Management The asset manager has announced four appointments to [...]
Labour’s cities plan marred by statistics row July 1, 2014 LABOUR leader Ed Miliband’s plan to devolve financial power to cities and regions around the UK was marred yesterday by a row over statistics. Miliband launched the policy in Leeds with Lord Adonis, following a year-long review into how to boost the UK’s regional economies and bring them into line with London. The pledge could [...]
House sales jump as Help to Buy kicks in November 6, 2013 British house building company Persimmon has posted an increase in weekly private sales of 45 per cent in the third quarter. The firm attributed a large part of the stronger growth to the government's Help to Buy scheme, which the company says "has proved particularly attractive." Persimmon sold 3,000 homes under the first phase of [...]
House supply shortfall set to push prices higher May 1, 2014 HOUSE prices are now surging upwards at double digit rates across the country, as a Bank of England deputy governor indicates that the climb is set to continue. Sir Jon Cunliffe’s speech in London yesterday suggested that the lack of houses and ongoing recovery could continue to push prices up. “There is good reason to [...]
Letters to the Editor – 26/06 – Making work pay, Choose Gatwick, Best of Twitter June 25, 2014 Making work pay [Re: Significantly extending the Living Wage is not the best way to help the poorest, yesterday] As the cost and complexity of hiring low-paid workers continues to rise, so does the grey market for labour. We need to accept that there is a limit to what the government can do to solve [...]