Bank of England hits out at BIS report warning over low interest rates July 16, 2014 Recent international warnings on low interest rates from the Bank of International Settlements (BIS) were criticised yesterday by UK policymakers, who suggested the central bank hub was operating in a bubble secluded from political reality. Bank of England governor Mark Carney said that the report had been written in “the vacuum of Basel”, [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]
International tensions heighten cyber security risks for business July 23, 2014 Heightened geopolitical tensions are increasing the risk of cyber attacks, an international cyber security expert has warned. As the the downing of MH17 and the ongoing hostilities in Gaza deepen global tensions, Malcolm Marshall, UK and global lead in KPMG’s cyber security practice, says that cyber attacks are rapidly becoming the new battleground of international [...]
Miliband’s swipe at landlords is no comfort for UK renters April 30, 2014 THE UK’s housing crisis is no secret, and political solutions are offered two a penny. Unfortunately, Ed Miliband’s plan to limit rents is perhaps the one thing that can be relied upon to make the situation worse for Britain’s renters. Like any price ceiling, Labour’s pledge will reduce available supply, as rents are capped below [...]
Gimme 5 … Wonders of property tech May 8, 2014 Barclays Pingit App A partnership between Barclays and estate agent Savills led to the first house being bought by app at auction in February. The buyer transferred a £23,000 deposit in seconds by scanning a Savills QR code into the app. Available for free on Android and iTunes, Savills now uses it at every national [...]
Why Miliband’s rent control plan isn’t just some harmless gimmick May 1, 2014 TO DEAL with the problem of escalating rents, Ed Miliband plans to introduce what amounts to a variation of “second generation rent controls” (SGRCs). Under SGRCs, landlords are free to set rent levels at the outset of a tenancy, but are restricted in their ability to raise them during the term. In Miliband’s specific version, [...]
Why Miliband’s rent control plan isn’t just some harmless gimmick May 1, 2014 TO DEAL with the problem of escalating rents, Ed Miliband plans to introduce what amounts to a variation of “second generation rent controls” (SGRCs). Under SGRCs, landlords are free to set rent levels at the outset of a tenancy, but are restricted in their ability to raise them during the term. In Miliband’s specific version, [...]
Netflix prepares to launch in six more countries May 21, 2014 ONLINE video streaming service Netflix will expand across Europe this year as it plans to launch in six more countries in late 2014. Netflix said the service would launch in Germany, Austria, Switzerland, France, Belgium and Luxembourg, but did not disclose details on the programming or pricing for each country. Netflix, which already operates in [...]
London Report: Fall in financials brings London’s market down July 28, 2014 THE FTSE 100 yesterday ended down after weak US housing data discouraged investors in America and Europe during a data-light European day. The blue chip index lost 0.1 per cent to close at 6,788.07. Earlier in the day it had traded as high as 6,809.61, but moved lower together with other markets after pending home [...]
Business lending falls at sharper rate despite continuing recovery May 1, 2014 THE BANK of England announced yesterday that business lending is still declining, and more quickly than in earlier months. Net lending to the UK’s non-financial firms dropped by £2.3bn between February and March, the fastest fall since November. The continued decline in lending to companies comes despite solid economic growth in the first quarter of [...]