Amlin takes a hit as European flood payouts dent bottom line August 19, 2013 INSURER Amlin yesterday announced a fall in first-half profits after floods in central Europe required it make hefty payouts for catastrophe claims. The second biggest Lloyd’s of London insurer declared pre-tax profits of £161.4m for first the first six months of 2013, down 17 per cent on the same period last year. This was mainly due [...]
2013 Christmas quiz – The Answers December 20, 2013 1. Between spring and autumn 2013, which of these countries received the largest upgrade to its 2013 GDP growth forecast from the IMF? a. Indiab. United Statesc. United Kingdom ANSWER – United Kingdom. In April, the IMF forecast the UK would grow by 0.7 per cent in 2013. By October, the IMF had raised this [...]
Stalled productivity poses threats to public services September 11, 2013 THE GOVERNMENT’S performance in the last year has lacked focus on productivity, one of the major challenges to the economy, according to a report published yesterday. Deloitte and think tank Reform’s analysis indicates that the government is also still losing out through fraud and struggling to tackle its long-term liabilities. The report [...]
Chinese buyers poised to step up search for London property February 14, 2013 CHINESE investors’ appetite for London property is expected to increase this year after the Chinese government relaxed rules on offshore investment. Savills said the recent relaxation on the investment of insurance proceeds by the Chinese Insurance Regulatory Commission could result in up to £10bn of new inward investment into London. Research published by the property [...]
Lenders report rise in number of home loans January 16, 2013 MORTGAGE loans ticked up in November, an influential group of lenders said yesterday, with a rise in the number of first-time buyers providing a welcome boost to the figures. The number of loans for house purchases grew by six per cent in the penultimate month of 2012, the Council of Mortgage Lenders (CML) found. Mortgages [...]
A City pro is out to save pensions September 29, 2013 Venture capitalist Edi Truell is injecting private equity thinking to the public sector. Michael Bow hears why. THE HIGH-OCTANE arena of venture capital is not a natural fit for the sedate world of town hall pensions. But just tell that to Edi Truell, the venture capitalist tasked with shaking up London’s £4.6bn public sector pension [...]
Three London schemes given the go-ahead January 16, 2013 AUSTRALIAN property giant Lend Lease has won planning consent for a £1.5bn regeneration scheme in London’s Elephant & Castle area. Southwark Council yesterday approved the scheme, which aims to create 2,500 new homes, shops, restaurants and community facilities by 2025. Lend Lease said the development will create over 5,000 new jobs and the largest new [...]
Credit scheme eats away rates on mortgages February 11, 2013 THE HOUSING market switched up a gear as 2013 began, several sets of data have revealed. Credit costs for a range of mortgage types plunged yet again, according to Bank of England data, suggesting that the government and Bank ’s Funding for Lending Scheme (FLS) has driven funds back into the housing market. The average [...]
British Land ups its dividend on upbeat outlook July 24, 2013 BRITISH Land, the property giant behind the Cheesegrater skyscraper in the City, has raised its dividend in a display of confidence as the economy shows signs of improving. The UK’s second largest listed property firm said yesterday it is raising its quarterly dividend by 2.3 per cent to 6.75p and 27p for the year, “reflecting [...]
Clapham goes Overground December 9, 2012 THE LATEST extension to the Overground opened yesterday, completing an orbital rail route around suburban stations but marking the end of some direct services into central London. The extension from Surrey Quays in the south east to Clapham Junction in the south west creates the capital’s first orbital railway in 128 years. But the opening [...]