Consumer sentiment climbs on back of housing market boost September 22, 2013 CONFIDENCE in the economy is still rising among consumers, with a survey released today showing the strongest sentiment since it began three years ago. Lloyds’ consumer sentiment index has risen by 10 points since the start of the year, rising from 105 to 115, fuelled by an increase in housing market activity. Overall, 18 per [...]
What the other papers say this morning – 21 November 2013 November 20, 2013 FINANCIAL TIMES Obama snubs Fannie-Freddie plan The White House came out against a proposal by a group of hedge funds to take over and recapitalise the core operations of Fannie Mae and Freddie Mac, the US mortgage finance giants, saying it risked creating two new “too big to fail” institutions. Gene Sperling, the White House [...]
Treasury to tax overseas buyers of UK property October 31, 2013 GEORGE Osborne is considering a tax raid on overseas investors who own British property, it was reported yesterday, in an attempt to raise millions of pounds. The plan would require non-UK-based real estate owners to pay capital gains tax (CGT) on British property, according to Sky News. At the moment only UK residents pay the tax to HMRC. Many [...]
RBS managers to take reins of £1.1bn fund November 26, 2013 INVESTMENT managers at RBS are planning to take control of the bank’s Special Opportunities Fund with the aim of returning the unit to growth, it emerged yesterday. The unit, 13.5 per cent owned by the bank, has been administered by the lender since it was created but has been in its non-core portfolio since 2008. [...]
Bank capital rules are holding back a credit binge – but also our recovery November 11, 2013 THE RECENT run of better-than-expected economic data and the government’s Help to Buy scheme have sparked talk of a return to credit-fuelled boom and bust. Some have joined renowned monetary policy hawk Andrew Sentance, a former member of the Bank of England’s Monetary Policy Committee, in calling for interest rates to rise sooner rather than [...]
Mortgage numbers rise to February 2008 highs September 30, 2013 Mortgage numbers have swelled in the UK this August – hitting 66-month highs. They're up from 60,624 to 62,226 in a single month, above analyst estimates of a rise to 61,500. That's before the accelerated second stage of Help to Buy even kicks in. Yet at 62,226, mortgage approvals stand at 73.5 per cent of [...]
Marshall Wace pays out £84m as fees jump December 4, 2013 HEDGE fund manager Marshall Wace paid out £83.6m to its members this year after the London firm enjoyed another year of soaring income. Profits divided among members jumped 76 per cent to £83.6m in the year to February, compared to a 20 per cent rise to £47.3m in the previous year. Almost 70 per cent [...]
Arts and lifestyle highlights for the next twelve months January 5, 2014 From Glastonbury to Shakespeare to Matisse, you won’t be short of things to do in 2014 MUSICArcade Fire confirmed as headliners for Glastonbury 2014The Glastonbury 2014 lineup is being kept under-wraps until summer, but that hasn’t stopped rumours surfacing thanks to loose-tongued artists and hints dropped by organiser Emily Eavis. Arcade Fire instigated a flurry [...]
Five shocks that could hit businesses over the next few years November 26, 2013 BUSINESSES are often very good at predicting the trends in their own, narrow markets – but they are not always able to see the big picture clearly. So here are five possible shocks that firms and investors should look out for over the next three or four years. 1) THE SCOTTISH REFERENDUMA break-up of the [...]
The owner of the Dorchester Hotel posts five-star revenue November 4, 2013 THE OWNER of London’s Dorchester Hotel and nine other luxury sites across the world has bucked the tough consumer market to post record sales last year. The Dorchester Hotel Group, which also runs the Beverley Hills Hotel in Los Angeles and 45 Park Lane – the former site of London’s Playboy Club – reported a [...]