British Gas blames regulation for 9pc hike in energy bills October 17, 2013 THE UK’S energy debate was ignited again yesterday, after British Gas said it would be raising customers’ bills by 9.2 per cent from 23 November – adding £104 on to the average annual dual fuel bill – and blamed the government’s green initiatives for almost half of the increase. Centrica, which owns the big six [...]
Better weather means B&Q owner sees profit up in second quarter September 11, 2013 Retail group Kingfisher, who own companies including B&Q and Screwfix, have seen a statory pre-tax profit increase of 10.2 per cent in the 26 weeks up to 3 August (up £401m from £364m for the same period last year) (Release). CEO Ian Cheshire puts the increase down to better weather, commenting on the effect of [...]
UK productivity improves significantly in second quarter September 27, 2013 The graph shows whole economy output per worker in terms of percentage changes on theprevious quarter and on the previous year. Based on output per hour, UK labour productivity went up 0.5 per cent in the second quarter of 2013, having been flat in the first quarter. This was the first quarter on quarter increase [...]
Estate agents: Help to Buy is boosting prices August 7, 2013 THE GOVERNMENT’S flagship scheme to stimulate the housing market is pushing up prices, estate agents warned yesterday, despite new Bank of England governor Mark Carney playing down the risk of a housing bubble. Homes in the Greater London area will shoot up by 6.9 per cent in value this year, according to Cluttons, while annualised [...]
Economics prize given to asset price professors October 14, 2013 THE 2013 Nobel prize in economic sciences was awarded yesterday to three American economists for their roles in understanding asset prices. Professors Lars Peter Hansen and Eugene Fama of the University of Chicago, and professor Robert Shiller of Yale University, were awarded the prize for this year. The Royal Swedish Academy of Sciences, which makes decisions [...]
Rising lending sparks surge in house prices August 12, 2013 THE PROPERTY market is steaming ahead of the rest of the economy, as mortgage lending and a surge of buyers in July drive the UK’s emerging recovery. Figures revealed today show that July saw the largest rise in house prices since before the crash, after statistics out yesterday confirmed that lending to first-time buyers [...]
More signs of July’s housing market boom August 14, 2013 AS HOUSING markets in the UK begin to heat up, Mortgage Advice Bureau (MAB) has revealed that July was the busiest month in the brokerage’s 13-year history. MAB announced that there had been an 82 per cent increase in mortgage business between July 2012 and last month, with July this year seeing £554.7m worth of [...]
CNBC Comment: Guidance disbelief may force Bank action September 16, 2013 IT’S ANOTHER big week for UK economy watchers, as questions remain about the quality and sustainability of the current rebound. After a miserable 2012, more optimistic economic forecasts should be warmly received. But there’s still doubt about whether a recovery that’s been helped by housing and a consumer upturn can lead to strong investment-led growth. [...]
A village in the heart of London October 10, 2013 It’s a tale of two towns with Clapham, but this new property in the Old Town allows residents to sample the best of both worlds CLAPHAM is the Dr Jekyll of south London districts. By day, it’s as genteel as you like. Well-to-do mothers crowd the streets, sipping good quality coffee while gently rocking babies [...]
Productivity is 16 percentage points below G7 average – the widest gap since 1993 September 18, 2013 Compared with the other major industrialised economies, UK output per hour was 16 percentage points below average in 2012. Output per worker basis came in at 19 percentage points lower than the average for the rest of G7 for 2012, according to latest figures from the Office of National Statistics (ONS). Both output per hour [...]