FTSE rally eludes UK grocery giants January 2, 2013 SUPERMARKET chains Morrisons and Sainsbury’s failed to make the most of UK investors’ New Year optimism yesterday after analysts raised fears that their performance had been less than stellar over the crucial Christmas trading period. Morrisons was one of just three fallers in the FTSE – closing down two per cent – after house broker [...]
Hunt asks City to provide cover for old age care February 11, 2013 HEALTH secretary Jeremy Hunt yesterday called on the City to help solve the funding crisis in long term care by providing new savings products, as he confirmed care fees would be capped at £75,000 for the elderly from 2017. “People will need to prepare and plan for social care costs as much as people prepare [...]
New owners of Virgin Media to avoid TV war February 6, 2013 VIRGIN Media’s new owners yesterday pledged business would continue as usual, despite the telecoms firm’s chief executive announcing he would step down. After signing a $23.3bn (£14.9bn) agreement to buy the company, bosses at Liberty Global played down suggestions of massive investments in TV rights that would heighten Virgin Media’s competition with Rupert Murdoch’s BSkyB. [...]
Highest number of first time buyers in London since 2009 November 26, 2012 TEN thousand first-time buyers took out a mortgage in London during the third quarter of the year, according to Council of Mortgage Lenders (CML) data out yesterday. The figure was the highest on the CML’s records since the fourth quarter of 2009, yet its research also revealed significant barriers to getting on the property ladder [...]
Rightmove traffic moves upward May 9, 2012 Property website Rightmove has reported a growth in advertising revenue for the first four months of the year on higher ad rates and a 20 per cent rise in internet traffic compared to a year ago. Rightmove said it was confident of meeting its expectations for 2012 if the UK housing market doesn’t decline significantly. [...]
Surveys reveal housing sector activity boost November 12, 2012 THE UK’S ailing housing sector has begun to show signs of life, according to two widely-regarded reports released yesterday and this morning. Interest in residential properties from potential buyers grew at its fastest rate for nearly three years in October, the Royal Institution of Chartered Surveyors (RICS) revealed this morning. The number of agreed sales [...]
UK employment figures likely to show a rise in claimants last month December 9, 2012 UK employment figures are this week predicted to remain steady, in line with the weak economic background. “We forecast the October unemployment rate unchanged at 7.8 per cent and the November claimant count to increase by 6,400,” said Blerina Uruci from Barclays. Investors will this week be looking to America, where the Federal Reserve is [...]
UK house prices fall in October November 6, 2012 UK house prices fell 0.7 per cent in October, Halifax said today. On an annual basis, property values fell 1.7 per cent. In the three months to October, prices were 1.2 per cent lower than in the previous quarter, the fifth successive decline, Halifax said. Martin Ellis, housing economist at the lender, today said: “The [...]
Social mobility is a problem for British business to resolve January 14, 2013 ECONOMISTS tell us that the worst may be over. After a double-dip recession, unemployment is dropping, the FTSE has made a confident start to the year, banks are showing an increased willingness to lend, there are indications of life in the housing market, and there are some signs of growth. But even the most optimistic [...]
Goldman and JP Morgan help boost Wall St January 16, 2013 THE S&P 500 ended nearly flat yesterday as solid earnings from two major banks and a bounceback in Apple shares offset concerns about a lower forecast for global growth in 2013 (see UK report). Shares of Goldman Sachs hit their highest since May 2011 as earnings nearly tripled on increased revenue from dealmaking and lower [...]