Exclusive: Small business owners on what is happening in the real economy March 24, 2021 The City was hit with some sobering figures earlier this month, as official data showed UK GDP shrank by a staggering 9.9 per cent in 2020, the largest drop on record. The figures were less bad than expected, which led PwC to conclude that British businesses are becoming more adaptable to lockdowns from an economic [...]
Housebuilder stocks soar as property prices climb another £3,000 to new record high June 7, 2021 House prices in the UK rose again last month by around £3,000, bringing the average property price up to a record high of £261,743. May’s 1.3 per cent price increase means the average home in the UK has increased by more than £22,000 – or 9.5 per cent – in the last 12 months, according [...]
This morning: Silver receives Gamestop treatment on Reddit February 1, 2021 Silver shines this morning as the metal is experiencing a rise in demand thanks to postings on Reddit, targeted in a similar fashion as Gamestop last week. What silver is going through this morning is the same rude awakening financial markets received last week when a swarm of retail investors, who were chatting with each [...]
UK business borrowing forecasts fall by £7bn on recovery hopes May 10, 2021 Forecasts for UK business borrowing have been slashed as the economy rebounds from the Covid-19 pandemic more quickly than anticipated. Banks are set to lend £19bn to British companies this year, up four per cent year on year but down from the £26bn forecast in February. Growth is set to slow further in 2022 to [...]
Mortgage approvals soar to 13-year high as UK housing market booms October 29, 2020 Mortgage approvals jumped again in September to hit a 13-year high as pent-up demand and the stamp duty holiday fuelled the housing market despite the economy’s fragile state. Approvals of mortgages for house purchase rose sharply to 91,500 in September from 85,500 in August, the Bank of England said today. Analysts had expected the number [...]
Sainsbury’s mulls sale of banking division October 31, 2020 The new Sainsbury’s boss is reportedly planning a sale of the supermarket’s banking arm as the impact of near-zero interest rates hit. The supermarket launched the bank in 1997 and now boasts more than 2m customers across a range of products including mortgages, home insurance and credit cards. But medium-sized banks are facing pressure as [...]
Not all sellers are equal — why cladding changes are urgently needed to free up the UK property market October 1, 2020 According to Rightmove, people searching for a home in a village jumped by 126 per cent in June and July compared with the same period last year. That figure should not be surprising, given that if you’ve been cooped up in a smaller flat, with less living space because you thought most of your time [...]
UK house prices grew at fastest rate since 2015 in November December 1, 2020 UK house prices grew at an annual rate of 6.5 per cent in November, the fastest rate since January 2015, as the sector batted off the second national lockdown. According to Nationwide’s house price index, prices also increased on a month-on-month basis to be up 0.9 per cent compared to last November. As a result, [...]
UK house price growth slowed in January as buyers paused due to new lockdown March 24, 2021 UK house price growth slowed in January compared to the previous month as buyers paused due to the introduction of new lockdown measures and uncertainty over the length of the stamp duty holiday, according to the latest official data. Average house prices increased by 7.5 per cent over the year to January, down from eight [...]
Wall Street dragged down by falling airline stocks August 9, 2021 US benchmarks were dragged down by poor performances among airline stocks this morning as surging Covid cases dampens the outlook for the travel sector. The blue-chip S&P 500 dipped 0.08 per cent to 4,432 points, while the Dow Jones slid 0.24 per cent to 35,123 points. The tech-heavy Nasdaq fared better, jumping 0.19 per cent [...]