Average mortgage repayments approaching 33 per cent of monthly income akin to 2008 financial crash levels May 25, 2022 Homeowners are spending more to live in their house than at any point in the last 15 years, with mortgage repayments equalling almost 33 per cent of monthly income. The cost of living crisis and increase in interest rates has put renewed pressure on property-owners, with house prices soaring and the cost of repayments nearing [...]
Homes more affordable but borrowers stretched by rising mortgage costs August 23, 2023 The cost of a typical house is 6.7 times average earnings in Britain despite the recent slowdown in the property market, according to new figures. Mortgage lender Halifax said this is down from a record high of 7.3 times average earnings last summer, when a UK home cost an average £293,586 and the average annual [...]
Banks to avoid surge in delinquency even as average interest rate on credit card hits highest level this millennium July 19, 2023 The average rate of interest on UK credit cards hit their highest level in nearly 30 years last month, but experts suggested there would not be a surge in delinquencies. According to Bank of England data, the average rate of interest on a credit card surpassed 23 per cent in June for the first time [...]
Freezing green levies won’t relieve pressure on bills but we must make them equal August 9, 2022 The cost of living crisis has continued to be a major worry for people across the country and a key talking point during the Conservative leadership race. Rising energy prices, partly due to the Russian invasion of Ukraine, have significantly fuelled the crisis. As the energy price cap is expected to rise to over £3,300 [...]
Fish and chip-per: ‘Classic’ pub grub leads the way for Marston’s surging sales July 26, 2023 Marston’s thanked warmer weather in June and appetite for classic pub like fish and chips grub for a surge in like-for-like sales for the 16 weeks ended July. Unusually hot spells at the start of summer drove customers to pubs, with more people drinking and dining out hiking like-for-like sales by 10.9 per cent. Group [...]
DS Smith: Inflation can’t keep profits boxed up for Amazon cardboard provider June 22, 2023 DS Smith reported soaring profits and trading in line with expectations in its full year results this morning, as the package specialist continued to show strong resistance to high inflation and rising paper costs. The London-listed group – which delivers boxes and paper products to companies including Amazon and Brewdog – saw pre-tax profits up [...]
Revealed: Matalan lost over £100m as lenders took control March 6, 2024 Matalan lost more than £100m in the year it was taken over by its lenders, newly-filed accounts have revealed.
Retail investors poised to spend near £100m on Oxford Street this year August 7, 2023 Retail investment in central London is expected to exceed £1bn this year, with up to a tenth of that set to be spent on Oxford Street, raising fresh hope for the future of the London shopping destination. Some £810m was splurged on retail investments across London in the first half of the year, new figures [...]
Old Vic Theatre: £20m needed to keep historic London venue running ‘a challenge’ June 12, 2024 The Old Vic Theatre said it faces a challenge to raise the more than £20m needed to keep its historic Waterloo home in working order, as it battles to create a financial model robust enough - despite the success of its record breaking musical Groundhog Day.
Startup Spotlight: Jnck Bakery May 17, 2023 Jnck Bakery was founded by brothers Sean and Alex Brasill in 2021 as a passion project focused on the UK obesity crisis and lack of healthy food innovation. Seeing an opportunity to create something that makes a positive difference – and tasted good – they created the world’s first HFSS-compliant cookie. Now halfway through their [...]