Energy demand to outpace National Grid supply in 2016 – Centre for Policy Studies November 18, 2015 The closure of energy plants across the country means the UK is on the verge of an energy crisis, according to a report published by the Centre for Policy Studies today. Coal-fired plants due to close in March next year mean that the 54,000 megawatts of forecast demand will not be covered by the National [...]
2030: A British space odyssey November 18, 2015 THE VALUE of the British space industry has the potential to rocket to £40bn in 15 years, creating 100,000 new jobs in the process, but the government risks holding the sector back with restrictive regulations and insufficient investment, a report out today has warned. The UK's booming space sector is currently growing by around nine [...]
UK house prices: Generation rent to fall further from the property ladder as only one in four will own a home by 2025 November 17, 2015 In ten years time only 26 per cent of so-called “generation rent”, those aged between 20 and 39, will own their own homes according to a study by accountants PwC. In 2013, 38 per cent of those in that age group had bought a house. The amount of 20-39 year olds renting privately by 2025 [...]
Reduced buy-to-let tax relief causing concern for UK landlords November 17, 2015 The fall in landlord buy-to-let tax relief is a major factor for 50 per cent of all landlords currently looking to sell, according to a survey by estate agents Your Move and lettings agent network Reeds Rains. In the summer budget George Osborne cut buy-to-let tax relief to the 20% basic rate. Despite most of [...]
London rent price rise 2015 defies traditional Autumn slow down November 17, 2015 London rents continued to climb in October, up 0.8 per cent, hitting an average of £2,063 despite the seasonal slowdown usually associated with Autumn months. The data suggests that London’s housing shortage, falling unemployment rate, and growing pay is the cause, according to the analytics company MIAC in its monthly Landbay Rental Index. So far [...]
Time limit on financial charges could save ex-HBOS bankers millions November 15, 2015 A long-awaited report into the collapse of HBOS is not expected to bring financial sanctions against any of those involved, due to a six-year time limit on the regulator bringing charges on information received. The delayed report, due Thursday, is set to criticise the management and regulators responsible for the bank’s taxpayer bailout in 2008. HBOS [...]
Mark Carney warned over gilt market instability risks November 15, 2015 A decline in bond market liquidity could threaten financial stability, the chairman of the Treasury select committee has warned. Treasury chairman Andrew Tyrie has written to Bank of England governor Mark Carney, laying out his concerns and asking for the Financial Policy Committee's view on the risk of declining liquidity in the bond market. Tyrie highlighted particular [...]
FirstGroup first half profits slide following franchise misstep November 12, 2015 ​FirstGroup, operator of buses and trains in the UK and the US has said pretax profit dropped by a third in the first half year-on-year, down to £22.4m from £33.3m. Group revenue for the half was down 17 per cent to £2.44bn, in line with its expectations. The group’s share price is trading up by [...]
Punch Taverns more than halves yearly losses November 12, 2015 Pub group Punch Taverns, owner of around 3,500 pubs nationwide, has narrowed its yearly losses by over half to £105m, from £240 million a year earlier. Refinancing of debt with a charge of £166m and the falling value of its real estate was mostly to blame. Shares in the pub company have fallen today by [...]
Cyber attacks rise for EE following TalkTalk hack November 12, 2015 Mobile operator EE has had to fend off an increased number of cyber attacks since TalkTalk revealed it had 15,000 customers financial details stolen. EE chief executive Olaf Swantee told City A.M.: Since the TalkTalk breach we have seen heightened activity from criminals and people who want to access our system. “We have successfully prevented [...]
