Mortgage approvals hit seven-month high but caution lingers as year-on-year growth dips October 1, 2018 The number of mortgages being approved hit a seven-month high in August, suggesting a modest pick-up in buyers after the traditional summer slowdown. According to the latest Bank of England (BoE) statistics out today, mortgage approvals climbed to 66,440 last month, marking the highest level since January 2018. However, housing experts remained cautious on the [...]
The clever science behind consumer promotions at retailers and supermarkets October 1, 2018 You’ve probably never thought twice about consumer promotions – things like Buy One Get One Free (BOGOF), discount coupons, competitions, and prize draws. They’re just another marketing trick to push more products, right? But when you think about it, promotions are kind of odd. Selling two for the price of one means that a company [...]
The longevity dividend: How to make the most of our ageing society October 1, 2018 It is well known that the UK is ageing. In 1976, only 14 per cent of the population was aged over 65, today it is 18 per cent, and in 2036 it is estimated to be 25 per cent. Over the same period, the median age is expected to rise from 34 to 43. The [...]
Danske Bank appoints interim chief exec after boss is ousted following €200bn money laundering scandal October 1, 2018 Danske Bank has appointed an interim chief exec after former boss Thomas Borgen left the firm following news of a €200bn (£177.8bn) money laundering scandal. Borgen announced his resignation last month, after an internal inquiry found that €200bn of payments, many of which Danske said were suspicious, had passed through its Estonian branch over an eight-year period. Its head of [...]
Startups: Would-be entrepreneurs put off by ‘complexity’ of starting own business October 1, 2018 Thousands of young people are being put off from setting up their own businesses, putting Britain's startup revolution at risk, a report has warned. The Great British Enterprise Opportunity report, by former Bank of England economist Steve Hughes, also called for digital education to be prioritised by the government to give people the necessary skills [...]
Aston Martin narrows price range ahead of IPO October 1, 2018 Aston Martin has narrowed the price range for its IPO later this week. The luxury car manufacturer is now set to float shares at between 1,850p per share and 2,000p per share, tightening its previous range of between 1,750p and 2,250p. Read more: Aston Martin staff set for cash reward as it gears up for [...]
Firms risk being left behind in Libor benchmark transition warn bankers October 1, 2018 A lack of awareness of the urgent need to transition away from scandal-hit Libor interest rates means some firms risk not being ready before the benchmarks become defunct, according to a top banker working on the issue. There remains a significant amount of work to educate firms about the far-reaching implications of the shift from [...]
Golden Ferrari goes on sale in first gold-themed auction at Sotheby’s October 1, 2018 A golden Ferrari is expected to sell for up to £450,000 as it goes on sale later this month at auction house Sotheby’s. The 1977 Ferrari 512 BB, which has three previous owners, will be sold at the world’s first auction dedicated entirely to gold. When bought by its most recent owner in 1997 the [...]
Bloom & Wild aims to woo Europe with letterbox flowers, following £15m investment October 1, 2018 Bloom & Wild will expand into new European markets following a £15m fundraiser led by private equity house Piper. The online flower gifting brand aims to become the UK market leader and continue expanding in new and existing European markets. The latest fundraiser will also help the company invest in technology and staff. Founded in [...]
EU to decide on Radisson hotels sale to Jin Jiang in November, European Commission says September 30, 2018 HNA Group will soon find out if its sale of the Radisson hotel chain will be approved after European authorities said they would decide on the case by 6 November. The cash-strapped company, which has offloaded $17bn (£13bn) so far this year to lower debt, agreed to sell its hotel chain to a consortium led [...]