London’s office market is “highly overvalued” and set for a correction, ratings agency Fitch says October 20, 2017 A leading ratings agency has said London’s overvalued office market is set for a correction next year due to Brexit uncertainty. Fitch Ratings said the core London office market had cooled since the Brexit vote last year, but it remains “highly overvalued”. “Tight office supply has supported prices to some extent, while sterling’s weakness has [...]
UK inflation rises, adding to pressure on rates October 20, 2017 | City Talk There are two key domestic issues this week for UK financial markets. One is the latest inflation news and the implications for interest rates. The second is the ongoing Brexit discussions and what might the latest phase imply for settling. Let's focus here on the inflation news. This week's data release showed that inflation rose [...]
Listen up, nerds: These are the UK’s best paying tech jobs October 20, 2017 Tech may be trendier than banking, but it looks like its salaries are beginning to catch up too. New research by salary benchmarking website Emolument has suggested those with much-needed tech skills can "name their price" as companies scrabble around to find people with the right experience. The best-paid jobs in UK tech are so-called [...]
Holiday Homes in Porto, Portugal: We scout out the bargains October 20, 2017 The snaking queues of tourists outside Porto’s 19th century Livraria Lello bookstore are not people seeking a good read. They’re tourists wanting to glimpse the second floor café where JK Rowling wrote Harry Potter and the Philosopher’s Stone while raising her daughter and teaching English in the City. Potter fans believe the shop’s spiral art [...]
Childcare costs in London are rising seven times faster than wages, according to Trades Union Congress October 20, 2017 Childcare costs have risen up to seven times faster than wages since 2008, according to new research. The average cost of childcare in England for parents of a one-year-old rose 48 per cent between 2008 and 2016, with a wage increase of only 12 per cent in cash terms over this time. London took the [...]
Brent crude and West Texas Intermediate (WTI) oil prices sink on profit taking and easing tensions in Iraq October 20, 2017 Oil prices dropped below key levels today as tensions in the Middle East eased and investors looked to take profits. Brent crude oil futures dropped 0.8 per cent to $56.77 a barrel while US benchmark West Texas Intermediate (WTI) prices fell 0.99 per cent to $50.78 a barrel. Malcolm Graham-Wood, analyst at Hydrocarbon Capital, said [...]
Uefa figures reveal Leicester banked more money from Europe last season than Champions League winners Real Madrid and Europa League winners Manchester United October 20, 2017 Leicester City made more money from playing in Europe last season than Champions League winners Real Madrid, new figures from Uefa reveal. The European football governing body has published the exact sums earned in prize money and TV payments by clubs playing in the Champions League and Europa League last season. Leicester, currently in the [...]
Chancellor Philip Hammond gets good news as lowest borrowing since 2007 boosts Treasury ahead of squeezed Budget October 20, 2017 Government borrowing has fallen to its lowest level year-to-date since before the financial crisis, delivering some welcome relief to chancellor Philip Hammond, who is otherwise expected to have limited room for manoeuvre in the upcoming Budget. Public sector net borrowing (excluding state-owned banks) decreased by £2.5bn to £32.5bn in the financial year from April to [...]
Pound sterling fallen against the dollar as Bank of England deputy governor Sir Jon Cunliffe hints he’ll vote against a rate hike in November October 20, 2017 The pound continued on its downward trajectory against the dollar this morning, after comments from the Bank of England’s deputy governor put a question mark over the chances of an interest rate hike in November. In an interview with the BBC, Sir Jon Cunliffe argued most of the inflation the economy is currently experiencing is [...]
Bank of England needs more diversity Treasury Select Committee head Nicky Morgan tells chancellor October 20, 2017 The Bank of England needs to improve “diversity at the most senior levels”, according to a letter written today to the chancellor by the influential head of the Treasury Select Committee, Nicky Morgan. Morgan said: “The Treasury must make all efforts to encourage as diverse range of candidates for the Bank’s policy committees as possible.” [...]