A hard Brexit could be “crippling” to housebuilding in London, Sadiq Khan has warned February 27, 2017 London mayor Sadiq Khan has warned almost a quarter of London's construction workforce is facing an uncertain future ahead of Brexit negotiations. Pressing the case for retention of skilled workers as a key priority in Brexit talks, Khan today argued the loss of London's 95,000 European construction workers would have “a seriously detrimental effect” on [...]
Government cuts discount rate: Experts react to move by justice secretary Liz Truss and warn on implications February 27, 2017 The government's decision to slash the insurance discount rate caught most of the sector's largest firms by surprise this morning. In particular, large motor insurers such as Direct Line (shares dropped by more than six per cent) and Admiral (down more than two per cent) were hit. [stockChart code="DLG" date="2017-02-27 15:08"] What is the discount rate? The [...]
Don’t compare Marine Le Pen to Brexit and Trump: The Front National doesn’t have a chance February 27, 2017 The two-month countdown to the French presidential election has ushered in an air of nervousness among investors who are worried about being wrong-footed by another populist upset in Europe. The fact that Marine Le Pen, the candidate of the far-right National Front, is borrowing on familiar themes of putting France First and pledging to hold [...]
Network Rail bags £743m for retailers in its stations in 2016 February 27, 2017 Retailers in Network Rail stations cashed in on commuters' Christmas shopping last year, boosting sales by 3.7 per cent in the final quarter of 2016, bringing the total sales to £743m. In the quarter, shoppers spent nearly £185m in Network Rail stations, such as Paddington, King's Cross, Manchester Piccadilly and Liverpool Lime Street. Read more: Retail sales bounce [...]
UK property sector pays tribute to the late Irvine Sellar February 27, 2017 Irvine Sellar, the man who built the Shard, has passed away after a short illness, aged 82. The news has come as a shock to many in the property industry, with tributes pouring in to honour the man who built the UK's tallest building during a recession. Nick Candy, chief executive of Candy Capital, said: [...]
HS2 delays controversial contract award to CH2M as it meets Mace for talks February 27, 2017 HS2 will meet Mace for talks after the construction company lost out on a £170m contract for work on the £55.7bn rail project and has been mulling a legal challenge as a result. The government-owned developer HS2 Ltd has now delayed the formal award of the contract, while it meets Mace for talks. These are expected to take place [...]
Inflation and business rates to deliver £6.8bn hit to small businesses February 27, 2017 Inflation and business rate rises could deliver a £6.8bn hit to small and medium-sized businesses this year. The rising costs are leading more than half (57 per cent) of these firms to predict their revenues will not grow this year, according to a report from insurance group RSA. Fourteen per cent of small and medium [...]
There are now 11 house-hunters for every property on the market February 27, 2017 The UK's housing crisis is getting worse, new figures have suggested – with 11 house-hunters vying for every property on the market. Research by the National Association of Estate Agents (NAEA) suggested an average of 425 prospective buyers were registered to each estate agent branch in the UK in January, 10 per cent higher than [...]
Peugeot has unveiled its Instinct concept: A driverless car featuring a virtual assistant February 27, 2017 Peugeot has provided insight into its driverless ambitions with the unveiling of its Instinct concept. It's a shooting brake style which provides the option of "fully autonomous driving". The car features both drive and autonomous modes though, offering the driver the choice of four different settings. And of course, it doesn't just stop at "driverless" when [...]
LSE-Deutsche Boerse merger thrown into chaos: Reactions from City analysts and Westminster February 27, 2017 Last night's announcement that the mega-merger between the London Stock Exchange (LSE) and Deutsche Boerse may have been derailed entirely by competition concerns in Europe has left the City reeling. The £21bn merger, which had overcome the potentially devastating hurdle of Brexit without so much as a shrug, was thrown into chaos last night after it [...]