Government has the skeleton of a plan to fix UK housing: Now it needs the drive to actually do it February 7, 2017 The government’s Housing White Paper, released yesterday, was an attempt to get England to the 250,000 new homes a year required to reach housing need. It went in many good directions and created a skeleton of a system that could meet need – but in places it did not go far enough, and perhaps pulled [...]
Back on track? Toymaker Hornby’s sales in line with expectations as shares rise February 7, 2017 Shares in Hornby steamed ahead by as much as 24 per cent in early trading as it said that full year revenues are on track to be in line with expectations. In a trading update, Hornby said: “As previously announced, revenue is expected to decline by around 20-25 per cent this financial year due to [...]
Playtech bets £50m on bingo specialist Eyecon as it looks to bolster content February 7, 2017 Software and services supplier to the gambling industry, Playtech, has purchased Eyecon, an online gaming slots software company, for £50m, including £25m in cash. This represents eight times Eyecon’s current earnings. The addition of Eyecon’s content portfolio is an attempt by Playtech to boost its capacity to provide more content to its customers. Eyecon has [...]
Brits splash out more on whisky than rest of Europe, says Scotch Whisky Association February 7, 2017 The UK is the most expensive place to buy a dram of whisky anywhere in Europe, the Scotch Whisky Association (SWA), has highlighted today. Over one quarter of all the tax on spirits collected in Europe is paid for by Britons due to a domestic tax level, which is higher than the European average. The [...]
Family finance jitters send consumer confidence slumping to three-year low February 7, 2017 Consumer confidence has suffered the biggest single drop in a month, according to a survey released by Moneysupermarket today. According to monthly data collected by the price comparison website, its Consumer Confidence Index, currently stands at 41.63, a drop of over 15 points for February compared to January 2017, and the single biggest monthly drop [...]
Plus500 confident it can deal with FCA crackdown and commits to London February 7, 2017 Spreadbetting firm Plus500 saw its shares jump three per cent today as the company indicated it was well placed to deal with regulatory pressures presented by the City watchdog. Plus500’s chief executive also told City A.M. that the London-listed company will not be seeking to shift resources away from the UK, despite Financial Conduct Authority [...]
The government has defeated a plan to strengthen the “take it or leave it” Brexit 50 vote February 7, 2017 MPs have rejected a plan to strengthen a "take it or leave it" Brexit vote, as Parliament continues to debate the Article 50 Bill. The amendment, tabled by Labour backbencher Chris Leslie, would have expanded upon Prime Minister Theresa May's previous offer of a vote for both MPs and peers on the UK's trading relationship with the EU. [...]
Could it be Luxembourg for Lloyd’s of London? Insurance market narrows shortlist for post-Brexit hub February 7, 2017 Lloyd's of London is homing in on Luxembourg for its new EU camp post-Brexit. The insurance market, which will keep the majority of its operations in London, had narrowed its shortlist to five possible locations – Ireland, Germany, the Netherlands, Belgium and Luxembourg. It has previously ruled out a move to Malta. However, the Press Association [...]
Virgin Active offloads 16 fitness clubs to David Lloyd Leisure February 7, 2017 Virgin Active, the eponymous gym chain, has offloaded 16 of its clubs in the UK to David Lloyd Leisure for an undisclosed sum. The fitness firm will continue to operate 45 clubs in the UK, 33 of which are in London. Last year, Virgin Active sold a further 35 UK gyms to Nuffield Health, a [...]
Commons speaker John Bercow has defended his controversial Trump intervention February 7, 2017 House of Commons speaker John Bercow has defended his controversial intervention over Donald Trump speaking in Westminster. Bercow faced criticism after telling MPs he would fight any plans for Trump to address MPs and peers within the Palace of Westminster. However, speaking to MPs in the House of Commons, Bercow maintained he was “commenting on a matter [...]