This is what will happen to rents next year December 19, 2016 It has been an eventful year for landlords. They have been under intense pressure from the government in 2016, starting in April, when former chancellor George Osborne's stamp duty hike on second homes came into effect. Then, when Philip Hammond took over, he used his first Autumn Statement to ban letting agents' fees for tenants, saying [...]
US services PMI sees December slowdown but continued health in the economy December 19, 2016 US services are experiencing a slight slowdown in December after peaking in October, according to a widely followed indicator of economic activity, but the indicator still shows healthy confidence levels in the world's largest economy. The US services purchasing managers’ index (PMI) fell to 53.4 in December, down from the 54.6 level last month, according to [...]
Households could start 2017 hundreds of pounds worse off by not switching deals before dozens come to an end December 19, 2016 UK households could be starting 2017 more than £250 worse off when dozens of fixed dual fuel energy tariffs finish at the end of this month, GoCompare Energy has warned. At the end of the month, 35 fixed dual gas and electricity tariffs from some of the country's leading suppliers are due to terminate, 33 of [...]
Deutsche Bank mega fine could be sorted by Wednesday December 19, 2016 Deutsche Bank could enter 2017 with one less item to tick off its to-do list, as it has emerged that a potential mega fine from the US Department of Justice (DoJ) could be settled on Wednesday. In September, it was revealed the German banking giant was facing a penalty of $14bn (£11.3bn) for mis-selling mortgage-backed securities. [...]
Monte dei Paschi share price drops nine per cent on reports rescue plan is floundering December 19, 2016 Shares in troubled Italian bank Monte dei Paschi dropped by more than nine per cent this afternoon, on reports that a rescue plan could be about to fall apart. The bank is trying to resolve its differences with a key investor over its €5bn (£4.2bn) rescue plan so as to avoid a state bailout, Reuters reported. [...]
Hurricane Energy’s share price storms higher after group announces “significant” North Sea oil find December 19, 2016 Hurricane Energy's share price has stormed more than 13 per cent higher this morning after the group announced it had made a "significant" find at its North Sea Lincoln well. Drilling has revealed the oil column's estimated 250m barrels of recoverable oil is a "conservative" forecast, Hurricane said today. The well is close to the company's [...]
IMF chief Christine Lagarde found guilty in negligence trial December 19, 2016 The head of the International Monetary Fund (IMF), Christine Lagarde, has been found guilty of negligence in relation to her handling of a controversial payout to a French tycoon during her time as the country's finance minister. However, the judges did not hand down any sentence in the case. The IMF chief was facing charges linked to [...]
London Assembly Budget committee raises concerns over mayor’s council tax hike and TfL’s finances December 19, 2016 The mayor's plans to hike council tax for the first time in nine years to pay for the Met Police have raised concern among the London Assembly's Budget and Performance Committee. Ahead of Sadiq Khan's draft 2017-18 budget, the committee set out its concerns and what it considered the big issues facing the Met along with Transport for London [...]
Rupert Murdoch pleads with newspaper to stop using “fake news” quote December 19, 2016 Rupert Murdoch has written to the Guardian, asking the newspaper to stop attributing a "fake" quote to him. The executive chairman of 21st Century Fox, which last week agreed an £11.7bn deal to takeover Sky, has taken issue with the following quote: “When I go into Downing Street, they do what I say; when I [...]
Letting agents expect rents to rise next year December 19, 2016 Eight in ten letting agents think rents will rise next year as a result of chancellor Philip Hammond's decision to ban letting agents' fees for tenants, according to the Association of Residential Letting Agents (ARLA). Hammond's announcement – which was a part of his Autumn Statement at the end of November – has angered both [...]