UK house prices: Property price growth has fallen for the third month in a row December 12, 2017 House price growth in the UK dropped again in October, according to official figures, the third month in the row it has fallen. Property prices rose 4.5 per cent in the year to October, down from 4.8 per cent in September and 5.1 per cent in August. On a monthly basis, prices fell 0.5 per [...]
Bitcoin price (BTC) rocketing is spurring people to mortgage their home to buy cryptocurrency December 12, 2017 And the bitcoin craze continues… So eager are people to get in on the latest trend they are taking out mortgages on their homes to buy up the rocketing cryptocurrency, according to one US regulator. Read more: Bitcoin is in serious danger of becoming very boring People are borrowing cash against their home for bitcoin, [...]
UK inflation hits 3.1 per cent December 12, 2017 Inflation hit 3.1 per cent in November, meaning Bank of England (BoE) governor Mark Carney must write to the Treasury with an explanation for the rise. November’s consumer price index (CPI) reading was expected to remain unchanged at three per cent for the third month in a row. CPI has been above the Bank of [...]
Brent crude oil prices climb past $65 a barrel on Forties pipeline shutdown December 12, 2017 Brent crude oil prices shot up more than one per cent today to break $65 a barrel and reach their highest level since mid-2015 after the major Forties pipeline in the North Sea was shut down for repairs yesterday. Ineos, which recently became the owner of the pipeline, said a shutdown was the safest way [...]
Unibail-Rodamco to buy Westfield in $24.7bn shopping centre mega-merger | City A.M. December 12, 2017 Shopping centre giant Westfield is to be sold to a European rival, just days after two other major industry players struck a takeover deal. Unibail-Rodamco, a French property investor which owns Paris’s iconic underground shopping mall Carrousel du Louvre, has entered into an agreement to buy Westfield for $24.7bn (£18.5bn). It comes after Hammerson offered [...]
Tube delays: Disruption on several Underground lines across London – Central, Circle, District and Metropolitan lines December 12, 2017 There are delays on four Tube lines this morning, with commuters facing disruption on the Central, Circle, District, Piccadilly and Metropolitan lines. Central line services between Leytonstone and Epping/Hainault are running with delays due to an earlier faulty train at St Paul’s. https://twitter.com/centralline/status/940478213876273154 On the Piccadilly line, there are delays on eastbound services between Acton [...]
Bitcoin is in serious danger of becoming very boring December 12, 2017 Like it or loathe it, the digital currency bitcoin is certainly causing a stir. From its inception in 2009, there’s been hacking attacks, major thefts, bankruptcies, spin-offs, street protests, rants from Wall Street chief executives and a very, very peculiar car chase in Los Angeles. That’s not even mentioning the gravity-defying price surge towards $20,000 [...]
Cities are still at the heart of Britain’s prosperity – but the north-south divide is getting even bigger December 12, 2017 In the aftermath of the financial crisis much was written about Britain’s supposed need to “rebalance” its economy away from London and, specifically, the City. Numerous commentators argued that new drivers of growth must be found in other parts of the UK, and called for policies aimed at reviving British manufacturing and reducing our reliance [...]
Digital challenger Starling to hit profit in 2019 says founder Anne Boden as European expansion takes crucial step December 12, 2017 Digital-only challenger bank Starling will “definitely” be in profit by the end of 2019, its chief executive told City A.M., as it announced a major step in its plans for European expansion. Anne Boden, who started work on the bank in 2014, said Starling will be “breaking even in about two years’ time” as it [...]
Brexit transition work to begin “immediately” after sufficient progress declared as business groups urge speed and clarity December 12, 2017 Work on a Brexit transition period will begin “immediately” after sufficient progress in negotiations has been confirmed, Theresa May said last night, as business groups urged the government to seal a commitment in the first weeks of the new year. During her first Commons update since being given the thumbs up by Jean-Claude Juncker to [...]