UK house prices: Property prices increased by as much as the average salary – but in London it’s more than double that January 22, 2016 The property market might be cooling, but last year still gave home-owners a solid boost to their wealth, with new research suggesting UK properties gained in value by as much as the average salary. Throughout 2015, the average homeowner made £27,264 – or £16 for every working hour of the year. Those who own property in London, [...]
UK rental market: The government must do more to combat rogue landlords January 22, 2016 Today Brandon Lewis MP announced £5m in government funding to combat the scourge of rogue landlords. Councils are in desperate need of additional funding to help them fix the problems associated with rogue landlords and there's no doubt that this public money be put to good use. They will be better able to target notorious ‘beds in sheds’, cramped hellholes rented out [...]
Weird Christmas? Retail sales fell in December – as clothing sales were hit by warm weather January 22, 2016 Either people finished their Christmas shopping early this year, or they had a decidedly miserly Christmas. Official figures have shown retail sales actually fell by one per cent between November and December. But the figures, by the Office for National Statistics, showed sales rose 2.6 per cent compared with the year before, while online sales rose 8.2 per cent. [...]
Christine Lagarde confirms plans to run for a second term as director of the IMF January 22, 2016 IMF director Christine Lagarde has confirmed she will be standing for a second term when her tenure runs out. Lagarde confirmed her plans to run in an interview with French television news channel France 2. Lagarde’s term as head of the IMF is drawing to a close as her five-year tenure is up in July, [...]
The bear is back in his cage: FTSE 100 gains and Japan’s Nikkei 225 roars into positive territory on global stimulus hopes from the European Central Bank’s Mario Draghi January 22, 2016 Finally some good news: the FTSE 100 got off to a flying start this morning, gaining up to 1.8 per cent in early trading as dovish remarks from Mario Draghi sent investors' spirits soaring. Global bourses surged, with Japanese stocks roaring out of bear market territory to make their second-biggest one-day gain in five years. The Nikkei [...]
Davos 2016: An outlook as chilly as the setting January 22, 2016 So much for a fourth industrial revolution. It’s an inexorable law of the World Economic Forum that each year’s summit must be more crowded, expensive and pessimistic than the last. Whether it’s robotics, fintech or climate change, you can take your pick of this year’s buzz-themes – many dreamed up with the aid of handsomely [...]
ECB chief Mario Draghi sends dove to tame bear market by hinting at ramp up of stimulus package January 22, 2016 Mario Draghi went some way to taming bear markets yesterday by hinting that the European Central Bank (ECB) will ramp up its trillion-euro stimulus package as soon as March. The ECB chief said that, with “downside risks” increasing, it will be “necessary to review and possibly reconsider our monetary policy stance at our next meeting”. The dovish [...]
London rents accelerate as amount of payments in arrears increases January 22, 2016 London rents grew 6.3 per cent year-on-year in December, according to figures released this morning. The rate of growth was the joint-fastest for a calendar year since 2011, estate agents Your Move and Reeds Rains said. Across England and Wales, rents rose 3.4 per cent on the year, the fastest rate of calendar-year growth for [...]
The big short: Market volatility increases short selling on the FTSE 100 by 15 per cent in 2016 as the number of non-disclosed short positions increases January 21, 2016 The turbulent start to the markets has encouraged short sellers to increase their positions – the number of shares on loan has increased 15 per cent since the start of the year, and is now worth $25bn (£17.6bn) according to the latest data from Markit. Short selling is when an investor borrows shares in order to sell and [...]
Oil industry leaders bullish in Davos, BP boss and Saudi Aramco forecast recovery in price January 21, 2016 The chairman of Saudi Arabia controlled oil company Saudi Aramco Khalid Al-Falih labelled the current oil price as “irrational”, and said it should be higher than $30 a barrel. Speaking at the World Economic Forum in Davos, the chairman also made it clear if the oil price stays low Aramco would be able to endure [...]