UK house prices: Sorry, but right now the UK can’t meet its target of building 240,000 homes a year, says House of Lords National Policy for the Built Environment Committee February 19, 2016 The UK won't hit the government's 240,000-a-year housebuilding target by relying on the private sector, according to a new report – which also warned so-called starter homes shouldn't be classed as affordable housing. The report, by the House of Lords' National Policy for the Built Environment committee, said the government must give local authorities and housing [...]
High house prices and strong rent growth lift landlord returns February 19, 2016 Landlords' annual returns have reached their highest for over a year, according to figures released this morning. Considering both the growth in rents and increases in property prices, landlords’ annual rate of return in January was 12 per cent. The figures, from estate agents Your Move and Reeds Rains, show that the average landlord in [...]
Financial services productivity held back by over-regulation February 18, 2016 Productivity in Britain’s financial services sector has fallen significantly since 2009, official figures have revealed. The level of productivity in financial services, measured by output per hour worked, was higher in the UK than in Germany, Italy, France and the US between 2005 and 2009. However, since 2009 the sector has been going in reverse, with [...]
Oil production freeze: Saudi will not cut output as US stockpiles soar February 18, 2016 The oil price has has fallen off a cliff on a double whammy of bad news: De facto Opec leader Saudi Arabia has said it will not cut production according to reports, while the US Energy Information Administration has announced inventories of crude swelled in the week to 12 February. The price per barrel of US [...]
UK house prices: If only the buy to let surcharge was an April Fool’s Joke – instead, it’s an attack on entrepreneurial Britain February 18, 2016 George Osborne sensed he was onto a winner when he moved to raise stamp duty on buy-to-let homes by three per cent. The UK property market has long been a hot topic. Powers-that-be rarely let opportunity pass, and the chancellor’s move is one to allow the government to have a bigger slice of the pie. [...]
What big tobacco needs to know about the UK’s e-cigarette smokers February 18, 2016 We all know that as the number of smokers falls, big tobacco is scrambling to get into the e-cigarette market. But figures from the Office for National Statistics, published this morning, showed while vapers are a growing community, their loyalty is questionable… Here's what big tobacco needs to know. 1. Traditional smoking is A Thing [...]
European Central Bank policy makers divided on further easing as one suggests allowing inflation to overshoot February 18, 2016 Rate setters at the European Central Bank were divided in their last meeting as to how they should respond to financial market turbulence and increased risks to growth. Some members thought acting preemptively to mitigate rising risks to growth and inflation would be appropriate while others warned against it. One member even suggested that the [...]
Moody’s gets gloomier on global economic growth as it warns of rising risks February 18, 2016 Risks to the global economy have increased, with growth in the US, Eurozone and China looking more precarious, a major credit ratings agency has said today. A steep drop in global share prices since the start of the year makes disappointing growth in the US more likely, Moody’s said. It believes the US economy will expand 2.3 [...]
OECD cuts UK growth forecast to 2.1 per cent as it warns “urgent” policy changes are needed to increase global growth February 18, 2016 One of the world's most influential economic think tanks has slashed the UK's growth by 0.3 percentage points, as it warned an "urgent" change to are needed from policymakers to push up global growth. The organisation said it expected UK growth to reach 2.1 per cent this year, compared with 2.4 per cent it previously expected, [...]
UK house prices: Mortgage lending has strongest start to the year since 2008 February 18, 2016 Mortgage lending had its strongest start to the year for eight years, according to figures released this morning. Gross mortgage lending hit £17.9bn in January, 21 per cent higher than the same month last year, the Council of Mortgage Lenders said. It is the largest amount of mortgage lending conducted in January since 2008 when £25.2bn [...]