Competition and Markets Authority launches market study into the legal services sector to examine concerns about affordability and standard of services January 13, 2016 The Competition and Markets Authority (CMA) today announced that it had launched a market study into the legal services sector. The study will examine concerns relating to affordability and standard of services offered to consumers and small businesses. In particular, the CMA is reviewing how able consumers are to make informed purchasing decisions and whether adequate [...]
Fitch Ratings upbeat on UK housing market for 2016 despite slowdown in growth January 13, 2016 Credit ratings agency Fitch predicts house prices will continue to rise in 17 of the word’s 22 leading markets including the UK this year, buoyed by low mortgage rates, GDP growth and improving employment. However the rate of growth is expected to stay the same or drop in most countries as housing affordability becomes even [...]
New accounting standard will change the way companies treat leases on their balance sheets, but could influence a shift away from sale and leaseback January 13, 2016 A new accounting standard will change the way companies recognise leases on their balance sheets, and could see businesses alter the way they approach property. International Financial Reporting Standard (IFRS) 16 Leases, which was published today by the International Accounting Standards Board (IASB), is due to come into effect from 1 January 2019 and will [...]
Euribor trial: Jury trial date set for six people – two who worked at Deutsche Bank and four who worked at Barclays – accused of manipulating Euribor rate as 4 September 2017 January 13, 2016 The jury trial date for six people alleged of playing a role in the manipulation of the Euro Interbank Offered Rate (Euribor) has today been set to begin on 4 September 2017. Former Deutsche Bank employee Christian Bittar and Achim Kraemer, who is still at that bank, alongside ex-Barclays staff members Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse [...]
Family debt jumped 42 per cent to more than £13,500 in six months January 13, 2016 With growth in the economy looking shaky, it seems the amount people are borrowing has increased: new figures showed family household debt rose a whopping 42 per cent to £13,520 in the final six months of last year. The figure, which excludes mortgages, is up from £9,520 in summer 2015, and £9,050 last winter. It's also [...]
Buying a house? It will only takes you 53 minutes to decide whether to go for it January 13, 2016 It's one of the most important, and expensive, decisions you will make, but most of us only take 53 minutes to decide whether to buy a house according to a new survey. UK house-buyers are more pensive than a year ago, the same survey by eMoov.co.uk in 2014 revealed people only needed 38 minutes to [...]
Where to invest in property in 2016: The 14 European cities better to invest in than London January 13, 2016 London's reputation as one of the best places to invest in property has slipped, according to a new report, as investors look towards rapidly changing smaller cities with more opportunities for growth. The capital has slipped to number 15 in the ranking of cities in the emerging trends in real estate report from PwC and [...]
London house prices: Your home is paying off your annual commute in around a fortnight if you live in Surbiton, Tandridge, Harpenden, Henley and Epsom January 13, 2016 Have you found yourself grumbling about the ever-increasing cost of commuting, even when your train is delayed/cancelled/diverted for no apparent reason? If you're a property owner, it's time to turn that frown upside down. New research suggests that if you travel into London from the commuter belt, your home is actually paying off the cost of your annual [...]
Oil prices could spike at $500 on a war between Saudi Arabia and Iran January 13, 2016 A leading academic has warned a full scale war between Middle Eastern rivals Iran and Saudi Arabia could send oil prices as high as $500 per barrel. The two countries' long-running regional rivalry is borne out in a series of proxy wars across the Middle East, such as the one which is being waged in Yemen. But relations soured recently when [...]
Finally some good news: Chinese exports unexpectedly rise as concerns over a slowdown in the world’s second largest economy linger January 13, 2016 While fears over the state of the Chinese economy persist, some good news was delivered this morning, after Chinese exports defied expectations in December to rise. Chinese exports rose 2.3 per cent in December from a year ago in yuan-denominated terms, against forecasts of a 4.1 per cent fall. A weakening currency is thought to have [...]