Fixing the sink estate we’re in: Institutional cash is already building homes in London January 10, 2016 Despite London’s status as a safe haven for investors, for many living on crumbling housing estates it’s anything but. For decades politicians have ignored the link between poor housing are various social ills. While Tony Blair did much to help cities, he did little for housing. Today’s plans to redevelop sink estates by harvesting institutional capital should therefore be [...]
These are London’s startup hotspots: More new businesses were created in Westminster, Hackney and Camden than any other part of the UK January 10, 2016 London continues to attract more startups than anywhere else in Britain, easing fears that rising rents could scare entrepreneurs away from the capital. Westminster was home to more new businesses than any spot across the country with almost 20,000 new ventures set up in the borough last year alone. Hackney and Camden were ranked second and third [...]
Insurers which snoop on customers using social media could be in line for a crackdown as Financial Conduct Authority finishes gathering input on big data use January 10, 2016 The Financial Conduct Authority (FCA) finished gathering input on how insurers use big data late last week, which might mean a crackdown could be around the corner for those who use social media to snoop on customers. In November, the FCA launched a Call for Inputs on big data in the retail general insurance sector, [...]
Bank of England’s monetary policy committee to keep interest rates at record lows this week January 10, 2016 The Bank of England’s committee of rate-setters will be keeping interest rates at record lows this week. A renewed drop in oil prices and slower pay growth are set to weigh on the Bank’s inflation outlook. Last month it voted to keep rates at 0.5 per cent – it aims to bring inflation to two per [...]
David Cameron promises £140m turnaround of sink estates January 10, 2016 David Cameron has promised £140m to redevelop so-called sink estates in an effort to tackle poverty and social problems. Some 100 housing estates across the UK will be redeveloped and some knocked down "starting from scratch" under new plans. "Behind front doors, families build warm and welcoming homes. But step outside in the worst estates [...]
UK trade deficit shrinks in November on oil price slump January 8, 2016 Britain's trade deficit shrank in November, as cheaper imports on the back of the oil price rout helped offset a record goods trade deficit with other EU countries. The Office for National Statistics (ONS) said the UK's total trade deficit narrowed to £3.170bn in November, from £3.507bn a month earlier. The deficit in goods alone narrowed [...]
Five factors behind this week’s Chinese stock turmoil January 8, 2016 Chinese shares had a tumultuous start to the new year with the benchmark CSI 100 index closing down 10 per cent. So what were the main factors behind the turbulence? The slowing Chinese economy China is trying to move away from export-led growth towards a more sustainable, domestic consumption-led economic model. Nevertheless, fears over the pace of its [...]
Chinese shares rise two per cent after day of volatile trading – but end the week 10 per cent down January 8, 2016 Chinese shares closed mixed today, ending a week of volatile trading, following mounting fears over the pace of the country's economic slowdown. After a day of wild swings, China's Shanghai composite index closed up 1.97 per cent at 3,186.41 points. Meanwhile, the Shenzhen composite index ended the day 1.05 per cent higher at 1,978.721 points. The CSI 300 index, tracking [...]
Pay growth falls to two-year low despite jobs rise January 8, 2016 Pay growth has slowed to its lowest rate in over two years, new survey figures show this morning. The slowdown comes despite an increase in job vacancies in December, according to the data compiled by the Recruitment and Employment Confederation (REC) and financial services firm KPMG. The survey’s pay gauge slid to a score of 58.7 [...]
UK house prices: Number of tenants in serious rent arrears rising January 8, 2016 The number of tenants falling seriously behind on rent went up by 13.8 per cent between the three months to June and the three months to September, according to figures released this morning. There were 84,200 tenants more than two months behind on their payments between July and September – the most for two years, the [...]