UK property prices: As house prices continue to rise, people have just stopped moving house October 23, 2015 Hot on the heels of Deutsche Bank calling the top of the capital's housing market, a survey by Knight Frank has suggested the number of people moving house has fallen to the lowest level since it began its survey in April 2014. The upmarket estate agent, which conducted its study with Markit, said just 4.6 per cent of households [...]
Lord Mayor of London Alan Yarrow to call for more investment in UK infrastructure October 23, 2015 London needs the right infrastructure and skills in place to remain competitive on a global stage, leading City figures are expected to say this afternoon. Speaking at Confederation of British Industry's annual autumn lunch, the Lord Mayor of London, Alderman Alan Yarrow, will say that skills and infrastructure are crucial to London’s long-term success. “Just [...]
Financial Conduct Authority boss Tracey McDermott assures City firms on future regulation October 22, 2015 The head of the UK’s financial watchdog tried to reassure City firms last night that the thousands of pages of regulation that have been heaped on them since the financial crisis would not be added to substantially over the coming years. At an annual London dinner of regulators and finance workers tonight, Tracey McDermott, acting chief [...]
UK house prices: Deutsche Bank calls time on London prime property party October 22, 2015 Analysts at Deutsche Bank have called time on London’s prime property “party” in a scathing note that warns the boom of the past 30 years is a thing of the past. In the latest edition of its Konzeptmagazine, released yesterday, Deutsche Bank’s Sahil Mahtani argues that a looming interest rate hike, the Bank of England’s [...]
S&P 500 hits two month high – New York Report October 22, 2015 Stronger-than-expected earnings from several top companies relieved investors’ concerns yesterday about the profit outlook, pushing the S&P 500 to its highest level in two months. The Dow Jones industrial average rose 320.55 points, or 1.87 per cent, to 17,489.16, the S&P 500 gained 33.57 points, or 1.66 per cent, to 2,052.51 and the Nasdaq Composite [...]
Eurozone bond yields sink to four-month lows on dovish Draghi comments October 22, 2015 Government borrowing costs dropped across the Eurozone and the euro tumbled today as European Central Bank (ECB) boss Mario Draghi gave his biggest hint yet that the bank would take further steps to boost the lacklustre economy. The euro tanked – it could buy 73.4p this morning but has dropped nearly two per cent to a value of 72.2p. [...]
Eurozone consumer confidence is coming off the boil October 22, 2015 Consumer confidence in the Eurozone edged further down this month, according to survey figures released today by the European Commission (EC). The EC's monthly barometer of consumer confidence slipped 0.6 points to a "flash" score of minus 7.7. Flash scores are estimates made before all the data has been collated. Despite the drop, confidence levels remain high compared with [...]
European Central Bank to re-examine monetary stimulus in December as it holds key interest rates October 22, 2015 The euro tumbled against the pound this afternoon, after European Central Bank (ECB) boss Mario Draghi hinted an even bigger "bazooka" could be fired at the Eurozone in December. In his opening remarks, Draghi reiterated that the emerging market slowdown and financial market turbulence pose downside risks to the outlook for growth and inflation in the Eurozone. "Most notably, the strength and [...]
Sense of deja vu engulfs Barclays boardroom over ringfencing waiver October 22, 2015 When George Santayana uttered his famous quote about people who fail to learn from history being doomed to repeat it, he wasn’t thinking about Britain’s banks. Shame: his words might echo pretty loudly around Barclays’ boardroom right now. Little more than three years after the bank’s chief executive fell on his sword and its chairman made way [...]
Senior managers live longer than “routine” workers: How the career you choose will dictate your life expectancy October 22, 2015 They say money can't buy happiness – but it turns out it can buy health, after new research came out showing that the more "successful" your career is considered to be, the longer your life expectancy is. Figures from the Office for National Statistics (ONS) found those whose job titles were defined as "higher managerial and [...]