Bank of England’s Mark Carney on interest rate rise: 4pc of mortgage holders vulnerable to hike October 25, 2015 Bank of England governor Mark Carney has said Britain should be prepared for interest rates to be hiked, but it was by no means certain that the historically low rate would be raised. He warned that there were households at risk due to large amounts of debt – as many as four per cent of mortgage [...]
Gender pay gap data will include bonuses October 25, 2015 Companies will be forced to reveal how much men and women get paid in the form of bonuses as part of efforts to reduce pay inequality. Businesses with more than 250 employees will have to report the gap between male and female pay under new rules expected to be introduced next year. Now, David Cameron has said [...]
Scotland house prices: Number of properties over £1m doubles, with over half based in Edinburgh October 24, 2015 Scotland is fast becoming a land of million-pound properties, with the number of homes selling for more than £1m doubling in the first half of this year. Figures from the Bank of Scotland show that from January to June, 111 properties went for this value or more, compared to 43 during the first half of [...]
Thousands of self-employed people facing HMRC fines for late tax returns, say accountants October 23, 2015 Thousands of self-employed Londoners face fines of up to £1,600 at the start of next month for failing to file their tax returns on time, according to City accountants Perrys. Last year approximately 700,000 people in the UK missed the government’s 31 October submission deadline. This year, the fines are estimated to hit as many as 890,000 people. And with 680,000 London workers registered [...]
Eurozone business growth unexpectedly accelerated in October – but not enough to temper stimulus expectations October 23, 2015 A new survey has shown business growth in the Eurozone unexpectedly strengthening, but not enough to temper expectations that the European Central Bank (ECB) will boost its monetary stimulus programme. "Unless the PMI business activity and price indices pick up significantly in coming months, the combination of relatively weak growth and deflation signalled by the survey will [...]
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 [...]