UK house prices: Property prices increased by as much as the average salary – but in London it’s more than double that January 22, 2016 The property market might be cooling, but last year still gave home-owners a solid boost to their wealth, with new research suggesting UK properties gained in value by as much as the average salary. Throughout 2015, the average homeowner made £27,264 – or £16 for every working hour of the year. Those who own property in London, [...]
UK rental market: The government must do more to combat rogue landlords January 22, 2016 Today Brandon Lewis MP announced £5m in government funding to combat the scourge of rogue landlords. Councils are in desperate need of additional funding to help them fix the problems associated with rogue landlords and there's no doubt that this public money be put to good use. They will be better able to target notorious ‘beds in sheds’, cramped hellholes rented out [...]
Weird Christmas? Retail sales fell in December – as clothing sales were hit by warm weather January 22, 2016 Either people finished their Christmas shopping early this year, or they had a decidedly miserly Christmas. Official figures have shown retail sales actually fell by one per cent between November and December. But the figures, by the Office for National Statistics, showed sales rose 2.6 per cent compared with the year before, while online sales rose 8.2 per cent. [...]
Moody’s puts 120 energy firms on downward review as oil prices tumble January 22, 2016 Moody's is reviewing the ratings of 120 oil and gas companies after it lowered its price forecast for oil this year. The credit ratings agency cut its forecast for Brent and West Texas Intermediate to $33 per barrel, rising by $5 per barrel in 2017 and 2018. Some analysts, including those at StanChart, have warned oil could fall [...]
Google has paid Apple $1bn to keep its search on iPhones – and has generated over $36bn from Android January 22, 2016 Google is paying a pretty penny to remain the default search bar on Apple’s iPhones. The tech giant paid its rival $1bn in 2014 to keep its search engine on iOS products like iPhones and iPads, court records have shown. Apple was also reportedly raking in a 34 per cent slice of Google’s sales through iOS devices [...]
Christine Lagarde confirms plans to run for a second term as director of the IMF January 22, 2016 IMF director Christine Lagarde has confirmed she will be standing for a second term when her tenure runs out. Lagarde confirmed her plans to run in an interview with French television news channel France 2. Lagarde’s term as head of the IMF is drawing to a close as her five-year tenure is up in July, [...]
The bear is back in his cage: FTSE 100 gains and Japan’s Nikkei 225 roars into positive territory on global stimulus hopes from the European Central Bank’s Mario Draghi January 22, 2016 Finally some good news: the FTSE 100 got off to a flying start this morning, gaining up to 1.8 per cent in early trading as dovish remarks from Mario Draghi sent investors' spirits soaring. Global bourses surged, with Japanese stocks roaring out of bear market territory to make their second-biggest one-day gain in five years. The Nikkei [...]
Amazon to create thousands more jobs in Europe and UK in fulfillment, R&D and software development January 22, 2016 Amazon is going on a major hiring spree as the etailer ramps up its operation across Europe and the UK. The retailer said many of the new jobs – of which 2,500 will be in the UK – will help expand its European fulfilment network, as well as focusing on EU-based research and development. The new roles [...]
Davos 2016: An outlook as chilly as the setting January 22, 2016 So much for a fourth industrial revolution. It’s an inexorable law of the World Economic Forum that each year’s summit must be more crowded, expensive and pessimistic than the last. Whether it’s robotics, fintech or climate change, you can take your pick of this year’s buzz-themes – many dreamed up with the aid of handsomely [...]
ECB chief Mario Draghi sends dove to tame bear market by hinting at ramp up of stimulus package January 22, 2016 Mario Draghi went some way to taming bear markets yesterday by hinting that the European Central Bank (ECB) will ramp up its trillion-euro stimulus package as soon as March. The ECB chief said that, with “downside risks” increasing, it will be “necessary to review and possibly reconsider our monetary policy stance at our next meeting”. The dovish [...]