Nationwide house price index: UK housing supply at its lowest level since 1970s November 27, 2015 Annual house price growth slowed to a five-month low in November – despite the number of available homes on the market falling to a level not seen since the 1970s. Nationwide's house price index showed house prices increased 0.1 per cent in November, meaning the annual growth rate fell from 3.9 per cent a month earlier to 3.7 per cent. [...]
Alliance Trust chair Karin Forseke steps down November 27, 2015 The chair of troubled investment vehicle Alliance Trust is stepping down at the end of this year, as part of an overhaul of the company's management structure. Karin Forseke will step down from the board on 1 January 2016 amid a move to "create a wholly independent board". Chief executive Katherine Garrett-Cox has already left [...]
Airbus files another wacky patent for detachable cabins to cut down boarding time November 27, 2015 Another day, another wacky patent from Airbus. Among surprise charges for obvious services such as baggage check-in fees, having to navigate an airport carpark as well as flight delays, the time it takes to actually board a plane probably isn't towards the top of most people's list of flying-related annoyances. But a patent unearthed by [...]
NatWest says government’s new Help to Buy ISAs will help young customers November 27, 2015 NatWest has revealed that it will be one of the country’s first lenders to participate in the government’s new Help to Buy: ISA scheme. Starting next week, NatWest will offer customers accounts on the scheme, which will see the government topping up individuals’ savings when they purchase their first home. For every £200 an individual [...]
CBI services sector survey: confident firms are ramping up investment plans despite slowdown in growth November 27, 2015 The UK’s service sector, which makes up around 80 per cent of the economy, is in fine fettle, according to new survey figures published this morning, with a record number planning to invest in new technology. The service sector survey from the Confederation of British Industry showed that business volumes in consumer services – hotels, [...]
Consumer confidence edges down from sky-high levels November 27, 2015 Consumer confidence has come off the boil, according to survey figures released this morning, but remains at historically high levels. The consumer confidence index produced by pollsters YouGov and the Centre for Economics and Business Research (CEBR) dropped to a score of 113.6 this month – its lowest since June this year. A separate index produced [...]
UK house prices: First-time buyer market cools in the run-up to Christmas November 27, 2015 Britain first-time buyer market has cooled over the last three months following this summer’s record number of sales, new research shows. New buyers completed 28,100 sales in October, which was down 8.5 per cent compared with July’s eight year high of 30,700, according to figures released today by estate agents Your Move & Reeds Rains. [...]
Taiwanese insurer Fubon Life Insurance is frontrunner to buy Cannon Place for £500m November 26, 2015 One of Taiwan’s biggest insurers Fubon Life Insurance is poised to make a second splurge in the UK this year after emerging as the frontrunner to buy the Confederation of British Industry (CBI) headquarters in the City. Cannon Place, which sits above Cannon Street station in the City, was put up for sale by its [...]
Irwin Mitchell just shy of top ten following Thomas Eggar merger November 26, 2015 Law firms Irwin Mitchell and Thomas Eggar revealed they are merging today, creating a business worth £250m. The merged firm is set to place as the 11th biggest in the UK, just short of a top ten position, in a league table compiled by trade magazine The Lawyer. It will also rank within top five [...]
Final cost to banks uncertain as PPI deadline set for 2018 November 26, 2015 The costliest financial scandal in UK history, mis-sold payment protection insurance (PPI) is to come to an end in 2018, after the regulator said people will have to make claims by then. The Financial Conduct Authority (FCA) is looking to draw a line under the issue which has cost banks £28bn since it was first [...]