Volkswagen emissions scandal: VW now UK’s lowest ranked car brand, says poll September 25, 2015 Volkswagen has been in the spotlight over the last week, and for reasons it would have preferred to avoid. After it emerged that VW had rigged its cars with a device that could cheat an emissions test, the company announced it could have to recall 11m cars, set aside €6.5bn and Martin Winterkorn, the former [...]
Buy-to-let boom coming to an end? One in five landlords going out of business hit hard by tax break cuts September 25, 2015 Could the buy-to-let boom be coming to an end? The possibility of lucrative returns may have prompted many to invest in a buy-to-let property, but a new study suggests being a landlord may not be such a sure-fire investment after all. One in five landlords are forecast to be out of business within the next [...]
UK house prices: Supply of properties for sale crashes to 11-year low as National Association of Estate Agents warns “We’re reaching crisis point” September 25, 2015 The supply of houses for sale has slumped its lowest level for 11 years, exacerbating fears that housing affordability is set to continue declining. The number of properties available to buy per estate agent branch dropped to 38 in August, according to figures released today by the National Association of Estate Agents (NAEA) – a [...]
Moody’s Analytics: Economists say Syrian migrants will boost the European economy September 25, 2015 Welcoming immigrants fleeing the turmoil in the Middle East is in Europe’s self interest, top economists at Moody's Analytics have said. Europe is suffering from dire demographic trends with fertility rates in most countries below self-replacement rates – implying populations are set to decline. It also means the share of elderly, which already exceeds the [...]
Volkswagen emissions scandal: VW to name Porsche’s Matthias Muller new chief executive after Martin Winterkorn’s exit – reports September 25, 2015 Volkswagen is to announce its new boss today, after former chief executive Martin Winterkorn stepped down on Wednesday amid the ongoing emissions scandal. The favourite to replace him is Porsche boss Mattias Muller, according to several reports. Reacting quickly to Winterkorn's departure on Wednesday, the car maker is expected to make an announcement about the [...]
Catalonian independence proxy vote weighs on Spanish bonds September 25, 2015 Regional elections, which have turned into a de-facto independence vote for the breakaway region of Catalonia, have hit Spanish bonds. The pro-independence coalition is on track to win in Catalonia, albeit perhaps without a majority, in the 27 September vote. Catalan president Artur Mas has vowed to kick off the secessionist measure if he holds [...]
UK house price gap hits a 20-year high September 25, 2015 The gap between house prices in London and other major regional UK cities has grown to its widest level in 20 years. Homebuyers can expect to save on average £300,000 if they ditch the capital and move to Manchester, according to data released this morning by Hometrack. The gap was greatest in Glasgow, [...]
SVG Capital’s Hugo Boss and New Look sell-off reaps rewards September 25, 2015 The sale of fashion brands Hugo Boss and New Look have helped boost SVG Capital’s returns, even as a background of currency volatility weighed on its investment portfolio. The listed private equity firm has, like its rivals, benefitted from a fertile market for asset sell-offs, and returned £101m of capital to investors in the last [...]
National Living Wage: Business groups raise red flag on future pay rises September 25, 2015 Leading business groups are cautioning against “artificially increasing pay” today, as the Low Pay Commission closes its public consultation on the minimum wage. The Low Pay Commission – an independent body set up to advise the government on the national minimum wage – opened the public consultation last month, as part of a larger [...]
Ryanair investors will reap €400m in spoils from sale of Aer Lingus September 25, 2015 Ryanair announced at its AGM yesterday it would be sharing the €398m (£293m) spoils from the sale of its Aer Lingus stake with shareholders. Ryanair agreed to sell its 29.8 per cent stake in the Irish airline to International Airlines Group, which owns British Airways and Iberia, this summer. The budget airliner also said it [...]