London tops 2015 global financial centre rankings and knocks New York into second place September 23, 2015 London is the world’s leading financial centre according to a global study published today, after wrestling back the top spot from New York. The City benefited from renewed political certainty following May’s General Election, the authors say. Yet they warn that, despite storming back to the top of the rankings, London faces future [...]
London house prices: Flats in the capital cost 67pc more than in 2005 and are set to keep climbing September 23, 2015 London flat prices have outstripped every other property type in every other region of the UK over the last decade, according to research published by a major mortgage provider this morning. Affordability is set to continue falling as data from HMRC yesterday showed the market was hotting up with 106,480 homes sold during August – [...]
Greek bank shares bear brunt of the debt crisis September 22, 2015 Greek bank shares have shouldered the brunt of the country's debt crisis, with one index showing they've shed around three quarters of their value so far this year. The FTSE/Athex banks index, which includes banks listed on the Athex and Cyprus Stock Exchange, slumped 8.56 per cent to 241.37 points today. This means it's tumbled 63 per [...]
UK housing market: Interest-only home loans going out of fashion as take up slumps, say Council of Mortgage Lenders September 22, 2015 Warnings that interest-only mortgages are a “ticking time bomb” appear to be filtering through to the market, with figures out yesterday showing a 16 per cent drop in the number of such loans outstanding. A quarter of the reduction is the result of loans reaching maturity and being redeemed while a further 40 per cent [...]
IMF’s Christine Lagarde says downside risks to global growth increased September 22, 2015 International Monetary Fund (IMF) boss Christine Lagarde today warned that the downside risks to the global economy have increased. "The downside risks are greater than they were," Lagarde said at a Brookings Institution event on global economic growth. She cited the commodity price rout, monetary policy realignment, as well as China. Fresh concerns over the [...]
Bank of America chief Brian Moynihan approved as chairman after shareholder vote September 22, 2015 Bank of America shareholders have voted in favour of chief executive Brian Moynihan retaining his chairman title, reversing a company bylaw that called for an independent chair. The vote was cast 63 per cent in his favour after a special meeting, despite attempts by some shareholders urging a vote against. Glass Lewis had argued that the [...]
UK cider producers fizz upwards to hit record high as sales near £1bn September 22, 2015 The UK cider industry is enjoying the sweet taste of success, as producers have climbed by 50 per cent in the past five years. Medium and large-scale producers numbered 150 across the country last year, up from 97 in 2010, figures from HM Revenue & Customs (HMRC) show, which also show there are also some [...]
Glencore share price closes sharply lower amid commodities rout, China and Credit Suisse downgrade September 22, 2015 Glencore shares closed down 10.6 per cent to 106.35p this afternoon, as commodity prices careered downwards amid concerns over China's slowing economy. Earlier today, the commodities trader and miner fell below the 100p per share mark for the first time since it listed, sliding 14 per cent to 99.9p per share. Commodities such as copper and [...]
FTSE 100 slides below 6,000 mark as Glencore, Antofagasta and Anglo American share price falls September 22, 2015 Britain's blue-chip index slid below the 6,000 mark this afternoon, the first time since August, as a rout in commodity prices weighed on miners. The FTSE 100 closed down 2.8 per cent to 5,940.72, as copper prices which struck a two-week low and Credit Suisse downgraded the sector. "Until China demand and emerging market currencies find [...]
Lloyd Blankfein, Goldman Sachs chief executive: “I have lymphoma” September 22, 2015 The chief executive of Goldman Sachs, Lloyd Blankfein has been diagnosed with lymphoma. He said he will be undergoing treatment for the cancer, continuing to work as normal except for reducing his travel, and that he expects to be cured. In an update Blankfein, who has been chief executive and chairman of Goldman since 2006, said: [...]