Ros Altmann is right: It’s time to scrap the state pension triple-lock August 1, 2016 As with many contemporary policy debates, the furore over the state pension triple-lock has its roots with Gordon Brown. Back in 1999, when Brown was chancellor, the state pension was increased by 75p per week. “Derisory”, claimed pensioner groups. Only “enough to buy a packet of peanuts”, bemoaned national newspapers. Scarred by the backlash, political [...]
Megabrew: AB InBev and SABMiller expect to seal the deal in October August 1, 2016 Anheuser-Busch InBev's £79bn takeover of SABMiller is expected to complete on 10 October, the companies said in a statement today. The brewers unveiled the agreed, expected timetable for the merger following the satisfaction of the pre-conditions, which were completed on 29 July after getting the all-clear from Chinese authorities. It is the first time a closing date has been given [...]
Opinion: Why more transparency is needed on letting fees to make sure both landlords and tenants are getting a good deal August 1, 2016 There has been much debate in the press and both Houses of Parliament regarding the subject of letting agents’ fees and whether these are fair or reasonable. Unfortunately as far as I am concerned, they are neither. The all-too-common practice of asking tenants to pay exorbitant administration charges, and a host of other overheads, to [...]
New homes on sale in London: from apartments on London City Island to family homes in Edgware August 1, 2016 London City Island From £405,000 A summer party heralded the sale of 100 new homes on the enormous London City Island complex on Saturday. Developer EcoWorld Ballymore offered champagne ice pops, a BBQ and a DJ to entice prospective buyers to look at the studio to four bedroom apartments on the Leamouth Peninsula. There will be [...]
First-time buyers are now expecting help from more than just their parents August 1, 2016 Many first-time home buyers are now skipping a generation in order to fund their purchases and could be “putting the family silver at risk”. Grandparents are to help fund one in six purchases of a first home, data compiled by Simpson Millar solicitors suggests. The concern from solicitors is that with a third of couples not [...]
Construction sector leader calls on government to do more to amid spiralling material prices August 1, 2016 The construction sector is being battered by high material prices, a weak pound, private sector uncertainty and a lack of public housing investment, the Federation of Master Builders (FMB) said today. In the week that sees two of the largest building suppliers release their results, the FMB said that two-thirds of bosses were anticipating further rises in material costs [...]
The state of Europe’s banks is far from steady August 1, 2016 Bank investors rejoice! The European Banking Authority (EBA) has declared stress tests should no longer be about pushing fresh capital into the system or drilling down into asset quality. No. The good news is that “steady-state monitoring” is what’s needed. So will this provide the assurance investors need? I’m not convinced. Even if stock prices [...]
Tom Hayes’ crowdfunding campaign breaks £30,000 mark August 1, 2016 The crowdfunding campaign to raise money for Tom Hayes' legal fees has broken the £30,000 barrier. The Fundrazr campaign, which has been set up to support the former UBS and Citigroup traders' appeal to the Criminal Cases Review Commission (CCRC), has now raised £30,705, or 20 per cent, of its £150,000 target. The campaign had been stalled [...]
This bank feels fine about the Brexit vote so far August 1, 2016 While June's Brexit vote gave most of the banking sector a beating, one industry giant has revealed its business is doing fine, for the time being at least. Citigroup has revealed it is yet to feel its business be seriously shaken by June's Brexit decision. A regulatory filing published today noted Citigroup had "not experienced any significant negative impact [...]