Standard and Poor’s attacks negative interest rates as desperate and damaging August 18, 2016 Central banks’ experiment with negative interest rates risks backfiring in spectacular fashion, top ratings agency Standard and Poor’s (S&P) has warned. In a new report assessing the impact of sub-zero borrowing costs on economies and industries around the world, the ratings agency concluded: “Moving to a negative rate environment, in every circumstance that we’ve looked at, [...]
Opinion: Rightmove’s housing index shows that London may have fallen, but it’s sunny in the Shires August 18, 2016 The latest housing index from Rightmove has caused a stir, revealing that prices have hit their lowest point since November and have dropped 1.2 per cent nationwide. Londoners in particular seem hardest hit with the average price falling 2.6 per cent. It’s very easy to put the entire blame on Brexit and increases in Stamp Duty, but [...]
All aboard: Here are four ways London will benefit from the Night Tube August 18, 2016 London will join a handful of cities and make history when it finally launches its long overdue night tube services tomorrow. The service has been delayed by a year, thanks to conflicts over pay and conditions with the RMT Union. Over half a million people use the Tube after 10pm on Fridays and Saturdays – [...]
Too big to fail still too big a problem for banks August 18, 2016 Cleaning up the world's biggest banks in the event of a crisis is easier than it has been but there is still more to be done, the Financial Stability Board (FSB) has warned today. In particular, the papers published by the FSB, which is chaired by Bank of England governor Mark Carney, said more could be [...]
Former pensions minister calls for one simple change that could solve the majority of pension deficits August 18, 2016 Britain's former pension minister has called for a "statutory override" to inflationary increases that are hardwired into three-quarters of the country's defined benefit pension schemes. Baroness Altmann said that the current system had become "unaffordable" for many businesses and the answer was to give flexibility to trustees to adjust the annual uplift paid to members – [...]
Three at 3: The three stories you need to read right now August 18, 2016 We’ve done the legwork for you, and put together the top three stories of the day in bite size form, to make your life that bit easier. Time for a coffee break? Check out our three at three. What Brexit? We’re going shopping Despite all the the reports of the effects Brexit could have on [...]
New homes on sale in London this weekend: from Old Street’s industrial warehouses to family homes in Wimbledon Village August 18, 2016 City Wharf, Old Street From £770,000 Ten two bed apartments have been released for sale in this completed development on City Road. It’s in the heart of Tech City, which has just received a £25m boost from central government. In total, there are 64 studios to three bedroom apartments in the scheme overlooking the 19th [...]
Intercontinental Exchange questions UK competition watchdog concerns over Trayport takeover August 18, 2016 The owner of the New York Stock Exchange has questioned the justification of the British competition authority’s concerns over its Trayport takeover. The Competition and Markets Authority (CMA) said the Intercontinental Exchange (ICE) should consider reversing its $650m (£495m) deal for Trayport, a commodities trading software operation. Read more: US rival pulled London Stock Exchange [...]
The cup doth overfloweth: Profits at the world’s largest listed winemaker doubled last year August 18, 2016 The corks will have been popping today at Treasury Wine Estates, the world's largest listed pure-play winemaker, after its net profit more than doubled over the last year. The figures The Australia-based Blossom Hill maker's net profits rocketed to AU$179.5m (£105.5m) for the year to 30 June, up from AU$77.6m the year before. Net revenue was up [...]