Saudi Aramco set to be valued at more than $2 trillion as Saudi Arabia confirms five per cent stake sale April 25, 2016 Saudi Aramco, the Kingdom of Saudi Arabia's state owned oil company, will be valued at over $2 trillion (£1.38 trillion) when less than five per cent of the company is sold through an initial public offering. The valuation would make it the most valuable company in the world, over taking Apple which has a market capitalisation of $607bn. The [...]
UK house prices: Hundreds of thousands of homeowners who bought in 2007 are still stuck in negative equity April 25, 2016 Average house prices in more than half of UK towns and cities are still below 2007 levels, new research has claimed, trapping hundreds of thousands of people who bought at the top of the market in negative equity. Around 1.5 million property transactions were completed at the top of the market before the banking collapse [...]
Sirius Minerals share price rises as it reiterates confidence over finding funding for its Yorkshire potash mine April 25, 2016 The figures Sirius Minerals reported losses of £7m in the nine months to the end of December, while it had cash of £29.1m at the end of this period. This was broadly in line with a loss of £9.6m in the 12 months to March 31, while analysts expected cash reserves of £26.6m. The latest batch of [...]
As the world prepares for the Chelsea Flower Show, we meet up with the young superstars of landscape architecture April 25, 2016 Harry and David Rich, 28 and 25 Although not involved with the London shows this year, Welsh brothers Harry and David Rich already have a clutch of medals from three successive years at Chelsea. Having grown up with a love of gardening, it’s no surprise the siblings both decided to go into landscape design. Their [...]
Living on a houseboat: A cheap housing alternative to expensive rents and high London property prices April 25, 2016 I live on a houseboat. When I tell people this, people want to know everything: how I breathe, eat, sleep and – worryingly often – how I go to the loo. It’s all up for discussion. When you live on a barge, there’s a danger of your home becoming the most interesting thing about you. [...]
“Less is more”: Is this the real reason the Bank of England hasn’t hiked interest rates? April 25, 2016 Have we all just been given an unusually candid insight into the mindset of the Bank of England's notoriously dovish monetary policy committee? An economist at the Bank has revealed that it has been offering its employees trendy mindfulness courses – and its mantra is "less is more". Is it a coincidence Mark Carney hasn't raised rates for almost three years? The [...]
Manufacturing industry still stagnant, but does the latest CBI survey point to a recovery on the horizon? April 25, 2016 The manufacturing industry had a mixed start to the year, though the latest CBI industrial trends survey, out today, showed tentative signs of a pick-up over the next few months and provided some grounds for optimism. Manufacturers reported output was stable over the first three months of 2016, while orders dipped slightly but employment picked up. [...]
BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
Get acquainted with the world’s sexiest homes: 100 Contemporary Houses invites you to explore innovative architectural designs April 25, 2016 "The house is intimately related to the idea of shelter,” says Swiss architect Mario Botta. “A cave carved out of the rock is like a mother’s womb. When I am tired of the world, I want to go home. There I can regain my energy to prepare for the next day’s battle.” Our lives are [...]