Only one in 20 buyers not fixing mortgages as rates start to rise March 24, 2014 MORE than 95 per cent of new home buyers are taking fixed mortgages, as the property market surges and interest rates begin to creep upwards, according to mortgage lenders. The Mortgage Advice Bureau (MAB) says that 19 in every 20 people were choosing fixed rather than variable rate mortgages in February, up from fewer than four [...]
Move over M&S, our City leading ladies are here March 24, 2014 THE LATEST M&S gaggle of leading ladies was revealed yesterday. Wearing the embattled chain’s wares this time round are actress Emma Thompson, singers Rita Ora and Annie Lennox, model Alek Wek, campaigner Doreen Lawrence, east London fashion powerhouse Lulu Kennedy and engineer Roma Agrawal. It’s not just a line-up of inspiring women, it’s an M&S line-up [...]
Humble Grape boldly storms Seedrs’ crowdfunding charts March 24, 2014 A WINE company set up by a former Icap employee is currently making waves on equity crowdfunding site Seedrs. Founder James Dawson wants Humble Grape to open its first wine bar in Shoreditch, and its campaign is the “biggest mover” on the Seedrs site this week, having raised 66.2 per cent of its £250,000 target, [...]
Albemarle stock is suspended as lenders pull out March 24, 2014 TROUBLED pawnbroker Albemarle & Bond yesterday suspended its shares from trading on London’s Alternative Investment Market after lenders said they would no longer support the firm’s turnaround plan. Albemarle shareholders could face losing their money while the firm’s 1,000 staff could lose their jobs. “These remaining options open to the company, which could include the [...]
BlackRock gives new market darling Boohoo.com its vote of confidence March 24, 2014 THE WORLD’S largest money manager BlackRock yesterday joined hedge fund guru Crispin Odey in revealing itself as a major shareholder in online fashion retailer Boohoo. The US money manager, which was founded by chief executive Larry Fink, has taken 56m shares in the company, worth around five per cent of the business. It is a [...]
Scottish budget would depend on oil after exit March 24, 2014 THE SCOTTISH government would be too dependent on volatile oil and gas revenues if the country became independent, according to two reports released today. Research published by the Centre for Public Policy for Regions (CPPR), an arm of Glasgow University, shows the reliance of the country on tax revenues from offshore energy. Another report by [...]
Big six defend energy market ahead of competition review March 24, 2014 THE BIG six energy firms yesterday defended competition in the market, ahead of the regulators’ findings on the matter later this week. Ofgem and the Office of Fair Trading are due to decide whether to refer the investigation into whether the energy market operates fairly to the Capital Markets Authority. “Competition in the energy market [...]
Managers point to contracting Chinese industry during March March 24, 2014 CONCERNS for the strength of the Chinese economy were heightened yesterday, as an indicator suggested that the manufacturing sector has contracted in the first quarter. Markit and HSBC’s manufacturing purchasing managers’ index (PMI) suggests that the country’s colossal industrial sector declined in March, with a score of 48.1, below 50 and indicating a small drop [...]
Thames Water hunting sewer backers March 24, 2014 BRITAIN’S biggest water and sewage services provider will formally advertise for backers in May for its controversial £4bn supersewer. Thames Water, owned by a group led by Australian investment bank Macquarie and including Chinese sovereign fund China Investment Corporation, is expected to get some of the project’s funding from its shareholders. Thames plans to set [...]
Asda plans HQ redundancies March 24, 2014 ASDA has announced around 200 job losses among its senior managers at its head offices in Leeds and Leicestershire amid mounting competition among Britain’s major grocers. The US-owned chain, which alerted staff yesterday morning, said the redundancies follow a review into the business last year and recognising “a structural change taking place in the retail [...]