2 charts that show UK house prices are approaching warp speed December 17, 2013 House prices have hit a fresh record high in the UK, and that may give some fresh cause for concern about the state of Britain's property market. Bank of England governor Mark Carney recently pledged not to allow house prices to reach "warp speed" as they continue to rocket – especially in London. They've risen [...]
Row over tax benefits for Spanish football heats up as Ombudsman slams EU Commission December 17, 2013 European ombudsmen Emily O'Reilly has told the European Commission to stop dithering and come to a decision as to whether to open infringement proceedings against Spain, with regards to alleged unfair tax advantages for Spanish football clubs. A complainant representing investors in other European football clubs has claimed that the Commission's failure to act so [...]
UK inflation is finally near target – falls to November 2009 low December 17, 2013 Bank of England governor Mark Carney will be having a good morning. Inflation in the year to November has come in at 2.1 per cent – a fall from 2.2 per cent last month. Analysts had expected consumer price inflation (CPI) to remain unchanged. That's still above the Bank's two per cent target, but it's [...]
Markets are hooked on one big event December 17, 2013 Markets are still fixated on one big event – The Federal Reserve announcement at 7.00pm tomorrow. The Federal Open Market Committee (FOMC) may decide to start slowing the pace of its asset purchases, as the US economy recovers and the Fed doesn't deem QE as necessary. Investors expect the withdrawal of that support to make [...]
What you need to know before the open – 17/12 December 17, 2013 A string of inflation numbers today will provide the main focus for markets, with UK data for November expected to remain at multi month lows – 2.2 per cent on an annualised basis. The US consumer price index could well rise on an annualised basis, which may prove telling, given the current uncertainty [...]
Boris Island misses out on new runway shortlist December 17, 2013 Both Heathrow and Gatwick have been shortlisted as possibilities for new runways by the Airports Commission this morning. None of the Thames Estuary options have made the shortlist, but the commission said that it will be deciding next year whether the Isle of Grain – Boris Johnson's favoured location – could provide a feasible option alongside [...]
Any Other Business – 17/12 December 17, 2013 IT’S good to see that a bit of jail time hasn’t stopped friends of Vicky Pryce (Chris Huhne’s ex-wife and member of City A.M.’s shadow MPC) from inviting her to their Christmas festivities. The Capitalist is pleased to hear that Pryce, who spent two months in Holloway Prison for perverting the course of justice, had [...]
Smashing through the glass elevator December 16, 2013 Inga Beale will be first female chief executive of 325-year-old Lloyd’s of London market LLOYD’S of London yesterday appointed Inga Beale as its new chief executive – the first woman to be given the role in the insurance market’s 325 year history. Beale will take over from Richard Ward in the New Year, and joins [...]
The £30m man: London clubs count cost of Villas-Boas December 16, 2013 FOOTBALL manager Andre Villas-Boas cost Tottenham and Chelsea a combined outlay of close to £30m in less than two-and-a-half years in England. The Portuguese’s 17-month tenure at Spurs ended yesterday when he was sacked, just hours after losing 5-0 to Liverpool in the Premier League club’s worst home defeat for 16 years. Villas-Boas is thought [...]
Finance firms contribute £65bn to UK tax coffers December 16, 2013 THE UK’S financial services contributed £65bn in taxes during 2012-13, rising £2bn from last year to make up more than one tenth of all revenues. Taxes borne by and collected from financial institutions rose to 11.7 per cent of all Her Majesty’s Revenue and Customs (HMRC) in 2012-13, according to research by PwC and the [...]