House price growth falls to 14-month low February 1, 2017 UK house annual price growth fell to 4.3 per cent in January, down from a year-on-year growth of 4.5 per cent in December. As compared to the month before, house price growth edged up 0.2 per cent, according to figures from Nationwide. But it is thought that overall this year the housing market will be cooler [...]
Rocketing Chinese M&A at risk from new rules and global protectionism February 1, 2017 Chinese mergers and acquisitions (M&A) activity into North America grew by 412 per cent last year, according to figures out today. Outbound acquisitions overall were up 201 per cent in Europe, meanwhile, and globally 114 per cent to $208.6bn (£166bn) in value. Read more: China, Mexico, Japan: Who's afraid of Trump's protectionism? Law firm Clifford [...]
Good news: UK train ticket pricing is getting an overhaul February 1, 2017 It's been a tough few months for train travellers – but finally, there's some good news. The UK's ticket pricing system is getting a much-needed facelift to scrap overpriced routes and make it easier for passengers to buy the cheapest tickets. Some fares for longer, connecting train journeys will be removed because cheaper options exist. [...]
Spending on essentials soars as inflation starts to bite consumers February 1, 2017 Consumer spending on essentials has increased at its highest rate since September 2013 as inflation started to bite in December. Essential spending grew 1.8 per cent in December, rising for the fourth month in a row, according to Lloyds Bank. Grocery spending jumped 2.9 per cent year-on-year, the highest growth rate since July 2013. Read [...]
When it comes to public perception it pays not to short-change staff February 1, 2017 Towards the end of December, there was a row involving luxury department store Harrods. Waiting and kitchen staff took industrial action because they alleged that the business’s owners retained up to 75 per cent of service charge, which reduced pay by up to £5,000 a year. Harrods has subsequently vowed to let staff keep 100 [...]
Why Tesco could be better off leaving Booker on the shelf February 1, 2017 The stock market’s initial reaction to takeover deals can often be a poor indicator of how those deals work out. Just look at the market’s sceptical response to Sainsbury’s purchase of Argos owner Home Retail Group as a recent example. Now we have another unexpected deal in the supermarket sector with Tesco bidding to take [...]
Why the economics profession remains blind to the benefits of Brexit February 1, 2017 The office for National Statistics last week estimated that the UK economy grew at an annual rate of 2.4 per cent in the final quarter of last year. This is slightly above the long-term average growth of the past three decades. But a Financial Times survey this month showed that the majority of economists remain [...]
How to salvage a broken New Year’s resolution February 1, 2017 As we move into February, it is probably fair to assume that many of you will have already abandoned your New Year’s resolutions. You may even be giving yourself a hard time about this and be feeling completely demotivated or lacking in self-worth. The reality is that most of these resolutions were doomed from the [...]
London urgently needs a new devolution deal to protect our city’s economy from Brexit risks February 1, 2017 During the mayoral election, I promised City A.M. readers that I would be the most pro-business mayor London has ever seen. And I’ve spent every day of the last eight months working to keep that promise and to keep London the best place in the world to do business. I’m working with industry leaders from [...]
Exit the dragon: Moonpig founder Nick Jenkins rubbish tips, accurately exercising dogs and how to make a difference February 1, 2017 "My mental maths has certainly got loads better. They take your phone away so we have to do all the calculations in our heads, on the spot," says Nick Jenkins, the Dragons’ Den dragon, founder of Moonpig and businessman whose personal wealth stands at around £150m. Jenkins, who is leaving the BBC show at the end of [...]