UK house prices were flat in October November 2, 2016 House prices were flat in October, as the housing market struggled to regain the momentum it lost following the EU referendum. According to data from Nationwide, there was no house price growth month-on-month in October. House prices increased 4.6 per cent year-on-year, down from an annual growth of 5.3 per cent in September. Read more: [...]
Next battles tough third quarter with retail sales down nearly six per cent November 2, 2016 What a difference a few months make. In August, shares in Next spiked at the open as it said Brexit hadn't affected consumer spending. For its third quarter, though, total sales were down 3.5 per cent and retail sales were down 5.9 per cent. On the bright side, sales were up in October, while the retailer's sales [...]
Housebuilder Persimmon shrugs off Brexit vote but says it’s staying cautious November 2, 2016 Housebuilders' shares were among the hardest hit after the Brexit vote – but it seems investors may have been over-cautious, after Persimmon reported a 19 per cent jump in sales. The figures In a trading statement this morning Persimmon, the UK's biggest housebuilder, said since it reported its half-year results at the end of August, sales have [...]
Inflation to hit four per cent by end of 2017 November 2, 2016 UK inflation is set to rise from 0.7 per cent to four per cent by the end of next year, thanks to the falling pound. That's what the National Institute for Economic and Social Research (NIESR) is forecasting anyway; the think tank says inflation will peak in the latter half of 2017 with a weak sterling [...]
Workers with mental health issues contribute £226bn to UK GDP November 2, 2016 There's still a way to go in destigmatising mental health issues, so a new report has quantified the economic contribution those who do have mental health issues make to the UK, while pointing out it could be even higher. UK workers with mental health issues contributed £226bn to UK GDP in 2015. That contribution made up 12 per cent of [...]
TUI must not get clouded by Brexit drama if it wants to woo more holidaymakers November 2, 2016 As the TUI Group embarks on a Europe-wide advertising campaign aimed at unifying the travel brand, it’s a good time to examine how the company has been faring. Recently, the group saw its share price rise following a better-than-expected outlook for its full-year earnings. YouGov tracking data suggests TUI’s brand Thomson has performed admirably in the midst [...]
Autumn Statement 2016: Should Hammond try his luck at some radical tax simplification? November 2, 2016 Scrap corporation tax. Scrap council tax. Scrap capital gains tax. And inheritance tax too. And business rates, the TV licence fee, the apprenticeship levy, all stamp duties, alcohol duties, tobacco duties – get rid of them all! These are the somewhat provocative proposals from a new report covered on today’s front page of City A.M. [...]
17m of us are now part of the sharing economy – but could be uninsured for it November 2, 2016 Nearly a third of Brits are now part of the so-called sharing economy, renting out their homes, cars, and even their dogs, or using these services themselves. Some 17m people across the country participate in the new and growing sector, while one in 10 offer up their services, according to new research by Lloyds Bank Insurance Of [...]
City Moves for 2 November 2016 | Who’s switching jobs November 2, 2016 Prudential UK & Europe Prudential UK & Europe has appointed Clare Bousfield to the role of CEO Insurance, subject to regulatory approval. With over 25 years’ experience in the insurance and financial services industries, Clare has built a strong reputation for leading and developing high performing teams across multiple business locations. She was a key leader [...]
Atlantic Star Airlines calls on government to resolve St Helena airport “debacle” November 2, 2016 Atlantic Star Airlines is calling on the government to discuss the rapid introduction of "a much-needed air service" in and out of St Helena. Representatives from the airline are meeting with the former department for international development (DfID) minister Lord Foulkes today about the issue concerning the British-owned island in the south Atlantic. Lord Foulkes [...]