MPC decision on knife edge August 4, 2008 The Bank of England Monetary Policy Committee’s (MPC) decision on interest rates on Thursday will be a close call according to leading analysts who believe a hike is possible. The nine-member committee, which has left rates on hold at 5 per cent for the past three months, was split three ways in July with the [...]
The shape of things to come August 14, 2008 Government rules on green homes mean that eco-houses are coming. It’s time to get used to the idea, says Alex Delmar-Morgan Nobody denies that if the world heats up, we will have to change the way we live, build and get around. As recently as five years ago, phrases like “global warming” and “carbon emissions” [...]
Jon Moulton: why making money is my hobby as well as my profession September 5, 2008 The City’s most outspoken private equity chief talks to Katie Hope about the credit crunch At a time when most of the financial services sector is in despair over how bad the economic crisis is, Jon Moulton can barely contain his glee. He estimates the credit crunch will go on for “at least two years” [...]
London bucks retailer gloom July 21, 2008 Central London retailers are defying the economic gloom, according to figures from the British Retail Consortium. Retail sales in June were 8.7 per cent higher than a year ago, although the rate of growth is weaker than in 2007 when an increase of 11 per cent was reported. Footfall was also higher than in June [...]
UK mortgages crash July 1, 2008 House prices were yesterday forecast to plummet even further as mortgage approvals hit their lowest level since records began and below the level of the 1990s recession. Data from the Bank of England showed that mortgage approvals for house purchases had plummeted to 42,000 in May from 58,000 in April. Mortgage approvals have now dropped [...]
It is still not the time to be buying into retail stocks July 31, 2008 The European General Retail sector has fallen by about 25 per cent so far this year. But does this sharp decline in price make retail shares a good buy? We think that there are a variety of reasons to remain wary. The first reason is a depressed outlook for consumer demand. With continued worries about [...]
HBOS looks to raise private funds for help August 4, 2008 HBOS has asked investment bank UBS to raise a private investors’ fund to help it offload £400m of investments, as it looks to prop up its balance sheet and cut back on investments in troubled times for the banking sector, it emerged yesterday. The UK’s largest mortgage lender has called on UBS to create a [...]
Brain-drain? It’s nothing but a blip September 10, 2008 Lots of City workers are heading for Dubai at the moment, but don’t worry: London will lure them back soon, says Max Orbach We all know somebody who has re-located to Dubai, Singapore or even Moscow in the last few months, as the British economy has wobbled, house-prices have fallen and inflation has risen. While [...]
Fears mount for Bradford & Bingley as shares flop July 8, 2008 Bradford & Bingley’s stock plunged to an all-time low of 42p yesterday – well below its rights issue price of 55p – as concerns over the troubled lender’s future intensified. Fears also increased that the lender would issue another profit warning, due to the deepening crisis in the housing market, when it releases the prospectus [...]
Savills sales drop 45 per cent in a year July 9, 2008 Shares in property giant Savills dived more than 10 per cent yesterday after the firm said sales in its residential business were 45 per cent down year on year. Piling misery on the battered housing market, Savills warned that the cost of prime property in London (homes priced between £1m and £5m) fell by 7.5 [...]