Surge in mortgage approvals has no impact on house prices ahead of stamp duty surcharge – but the proportion of people renting rises again March 3, 2016 The impending stamp duty surcharge is distorting the housing market, with a "sharp" increase in the number of mortgage approvals in the first month of the year – the highest number since January 2014. But despite this, there has been just a slight uptick in house price growth, according to Nationwide, up 0.3 per cent in February [...]
BHP BIlliton’s share price rise as it agrees to pay at least $1.1bn compensation with Vale after Samarco mine’s Bento Rodrigues dam disaster March 3, 2016 BHP Billiton and Vale have agreed to pay at least $1.1bn (£780m) in compensation to the communities affected by the Bento Rodrigues dam disaster, at the jointly owned Samarco Mineracao mine in Brazil. The disaster, in which around 60 million cubic metres of iron waste flooded the district of Mariana, occurred last November, killing 17 people, injuring [...]
EU referendum: Wages would rise in the event of a Brexit, Lord Rose admits during heated exchange with Andrew Tyrie’s Treasury select committee March 3, 2016 He might be campaigning to keep Britain in the European Union, but Lord Rose might have inadvertently scored an own goal when he admitted yesterday that a Brexit would result in higher wages for domestic workers. The former head of Marks & Spencer, who is leading the Britain Stronger in Europe campaign, told MPs yesterday [...]
Northern Powerhouse: Growth of Liverpool, Manchester and other northern cities must be supported – not dismissed at this early stage March 2, 2016 It was back in June 2014 when the chancellor first mooted the idea of a Northern Powerhouse, an ambitious proposal to increase the connectivity of the UK’s northern cities and rebalance the economy. Fast forward to 2016 and the Northern Powerhouse continues to make headlines, with a report release this week casting doubt on its [...]
London weather: Storm Jake to bring snow and ice to London, South East and South West on Friday, Met Office warns March 2, 2016 Storm Jake could bring snow and ice to London by Friday, with the Met Office issuing a yellow weather warning for the capital as the latest weather front moves south this week. The storm has already caused havoc in parts of the country, with gusts of up to 70 mph felling trees and dislodging roof [...]
Wesfarmers culls Homebase’s exec team just days after acquisition from Home Retail Group completes March 2, 2016 Homebase's new owners Wesfarmer is launching a cull of the DIY chain's leadership team, just days after the acquisition was completed. Managing director Echo Lu, who joined the business last April, has already left the business, while finance director Don Davis, commercial director Paul Emslie, retail operations director Ewan McMahon and marketing director Chris McDonough – [...]
Sainsbury’s wins complaint against Tesco’s price matching guarantee advert, after watchdog ASA bans it for being misleading March 2, 2016 Tesco's price-matching "brand guarantee" advert has been banned for being "misleading" after a regulator upheld a complaint made by rival supermarket Sainsbury's today. The advert, which appeared in national press in October last year as part of chief executive Dave Lewis' update from its earlier price promise, said consumers would "never pay more for your branded shop". [...]
FCA bans Deutsche Bank trader Michael Curtler from working in the UK over Libor March 2, 2016 A former Deutsche Bank trader has been banned from working in the UK's financial services industry following a criminal conviction for fraud in the US. Michael Curtler pleaded guilty for his role in a conspiracy to manipulate Deutsche Bank's US dollar Libor submissions last October. He was the first Deutsche Bank trader charged in the [...]
Barclays’ share price fall and profit losses and Sports Direct’s looming FTSE demotion remind us of the lasting impact of corporate failings March 2, 2016 Barclays has hit the headlines again with news of a dramatic fall in share prices and profit losses. Like many of the world’s big banks, the organisation has been hampered by sins of the past, which have eroded employee and consumer trust. Its response has been one of drastic internal restructuring, and assertions of a new approach [...]
Quarter of Britons would take a pay cut for fewer hours – but businesses are worried it will harm productivity and be a logistical nightmare March 2, 2016 Daily grind getting to you? You're not alone. Nearly a quarter of British workers would be willing to take a pay cut in return for fewer working hours. A new report from Scottish Widows’ think tank, the Centre for the Modern Family, found that 23 per cent of would be happy with a smaller pay packet if [...]
