UK house prices: Here’s one way to solve the housing crisis – build homes on rural estates January 6, 2016 Here's one the Granthams of Downton Abbey won't like: a major housing body has suggested one way to solve the housing crisis might be to build homes on large rural estates. There goes the neighbourhood… In a rural policy paper, the Royal Institute of Chartered Surveyors (Rics) suggested central and local government should introduce measures [...]
Markit PMI: UK services sector knocked in December by Living Wage fears and Brexit jitters January 6, 2016 Activity in the services sector fell slightly in December, new figures showed have shown, as businesses became increasingly nervous about the impact of the new National Living Wage and the outcome of the EU referendum. Figures by Markit showed the purchasing managers' index (PMI) stood at 55.5 in December – down from 55.9 in November, but above [...]
Another hedge fund bites the dust as Nevsky Capital unveils plans to close flagship fund January 5, 2016 There goes another hedge fund: it's been reported that Nevsky Capital is planning to close its $1.5bn flagship fund – with the fund's founders saying the market environment "is increasingly incompatible" with their investment process. Money will be returned to investors after managers of the Irish-domiciled fund, which invests in emerging and developed market equities, voiced concern [...]
From establishment to privatisation: How Royal Mail has changed during its 500 years of operation January 5, 2016 It's the Royal Mail's 500th anniversary this year – although admittedly, in its current iteration as a £4.5bn plc, the company is rather a different creature to what it was when it was established in 1516 as a service for King Henry VIII. The company, which currently employs 140,000 people, reached its zenith in 1975, when it had [...]
Overheads, staffing – and it’s the economy, stupid: The 10 reasons UK leaders lose 34 nights of sleep a year January 5, 2016 If you found it hard to nod off last night, you're far from the only one: a new study has shown business decision makers lose 5.27 hours of sleep a week – that's 34 nights a year – over their work. The survey, by Heathrow Express, found 35 per cent of leaders admit to having trouble dropping off [...]
The US Environmental Protection Agency is suing Volkswagen for billions of dollars over clean air violations January 5, 2016 The US Environmental Protection Agency (EPA) has filed a lawsuit with a court in Detroit over clean air violations which could cost it billions of dollars. Documents filed with a court in Detroit yesterday allege VW and its subsidiaries "violated" clean air laws by selling vehicles that weren't as described to the EPA. "Nearly 600,000 diesel engine vehicles [...]
Dow Jones suffers worst start to the year since 2008 – as more than £38bn is wiped off FTSE 100 thanks to China volatility and Middle Eastern uncertainty January 4, 2016 Fears over China sent US stocks tumbling yesterday, with the Dow Jones Industrial Average down 467 points at its low for the day – headed for its worst first-day percentage drop since 1932. The index fell by 1.58 per cent to 17,149. The Nasdaq dropped 2.08 per cent and the S&P 500 lost 2.35 per cent, giving both [...]
UK house prices: There are now 10 buyers for each property on the market – with first-time buyers hit hardest January 4, 2016 Thinking of putting your house on the market this year? Now's the time to do it, after new figures suggested there are now 10 prospective buyers for each property on the market. The National Association of Estate Agents' (NAEA) November Housing Market Report showed the number of house-hunters grew 20 per cent in during the [...]
Brace yourselves: Former Greek finance minister Yanis Varoufakis is launching his own political movement, DiEM 25 January 4, 2016 Yanis Varoufakis – Greece's motorbike-riding, leather jacket-wearing, Paris Match-posing former finance minister – is back, with plans launch his own political movement. German socialist newspaper Neues Deutschland reported today that Varoufakis will launch a "pan-European activist network" known as the Democracy in Europe Movement 2025 (DiEM25 to its friends). The movement is billed as the "third alternative" between renationalisation campaigns and "anti-democratic EU institutions", [...]
