London housing outstrips country as prices rocket January 14, 2014 LONDON house prices are rising nearly four times as fast as properties outside the south east of England, as the recent heat in the housing market concentrates on the capital. The price of London property rose by 11.6 per cent in the 12 months to November 2013, while prices outside London and the south east [...]
The French embassy’s strange attack on me misses the point January 14, 2014 IT was Adam Smith, the great economist, who put it best. “There is a great deal of ruin in a nation”, he once explained, seeking to reassure a panicky young interlocutor. Smith’s point was immensely powerful: it is very hard even for the most misguided, most economically illiterate of politicians to destroy a country’s economy. [...]
What the other papers say this morning – 15 January 2014 January 14, 2014 FINANCIAL TIMES Cameron shelves migration report David Cameron shelved a government report on EU migration, after Theresa May, home secretary, failed to provide evidence to support her case for imposing tighter curbs on immigrants. May, whose department was responsible for drafting the report, said last month there was “abuse of free movement” and that some [...]
Morrisons loses market share to its competitors January 14, 2014 WM MORRISON’S troubles over Christmas were further underscored yesterday by figures that showed that the grocer was the only one of the big four supermarkets to suffer a fall in overall sales in the past 12 weeks. Kantar Worldpanel data showed the retailer’s market share dropped to 11.5 per cent in the 12 weeks to [...]
UK keeps place in economic freedom ranks January 14, 2014 THE BRITISH economy held its spot in a major US think tank’s economic freedom rankings for 2014. The UK came in 14th place, unchanged from last year, sandwiched between Bahrain and the Netherlands, and fourth in the European Union. Ireland jumped two places to 9th, making it the highest-ranking EU country on the Heritage Foundation’s [...]
JP Morgan falls to loss on huge litigation bills January 14, 2014 JP MORGAN made a loss in the last three months after crushing fines and bills to settle legal claims, the investment bank said yesterday. Legal bills came to $9.2bn (£5.6bn) in its corporate arm, causing the bank to lose $380m in the third quarter of its financial year, down from a profit of $5.7bn in [...]
Miliband mulls cap on market share of banks January 14, 2014 LABOUR leader Ed Miliband is reportedly planning to introduce a cap on the maximum market share of UK banks if he wins the next general election. The leader of the opposition plans to legislate for a cap on how large a bank can become and will announce his plans on Friday, according to BBC Newsnight. [...]
Inflation at target after four years riding high January 14, 2014 INFLATION finally fell back to its two per cent target in December, official data showed yesterday, after more than four years of running too high. The drop from 2.1 per cent will help Bank of England governor Mark Carney’s credibility, boosting his reputation as inflation has dropped since he took the role in the summer. [...]
Watchdog’s warning: cutting migration will push up national debt January 14, 2014 CUTTING net immigration to below 100,000 per year will push up Britain’s national debt by around 20 per cent over the coming decades, the spending watchdog warned yesterday. Immigrants tend to be of working age and so do not cost the UK much on education, and will typically pay many years of tax before claiming [...]
Sellar Property plots 27-storey residential tower next to Shard January 14, 2014 THE DEVELOPERS behind The Shard are planning to build a 27-storey, luxury residential tower next to the iconic skyscraper in London Bridge. The 160,000 square feet building, which was revealed at a public consultation yesterday, will contain around 150 apartments, as well as new public space and shops. Renzo Piano, the architect behind the Shard, [...]
