More UK home buyers are using cash to seal deal June 3, 2015 A RECORD high proportion of homes were sold without the need for a mortgage during the first three months of year, a major mortgage provider said yesterday. The share of cash purchases in the housing market reached an all-time high of 38 per cent in the first three months of the year, according to Nationwide. [...]
David Cameron defends Right to Buy scheme after Harriet Harman attacks housing policy June 3, 2015 Prime Minister David Cameron defended his government’s housing policies in the first Prime Minister’s Questions session of the new parliament yesterday. Acting leader of the opposition Harriet Harman attacked the Prime Minister’s plan to extend Margaret Thatcher’s “Right to Buy,” scheme, which will allow housing association tenants to buy their homes at a discount of [...]
Britain’s jobs market has taken off and wages are starting to rise – are young workers benefiting? June 3, 2015 It is not easy moving from school to the office. It has always been a difficult jump, and in the financial crisis, some found it impossible. Witness the surge in youth unemployment in the financial crisis, soaring from 12 per cent at the start of 2008 to 20.2 per cent in early 2011, for [...]
Eurozone economic recovery struggling to gain momentum as unemployment remains high June 3, 2015 Unemployment in the currency bloc was still high at 11.1 per cent in April The Eurozone economy is gradually improving but its recovery is failing to build on a solid start to the year, figures published yesterday show. The rate of joblessness in the Eurozone edged down in April, marking 24 months of [...]
Capital’s boom economy key to Workspace rise June 3, 2015 PROPERTY rental group Workspace reported expectation-beating growth yesterday as the London’s booming business community sent profits up over 40 per cent. In addition, the firm announced a new acquisition to its burgeoning portfolio of prime london properties with the purchase of Angel House for £44m. Workspace recorded growth across the board with total net rental [...]
Profits prove hard to come by as EasyHotel expansion takes toll June 3, 2015 SHARES in EasyHotel slumped yesterday as a doubling in revenues failed to translate to a substantial profits. The chain reported a 12 per cent increase in rooms added during the six months ending 31 March, including the opening of a new hotel in Croydon adding an additional 103 rooms during the period. However, despite reporting [...]
Canaccord increases revenue but losses continue as it restructures June 3, 2015 CANACCORD Genuity, the Canadian brokerage, announced revenue of $232.5m Canadian dollars (£121.7m) for the first quarter of this year. Overall, it had losses of C$26.3m for the first three months of 2015. It had revenues of C$880.8m for the fiscal year to 31 March, a three per cent rise, but the firm still made a [...]
Tourists flock to feel London vibe June 3, 2015 LONDON is a tourist mecca. The capital has just trumped Bangkok, New York, Paris, Amsterdam, Rome, Milan, Barcelona and Prague as the world’s most popular tourist destination for the second year running. Top-class exhibitions, blockbuster entertainment, major sporting events and successes in the West End are expected to translate into a record 18.82m visitors by [...]
Construction firm Kier digging towards deal for Mouchel takeover June 3, 2015 CONSTRUCTION firm Kier Group has moved one step closer to purchasing infrastructure company Mouchel. Kier announced yesterday that it had raised around £312m in a rights issue, selling over 39.6m new shares at 858p each, representing approximately 91.65 per cent of the shares issued during the process. It also said that the Mouchel acquisition is [...]
Rothschild faces battle with Ace for Arms control June 3, 2015 ASIA Coal Energy Ventures (Ace) yesterday revealed that it has been backed by a major shareholder in Asia Resource Minerals (Arms) in its attempt to take over the company. Investment management firm Spinnaker Capital, which owns around 3.52 per cent of the Indonesian coal company, has signed a letter of intent stating that it intends [...]
