Variable mortgage deals rise as interest rate hike prospect wanes March 23, 2015 The fading prospect of an imminent interest rate hike prompted more mortgage borrowers to opt for variable rates during February than any month since November 2012, data from a mortgage broker today showed. One in 10 homebuyers and remortgaging homeowners chose variable rates in February, up from 8.6 per cent in January and the highest [...]
London rent price growth stalls as regions outpace the capital March 23, 2015 London rental growth is being outpaced by the regions after prices in the capital stalled in the three months to February, according to a survey out today. HomeLet’s Rental Index found that rent prices rose across seven of the 12 UK regions, with the north east and south west of England leading the way with [...]
Applications rise for powers to acquire land March 23, 2015 THE NUMBER of compulsory purchase orders (CPOs) submitted to councils soared by 61 per cent last year in a sign that more development activity is under way across the UK. Research out today by law firm Bond Dickinson shows that 58 applications were made last year for CPOs compared to just 36 in 2013 – [...]
Aldi aims to leave rivals in its wake by adding 60 new stores March 23, 2015 Discount retailer Aldi looks set to outpace the big four this year as it ramps up plans for further expansion by opening 60 new stores in the UK this year. While the chain opened its first UK outlet 25 years ago, it was not until the onset of the financial crisis – and the subsequent [...]
Fatburger muscling into UK market March 23, 2015 LONDON’s burgeoning burger market will have to make more room after US chain Fatburger announced its intention to launch its first UK outlet in the city. The chain was founded in 1952 by current chief executive Andy Wiederhorn and now has 150 branches across the US.
Lending Works targets over 55s ahead of pensions freedom day March 23, 2015 Online peer-to-peer lender Lending Works is the latest firm looking to benefit from the anticipated dash for cash in April when pension freedoms come in, after launching new products today for the over-55s. From April, the firm will offer four new features for the pensions market including a bonus for new lenders aged over 55 [...]
Funding Circle reaches £1bn mark March 23, 2015 London tech firm Funding Circle has become the latest UK startup to be valued at £1bn. The peer-to-peer lender, started by (left to right) Samir Desai, James Meekings and Andrew Mullinger, would pass the benchmark with a £50m fundraising planned for within two months.
City boss Gerry Grimstone: The buck has to stop with board directors March 23, 2015 Who is to blame when a banker many tiers from the top of the firm misbehaves? The banker alone? Their manager? The boss of their division? The chief executive? It can be chaotic working out who should be punished in a vast organisation across dozens of countries and hundreds of thousands of workers. But there [...]
CityFibre gets revenue boost but losses grow March 23, 2015 CityFibre saw its revenues rocket last year but failed to stem rising losses on its bottom line, the firm revealed this morning. The fibre optic specialist is the largest independent provider of fibre infrastructure in the UK, with a focus on Britain’s mid-sized cities, including York, Coventry and Doncaster. The firm’s specialisation in pure [...]
Eon prepares to quit struggling North Sea with sale of oil assets March 23, 2015 GERMAN energy provider Eon has become to the latest major company to move away from the North Sea, as it prepares to sell off its assets in the region. The company is reported to have appointed Bank of America Merrill Lynch to look for buyers. The group reported a €3.2bn (£2.3bn) loss for 2014 earlier [...]
