By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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Financial worries of retail employees is costing the sector £7bn a year

June 21, 2016

Britain's retail workers are so stressed about their personal finances that the industry is paying £7bn for employees taking time off work. Research out today found that 1.7m hours are lost by retail employees taking time off due to financial stress. Nearly three quarters (74 per cent) of staff admitted to being burdened by money worries, a [...]
Experts are not impressed by HSBC’s new 0.99 per cent fixed rate mortgage

June 21, 2016

Money experts have slammed HSBC's latest mortgage offering as a marketing move that shuts out most borrowers. The bank has launched a mortgage with a rate fixed at a record low of just 0.99 per cent for two years. The next lowest available is a two-year deal at 1.14 per cent from the Yorkshire Building Society. [...]
Property transactions edged up in May, but the market stayed sleepy ahead of the EU referendum

June 21, 2016

The property market was subdued in May as the EU referendum kept buyers at bay and buy to let landlords took a break from snapping-up second homes. Property transactions increased by 1.5 per cent between April and May, as sales rebounded somewhat from the dramatic slump after the stamp duty hike hit at the beginning of April, but [...]
Just Eat delivers new chief finance chief

June 21, 2016

Just Eat is serving up a new chief financial officer, after it said this morning that it has poached Paul Harrison, from Sheffield tech company WANdisco. Harrison will join the food delivery platform in September and will replace Mike Wroe, who has been at the company for eight years. Wroe will stay in place through the rest of 2016 and during the first [...]
Whitbread’s share price soars after announcing strong sales growth at Costa Coffee

June 21, 2016

Whitbread, the FTSE 100 hospitality company behind Costa Coffee and Premier Inn, can sleep easy after posting positive quarterly results this morning. In early trading, the company was the biggest riser in the FTSE 100, as its share price jumped 3.59 per cent to 4, 182p. The figures Like-for-like sales at the leisure group were up 1.8 per cent compared to [...]
George Soros warns Brexit would be worse than Black Wednesday

June 21, 2016

Star investor George Soros has said there will be "serious consequences" for the UK economy if the country votes to leave the EU this week. Soros warned sterling would "decline precipitously" if the Vote Leave campaign triumphs in the EU referendum and said Brexit would be even more destructive than Black Wednesday in 1992, when Britain left the [...]
Sky-high rents and business rates are driving London businesses from their traditional homes

June 21, 2016

Rising rents in London are driving businesses out of their traditional hot-spots in the capital, as firms refuse to down-scale to stay in their old locations. Media companies, once happy in the West End, are now setting up shop in Clerkenwell, Farrington and Shoreditch, and accountancy firms are moving from Chancery Lane to Canary Wharf, according to [...]
Here’s the newest skyscraper unveiled for the City

June 20, 2016

Another skyscraper is joining the Gherkin, the Cheesegrater and the Walkie Talkie in the heart of the City; 1 Leadenhall is the latest skyscraper to be unvieled in the heart of the capital's financial district. A glass tower will be built opposite 6-8 Bishopsgate, at the junction of Gracechurch street and Leadenhall street. Currently, the site is occupied by an [...]
Over half of remortgagors lowered mortgage rates in May as EU referendum looms

June 20, 2016

More than half of people remortaging in May chose to lower their mortgage rate, as remortgagors braced themselves for a possible Brexit. A third of borrowers reduced their monthly spend by up to £500, and over a quarter (26 per cent) increased the size of their loan, according to research from Legal Marketing Services (LMS). Read [...]
Sellers are shifting their housing stock in record time despite Brexit worries

June 20, 2016

The time it takes to sell a house has hit a record low, as Britain's housing market continues to prove its resilience despite the backdrop of the EU referendum. The uncertainty of the outcome of the vote doesn't seem to have deterred buyers; property website Rightmove said today sellers only have to wait an average of [...]

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By: Helen Cahill

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