Swiss regulator starts action against Credit Suisse over spying claims September 2, 2020 Switzerland’s financial supervisor has opened enforcement proceedings against Credit Suisse over a spying scandal that led to the ousting of former chief executive Tidjane Thiam and tarnished its reputation. The move by the Swiss Financial Market Supervisory Authority (FINMA) intensifies the regulatory pressure on Credit Suisse and follows the completion of a review of the [...]
UK house prices recover from lockdown to hit all-time high in August September 2, 2020 UK house prices recovered from a lockdown-inspired dip to hit an all-time high last month. Annual UK house price growth picked up 3.7 per cent in August, according to Nationwide’s house price index. Prices rose two per cent month-on-month, after taking account of seasonal factors. The average UK house price rose to £224,123, up from [...]
UK house prices: Will the surge last or is it a bubble? September 2, 2020 UK house prices surged to an all-time high last month as pent-up lockdown demand and chancellor Rishi Sunak’s stamp duty cut stimulated the market. The average UK house price rose to a record £224,123 in August, up from £220,935 in July. Bombastic estate agents greeted the figures with glee, variously describing UK house prices as [...]
Barratt shares rise on strong forward sales despite Covid-19 hit September 2, 2020 Shares in Barratt Developments rose today as it announced strong forward sales despite taking a hit from the coronavirus lockdown. Forward sales at 23 August stood at 15,660 homes valued at £3.7bn, compared to 13,064 homes valued at £3bn last August. Barratt shares rose 5.7 per cent to 532p this morning. The company today scrapped [...]
Spending in UK restaurants jumped 34 per cent on Eat Out to Help Out days September 2, 2020 Spending in UK restaurants and fast food outlets was up 34.2 per cent on Mondays, Tuesdays and Wednesdays in August, compared to the same days in July during the government Eat Out to Help Out scheme. Wednesdays experienced the biggest increase during Eat Out to Help Out, as spending grew 39.7 per cent month-on-month, according [...]
Extinction Rebellion: Arrests made as protesters target Parliament September 1, 2020 At least five people have been arrested today after environmental campaigners from protest group Extinction Rebellion blocked streets near parliament today to campaign for new legislation on climate change. Extinction Rebellion protesters were arrested today after they sat down in roads near to Parliament Square to stop traffic. The protesters are calling on MPs to [...]
Apple overtakes value of entire FTSE 100 September 1, 2020 US tech titan Apple today overtook the entire market capitalisation of the UK’s FTSE 100 companies. The iPhone maker’s market capitalisation topped $2.2 trillion (£1.6 trillion) today, overhauling the combined value of the UK’s blue chip index. Apple’s share price has leaped 75 per cent this year and last month the company became the first [...]
Zoom revenue surges on continued pandemic video-conferencing demand September 1, 2020 Video-conferencing provider Zoom last night blasted through analyst revenue and earnings expectations for the second quarter as the coronavirus pandemic continued to drive demand for its services. Shares of Zoom, which have surged almost four-fold this year, leaped 38 per cent in pre-market trading, having hit a record closing high of $325.10 yesterday. Video-conferencing platforms, [...]
UK mortgage lending rises in July as housing market picks up post-lockdown September 1, 2020 UK mortgage lending accelerated in July, a latest sign of a post-lockdown bounce-back in the housing market, and consumers returned to borrowing, data from the Bank of England showed today. Mortgage approvals jumped to 66,300 from just under 40,000 in June and seven times higher than their coronavirus pandemic low of barely more than 9,000 [...]
Saga shares jump on proposed £150m equity raise backed by former boss September 1, 2020 Shares in over-50s insurance and travel business Saga rose today after it confirmed plans to raise £150m via an equity placing backed by its former chief executive. The company said Sir Roger De Haan – its former chief executive and son of the company’s founder – was planning on investing £100m in the company. De [...]
