Saturday Sitdown: Mortgage guru Colin Bell on why Brits are ready for 50 year fixed rates February 26, 2022 Following the Bank of England’s recent interest rate rise and all the implications it has for the property and mortgage market, one firm is offering loans at a 30 year fixed rate, with plans to offer 40 and 50 year fixes in the near future. Sold as a massive lifestyle enabler and gives people much [...]
Ukraine invasion hits global markets as £77bn is wiped off FTSE 100 in worst day in years February 25, 2022 Almost £77 billion was wiped off the value of London’s top 100 listed companies on Thursday as global markets plummeted following Vladimir Putin’s invasion of Ukraine. As fighting continues between Russian aggressors and Ukrainian defenders, traders across the world sold off shares as they tried to figure out the consequences. In London, the impact was [...]
War in Europe kills 50 so far: Ukraine begs EU for urgent air defences while Russian Army conquers Chernobyl February 24, 2022 Ukraine is urging the European Union to urgently provide air defence and anti-missile support, and to use “all means” to jam Russian satelitte signals. The plea for help comes as Ukrainian President Volodymyr Zelensky said Russian forces are trying to seize the Chernobyl nuclear plant, site of the world’s worst nuclear disaster. At the same time, Nato [...]
Talks failed: Tube strike going ahead on Tuesday and Thursday on ALL London Underground lines February 24, 2022 Strikes by London Underground (LU) workers are to go ahead next week after talks failed to resolve a dispute over jobs, pensions and conditions. Members of the Rail, Maritime and Transport (RMT) union will walk out next Tuesday and Thursday (March 1 and 3), threatening disruption to Tube services across the capital. The RMT said [...]
UK home sellers overprice their properties by as much as 21 per cent in wake of stamp duty holiday February 24, 2022 Rightmove revealed yesterday that asking prices saw their biggest monthly increase in over 20 years. Despite a property market boom, the gap between the asking price expectations of the nation’s sellers and what buyers are willing to pay is as big as 21 per cent in some areas of the market, according to data shared [...]
Profit margins hit hard as pricing strategies struggle to keep pace with supply chain issues, Covid and Brexit February 24, 2022 A vast majority of UK businesses are struggling to manage market fluctuations caused by supply issues, Covid-19 and Brexit and UK organisations lose out on £451,000 every year on lost productivity, thereby hitting profit margins, according to new data shared with City A.M. this afternoon. A recent study conducted by Forrester Consulting on behalf of intelligent pricing [...]
London Stock Exchange’s FTSE 100 plunges by more than 200 points as Ukraine war heats up rapidly February 24, 2022 The London Stock Exchange’s leading FTSE 100 index plunged more than 200 points, or 2.7 per cent, within moments of opening in reaction to Russia’s invasion of Ukraine. In response to the situation in Ukraine, Boris Johnson is leading a crisis meeting of senior ministers and officials to consider how to respond to Vladimir Putin’s [...]
Lloyds Bank’s profits in the lift as lender’s mortgage book surges to £293bn February 24, 2022 Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul after releasing Covid loan loss provisions thanks to the UK’s economic recovery. The group has reported pre-tax profits surging to £6.9bn in 2021, up from £1.2bn the previous year after releasing Covid loan loss provisions thanks to the UK [...]
Go-Ahead says government decision to strip rail operator from South Eastern franchise cost £51.3m February 24, 2022 Go-Ahead group’s stripping of the London Southeastern rail franchise is to cost the business around £81.3 million, the company said. Bosses revealed they expect to pay the Government £51.3m over its failures in running the service, which it lost last year, and has put aside £30m for a possible fine. Around £49.2m has already been [...]
Invasion of Ukraine: Asian stock markets plunge while oil jumps and all flights ordered to avoid airspace February 24, 2022 Asian stock markets plunged and oil prices surged after Russia’s President Vladimir Putin announced Russian military action in Ukraine. Market benchmarks in Tokyo and Seoul fell 2 per cent and Hong Kong and Sydney lost more than 3 per cent this morning while oil prices jumped nearly 3 dollars (£2.22) per barrel on unease about [...]
