House prices grow for tenth month in a row, but market continues to cool June 1, 2022 House prices have growth for the tenth month in a row, according to the latest figures, though costs are continuing to slow in their steamroll. The average price of a home in the UK grew 11.2 per cent to £269,914 in May, slowing slightly from the more than 12 per cent growth reported in April, [...]
Frasers adds troubled Missguided to empire in £20m takeover June 1, 2022 Frasers Group has snapped up beleaguered online retailer Missguided, the British retail giant confirmed in a regulatory filing today. The Mike Ashley-founded group, which owns House of Frasers and Sports Direct, has bought Missguided for £20m, following its collapse earlier this week. Fast fashion rival Boohoo was understood to be interested in buying the collapsed [...]
UK cost of living crisis to tame runaway house prices, says Savills May 31, 2022 The UK’s cost of living crisis is expected to stunt house price growth for the rest of the year, according to estate agents Savills, taming property costs which continue to hit record levels. Affordability pressures will leave house prices no choice but to slow in their ascent, as property deals and mortgage approvals fall in [...]
Mortgage approvals fall following interest rate rises May 31, 2022 Mortgage approvals have fallen to the lowest level seen since the peak of the UK’s house-buying frenzy in June 2020, according to official data today. Brits were approved 66,000 mortgages in April, down from 69,500 in March, data from the Bank of England has revealed. This is slightly below the pre-pandemic average of 66,700, [...]
Sadiq Khan sets aside £43m for Londoners struggling to keep homes warm May 31, 2022 London mayor Sadiq Khan has set aside £43m to boost his Warmer Homes programme, which seeks to support those in poorly insulated properties. With energy bills expected to rise again this winter, amid a cost of living crisis, Khan is looking to create grants of between £5,000 and £25,000 available to low-income households. Energy regulator [...]
GSK offers £2.6bn for US vaccine maker after failing to bring Covid jab to market May 31, 2022 GSK has offered to pay up to $3.3bn (£2.6bn) for a US vaccine maker, after the pandemic pushed the importance of biotechnology to the top of the healthcare agenda. The British pharmaceutical giant is set to pay $2.1bn (£1.6bn) upfront, and up to $1.2bn (£951m) more if the biopharmaceutical firm Affinivax meets specified development milestones, [...]
US chipmaker Qualcomm eyes Arm stake and takeover May 31, 2022 US chipmaker Qualcomm is reportedly looking to buy a stake in the UK’s semiconductor darling Arm. “We’re an interested party in investing,” Cristiano Amon, Qualcomm’s chief executive, told the Financial Times last night. “It’s a very important asset and it’s an asset which is going to be essential to the development of our industry.” Amon [...]
Homes sit on the market for longer as prices hit yet another record high, says Zoopla May 30, 2022 The time between listing a property and a sale is growing increasingly longer, according to property platform Zoopla, as house prices hit yet another record high. In London, the average time it takes for a three-bed house to be whisked off the market has jumped from 17 days in March to 21 days in April. [...]
Exclusive: M&G snags two major tenants in 40 Leadenhall – before it’s even built May 30, 2022 Investment firm M&G Real Estate has snagged two major tenants in the new development at 40 Leadenhall, City A.M. can reveal today – despite it still being under construction. The firm invested £875m to buy and develop the site – nicknamed Gotham City – in 2019. “It is the largest single transaction we’ve ever [...]
Space SPACs: Uncertainty surrounds the mega-IPOs of the future May 26, 2022 The climate and energy crisis on Earth has markets rattled, but could investors be wooed by the plan to put nuclear energy plants on the moon and make humans interplanetary? Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX, and satellite spinoff Starlink, have been pegged by analysts to be the mega-IPOs of the future for [...]