Report says shortage of homes in London will stunt job growth October 8, 2012 LONDON’S housing shortage is set to become severe enough to harm job creation in the capital, a report claimed this morning. Living conditions will become more cramped with young people forced to stay in the rental market for even longer, according to Cluttons, a group of consultants and chartered surveyors. “Large increases in demand for London [...]
Surveyors predict green shoots for housing market by year end October 8, 2012 SURVEYORS expect the housing market to pick up towards the end of the year, according to a leading survey released this morning. Sales expectations have jumped to their highest level since May 2010, the Royal Institution of Chartered Surveyors (RICS) announced today. The net balance of surveyors expecting a higher number of home sales in the [...]
Key tourist attractions knocked by rainy summer and Olympics October 8, 2012 LONDON’S tourism hotspots have been hit hard by a combination of Britain’s wettest summer for 100 years and the distraction of the Olympic Games, an industry group revealed yesterday. Visitor numbers to London dropped by an average of 15 per cent in the three months to August 2012 compared to the same months in 2011, [...]
OECD figures foresee an uptick in British economic prospects October 8, 2012 ECONOMIC growth is set to pick up in the UK even as it weakens across the Eurozone, the Organisation for Economic Co-operation and Development (OECD) said yesterday. The Paris-based group released its latest composite leading indicators, designed to predict economic turning points in the near future. The Eurozone’s indicator slipped to 99.4 in August, from 99.5 [...]
Boost for mortgage lending October 8, 2012 The number of mortgages available to prospective home-buyers has started to expand, according to the Moneysupermarket website. The group also claimed that lenders are offering high loan to value (LTV) ratio deals. “Since April, there has been a 14 per cent increase in the number of 75 per cent LTV mortgages available, rising from 636 [...]
Stats office launches consultation October 8, 2012 The Office for National Statistics (ONS) yesterday launched its consultation over possible changes to how it calculates the retail price index (RPI) measure of inflation. The ONS has proposed four changes surrounding the so-called Carli formula, as well as regarding how private rental costs are measured. The consultations will close at the end of November [...]
Swiss deflation starts to ease October 8, 2012 Swiss consumer prices fell 0.4 per cent in September compared to a year earlier, according to official data released by its Federal Statistics Office yesterday. However, the data contained some signs of recent inflation, with prices picking up 0.3 per cent compared to August. “We expect consumer price inflation to be positive again by the [...]
City Moves | Who’s switching jobs October 8, 2012 Dechert Lewis Ho has been appointed to Dechert’s Hong Kong office as a partner in the corporate and securities practice. He was previously partner at the Simmons & Simmons Beijing office. He has represented international pharmaceutical companies including GlaxoSmithKline and Novartis, served as vice chairman of the IP Working Group of the European Union Chamber of [...]
Best of the Brokers October 8, 2012 DEUTSCHE BANK Deutsche has given easyJet an upgrade from “hold” to “buy”, based on a positive update and its new allocated seating plan, and has increased its target price by 17 per cent to 745p. SEYMOUR PIERCE Seymour Pierce maintains its “hold” rating for the luxury fashion retailer, judging it a “long term growth story” [...]
FTSE falls as banks and miners hit by concerns over earnings outlook October 8, 2012 BRITISH blue chip shares dipped yesterday with growth-linked banks and miners hit by concerns about earnings and the global outlook, although analysts said the market’s uptrend would resume soon. UK banks fell 1.2 per cent, while mining stocks were down 0.4 per cent after the World Bank cut its growth forecasts for China and as [...]
