House price growth slows for first time in 15 months as Brits battle scaling mortgage rates November 1, 2022 Annual house price growth in the UK slowed to 7.2 per cent in October, from 9.5 per cent in September, according to Nationwide this morning. It means the average cost of a home in the country now stands at £268,282. Nationwide chief economist, Robert Gardner, likened current mortgage rates to annual wage ratios to those [...]
BP joins profits bonanza with £7.1bn earnings despite £2bn overall losses November 1, 2022 BP revealed losses of £1.9bn for the third quarter of trading this year, but massive underlying profits of £7.1bn for the three month window.
Local cabbie prices could spiral following Uber lawsuit over VAT November 1, 2022 Taxi firms could be forced to up their prices by a fifth as Uber calls for cabbies across the country to pay VAT on their journeys. A High Court hearing is expected to be handed down this week after the ride-hailing giant sued Sefton Council about VAT terms operating outside of London. Since the 1970s, [...]
Starmer says Tories are ‘dragging feet’ in making platforms pay for news November 1, 2022 Sir Keir Starmer has backed calls to make social media platforms pay for news content, accusing the government of dragging its feet on the matter. Writing for campaign group Journalism Matters, the leader of the opposition said that big tech’s dominance of the online advertising space is to the detriment of consumers, other rivals and [...]
City Moves: Who’s switching jobs in the Square Mile? November 1, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Kroll Risk and financial advisory firm Kroll has bolstered its London-based governance and risk advisory practice with a new president. Giles Derry, who brings more than 17 years of experience in private equity investment to the firm, [...]
Retailers gear up to win battle for Christmas online shopping rush November 1, 2022 Retail giants are battling to entice cash-strapped consumers with a slew of online discounts and sales this year. Spending is expected to slip by up to half on Black Friday this year, against a backdrop of a cost of living crisis, Wunderman Thompson research has forecast. Online retailers are set to benefit from the crunch, [...]
Ruling the waves is the only defence strategy that will protect our interests November 1, 2022 One of the consequences of Russia’s intensified aggression towards Ukraine has been growing concern about whether Britain’s investment in the armed forces is sufficient to meet the threats of the future – or even of today. After all, despite a welcome uptick in outlay of some £16.5bn in November 2020, British defence investment remains at [...]
Government weighs up proposals to expand windfall taxes November 1, 2022 Windfall taxes on energy firms could be raised and extended as much as three years. as Downing Street scrambles to raise funds.
Welcome the rise of retail investors: with more market knowledge, they’re well poised for growth November 1, 2022 As bond prices tumbled in September, retail investors in the UK spotted an opportunity. They made the most of the sharp drop in prices and bought up four times as many bonds as the year before, increasing their exposure to the asset class and diversifying their portfolios. Though it might surprise people who associate do-it-yourself [...]
How London could become a 15-minute city, without leaving its centre behind November 1, 2022 It was 2020, and Anne Hidalgo, the mayor of Paris, was launching her re-election campaign. Paris was “capable of inventing a new history without forgetting its past”, she said back then, while introducing the concept of the “15-minute city”. Fast forward two years, and Hidalgo is still the mayor of an increasingly green, accessible Paris. [...]
