Why an energy price freeze may short change consumers April 2, 2014 The government’s majority against Labour’s energy price freeze was reduced to just 27 in a vote in the House of Commons this afternoon. Labour leader Ed Miliband called for the vote last week, demanding that domestic customers and small businesses have their energy bills frozen immediately. They may have lost the vote but the opposition [...]
Raise rates now to avoid crash, urges L&G April 2, 2014 Britain’s economy is at risk of overheating, starting a new boom and bust cycle, Legal and General economist James Carrick warned today. He urged the Bank of England to raise interest rates this year and start reining in the housing market, if it wants to avoid another crash in around three years’ time. Bank governor [...]
Does London need its own housing minister? April 2, 2014 Tory minister Kris Hopkins caused something of a storm on Newsnight yesterday, by appearing relatively blase about the rocketing cost of housing in the UK. “If I I buy a house I expect the value to rise,” said Hopkins, who was equally laid back about the country’s shortage of accommodation. “I don’t want to put [...]
Why Amazon is about to become a first class citizen in the living room April 2, 2014 At 4pm this afternoon Amazon is set to launch its own mystery TV box to finally elevate the retail giant to more than a second class citizen in the video streaming space. During its “update to our video business” Amazon is expected to reveal a way for its users to access Prime Instant Video, formerly [...]
Meet the radical left-wing minister getting a promotion in France April 2, 2014 The new French cabinet provides a step up for Arnaud Montebourg, one of Europe’s most interesting modern politicians. He moves from his position as minister of productive renewal (an industrial position) to become economy minister, taking some of deposed finance chief Pierre Moscovici’s turf. It’s fair to say that Montebourg’s general worldview may not be [...]
Sales of new homes in Canary Wharf soar April 2, 2014 Residential activity in Canary Wharf is booming, according to new figures from property consultants JLL today which show that the business-focussed district enjoyed one of the highest levels of sales of new homes last year. New unit sales have increased from 400 in 2012 to 1,050 in 2013, pushing values up to an average of [...]
Surging construction sector loses some momentum in March April 2, 2014 The UK's construction sector is roaring a little less loudly this month. The latest purchasing managers' index data from Markit shows a sector PMI of 62.5 in March, below last month's 62.6. That's despite economists predicting that we'd see a rise to 63 this month. Nonetheless, that's a spectacular pace of growth in the sector. [...]
How strong does a central bank staffer have to be? April 1, 2014 Ever considered a career in the arena of monetary policy? Those wanting to walk the halls of Threadneedle Street, particularly those tasked with working in the Bank's vaults, may be stronger than you'd expect. This afternoon, a tweet from the Bank of England's official account warned a potential visitor to the newly reopened central bank [...]
New IMI chief paid £590,000 in 2013 – Even though he started in 2014 April 1, 2014 The new chief executive of FTSE 100-quoted engineering firm IMI was paid £590,000 in 2013, despite not taking up the role until the beginning of this year. Mark Selway, who previously headed up construction firm Boral and engineering company Weir, received a base salary of £188,000 and a bonus of £237,000 within the package. “For [...]
How Silicon Roundabout could save finance’s reputation April 1, 2014 The City could be saved by the mobile revolution sweeping finance – not just because new technology cuts costs and improves service, but because the tech sector is cool and some of that great image could rub off on banks. So says insurance boss and bad bank troubleshooter Sue Langley. The City veteran has been [...]
