How a BBC Radio 1 DJ helped alcohol-free brand Lucky Saint open its first London pub January 30, 2023 Alcohol-free beer brand Lucky Saint is to open its first pub after securing £10m to supercharge its ambitious growth plans. The pub, which will also operate as the group’s headquarters, is due to open in Marylebone in March 2023. Luke Boase, founder of the business, said that for now the opening will be “the only [...]
The mortgage ‘moron premium’ and why home loans may get (slightly) cheaper despite an expected hike in interest rates January 28, 2023 The Bank of England is expected to increase interest rates next month, making borrowing more expensive for both businesses and individuals. Although the rate decides how much businesses and individuals pay to borrow money, mortgage experts believe that the cost of home loans may actually come down, because the derivatives used by mortgage lenders have [...]
A Russian billionaire, the Dyson family, Gym Shark founder and Sting are among 100 of the richest Brits who paid nearly £5.2bn in tax during 2022 January 27, 2023 A Moscow-born billionaire is the UK’s top tax payer, paying more than £487m in just 12 months, according to the Sunday Times’ annual tax list. Alex Gerko, boosted the Treasury’s coffers by more than £1.3m a day or £55,639 an hour during 2023. Gerko, who became a British citizen and renounced his Russian citizenship late last [...]
US economy races ahead of UK despite Federal Reserve crushing Americans with rate hikes January 26, 2023 The US economy is growing much faster than expected despite the Federal Reserve piling pressure on Americans with aggressive interest rate hikes to tame inflation, official figures out today show. Stateside gross domestic product (GDP) climbed 2.9 per cent over the three months to December, better than the 2.6 per cent growth pencilled in by [...]
Beauty and the beat: Hipgnosis spends £163m to buy Justin Bieber’s hits January 24, 2023 Hipgnosis Song Management has bought the back catalogue of Canadian superstar artist and songwriter Justin Bieber in a deal reported to be worth $200m (£163m). Bieber’s songs have been streamed over 32 billion times on Spotify, where he has 82 million monthly listeners. Hipgnosis said today it had acquired Justin Bieber’s 100 per cent interest [...]
Borrowers warned of rise in ‘advance fees’ scams with over £700 lost on average and Londoners more likely to fall victim – Lloyds Bank January 24, 2023 The rising cost of living has lead to 82 per cent increase in financial scams that target victims by charging fees for products and services that do not materialise, according to Lloyds bank. Victims lost £711 on average, and although the amount lost is lower than £1,194 recorded the previous year, the bank said fraudsters [...]
Ofcom investigating BT for failure to provide customers with ‘clear and simple’ contracts January 23, 2023 The telecoms regulator Ofcom has opened an investigation into BT over its compliance with an obligation to provide customers with clear and simple contract information before they sign up to a new deal, the regulator has announced. Telecoms providers have been required to give customers contract information and a short – usually one-page – summary [...]
How to get a foot on the property ladder in London – and you don’t need to skip avocado on toast if you don’t want to January 21, 2023 Buying your first home is a dwindling dream for many young Londoners; a dream not helped by commentators who blame millenial’s spending habits for their inability to put together a deposit o five per cent or more of the property’s value. A Netflix subscription or an ‘overconsumption’ of avocado on toast, or even the odd [...]
Self assessment: It’s that time of the year (again), but filling in your tax return is nothing to be scared of January 20, 2023 The self-assessment tax return deadline is almost here, and many people have yet to file theirs, so City A.M has asked Jenny Holt, managing director of customer savings and investments at Standard Life, for some advice. First things first though, the deadline for filing self-assessment tax returns is 31 January, with returns needing to be [...]
House price sentiment at its weakest in 13 years, as fears of recession blight market January 19, 2023 House prices continued to fall towards the end of 2022, according to the Royal Institution of Chartered Surveyors (Rics). The Rics house price balance fell to -42 in December compared to -26 in November, and meant that 42 per cent of surveyors who took part in the survey noted a fall rather than a rise [...]
