Ebay to sell classified ads unit to Adevinta for nearly $9bn July 20, 2020 Norwegian group Adevinta has won the auction to buy US e-commerce firm Ebay’s classified-ads unit for nearly $9bn, a source familiar with the matter told Reuters today. Ebay intends to keep a minority stake in the business following the close of the deal, the source said. Activist investors Elliott Management and Starboard Value had been pushing Ebay to sell [...]
UK housing market enjoys ‘mini-boom’ as asking prices soar in July, says Rightmove July 20, 2020 Residential property asking prices soared in July as coronavirus lockdown restrictions were lifted, sparking a “mini-boom” in the UK housing market. The average asking price of property coming to market in July was up 2.4 per cent compared to March, before the coronavirus lockdown was announced. The 3.7 per cent annual rate of increase recorded [...]
Fast Ford icon: Rare Sierra RS Cosworth heads to auction July 18, 2020 “A working class hero is something to be,” declared John Lennon. Anyone who grew up idolising the Ford Sierra RS Cosworth would surely agree. With its wide wheelarches and whale tail wing, the ‘Cossie’ looked brilliant on a bedroom wall. And its 204hp turbocharged engine offered Porsche-baiting pace: 0-62mph in 6.5 seconds and a top [...]
McCarthy & Stone swings to a loss as completed projects halve July 15, 2020 McCarthy & Stone posted a £25m loss for the first half of 2020 this morning, and warned of further difficulties as the pandemic continues. The retirement-home builder said coronavirus had dampened housing transactions, affecting the number of sales it was able to complete in the six months to the end of April. McCarthy & Stone [...]
Stamp duty holiday: Estate agent enquiries into homes worth £500,000 soar July 15, 2020 Estate agents have seen a spike in enquiries for homes priced between £400,000 and £500,000 since the government announced a stamp duty holiday for homebuyers. The government last week lifted the threshold for stamp duty from £125,000 to £500,000 in a bid to reignite the housing market after months at a standstill during the coronavirus [...]
Rishi Sunak orders review into UK capital gains tax July 14, 2020 Chancellor Rishi Sunak has commissioned a report into capital gains taxes, which could lead to the government increasing the tax burden to help pay for its coronavirus spending. Sunak has asked the Office of Tax Simplification to conduct the review, with the body launching a survey today asking for “evidence to seek views about capital [...]
German court bans Tesla ads over self-driving claims July 14, 2020 Germany has banned Tesla from repeating what a court says are misleading statements relating to its driver assistance systems and autonomous driving. The case was brought by Germany’s Wettbewerbszentrale, an industry sponsored body tasked with policing anti-competitive practices. Tesla can appeal the Munich court’s ruling. The court agreed with the industry body and banned Tesla [...]
London house prices flatline amid coronavirus uncertainty July 10, 2020 London house prices stayed flat in the second quarter of this year as coronavirus took an uneven toll on the property market across the country, according to new figures. The Halifax house price index on Tuesday showed that UK house prices fell for the fourth month in a row in June. That meant house prices [...]
Rishi Sunak Summer Statement: All the Chancellor’s spending pledges July 8, 2020 Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]
Stamp duty holiday: Housebuilder and estate agent stocks jump July 8, 2020 Housebuilders and estate agent stocks jumped this afternoon after the chancellor announced a stamp duty holiday in a bid to get the UK property market moving. Chancellor Rishi Sunak announced that the stamp duty threshold would increase from £125,000 to £500,000 until March next year to boost activity after the coronavirus lockdown. He said it [...]