At the open: Relief in the City as stock markets stage mini-recovery June 28, 2016 Stock markets recorded their first gain since the UK voted to leave the European Union – jumping in the first few minutes of trading this morning and, crucially, holding on throughout the day. After two days of deep falls and mass trading suspensions, the bluechip FTSE 100 was up 2.5 per cent by lunchtime at 6,131. [...]
UK bond yields fall to a new record low, despite looming debt downgrades June 27, 2016 Borrowing costs for the UK government have dropped to their lowest on record as investors flock to the safe haven of government debt in the midst of Brexit uncertainty. Yields on the benchmark 10-year Treasury bonds plunged to 0.94 per cent, down an unprecedented 0.14 percentage points – or 14 basis points – since yesterday. It is [...]
Focus On Harrow: Why this north west London suburb is popular with families and first time buyers June 24, 2016 The north west London suburb of Harrow is all too often synonymous with the prestigious boys’ boarding school with which it shares its name. Certainly, the school has influenced the growth of central Harrow through the centuries; following a big expansion of the school in the 19th century, housing was built for its staff resulting [...]
What Brexit means for UK M&A: Experts expect further drop in activity June 24, 2016 Deal activity in the UK is expected to fall further in the second half of 2016 following the Brexit vote. Mergers and acquisitions (M&A) activity has already slowed this year following a record 2015. Data released yesterday from MergerMarket and Dealogic showed that UK-targeted activity slowed in the first half of the year, and more [...]
Sadiq Khan slams Boris Johnson’s “toothless” Concordat housing scheme at Mayor’s Question Time June 22, 2016 Sadiq Khan has slammed former mayor Boris Johnson's flagship housing scheme for failing to stop new London homes being sold as "golden bricks" to overseas investors. Johnson's Concordat scheme, which was launched in 2014, was pitched as the solution to stopping major developers advertising London homes abroad first for overseas buyers, who had months more [...]
Going for gold: Transactions for bullion soar ahead of Brexit vote June 21, 2016 The flight to safe havens ahead of the EU referendum has led to a surge in transactions for gold bullion as the 23 June approaches. According to the Royal Mint there has been a 32 per cent jump in the number of transactions compared to last month, as sharp volatility on the stock markets and [...]
Sellers are shifting their housing stock in record time despite Brexit worries June 20, 2016 The time it takes to sell a house has hit a record low, as Britain's housing market continues to prove its resilience despite the backdrop of the EU referendum. The uncertainty of the outcome of the vote doesn't seem to have deterred buyers; property website Rightmove said today sellers only have to wait an average of [...]
The new housing crisis is upon us – and it’s those who already own property that should be worried June 18, 2016 We hear an awful lot about the "housing crisis" in the UK and – particularly – in the capital. At one end of the ladder, rents are rising faster than wages and house prices are going up quicker than people can save for a deposit. At the other, new taxes and regulations on second homes [...]
Oil rises for the first time in seven days as the US dollar weakens June 17, 2016 Oil snapped its biggest weekly drop in more than two months today, helped by foreign exchange rate movements. The greenback slumped 0.2 per cent to $94.407 against a basket of currencies, making the dollar-priced commodity more attractive to foreign buyers, and helping crude shrug off a sharp drop in the previous six sessions. Read more: IEA says global [...]
EU referendum: Big bets for “In” backers as two gamblers put five-figure sums on Remain with one week to go June 16, 2016 Brexiteers Nigel Farage and John Longworth might like to think they're heavy betters after placing modest sums on Britain voting to leave the EU on 23 June, but high-rolling Remainers are putting them to shame. Bookies at Ladbrokes were stunned to see a first-time better stroll into the firm's Marble Arch branch and put £35,000 — in cash — on a vote [...]