Osborne to hike tax allowances March 22, 2011 GEORGE Osborne will today unveil small tax cuts, help for first-time buyers and a series of symbolic measures to show he is tough on the rich. But his Budget could be overshadowed by spiralling inflation and weaker public finances, preventing him from pulling any rabbits out of his hat. The chancellor will announce that he [...]
Rising deficit hits Osborne’s budget plans March 22, 2011 GOVERNMENT borrowing reached £11.8bn in February — a record high for this time of year – according to official figures released yesterday. Net borrowing, excluding interventions in the financial sector, was considerably higher than in February 2010, when the government recorded a £9.45bn monthly deficit. The figures cast doubt over the amount of leeway chancellor [...]
CITY VIEWS: WHAT SHOULD BE IN THE BUDGET? March 22, 2011 PHILIP RADLEY | GUARANTEES AND BONDS “Well, for a start, we really need to cut government spending. Hopefully the budget will be less than disastrous, because at the moment taxes are up, petrol is increasing, and with inflation it seems that the price of everything is rising.” MATT BYNORTH | COOPER GAY “As a potential [...]
HOW TO KEEP YOUR TRADES IN HARMONY March 22, 2011 CONSULTING ANALYST, INTERTRADER THE definition of harmony is a pleasing combination of elements in a whole. My mentor Bryce Gilmore taught me harmony in the markets. There was no course book, and no papers to read. It was night after night going over the day’s charts, pointing out the harmony in the day’s price action. [...]
The beefed up new Merc SLK March 22, 2011 Despite selling well, the Mercedes-Benz SLK has been seen as a bit fluffy, a lesser animal when compared to some of its roadster rivals. This hasn’t been helped by the fact that most buyers of the car have been female, something that has switched some less- evolved men off. Now Mercedes-Benz is making a considered [...]
US markets end up as Japan fears ease March 21, 2011 BUYERS emerged in US stocks yesterday, enticed by the biggest proposed merger of the year, though crises in Japan, the Middle East and North Africa meant market volatility would continue. The bulls have held the upper hand for three days, as the S&P 500 has put together its best three-day run since early December. The [...]
Middle East buyers to lift office gloom March 16, 2011 OFFICE investment in London fell markedly in the first three months of the year, though higher oil prices are expected to drive more sovereign wealth funds into real estate in the capital, according to Knight Frank research seen by City A.M. Office properties worth £1.6bn are due to change hands in the three months to [...]
Bovis doubles profit on land grab policy March 14, 2011 HOUSEBUILDER Bovis Homes yesterday said its 2010 profit more than doubled and that it had made an encouraging start to 2011. Bovis reported a pre-tax profit last year of £18.5m, compared with £7.5m the year before. The company had been expected to post a profit of £18.54m, according to a poll of analysts. Chief executive [...]
Mortgage lending falls in January March 11, 2011 UK mortgage lending fell 29 per cent in January from December’s level, new data has shown. Just 28,500 loans were extended to property buyers, a fall of 12 per cent on January 2010, a report from the Council of Mortgage Lenders found. The fall is being attributed to “an unusual combination of factors” including public [...]
Hammering away at the property auction myths March 10, 2011 WITH repossessions on the rise, property auctions are a topic on everybody’s lips. While you might not be interested in a flat in Ireland, the increasing supply of homes under the hammer has certainly sparked the British public’s interest in the market. Charles Lucas, an auction expert at Chesterton & Humberts, says there are more [...]