THE TIPSTER November 24, 2009 THE dollar has been falling across the board, but against the Swiss franc it is now flirting with parity. The pair was seen at these levels in the first quarter of 2008, but the currency never managed to fall below SFr 0.9877, and a sustained break below parity would be moving towards uncharted territory. The [...]
Tories to axe house packs November 23, 2009 THE TORIES have pledged to scrap home information packs (HIPS) within weeks, if they are elected. Shadow housing minister Grant Shapps said yesterday it would be his first move, as the packs are stalling housing market recovery. Estate agents say sellers are put off by the £300 to £400 cost. And with the current shortage [...]
US existing homes sales pace is up 10 per cent to two-year high November 23, 2009 SALES numbers for previously owned homes in the US jumped more than 10 per cent in October to reach the highest rate since February 2007. The National Association of Realtors (NAR) said sales surged 10.1 per cent month-on-month to an annual rate of 6.1m sales, up from 5.54m in September. Analysts said the boom was [...]
Tips for bagging yourself a new-build bargain in a difficult market November 19, 2009 POLLY COLDWELL, DEPUTY EDITOR OF FIRST TIME BUYER MAGAZINE:1) Ensure the property is big enough for your belongings. Check that there is somewhere to put your hoover, etc. Garages have shrunk as well: measure it to make sure your car fits. 2) New builds are rated for their energy, water and waste under the Code [...]
Why bonds are a boon for investors November 18, 2009 FOLLOWING his appointment as the CEO of the London Stock Exchange (LSE) this summer, Xavier Rolet announced plans to open a retail bond market here in the UK. He said: “There is a clear need, particularly in the SME sector, for a lot of companies to be able to tap the bond market, particularly for [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 18, 2009 FINANCIAL TIMES LLOYDS OFFLOADS MALL FOR £300MHammerson, the UK real estate investment trust, has emerged as the preferred buyer of a £300m shopping mall near Glasgow being sold by Lloyds Banking Group after the original owner defaulted on the loan. The UK commercial property market has seen few sales by the larger lending banks, in [...]
Gold soars to another high November 16, 2009 GOLD surged to a new record last night, with gold futures rising to $1,144.20 (£679.50) an ounce in after hours trading. It is just one week since the cost of the precious metal smashed through the $1,100-an-ounce barrier for the first time. The price of gold has now jumped by around 10 per cent in [...]
Jump in US mortgages but demand for new loans falls November 12, 2009 THE NUMBER of US mortgage applications went up last week as lower fixed rates increased the call for refinancing, but demand for new home loans fell to a nine-year low. Average 30-year mortgage rates fell 0.07 percentage point to 4.9 per cent in the week ended November 6, making a new run toward the record [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 11, 2009 FINANCIAL TIMES BLUECREST TO RELOCATE 50 STAFF TO GENEVABlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers. Founded in 2000 by former JPMorgan traders Bill Reeves and Mike Platt, the $15.5bn firm [...]
WHAT THE OTHER PAPER SAY THIS MORNING November 8, 2009 THE SUNDAYSThe Sunday TelegraphBAE HIRES PINOCHET LAWYER FOR SFO FIGHTBAE Systems has instructed General Pinochet’s former QC to handle its defence if the Serious Fraud Office (SFO) is successful in persuading the Attorney General to proceed with a fraud prosecution against the arms manufacturer. GOVERNMENT PLANS FAST-TRACK NUCLEAR EXPANSIONThe government is set to hand an [...]