Mark Kleinman: Vodafone’s CEO call, audit watchdog delays and a wave of insolvencies May 4, 2023 It's the column that gets the Square Mile talking, from the man who talks to everybody - Sky News' Mark Kleinman
London house prices: First-time buyers need household income of nearly £100k to buy May 3, 2023 Londoners’ desire to get on the property ladder has helped fuel the housing market in the capital, despite households now needing an extra £12k in income to be able to afford their own place. Figures released by Zoopla, show that in April house price growth in London rose by 0.5 per cent, as demand and [...]
Explainer: Rishi Sunak eyes a revival of Help to Buy May 2, 2023 Just over a month ago, we were reporting the phasing out of Help to Buy, which was closed to new entrants last year. Now, Rishi Sunak is considering relaunching the policy. Talking of u-turns. The scheme was introduced in 2013 by George Osborne to help first-time buyers get onto the housing ladder. It offered lower [...]
House prices rise for the first time in seven months but analysts still expect a rough ride May 2, 2023 The housing market showed “tentative” signs of recovery in April as the price of homes rose 0.5 per cent during the month, however prices remain four per cent below their August 2022 peak. The Nationwide house price index showed that the annual rate of house price growth improved to -2.7 per cent from -3.1 per [...]
Recession knife-edge: Consumer spending on credit at £1.3bn as house prices continue to slide May 2, 2023 Britain’s better than expected economic performance since the turn of the year is poised to have lured consumers into splashing the cash on their credit cards, new numbers out this week are tipped to show. Families are tipped by markets to have borrowed £1.3bn in March, which would signal spending in the UK is holding [...]
Co-op Bank buoyed by interest rate rises as takeover speculation continues April 28, 2023 The Co-operative Bank has reported a jump in income as the latest lender to be boosted by higher interest rates which have pushed up the cost of borrowing. The company said its net interest income – the difference between what a bank charges for loans and pays for savings – surged by a fifth to [...]
Property: Has spring sprung? Mini budget ripple blamed for keeping a lid on monthly sales April 28, 2023 UK residential transactions in March 2023 totalled 89,560 which was 19 per cent lower than the same month a year ago but 1 per cent higher than February 2023, according to HMRC. The seasonally adjusted figures also show the total of non-residential property purchases, including commercial and factory property was 10,640, three per cent higher than [...]
The success of LVMH is a testament to the resilience of the super rich April 28, 2023 There is a deeper trend behind LVMH’s growth over the past decade and more: the resilience of high-end consumers to almost any setback.
Taylor Wimpey axed 450 jobs as construction giant sounds housing market warning April 27, 2023 Up to 450 jobs have been cut as home construction firm Taylor Wimpey as it looks to deliver £19m in cost savings. Ahead of its AGM today, the London-listed firm said spring had helped in year to date sales, while severe challenges remained for first time buyers still. In a trading update, it said a [...]
Manchester United sale: Will bidders call the Glazers’ bluff? April 25, 2023 Five months after Manchester United’s owners, the Glazers, fired the starting pistol on a potential sale, bidding is finally expected to draw to a close on Friday. The Glazers’ bankers, the Raine Group, surprised some earlier this month by extending the process to a third round of offers for the 20-time English champions. It has [...]