More than a year after Russia’s invasion of Ukraine some firms still can’t – or won’t – quit Moscow May 25, 2023 Some global companies are still operating in Russia more than a year on from the country’s invasion of Ukraine. Firms were quick to respond to the full-scale war, which broke out last February, with some saying they would quit Russia immediately and others curtailing imports or new investment. Billions of pounds of factories, energy holdings [...]
House prices slow as market braces for a solid but ‘not spectacular’ year May 24, 2023 House prices in the UK rose 4.1 per cent in the 12 months to March, adding £11,000 to the average value of a property. However, the figures are down from February’s 5.8 per cent hike and £8,000 below the recent housing peak in November 2022, data from the Office for National Statistics (ONS) reports. Across [...]
Shack up or ship out – why London’s rental market is no place for singles May 23, 2023 London’s notoriously cut-throat rental market has long lured couples into cohabitation in desperate efforts to save costs as opposed to it being the next natural step in the relationship. However, over the past 12 months a cocktail of shrinking supply and rising rents has made trying to find a home or even a room in [...]
To win younger voters, Labour needs to weed out the anti-housing nimbys May 16, 2023 Labour wants to portray itself as the party of housing. But to succeed, Keir Starmer will have to manage nymbies on his backbenches, showing he's serious about building new homes, writes Elena Siniscalco
Burberry hopes to be back in fashion thanks to China reopening May 15, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Burberry: Luxury British brand’s investors hopeful of China spending resurgence May 12, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Supertool: S4’s Sorrell says AI ‘more effective than a 25-year-old media buyer’ May 11, 2023 S4’s chairman Sir Martin Sorrell is optimistic about the future of AI as his advertising agency embraces it to supercharge their productivity and reach. Sorrell said S4 had already seen an increase in viewing metrics because AI was helping employees speed up ad copywriting and aggregate data that makes it easier to hyper-personalise and target [...]
Used car market accelerates as consumers opt for cheap vehicles amid rising bills May 10, 2023 The UK’s used car market saw its biggest quarter of growth since 2020 today, as consumers opt for cheap motors amid higher bills and the sector benefits from the knock-on effects of the semi-conductor shortage ease. The figures, published by the Society of Motor Manufacturers and Traders (SMMT), showed that the UK market for second-hand [...]
FTSE 100 close: Barclays and NatWest rise on London index as stalling house prices knock builders May 9, 2023 London’s FTSE 100 kick started a fresh week down today, with Britain’s biggest home builders sliding after new figures showed house price growth has stalled. The capital’s premier index nudged 0.18 per cent lower to 7,764.10 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Mortgages: Are 100 per cent no deposit loans about to make a comeback? May 9, 2023 One of the UK’s largest building societies is considering launching a no deposit, or 100 per cent loan to value mortgage. Mortgages which do not need a downpayment, or deposit, were phased out after the financial crisis. Although 100 per cent or zero deposit mortgages have been available since 2009, lenders will only offer them [...]