Manchester United at Davos: Why has the for-sale Premier League club set up shop at the World Economic Forum? January 16, 2023 Manchester United have insisted that the club’s pop-up venue at Davos is not designed to drum up interest among the world’s super-rich in a possible £8bn sale. United’s owners, the Glazer family, put them on the market in November and bankers are reported to have invited bids for minority or majority stakes by next month. [...]
Ex homeless charity boss spent thousands on luxury travel, high-end London restaurants and Apple watches, commission probe finds January 14, 2023 The former boss of a homelessness charity spent thousands of pounds of its money on luxury travel, meals and watches, an investigation has found Lee Dribben, former chief executive of the Ashley Foundation, also used charity funds to buy a surveillance system, according to an inquiry by the Charity Commission. The regulator said it had [...]
First-time buyers spend 39 per cent of take home pay on a mortgage – Nationwide January 13, 2023 Homes for first-time buyers are at their most expensive as a proportion of take-home pay since the financial crisis. The proportion of monthly income that first-time buyers are having to put towards mortgage repayments is returning to levels last seen in the 2008 financial crisis, according to Nationwide. Nationwide, the UK’s third largest lender has [...]
Persimmon warns of sales slide as interest rate rises push up the cost of mortgages January 12, 2023 Persimmon achieved sales at the top end of its 2022 guidance, despite the mortgage crisis and the wider economic downturn in the second half of the year. The York headquartered company, one of the UK’s largest housebuilders, sold 14,868 new homes last year a rise of two per cent compared to 14,551 in 2021. The [...]
Exclusive: High Street queen Mary Portas says retail’s 2022 race to the bottom is finally over January 12, 2023 City A.M. sits down with the 'Queen of retail', or Madam High Street, retail consultant and broadcaster Mary Portas.
Barratt: Rising mortgage costs could hit its profits as house prices slide January 11, 2023 Barratt Developments said the outlook for 2023 was ‘uncertain’ as rising mortgage costs force residential property sales down. The FTSE 100 listed house builder said demand for its homes in 2023 looks “uncertain” due to prospective home buyers shunning big ticket purchases amid a cost of living and mortgage affordability squeeze. Mortgage costs have been [...]
Why Manchester United sale could fetch the Glazer family even more than their £6bn asking price – despite Cristiano Ronaldo exit January 11, 2023 The Glazer family’s hopes of achieving a record valuation for the sale of Manchester United have increased after the football club’s share price reached a four-year high. Some analysts believe it could push the price of a takeover towards $10bn (£8.2bn), in excess of the American owners’ original $7bn (£5.8bn) asking price. United’s share price [...]
Santander launches buy-now pay-later offering that could be a ‘game changer’ for cash-strapped corporates January 9, 2023 Santander has announced a push into the business-to-business (B2B) buy-now pay-later market today as it looks to tap into demand from a wave of corporate firms grappling with soaring prices.
This year, there’s potential for businesses to find value in times of economic uncertainty January 5, 2023 “Uncertainty is bad for business” is a truism accepted by all economists. But whilst it applies across an entire economic system, it doesn’t need to apply to you in 2023. You can simultaneously agree that the year ahead feels horribly uncertain while also thriving. The Collins English Dictionary recently named “permacrisis” as the “word of [...]
What’s in a year? Hopefully one without a new prime minister or an election January 3, 2023 Without making myself a hostage to fortune, I predict 2023 will be a year without as much political turmoil even as inflation causes havoc.