After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Lenders hand out most mortgages to first-time buyers in nearly 20 years June 3, 2021 Banks and building societies handed out more mortgages to first-time buyers in March than any time since 2002. Across the UK, 42,330 mortgages were issued to first-time buyers in March, marking the highest monthly total since December 2002 when 44,000 were advanced, according to trade association UK Finance. Many people who would have taken their [...]
Services sector expanded at fastest rate in 24 years in May June 3, 2021 The UK’s service industry saw business activity grow at its fastest rate in 24 years last month as the reopening of the country’s economy after the pandemic continued apace. The UK Composite Purchasing Managers’ Index (PMI) for services rose to 62.9 in May, up from 61 in April. Any score above 50 indicates growth. It [...]
Foxtons expect profits to shoot ahead of past two years June 3, 2021 Foxtons confirmed to markets this morning that they expect profits to be “significantly ahead of both 2020 and 2019” after a bumper start to the year. The firm has seen a 49 per cent increase in Q1 sales revenues versus both 2020 and 2019, and the sales commission pipeline is now 65 per cent ahead [...]
Brits borrowed billions in April as housing market boomed June 2, 2021 Mortgage borrowing hit £3.3bn in April as house prices rose at their fastest rate in five years, a trend driven largely by the extension of the stamp duty holiday. April’s mortgage borrowing was significantly lower than March’s £11.5bn figure, however, according to the latest figures from the Bank of England, despite mortgage approvals hitting 86,900, [...]
B&Q owner Kingfisher signs £550m credit deal linked to sustainable targets June 2, 2021 Kingfisher has signed a £550m three-year credit deal that will see it benefit from a lower interest rate on the loan if it delivers specific targets to help tackle climate change. Kingfisher, which also owns Screwfix, has updated its climate change targets to reduce emissions by 2026 in a way that will not contribute to [...]
Wizz Air crashes to €576m annual loss as it waits for Covid recovery June 2, 2021 Wizz Air crashes to €576m annual loss as it waits for Covid recovery
Bank of England Governor Andrew Bailey doubles down on climate plans June 1, 2021 The Bank of England Governor has doubled down on promises to carry out policies to help the UK shift to a net zero economy, but warned it was not regulators’ role to enforce change. Central banks have started to outline plans to help steer the path for economies and financial systems as they transition to [...]
Bank of England carefully monitoring rising house prices, says Cunliffe June 1, 2021 The Bank of England is carefully monitoring the rise in house prices which has been largely fuelled by the extension of the stamp duty holiday. A year ago activity in the housing market collapsed in the wake of the first lockdown with transactions dipping to a record low of 42,000 in April 2020. Since then [...]
MPs urge government to donate half of incoming vaccines to Covax scheme June 1, 2021 MPs and peers have urged the UK to adopt a Covid-19 “vaccine matching” scheme in a letter today, which would see half of the doses the arrive in the UK be donated to the Covax scheme. The letter, coordinated by the All-Party Parliamentary Group (APPG), said that prime minister Boris Johnson has a “moral duty” [...]
Foreign Secretary Dominic Raab to intervene in case over £1.4bn of gold deposited in the Bank of England June 1, 2021 In a case that is set to determine the fate of almost £1.4bn of Venezuelan gold deposited in the Bank of England, UK’s Foreign Secretary Dominic Raab has been granted permission to intervene at the Supreme Court during a hearing scheduled for next month. The case at the highest court in the land is between the [...]