Expectations of BoE rate cut rise after UK inflation falls to three-year low January 15, 2020 Sterling fell on Wednesday after data showed UK inflation unexpectedly slipped to a three-year low during December, ramping up expectations that the Bank of England (BoE) will cut interest rates later this month. The consumer price index (CPI) rose 1.3 per cent last month compared to a year earlier — the weakest level since November [...]
Bovis Homes to beat expectations with record profit for 2019 January 15, 2020 Vistry Group has reported that Bovis Homes is set to beat market expectations to deliver record profit despite political uncertainty putting pressure on prices last year. The housebuilder said this morning that it expects its Bovis operation to report pre-exceptional profit before tax for 2019 to be above an analyst consensus of £181.6m. Read more: [...]
Nigel Farage’s Westminster Brexit bash granted planning approval January 15, 2020 Nigel Farage has been granted permission to throw a Brexit day party at Wesminster’s Parliament Square. The Brexit bash is set for 31 January to coincide with the date Britain leaves the EU, and is expected to cost £100,000 and attract 10,000 people. Read more: Planning uncertainty over Nigel Farage Brexit night party Farage tweeted [...]
New mortgages fall in November after 2018 surge January 15, 2020 The number of first time buyer mortgages dropped in November last year, following a surge in house purchase activity in 2018. There were 30,620 new first-time buyer mortgages completed in November 2019, a decline of 10.5 per cent compared to the same month the previous year. Read more: First time buyer mortgages hit 12-year high [...]
DEBATE: Is a new ‘Trump deal’ the answer to the Iran nuclear problem? January 15, 2020 Is a new “Trump deal” the answer to the Iran nuclear problem? YES, says Ben Kelly, a commentator for Reaction. Does anyone genuinely believe that Donald Trump’s objection to the Iran nuclear deal was based on detailed analysis of its contents? No. Trump rejected it as part of his obsession with dismantling Barack Obama’s legacy. [...]
The number of floats in London dropped to a decade-low last year January 15, 2020 Geopolitical uncertainty contributed to a subdued initial public offering (IPO) market in London last year, as listings fell 56 per cent year-on-year. In what was the capital’s quietest year for a decade, just 35 companies floated raising £5.9bn, down from 79 listings raising £9.5bn in 2018. The number of admissions to London’s junior Aim market [...]
Marketing budgets return to growth after General Election boost January 15, 2020 UK marketing budgets returned to growth in the fourth quarter as an easing of political uncertainty encouraged businesses to splash out on campaigns. A net balance of four per cent of firms lifted their total budgets in the last three months of 2019, according to new figures from the Institute of Practitioners in Advertising (IPA). [...]
Nickie Aiken: The country must move forward as one January 14, 2020 At times during last month’s General Election, City A.M. readers could be forgiven for thinking it was taking place in a different country. For much of the campaign the focus was far from London, with frontbenchers and their battle buses taking them through the midlands and the north as Labour and Tories fought it out [...]
Watkin Jones enjoys strong contribution from build-to-rent division January 14, 2020 Housing developer Watkin Jones this morning said profit from its build-to-rent developments more than doubled. The 229-year-old company, which also makes student housing, saw overall profit slip because of exceptional costs. Pre-tax profit fell 8.5 per cent to £49.7m, while revenue grew 3.2 per cent to £374.8m. However, revenue from build-to-rent shot to £73.6m from [...]
UK housing market stable despite political uncertainty, says Taylor Wimpey January 14, 2020 Housebuilding firm Taylor Wimpey said the housing market remained stable last year, despite ongoing economic and political uncertainty. In a trading update this morning the company said that conditions were more challenging in London and the South East but demand for homes remained strong in the face of uncertainty caused by Brexit. Read more: New [...]