London property market drags down UK house prices June 19, 2019 UK house prices were dragged down by subdued demand in London last month, as buyer caution continued to linger in the capital during April. London witnessed the lowest annual growth out of any region, with prices falling by 1.2 per cent over the year to April 2019, up from a fall of 2.5 per cent [...]
City Moves for 13 June – Who’s switching jobs? June 12, 2019 Today’s City Moves includes Firstport, Deloitte and EY. Firstport Residential property management company Firstport has appointed Heather Payne as chief technology officer. She will be responsible for Firstport’s digital transformation programme. Heather has spent her whole career successfully delivering digital transformation across multiple sectors. She was previously chief technology officer at Avon Cosmetics responsible for [...]
Why enterprises are making the switch to public blockchains June 12, 2019 Online stock trading and electronic marketplaces shook Wall Street’s dominance up in the nineties. Two decades later, blockchain technology threatens to do the same through its removal of third party intermediaries. A couple of years ago when ‘blockchain’ started to turn heads, the idea of a completely public, free-for-all system secured by cryptoeconomics (proof of [...]
Crossrail contractors could ask for more money to meet opening deadline, EY warns June 10, 2019 Crossrail’s contractors are likely to demand more money if they are rushed towards the new 2019/2020 opening date, auditor EY has warned. The big four auditor has warned Transport for London (TfL) that such an outcome could increase pressure on the transport body, which is already battling the costs of the Crossrail delay. Read more: [...]
Pound falls as UK economy shrinks by 0.4 per cent in April June 10, 2019 The UK economy contracted by 0.4 per cent in April as car plant shutdowns due to Brexit and the unwinding of stockpiling dented output, official figures have revealed. Read more: Brexit helps manufacturing fall to 34-month low Sterling fell below $1.27 as traders digested the worse-than-expected news. It had fallen 0.4 per cent to buy [...]
British public’s inflation expectations hit 10-year high June 7, 2019 The British public’s expectations for inflation over the next five years has risen to the highest level in more than a decade. The Bank of England’s quarterly survey showed that the public’s average inflation expectations in five years has risen to 3.8 per cent, compared to 3.4 per cent in February. But short-term expectations over [...]
Ferrexpo shares increase on earnings expections rise June 7, 2019 Shares in oil and gas giant Ferrexpo jumped eight per cent this morning after the miner announced that earnings are expected to rise. Ferrexpo said group earnings before interest, tax, depreciation and amortization would “increase materially” compared with the first half of 2018. Read more: Oil dips to four month low as US inventories soar [...]
UK house prices grow at fastest rate for two years despite uncertainty June 7, 2019 UK house prices grew at their fastest rate for two years in May with an increase of 5.2 per cent year on year, according to new data released today. The value of the average UK home rose by 0.5 per cent from April to £237,837 last month, the Halifax House Price Index revealed, increasing by [...]
CMA head Lord Tyrie warns Big Four that appetite for audit reform is ‘very strong’ June 5, 2019 The chair of the Competition and Markets Authority Lord Tyrie today warned the Big Four that the appetite for reform of the audit market is “very strong” in government and parliament. “I think the market needs to realise, if they don’t already, that the appetite for whatever is required to address this is very strong, [...]
Mortgage approvals rebound after delay on Brexit deadline May 31, 2019 Mortgage approvals for house purchases hit a three-month high in April, rebounding after Britain's March deadline for Brexit was postponed. The number of residential mortgages approved in April ticked up to roughly 66,300, nearing a two-year average and bouncing back from a fall in March, according to new data released this morning by the Bank [...]