UK house prices slow to three-year low as cost of living crisis drags down London and South East property market February 7, 2023 In London, house prices fell from £541k to £530k iin January, with annual house price inflation flat at 0.0 per cent compared to 2.9 per cent in December.
Retail experts warn of ‘challenging’ months ahead as sales growth slows February 7, 2023 Senior retail figures have warned that the coming months will be “challenging” for the sector, after sales slowed over January, falling below the three-month average growth of 5.2 per cent to 4.2 per cent Helen Dickinson OBE, chief executive at British Retail Consortium (BRC), said consumer confidence remains “stubbornly low” and looming rises in household [...]
Sadiq Khan warns rebel boroughs against challenging ULEZ expansion February 6, 2023 Sadiq Khan has warned a number of rebel boroughs against challenging the London-wide expansion of the Ultra Low Emission Zone, or ULEZ, saying their case was “wholly without merit and misconceived.” Four Conservative boroughs sent a pre-action letter to Transport for London (TfL) on 13 January, challenging Khan’s decision to expand the ULEZ to Greater [...]
The Notebook: Victoria Scholar on tech stocks, strikes and cheap cars February 6, 2023 Falling out of love with Big Tech US technology giants have been reporting their latest financial earnings in recent weeks with a mix of the good, the bad, and the ugly. Until the turn of 2021/22, Big Tech was a firm favourite among investors, scoring impressive share price gains in the years building up to [...]
Energy crisis: Can someone shine a light on the Bulb takeover deal? February 6, 2023 Octopus' takeover deal for Bulb is set to cost the taxpayer much less than originally feared, but the deal remains shrouded in secrecy.
Explainer: British Gas and other energy firms under the spotlight for prepayment meters February 3, 2023 This measure is considered a “last resort”, but it was found to be used routinely. Arvato, the contractor used by British Gas, incentivised its debt collectors to force-fit the meters through bonuses. Energy companies apply to magistrates’ courts to get the warrants they need to force entry into homes. The number of these warrants rose [...]
Train strikes today: How will lines servicing London be affected by Friday’s walk-outs – and is there any end in sight? February 3, 2023 Britain’s train services are being hit by strike action again on Friday, but the capital will remain largely unaffected – as long as you don’t have to commute in or out of London. Who is striking and why? Train driver members of Aslef and the Rail, Maritime and Transport (RMT) unions are walking out in [...]
Forget the IMF, the Bank of England are the real doomsters in this UK recession merry-go-round February 2, 2023 This week the International Monetary Fund (IMF) became public enemy number one for saying the UK will be the only rich economy to suffer a contraction in 2023. Even Russia, hobbled by sanctions to punish it for its invasion of Ukraine, is poised to squeeze out more growth than Britain this year, the lender of [...]
Bank of England signals inflation has peaked but warns of 15-month long recession February 2, 2023 Inflation in the UK has peaked and is on course to fall rapidly over the coming year, easing the worst cost of living crisis in a generation, but a slow burning, mild recession is still a threat, the Bank of England said today. The rate of price increases is poised to more than halve from [...]
Chris Woolard on BNPL, regulatory run-ins and getting financial rulemaking right February 2, 2023 The regulatory veteran wants a rulebook for the 21st century, but getting it right might trump speed, Charlie Conchie writes. Urgent. That was the word used by the former-interim chief of the City watchdog Chris Woolard when he gave his verdict on regulation of buy-now pay-later services in a landmark review two years ago today. [...]