Property’s mixed prospects in 2011 January 26, 2011 PROPERTY price indices suggest house prices are falling again, but what are the prospects for home owners and property investors? UK house prices fell 0.9 per cent in the final three months of 2010 and were down 1.3 per cent between November and December, the Halifax index shows. Some analysts expect them to fall further, [...]
Splits widen on banking reform January 23, 2011 SPLITS emerged over the direction of UK banking reform yesterday, as deputy leader of the coalition Nick Clegg expressed support for a break-up of British banks even as his own government’s Independent Commission on Banking (ICB) came out against a radical break-up plan. The divisions throw into doubt the implementation of the ICB’s recommendations, which [...]
What the other papers say this morning January 23, 2011 FINANCIAL TIMES AUDITORS SEEK TO EASE FEARS The four biggest auditors have denied that their dominance of the market for large companies had created a systemic risk akin to that posed by the leading banks. Deloitte, Ernst & Young, KPMG and PwC have told the European Commission that they are willing to help draw up [...]
CITY VIEWS: DOES LONDON NEED MORE AIRPORT CAPACITY? January 18, 2011 PAUL KNIGHT | LLOYDS “No, I would be against any expansion in the City. It’s already congested in the City and it’s not too much hassle to get to Heathrow. The links there are reasonably efficient as it is.” ANDREW MACEWAN | LORIEN “More capacity would be good. I flew down this morning from Edinburgh to [...]
History, elegance and luxurious style overlooking Regent’s Park January 6, 2011 IF – as Kirtsy and Phil are always telling us – the three most important things in a property are location, location and location, then there can be few better than Cornwall Terrace, overlooking Regent’s Park. It’s a short chauffeur-driven hop from the Ritz, the Houses of Parliament and Harley Street. This Grade I-listed crescent [...]
the bullish argument for the euro December 21, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT AS WE approach 2011, no currency is less liked than the euro. Only yesterday, the euro was at all-time lows against the Swiss franc with the pair sliding towards the SFr1.2500 level. It appears as though all of Europe is trying to exchange the single currency in favour of the [...]
CABLE TO BANKS: I WON’T BE BULLIED December 19, 2010 BUSINESS secretary Vince Cable is on the warpath over bankers’ bonuses, announcing yesterday that he doesn’t care if tougher rules cause an exodus of financial firms from the UK. “We’re not going to be bullied,” he said, in relation to companies’ threats to leave the country due to an inability to recruit top talent. He [...]
FSA pay code throws firms into confusion December 19, 2010 FIRMS are scrambling to comply with a raft of new regulations on bonuses after the Financial Services Authority gave some just eight days to adjust to a revised remuneration code brought out on Friday. The FSA was responding to a finalised set of rules published by the Committee of European Banking Supervisors (CEBS) on 10 [...]
ALSO OUT THIS WEEKEND December 16, 2010 FILM BURLESQUE Christina Aquilera makes her film debut in this excerable drama, co-starring Cher. ANIMALS UNITED Safari-centric kids animation, with James Corden and Stephen Fry among the voices.. LOOSE CANNONS A beautifully-made Italian comedy all about – what else? – the family. DVD THE EXPENDABLES Sly Stallone and a bunch of other past-it duffers – [...]
£53,000,000,000: how much the City paid in tax last year December 15, 2010 THE City paid a staggering £53.4bn in tax last year – more than a tenth of total government tax receipts. The report carried out by PwC for the Corporation of London shows tax paid by the UK’s financial services industry is ahead of any other sector. Business leaders and industry figures lauded the City for [...]