Swelling house prices continue into February March 6, 2014 UK HOUSE prices surged in February according to a major index of prices, jumping 2.4 per cent in the month alone, and up 7.9 per cent from February last year. The monthly change is the fastest that Halifax has recorded since the first half of 2009, and February saw the 11th month-on-month increase in the [...]
What the other papers say this morning – 28 February 2014 February 27, 2014 FINANCIAL TIMES Investors disappointed in AO float Hundreds of institutions that tried to buy into the float of online retailer AO World have been left disappointed, after 85 per cent of the new issue was awarded to just 15 investors. One-third of the 300 institutions that applied for shares in the float received no allocation [...]
Mortgage boom grows as house prices keep soaring February 20, 2014 BRITAIN’S housing boom grew again in January as mortgage lending hit new post-crisis highs, the Council of Mortgage Lenders reported. The boom in lending came along side soaring prices – in London the average house cost £450,000 in December, up 12.3 per cent on the year. The intense pressure in the market could lead the [...]
What you need to know before the open February 20, 2014 Europe is expected to open lower this morning, after disappointing Chinese manufacturing data and yesterday’s release of the latest Federal Open Market Committee minutes. The minutes showed a further taper of $10bn is likely in March. The Chinese HSBC purchasing managers’ index has come in at 48.3, considerably below expectations of 49.4. Corporate news Centrica [...]
A mansion tax would be equivalent to feasting on our economy’s seed corn February 18, 2014 THE CHANCELLOR has a problem. People do not much like paying taxes, yet there is rising demand for welfare and state services, and politicians fear taking the tough decisions needed to reallocate spending. Into this unenviable situation steps the worst of all possible solutions: the wealth tax. The total UK tax take has been remarkably [...]
UK inflation falls to 1.9pc in January February 18, 2014 UK inflation figures have shown further signs of improvement in the recovery, falling below the Bank of England’s inflation target for the first time since November 2009. Measured by the consumer price index (CPI), prices rose by 1.9 per cent in January, below the two per cent expected. Month-on-month, CPI dropped 0.6 per cent. According [...]
House building spending to hit record in 2017 February 9, 2014 INVESTMENT in housing will surpass its pre-crisis peak in 2017, according to a new forecast out today from EY’s Item Club. Spending on building and maintaining houses will rise by 6.8 per cent this year and 10.1 per cent next year, eventually beating the 2006’s £68bn record in 2017. Such a strong increase may be [...]
Deflation can be good or bad but the Eurozone isn’t facing the bad sort yet February 6, 2014 AT THE European Central Bank (ECB) press conference yesterday, Mario Draghi was asked whether the Eurozone is tipping into deflation and whether the ECB has the tools needed to respond if it does. “Deflation” has become a bogeyman, the thing economists normally agree to fear most. But is that right? That deflation might be a [...]
Inflation since 2008 crash has hit low-paid hardest January 30, 2014 THE SQUEEZE on UK pay has meant much bigger wage cuts for high earners, but new figures now reveal that above-target inflation has hit households on low incomes most severely of all. On average, the highest incomes tracked by the Institute for Fiscal Studies (IFS) have dropped by over eight per cent in real terms since 2007-8. [...]
Wall St The Week Ahead: Apple, Google and Facebook earnings due January 26, 2014 US stocks could be set for another selloff this week as the Federal Reserve is expected to announce it will keep withdrawing its economic stimulus, further pressuring equities already roiled by a flight from emerging markets. Investor sentiment turned strongly bearish last week as emerging markets were hit by both country-specific problems and the realisation [...]