Airbnb your house: Here’s how much Londoners could be making from the sharing economy July 13, 2016 The sharing economy is growing faster in Britain than anywhere else in Europe. As it has become more expensive to own cars, homes and even electrical equipment, more of us are seeing the advantages of monetising our idle assets. PwC estimates that transactions on platforms in the five biggest sharing economy sectors almost doubled in [...]
Large Valeant shareholder gives up stake amid mounting losses July 13, 2016 An investor letter has revealed that one of Valeant Pharmaceuticals largest shareholders has ditched its stake in the firm over the last quarter. Mutual fund Sequoia told investors (the letter can be read here) it no longer owned any shares of Valeant, the controversial pharma firm that has grown quickly in recent years through acquisitions and drug price hikes. At [...]
Opinion: A real estate legal specialist explains why using Brexit to get out of a property deal is a very bad idea June 30, 2016 Several days on from the result of the EU Referendum and, inevitably, many are wondering how leaving the EU will affect the London residential property market. First, it’s important to take a step back and look at what was happening before the referendum. The 15 per cent stamp duty and annual taxes for properties worth [...]
Q&A: Should we worry about the UK losing its AAA credit rating? June 28, 2016 The UK suffered the embarrassment of a downgrade to its credit rating from not just one, but two of the leading agencies yesterday. Standard and Poor's (S&P) stripped the UK government of its gold standard triple-A rating, while Fitch also knocked a notch from its rating. Treasury debt is now graded as double-A, the third [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Bond yields in the developed world hit a record low – even the EU referendum won’t stop them falling June 6, 2016 Bond yields across the advanced world have touched a record low. The fall comes as the US looks set to delay its next interest rate hike, the effects of quantitative easing and negative interest rates continue to take hold and political uncertainty mounts. The yield on Bloomberg's global developed sovereign bond index dropped to 0.62 per cent – [...]
Looking for your first home? Find a partner first; nearly two out of three first-time buyers are couples May 31, 2016 If you're looking to buy your first home in the UK, think about looking for love first; new research out today shows most people aren't trying to go it alone in the current housing market. First-time buyers are on the up, but almost two out of three of them are buying as part of a couple, underscoring [...]
School of hard knocks: How to cut the soaring cost of private education May 26, 2016 When it comes to our children, a good education is priceless. But if you’re talking about sending them to a private school, there is a hefty price tag, and it has been rising precipitously. To send a child to a private day school from 2015 to 2028 will set you back an average of £286,000, [...]
Co-operative Bank: Core business posts profit – but group warns there is still hard work ahead May 20, 2016 The Co-operative Bank's core business has posted a profit for the first three months of the year – shrugging off the losses it made last year. The figures It was a bit of a mixed bag, with total core bank net customer loans up from £14.7bn at the end of December to £15.2bn, thanks to growth [...]
Bank of mum and dad facing a funding crisis as children rack up £6,000 in withdrawals May 18, 2016 Parents are dipping into savings, eating up their pay packets and even taking out credit cards to provide assistance to their supposedly financially independent children. Over half of all parents have been tapped up by children over the age of 18 for financial assistance from the “bank of mum and dad”, according to a new [...]