RBS and Lloyds shares tumble after Deutsche downgrade September 5, 2016 Shares in banks RBS and Lloyds tumbled to the bottom of Britain's blue-chip index today following a downgrade by analysts over at Deutsche Bank. RBS slumped 2.99 per cent to 198.30p per share in mid-afternoon trading, while its peer Lloyds fell 1.92 per cent to 59.79p. Read more: Standard and Poor's attacks negative interest rates as desperate and damaging [...]
Berkeley and housing stocks risk being evicted from FTSE 100 index August 31, 2016 Housebuilder Berkeley Group could be booted from the FTSE 100 today after a near 30 per cent slump in its share price so far this year. Building materials company Travis Perkins is also teetering on the edge of the blue-chip index with shares now down about 12.5 per cent since the UK voted to quit the [...]
Now the Bank of Mum and Dad will consider lending to other people’s children August 30, 2016 If millennials are not able to access the so-called Bank of Mum and Dad, they might find solace in the Bank of Other People’s Mums and Dads. Over a quarter (27 per cent) of parents and grandparents in the UK would consider funding other people’s children in their home ownership ambitions – in exchange for a [...]
Markets poised for crunch interest rate move from Bank of England August 4, 2016 Markets are standing by this morning for the Bank of England to take interest rates to a record low later today – and the nerves are showing. Sterling is falling ahead of the announcement and the FTSE 100 has also eased back as traders assess just how much fuel the Bank of England will throw onto the [...]
Mortgage approvals in the UK fell to a year low in June July 29, 2016 Mortgage approvals in the UK fell to their lowest point since May 2015 in the period leading up to the country's referendum on EU membership. According to the Bank of England, 64,766 mortgages were approved in June – down from the 66,722 approved in May. Read more: Everything you need to know about the UK's housing [...]
Here’s how far house prices fell after the Brexit vote, according to the first data on property values since the referendum July 18, 2016 House prices fell by 0.9 per cent this month, equivalent to £2,647, according the first data showing how property prices have been impacted by the Brexit vote. Rightmove's report on the value of homes coming to market also found enquiries in the two weeks after the referendum were down by as much as 16 per cent compared to the same period [...]
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 [...]