Housebuilder Barratt warns volatility is clouding outlook October 12, 2022 Housebuilder Barratt Developments warned that economic volatility was clouding the picture for the year ahead today but doubled down on profit targets for the remainder of the year.
OBR financial report and government fiscal plan to be delivered on 31 October October 10, 2022 The UK’s spending and borrowing watchdog’s assessment of the government’s tax cutting splurge will be released on 31 October, chancellor Kwasi Kwarteng announced today. In a letter to Tory MP and chair of the treasury select committee, Mel Stride, Kwarteng said he has decided to bring the Office for Budget Responsibility’s (OBR) forecasts forward from [...]
Trust the code, not the confused October 7, 2022 Rufus Round, CEO of GlobalBlock says political systems need to adapt to the crypto and digital assets technology heading their way.
UK house prices level out as Covid boom subsides October 7, 2022 UK house prices have dropped for the second time over the past three months in a sign the surge experienced over the previous year is starting to level out. Average UK house prices dropped by 0.1 per cent in September from August’s record highs of £293,992. The September drop marks the second marginal decrease over [...]
EXCLUSIVE: Starmer sounds alarm on house price ‘shocks’ as mortgage rates rise October 6, 2022 Sir Keir Starmer has warned about potential housing price “shocks” across the UK in the wake of dramatic mortgage rate rises. The Labour leader today told City A.M. there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Starmer [...]
Truss and Kwarteng mini-budget to ‘deepen’ UK recession October 4, 2022 Liz Truss and Kwasi Kwarteng’s decision to slash taxes and ramp up borrowing without costing their plans will make the looming UK recession worse, City economists predicted today. Soaring mortgage rates driven by lenders passing on higher market yields pushed up by a lack of confidence in prime minister Liz Truss and chancellor Kwasi Kwarteng’s [...]
Explain decision to pull mortgage products, FCA warns lenders October 2, 2022 The chief of the City watchdog has fired a warning shot at lenders after banks pulled mortgage products from the market in droves this week amid extreme market volatility.
Banks and housebuilders bear brunt of market chaos September 29, 2022 Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed companies during this week’s market sell-off. FTSE 100-listed construction firms Taylor Wimpey and Barratt Developments have shed more than 20 per [...]
Truss defends mini-budget as ‘the right plan’ in bruising local radio interviews September 29, 2022 Prime Minister Liz Truss said she was willing to take “controversial” steps to spur growth today as she refused to reverse her economic plans that have rocked financial markets this week.
Ex Bank of England governor Mark Carney: Government ‘undermining’ financial institutions September 29, 2022 Sir Mark Carney, the former Bank of England Governor, has said the government’s mini-budget tax cuts are “working at some cross-purposes” with monetary policy. The economic accused Liz Truss and Kwasi Kwarteng of “undercutting” financial institutions, after last week’s mini-budget sent markets into turmoil, and the pound plummeting. Speaking to the BBC, his comments came [...]