The global financial crisis 10 years on: A timeline of the global events that shaped the crash from the credit crunch to the recession and beyond August 7, 2018 Ten years ago this week the credit crunch started to bite. Take a look back at the global events that shaped one of the biggest recessions in history. Early tremors: February to June 2007 Early signs of trouble build, but are mostly missed. The giant Freddie Mac, also know as the Federal Home Loan Mortgage [...]
Halifax house price index: House prices hit new record – but activity remains ‘soft’ | City A.M. August 7, 2018 House prices rose by 3.3 per cent in the second quarter of the year, hitting a new record of £230,280 – but caution still reigns over the property market. Prices rose 1.4 per cent in July, according to the Halifax house price index, up 1.3 per cent on a quarterly basis. Russell Galley, managing director [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
Nationwide House Price Index ticks up – but economists urge caution | City A.M. August 1, 2018 Annual house price growth has climbed ahead of a possible rate rise this month, according to the Nationwide House Price Index. Prices in July rose by an average of 2.5 per cent, up from two per cent in June. It comes just a day before the Bank of England’s monetary policy committee (MPC) meets to [...]
Mortgage approvals jump to five-month high as subdued market picks up | City A.M. July 30, 2018 Mortgage approvals hit a five-month high in June as Britain’s housing market shows signs of recovery from a slowdown earlier this year. British lenders approved 65,619 mortgages in June, rising 1.5 per cent from 64,684 in May and reaching the highest level since January, according to data from the Bank of England (BoE). Meanwhile, the [...]
Stunted house price growth dragged down by London slump July 18, 2018 House price growth in May slowed to its lowest annual rate in nearly five years, according to figures from the closely-watched Office for National Statistics (ONS) house price index. On average house prices across the UK have risen three per cent in the year to May 2018, falling from 3.5 per cent in April and [...]
Your financial wellbeing is more than just the money in your bank account and the number on your paycheque July 18, 2018 How healthy are you? The answer might make you cringe, but chances are you’ve probably got an answer. “Relatively fit” or “could do with losing a few pounds” will probably sound familiar. But what if you were asked how financially well you are instead? You might be earning a good salary, but still find yourself [...]
Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
Market outlook July 17, 2018 Trump trade war threat A continued world recovery, led by the US with good support from Chinese growth among the emerging markets, is a positive backdrop for share markets. The Trump tax cuts and spending increases could boost US demand and output with the upcoming earnings season in the US likely to be the strongest [...]
Thalassotherapy in Sardinia, where long-livers swear by the relaxing and healing properties of seawater | City A.M. July 17, 2018 They say the most stressful moments in a person’s life are divorce, bereavement and moving house. Thus far, I’ve managed to avoid the first two, but I went through the mortgage process for the first time this summer. Needless to say, ‘they’ were right and no ordinary beach break was going to revive the anxious, [...]