Get ready for a more mature Autumn Statement – which might mean you get ignored October 27, 2016 All Autumn Statements are political, but some Autumn Statements are more political than others. Under George Osborne, we have become used to very political Budgets and Autumn Statements. The former chancellor consistently engaged the media with policy tweaks – from pensioner bonds to corporate tax cuts. The changes were generally small, but their appeal to [...]
Britain’s cities compared: How long does it take to sell your house? October 25, 2016 While London may be an extremely popular choice for Britons to live, for anyone looking to sell their property quick-sharp, it is one of the worst. On average London is the fourth slowest city to shift a property in the UK according to a survey by Post Office Money. Furthermore, it takes almost double the length of time [...]
Property sales start to stumble following Brexit vote October 21, 2016 The number of people buying and selling homes, flats and offices has dipped in the latest sign of uncertainty in the UK property market. According to transaction figures published by HM Revenue & Customs (HMRC) this morning, sales of both residential and commercial properties are down. There were 93,130 residential transactions rubber-stamped during September, down 4.3 [...]
French banks in for a bumpy ride, but they’re still better than the ones in Germany and Italy October 20, 2016 French banks are weathering the negative interest rate storm better than their Eurozone rivals, thanks to healthier balance sheets and more sustainable business models. France’s three leading banks – Societe Generale, BNP Paribas and Credit Agricole – have outperformed the continent-wide Euro Stoxx banking index over the past year, and even with economic growth set [...]
Britain’s banks back in the firing line for potential mortgage calculation failings October 19, 2016 Mortgage lenders may have been over-charging hundreds of thousands of customers in arrears according to UK's banking watchdog. The Financial Conduct Authority (FCA) today announced that it will consult for guidance on whether banks have broken FCA rules and miscalculated mortgage repayments. Read more: Tyrie urges FCA to publish its report into RBS After working with [...]
Before the bell: What you need to know before the US market open October 18, 2016 Inflation in the UK has jumped, and new loans in China grew by more than expected. Here's what you need to know before the US market open at 2:30pm. US futures are pointing higher ahead of the open. The S&P is up by 0.54 per cent, while the Nasdaq is 0.62 per cent higher. The Dow [...]
Tax changes to force 440,000 landlords up a tax bracket October 18, 2016 More than 400,000 landlords will be pushed up a tax bracket from April next year. By 2021, landlords will not be able to deduct mortgage interest payments or other financial costs from their turnover before declaring their taxable income. Read more: Watch out, tenants: Landlords threaten to hike rents because of new taxes The changes [...]
As Mark Carney warns of troubles ahead, should the Bank of England tolerate rising inflation? October 17, 2016 Scott Corfe, associate director at the Centre for Economics and Business Research, says Yes. Inflation will rise next year, and it is likely to rise sharply as sterling’s remarkable decline feeds through into higher import costs. CPI inflation of 3 per cent is well within the realms of possibility and inflation of 4 per cent – [...]
Deutsche Bank could cut another 10,000 jobs October 14, 2016 Deutsche Bank could be preparing to cut another 10,000 jobs in a massive cost-saving drive. According to a Reuters report, the German lender's finance boss, Marcus Schenck, told staff in September the bank will need to "cut another 10,000 staff" on top of the 9,000 job losses announced by chief executive John Cryan last October. Read more: Deutsche [...]
Rents grew at the slowest pace this year in September October 14, 2016 Rents grew at the slowest rate this year in September as landlords absorbed higher tax rates rather than pass them on to tenants. Across the UK rents grew three per cent in the year to September, according to the HomeLet rental index. Read more: How Airbnb started its own Cuban revolution On average, tenants signing new agreements [...]