Financial markets rattled by Bank’s Brexit Bazooka August 23, 2016 The Bank of England's latest bond-buying spree has rattled financial markets by stoking fears that the massive £70bn post-referendum rescue package could be overshooting its mark. Threadneedle Street was forced to pay a premium on £1.17bn worth of government debt because of low market supply yesterday. This caused the going rate for UK bonds to [...]
Best Buy’s share price has jumped ahead of the opening bell August 23, 2016 Shares in the largest US consumer electronics retailer Best Buy have leapt ahead of the opening bell in New York after posting a rare rise in sales. An hour ahead of the open the company's shares were 16 per cent higher at $38.18 in pre-market trading. The boost to shares came from an up-tick in forecasts for the third [...]
Edinburgh should stay the top UK location for commercial property investment outside London post-Brexit August 23, 2016 It’s fair to say we live in interesting times post-Brexit. The only tangible outcome of the United Kingdom’s EU referendum on 23 June has been uncertainty so far. But while many across corporate Britain wait for greater clarity, property deals continue to be made – with investors showing a clear preference for traditionally strong, robust [...]
UK jobs rebuffed Brexit woes in July, finds Robert Walters August 22, 2016 The UK jobs market warmed up throughout July, as employers got back into action following the Brexit vote, research from one specialist recruitment consultancy has found. Figures from Robert Walters, seen exclusively by City A.M., found the number of vacancies advertised across the UK jumped by 21 per cent in July compared with June. Employers were keen [...]
Speedo and Ralph Lauren ditch Ryan Lochte in wake of American swim star’s Rio “robbery” row August 22, 2016 American swimming star Ryan Lochte has been dumped by trunk-maker Speedo after he admitted to exaggerating claims that he and team-mates were robbed at gunpoint during the Rio Olympics. Luxury fashion retailer Ralph Lauren also said it would not be renewing its endorsement deal with Lochte, while other sponsors said they were reviewing their positions. [...]
The public sector’s vast bank of unused land is a national disgrace August 22, 2016 So Brexit means that overseas demand for London property will decline, prices will fall and the housing crisis will ease, right? Think again. Whatever the effects of Brexit on London house prices, short or long term, the basic problem persists: the capital faces a chronic shortage of homes. Demand for all but the most expensive [...]
Jeremy Corbyn’s Labour should focus on growth above inequality August 22, 2016 It used to go without saying that growth matters. But if former US Treasury secretary Larry Summers now feels the need to take to the pages of the FT to make the “progressive case for economic growth”, it shows just how far other issues, whether inequality or climate change, have come to dominate the thinking [...]
Andrea Leadsom’s campaign manager has admitted “rookie mistakes” in the MP’s failed Tory leadership bid August 22, 2016 A high-profile interview which saw Andrea Leadsom accused of attacking Theresa May for not having children was “a cock up”, her former campaign manager has admitted. Speaking at the Edinburgh Festival last weekend, Conservative MP Tim Loughton claimed Leadsom was being “set up” by journalists, but maintained the decision to give the interview was “a [...]
Classic cars, fine wine, coins and racehorses: One in six investors now has money in a “hobby” investment August 22, 2016 Call them sentimental, but more and more investors are turning their pastimes into profits, according to a new study from Lloyds Private Banking. One in six investors now cultivates a "hobby investment", spending on average £13,500 on a single item, though one in 10 is willing to splash out £50,000 on an individual item. The most popular [...]
New poll claims the skills shortage is crippling the construction industry August 22, 2016 The skills shortage in the construction sector is at “breaking point” according to a new survey of project managers and contractors. Six in ten senior decision-makers in the industry said they believed the quality of their work was suffering due to a lack of experienced staff, while one in ten said low supply of skilled [...]