Explainer: Rishi Sunak eyes a revival of Help to Buy May 2, 2023 Just over a month ago, we were reporting the phasing out of Help to Buy, which was closed to new entrants last year. Now, Rishi Sunak is considering relaunching the policy. Talking of u-turns. The scheme was introduced in 2013 by George Osborne to help first-time buyers get onto the housing ladder. It offered lower [...]
House prices rise for the first time in seven months but analysts still expect a rough ride May 2, 2023 The housing market showed “tentative” signs of recovery in April as the price of homes rose 0.5 per cent during the month, however prices remain four per cent below their August 2022 peak. The Nationwide house price index showed that the annual rate of house price growth improved to -2.7 per cent from -3.1 per [...]
Embattled Home REIT set to appoint investment adviser this week as field narrows to two May 2, 2023 Scandal-stricken social housing investor Home REIT is set to appoint a new investment manager this week as the field of potential suitors narrows to two, City A.M. has learned.
Start of 2023 a disappointing vintage for fine wine investments – but new Bordeaux gives reason to cheer May 1, 2023 Fine wines stashed away in climate-controlled cellars may have been growing all the more delicious over the first few months of 2023. But price has proved more unpredictable.
Chevron tops estimates with profit gains despite slide in oil prices April 28, 2023 Oil major Chevron Corp beat market expectations on Friday as profit nudged higher in the first quarter this year.
Printworks: London nightlife venue to become offices as new plans revealed April 28, 2023 The Printworks London nightlife and culture venue in Canada Water is to become a net-zero office space, new architectural plans have revealed. British Land, the commercial property owners behind Printworks, have unveiled an ambitious repurposing project for the land, which was formerly a printing press, and is the last major unconverted industrial building in central [...]
Property: Has spring sprung? Mini budget ripple blamed for keeping a lid on monthly sales April 28, 2023 UK residential transactions in March 2023 totalled 89,560 which was 19 per cent lower than the same month a year ago but 1 per cent higher than February 2023, according to HMRC. The seasonally adjusted figures also show the total of non-residential property purchases, including commercial and factory property was 10,640, three per cent higher than [...]
London rents surge to record high of more than £2,500 as experts warn of no let up in sight April 28, 2023 London rents have surged to their highest level on record and experts have warned there is little sign of the capital’s housing market improving any time soon, fresh figures out today reveal. The cost per month of renting a property in London climbed 14 per cent over the last year to £2,501, according to search [...]
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
The Square Mile and Me: Susannah Streeter on Northern Rock, Primrose Hill and Anne Boden April 27, 2023 Each week we ask the City’s movers and shakers to delve into the memory bank – and this week, it’s the former journalist and now Hargreaves Lansdown’s Head of Money and Markets Susannah Streeter in the hotseat What was your first job? My first job was as a silver service waiter for functions at the [...]