Regulator launches review into consumer investment market September 15, 2020 The consumer investment market is not working as well as it should and it is due a fundamental review, according to the Financial Conduct Authority (FCA). Too often consumers are receiving lower returns than they should because of “unsuitable products with high fees”, the financial regulator said. It is launching a “call for input to [...]
Rishi Sunak eyes fresh tax breaks for UK businesses September 13, 2020 Rishi Sunak is mulling over multi-billion pound tax cuts for UK businesses that invest in property, plant and equipment in the wake of the coronavirus crisis. The plans involve giving companies tax breaks on capital investments, such as machinery, in an attempt to stimulate economic activity and boost the government’s “levelling up” agenda. Companies receive [...]
McLaren puts iconic Woking HQ up for sale for £200m September 10, 2020 Sports car maker McLaren has put its iconic headquarters near Woking in Surrey up for sale in a bid to shore up its balance sheet amid the ongoing coronavirus crisis. Sky News first reported that the firm has instructed property agent Colliers to begin marketing a sale-and-leaseback of the McLaren Technology Centre, with offers in [...]
British Land chief to step down in November September 10, 2020 Property developer British Land has today announced that chief executive Chris Grigg will step down after 11 years at the helm. Simon Carter, who is currently the firm’s finance chief, will take over the top job, it added. Carter returned to British Land in 2018 after spells as the finance chief at European warehouse business [...]
London house prices stabilise as buyers take advantage of stamp duty holiday September 10, 2020 London’s housing market has stabilised with activity continuing to rise, as buyers take advantage of the stamp duty holiday. The August Rics residential survey found 28 per cent of respondents noted an increase in buyer interest across the capital. Buyer enquiries continued to rise while the number of new properties listed for sale also increased. [...]
English businesses affected by local lockdowns to get extra government funding September 9, 2020 English businesses that have been forced to close in local lockdowns will receive grants worth up to £1,500 per per property they operate every three weeks. The emergency funding will provide support for businesses in cities such as Leicester, Bolton and other parts of Greater Manchester that have been hit by local lockdowns. The grants [...]
Knight Frank launches auction business to battle coronavirus uncertainty September 9, 2020 Estate agent Knight Frank has launched an auction business to help clients sell homes faster during the heightened period of uncertainty caused by the coronavirus pandemic. The property consultancy announced this morning that it will hold seven sales in total, with the next one held on 22 October, following a successful trial in July. Further [...]
Investors turn their back on UK equity funds due to Brexit jitters September 8, 2020 Resurgent Brexit fears combined with the economic impact of the pandemic has seen investors flee from UK equity funds in record numbers. UK equities suffered their worst three months for outflows between June and August, as investors flock to global equity funds in Europe and the US. Investors have been preoccupied with the coronavirus outbreak [...]
Exclusive: Merton leads London house prices higher as buyers seek space September 8, 2020 House prices in the south-western boroughs of Merton and Sutton rose at the fastest pace in London in the year to July as buyers looked for more space during the coronavirus pandemic, according to exclusive analysis by property website Zoopla for City A.M. Prices barely budged in the borough of Hillingdon on the western edge [...]
FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]