British household savings declined in October October 22, 2018 British household savings declined this month as salary growth slowed to the weakest rate in eight months, according to a survey of household finances. The IHS Markit Household Finance Index declined to 45.1 in October from 45.7 the previous month, signalling increased pessimism by UK households towards their financial situations. Read more: Goldman Sachs enters British savings [...]
FTSE round up: Unilever boosts index as Easyjet sinks October 19, 2018 The FTSE 100 closed up 0.8 per cent for the week on after climbing to 7,051.41 today on the back of strong performances from consumer goods companies Reckitt Benckiser and Unilever. Unilever’s shares were up 3.11 per cent, reversing yesterday’s losses which followed it delivering a solid, but slightly underwhelming set of third quarter results. [...]
Focus On Borough: Huge change is coming to the ancient part of central London. Is it time to buy? October 19, 2018 In many ways, Borough is typical of London. Some parts of it are eye-wateringly old, like foodie haven Borough Market, which celebrated its 1,000th birthday this year. Other parts are tediously touristy, like London Dungeons. Other parts are so recharged, they’re unrecognisable, like Hays Galleria or anything within 100m of The Shard. It’s a muddle, [...]
Opinion: Would a People’s Vote inspire investors to take a punt on London or would it just cause more uncertainty? October 19, 2018 This weekend sees the People’s March come to London, with thousands of people set to take to the streets to demand a People’s Vote on the final Brexit deal. As a buying, I’m often asked about the impact of Brexit what the prospect of a People’s Vote could have on the prime London property market [...]
Intu considers UK-Saudi takeover offer October 19, 2018 Shopping centre chain Intu is considering a takeover offer from a consortium including British billionaire John Whittakar, Saudi investment group Olayan, and Brookfield Property Group. Shares in Intu were up more than 14 per cent on the news that the company was mulling the offer to go private. Read more: Intu shares soar nearly 30 [...]
City Moves for 19 October – who’s switching jobs at SYZYGY, Equity Development and Relendex? October 18, 2018 Here’s who’s moving jobs today at SYZYGY, Equity Development and Relendex. SYZYGY Digital agency group SYZYGY (WPP) today announces the appointment of Ita Murphy as UK chief executive to drive growth of its UK business operations. Ita will report directly to group chief executive Lars Lehne. The new Management Board of SYZYGY UK also includes [...]
TfL is building tiny, affordable one-bed flats around London for priced-out first-time buyers October 18, 2018 A series of “genuinely affordable” but tiny one-bedroom homes are set to pop up around the capital, marketed at buyers priced out of the housing market. Single people or couples buying one of the 125 flats would own the entire property from day one, said Transport for London (TfL), which has partnered with private developer [...]
Opinion: Why we must remember that Mark Carney’s warnings about house prices are a worst case scenario October 18, 2018 Mark Carney made headlines, and plenty of waves, with his comments on the possible effect of a no-deal Brexit on house prices. He said that they could fall by a third if we failed to strike a deal with the EU. Certainly, you would have to say that the governor of the Bank of England [...]
Blame the bank: How finance caused today’s housing crisis October 18, 2018 Home ownership is increasingly out of the reach of younger adults in the UK. The share of those aged 25-34 who own their home fell from 55 per cent in 1997 to 35 per cent in 2017, according the Institute of Fiscal Studies. A decade of stagnant wage growth means that the gradual house price [...]
New Look confirms China exit plans October 18, 2018 Fashion chain New Look confirmed today that it was planning on pulling the plug on its operation in China. The company said it has been gradually reducing its number of stores and now intends to close its remaining 120 stores in the country by the end of December 2018. Its Shanghai head office will close [...]