Forget WeWork and Airbnb: inside the company nailing remote working July 10, 2025 From the Summer issue of City AM The Magazine: inside the remote working company appealing to a new generation of digital nomads Rows upon rows of cookie-cutter houses fill the boujee neighbourhood of Abbot Kinney in Los Angeles. In front of one, a basketball hoop stands by a double garage. It looks like all the [...]
Week in Business: The tragedy of Labour’s tax addiction July 10, 2025 From the housing market to the stock exchange, some taxes need to be reformed or reduced - but this government only wants to hike rates.
Vistry looks to ‘transformative’ government investment as profit drops July 10, 2025 Housebuilder Vistry has reported a sharp drop in profit but expects activity to pick up later in the year as the government’s affordable homes investment filters into the market. Vistry, which unseated Barratt as the UK’s biggest housebuilder last September, told markets that it expects adjusted operating profit to be £125m in the first half [...]
Watchdog probe to net £100m from listed housebuilders for affordable schemes July 9, 2025 A probe by the UK’s competition watchdog is likely to result in a collective £100m package from seven housebuilders for affordable housing schemes. The Competition and Markets Authority (CMA) probe, which looked into the anti-competitive practices of seven housing developers – Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry – was launched [...]
Close Brothers to scale back lending after motor finance hit July 9, 2025 Close Brothers is set to scale back its premium finance division in a bid to cut costs and focus on its offerings for businesses. The lender said on Wednesday it would begin to prioritise insurance products designed for businesses in its commercial lines, which the firm said offered better risk-adjusted returns and long-term growth potential. This will [...]
Will the Renter’s Rights Bill push up costs for student accommodation? July 9, 2025 The Renter’s Rights Bill is set to introduce huge changes into the UK’s property market. Landlords and tenants alike will see significant upheaval, with fixed-term tenancies abolished, no-fault evictions banned and pets allowed. But how much will all of this affect students? Unite, which is the largest provider of student housing in the UK, reckons [...]
OpenAI’s security crackdown signals new AI battle July 8, 2025 Silicon Valley’s $300bn crown jewel, OpenAI, is shifting focus from building artificial intelligence to protecting it. OpenAI, the maker of ChatGPT and arguably the most scrutinised name in AI, has imposed a sweeping internal lockdown. From biometric fingerprint scans, to offline ‘tented’ R&D zones, the San Fransisco-based firm is tightening security across the board amid [...]
Unite boosted by growing student numbers but warns on Renters’ Rights Bill July 8, 2025 Student of accommodation provider Unite has posted an uptick in the value of its two property portfolios, buoyed by high occupancy and growing rents, but warned the upcoming Renters’ Rights Bill will increase costs for students. Unite said the value of its UK-wide portfolio grew by 0.6 per cent to £2.9bn, while its London portfolio [...]
UK housing market faces ‘considerable upheaval’ as sellers lose confidence July 7, 2025 Estate agents have warned that a turbulent global economy and changes to stamp duty have caused upheaval in the housing market after prices flatlined in June. UK house prices were stagnant in June, according to the latest data from Halifax, after a 0.3 per cent drop from April to May. “Today’s news suggests that house [...]
UK house prices stagnated in June, Halifax index finds July 7, 2025 UK house prices were stagnant in June with average prices flatlining at £296,665, according to the latest Halifax data. Despite a 0.3 per cent drop from April to May, the average UK house price was still 2.5 per cent higher than it was in June of last year. Properties in London saw a rise of [...]