London house prices: First-time home buyers face nightmare market as deposits soar and supply lags July 31, 2015 We all know how tough the housing market is for first-time buyers, and one of the main reasons is lack of supply. Much has been said about how the government is looking to tackle this problem by encouraging housebuilders to ramp up construction of new builds. But figures out this morning show that far from [...]
Countrywide share price slumps after UK housing market slowdown July 31, 2015 Shares in the UK’s biggest estate agency Countrywide tumbled four per cent yesterday after posting a sharp fall in profits, blaming a “difficult housing market” and the uncertainty in the run-up to the General Election. The company, which owns estate agencies including Hamptons, Blundells and John D Wood, said profit before tax decreased [...]
Brazil’s Vale swings back to profit despite lagging commodity prices July 30, 2015 BRAZILIAN mining firm Vale managed a return to profit in the second quarter, despite flagging commodity markets. Profit climbed to $1.7bn (£1.1bn) in the period, up from a $3.1bn loss in the first quarter, and improving on the $1.4bn profit reported for the second quarter of 2014. The group also posted record second quarter iron [...]
City Moves for 31 July 2015 | Who’s switching jobs July 30, 2015 Allianz Worldwide Care The health and life insurance firm has appointed Ida Luka-Lognoné as chief executive. Before joining Allianz Worldwide Partners’ executive committee in January 2014, responsible for strategy, innovation, and market management, she was chief executive for Europe, Middle East and Africa at Allianz Global Assistance. Luka-Lognoné has also held roles at Elvia Travel [...]
Greece crisis: After six months in power Alexis Tsipras’ Syriza government has left the country with a veritable Mount Olympus to climb July 30, 2015 Alexis Tsipras’ six-month old left-wing Syriza government has put the country through a breath-taking roller-coaster of ideological hysteria, politico-economic gambles, and farcical constitutional experiments. Now it faces a rockier path ahead than the one it inherited. Perversely, at the time they lost power, the previous government was beginning to boast financial indicators pointing [...]
It’s not just David Cameron who needs to visit the Asean region: Singapore should be first for the UK’s tech investors July 30, 2015 For ambitious, high-growth UK tech companies with overseas expansion plans, Singapore offers an unrivalled ‘gateway’ into Asia. During his trip to the Asean (Association of Southeast Asian Nations) region this week, Prime Minister David Cameron highlighted Southeast Asia’s 600 million people and thriving emerging economies, which could represent trade worth £3bn to the British economy. [...]
Chime Communications’ share price soars after £350m WPP takeover revealed July 30, 2015 Chime Communications' share price has shot up by more than 25 per cent in early trading after revealing that WPP and US private equity firm Providence Equity Partners are in talks to buy the company for £350m. Read more: Chime Communications scores higher profit with World Cup and Sochi Olympics Sir Martin Sorrell's advertising giant WPP [...]
A quiet tech revolution is happening – not in Shoreditch or Birmingham – but in Croydon July 30, 2015 I read Nick Holzherr’s recent article championing Birmingham’s Silicon Canal with a mixture of interest and a large degree of scepticism. As the founder of Croydon Tech City, I agree that the UK’s technological future doesn’t lie solely with the denizens of Old Street. But I argue vehemently with his alternative. If you want [...]
As David Cameron vows to crack down on corrupt foreigners buying London properties, can PM lift the shroud of secrecy? July 30, 2015 Prime Minister David Cameron grabbed headlines this week when he said: “There is no place for dirty money in Britain.” Vowing to remove a “shroud of secrecy” surrounding luxury London properties owned by offshore holding companies, the Prime Minister said in a speech in Singapore that the UK “must not become a safe haven for [...]
Don’t rejoice at Labour’s meltdown: One pro-business party is not enough July 29, 2015 On 8 May, a large swathe of the British business community breathed a huge sigh of relief, as it transpired that Ed Miliband’s Labour Party had been decisively defeated in the general election. Since then, things have gone from bad to worse for the opposition. Only last week, a poll suggested that left wing [...]