UK exports: Venezuela is the riskiest place in the world to do business – while Norway is the most resilient March 31, 2015 Expanding abroad is a big step for any business – and that's without added risks from geopolitical instability and dodgy dealers, not to mention natural hazards. Now a new "resilience index" by property insurer FM Global has identified the riskiest places in the world to do business – taking into account factors ranging from corruption, [...]
Bank of England stress test: British lenders assessed against global economic crunch March 30, 2015 Britain's biggest banks have to prove they could withstand a global economic crunch, under a stress test unveiled by the Bank of England yesterday. The fictional scenario is based on real fears that a slowdown in China and renewed recession in Europe could hit the UK economy and its banks. The six biggest banks [...]
Headache for retailers as business rates to reach record level in 2017 March 30, 2015 Businesses will be footing a rates bill based on half of the rental value of their properties – the highest level yet – according to research out today. Business rates, charged on commercial properties including offices and shops, are calculated according to their rental value. The system has been blamed for the demise of the [...]
Land Sec gets £1.2bn facility March 30, 2015 THE UK’s biggest landlord Land Securities reported a new £1.26bn Revolving Credit Facility (RCF) yesterday in a further sign of increasing lending activity in the property market. The new RCF will last five years, with a possible two-year extension upon agreement of the bank syndicate involved in the refinancing. The firm’s previous RCF was worth [...]
Don’t fear the deflation bogeyman: It’s unlikely to harm the UK economy March 30, 2015 As flat as a pancake. Last week’s inflation figures showed that the Consumer Price Index (CPI), the main measure of the prices of goods and services bought by households, was the same in February as it was a year earlier. This has led many to ponder the likely economic implications of deflation – if the [...]
Wealthy Russians are pushing up London rental prices by paying an entire year’s rent upfront – as stamp duty and the mansion tax scare buyers into becoming tenants March 30, 2015 Wealthy tenants from Russia, Ukraine, Nigeria and China are pushing up high-end rents in the capital by paying for an entire year of tenancy upfront, a new study has suggested. Upmarket lettings agency EJ Harris said the number of wealthy foreign investors paying annual rents upfront has doubled in the past year, from one in [...]
UK property prices: A third of all house sales are now to first time buyers March 30, 2015 A third of all house sales are now made to first-time buyers, a new report has found, suggesting the UK's housing market is becoming less hostile towards those attempting to climb the first rung on the property ladder. The report, by the National Association of Estate Agents (NAEA), said 30 per cent of all house [...]
West End shops’ business rates set to soar 80pc March 29, 2015 WEST END retailers are set to be the big losers from the next business rates revaluation, with research undertaken by property consultancy and rating specialist Gerald Eve showing they face increases in their bills of over 80 per cent. The firm said that shops situated on Bond Street, Oxford Street and Regent Street will pay [...]
London rents more than double UK average as high property prices lift sector demand March 29, 2015 Rents in London rose by eight per cent in February compared with the same month last year, as high property prices forced more people into the rented sector. For the UK as a whole, average rents increased by seven per cent in February compared with last year, figures released by estate agents Barnard Marcus show [...]
Ed Miliband: David Cameron’s divided party is now a clear and present danger to UK business March 29, 2015 ELECTION COUNTDOWN 38 DAYS TO GO Today the Prime Minister is going to Buckingham Palace. Parliament is dissolved and the General Election is finally underway. This election is not simply a choice between parties and leaders but between different visions of our country, of how we succeed, of the kind of country we [...]