Plain packaging is a losing strategy in the fight against smoking July 30, 2014 In the half-century since the landmark Surgeon General’s Report in the United States that first linked tobacco use to cancer, public-health advocates have made great strides in convincing people to kick the smoking habit–or never pick it up in the first place. The multimedia campaign against smoking continues to rack up successes today, but the [...]
House lending bounces as regulation squeeze eases July 29, 2014 Lending for house buyers is bouncing back after a knock from new regulations, as figures yesterday confirmed the biggest increase in mortgage approvals since 2008. There were 67,196 mortgages for house purchases approved in June, according to the Bank of England – a rise of more than 5,000 from May, and the fastest for five [...]
Personal insolvencies up but firms’ woes fall July 29, 2014 VOLUNTARY insolvencies surged in the last three months, official figures showed yesterday. The increase pushed up overall insolvencies by five per cent on the year to 27,029. But the fastest increase in four years in fact shows the economy was recovering, analysts said. “Now property prices are rising, creditors are more likely to think about [...]
Brand Index: Feeling good yet? A happy wallet is key to confidence July 29, 2014 House prices are rarely out of the headlines, particularly in the capital. After unprecedented increases and talk of a bubble, homeowners are becoming more circumspect. Over the past 18 months, we have seen an increase in consumer confidence largely driven by the property market – both recent experiences of it and also expectations for it [...]
City Moves for 30 July 2014 | Who’s switching jobs July 29, 2014 Anthology David Clark has been appointed chief financial officer at the property developer, backed by Oaktree Capital Management. He joins from Mount Anvil, the specialist residential property developer, where he was group finance director. CityJet Patrick Lukan has been appointed chief commercial officer at the airline. He joins from Carlson Wagonlit Travel, where he was [...]
In graphs: Mortgage approvals rise in June even as London house prices drop July 29, 2014 The discussion around the UK property market was given an added element of confusion today as mortgage lending statistics for June beat expectations. In its Money and Credit report, the Bank of England shows that the number of mortgages approved for house purchases was up to 67,196 in June, above the 62,007 seen in May [...]
City’s Gherkin skyscraper to be sold off with £640m starting price tag July 28, 2014 The City’s iconic Gherkin has been put up for sale on the open market after it collapsed into receivership earlier this year, with a price tag of around £640m. Receivers at Deloitte have appointed their real estate arm and Savills to sell 30 St Mary’s Axe, which will be advertised to buyers across the [...]
Frothy UK property market to cool on interest rate hikes and regulations July 28, 2014 The UK's rapid house price growth will slow down as new regulations come in and gradual interest rate hikes begin, according to a report by credit ratings agency Standard & Poor’s. The research, released yesterday, suggested that UK house prices would not see a downward correction if the increases in interest rates were relatively [...]
Aberdeen Asset Management share price hit by outflows after client pulls £4bn July 28, 2014 Europe’s biggest independent fund manager Aberdeen Asset Management fell more than five per cent in trading yesterday after it reported a small dip in the amount of cash it managed for customers. Aberdeen, head by chief executive Martin Gilbert, said one institutional customer pulled £4.2bn on their own from the group’s equity products, driving the [...]
CNBC Comment: Why UK banks aren’t riding the recovery July 28, 2014 THE TIES between Britain’s banks and its economy have always been close. But they have seemed even closer in the post-banking bailout era. On Friday, when RBS rushed out its second quarter results a week early (which was rather odd in itself – don’t companies usually only rush out results if they’re either worse than [...]