Going nowhere fast: UK inflation stays at 0.3 per cent in February March 22, 2016 The UK's inflation rate remained at 0.3 per cent in February, according to data released this morning by the Office for National Statistics. Inflation, as measured by the year-on-year change in the consumer price index, was equal to January's 12-month high of 0.3 per cent. Transport costs were the biggest downward contributor falling 1.1 per cent on the [...]
Eurozone economy avoids further slowdown in March – Markit PMI March 22, 2016 The Eurozone economy grew at a faster rate in March, according to survey data released this morning. Markit's purchasing managers' index rose to a score of 53.7. It marks a small rebound from February's 12-month low of 53. It also puts the PMI further above the 50 no-change mark, which implies the economy is growing faster. Growth [...]
Supermarkets reap over £1bn of property investment in 2015 as new buyers pile in March 22, 2016 Britain's supermarket sector attracted over £1bn of property investment last year as investors shrugged off the price wars and and went in search of stable returns. Research released today by Colliers International and data analytics provider MSCI revealed that deal volumes reached £1.4bn in 2015, up slightly on the previous year but down on the record [...]
Financial Ombudsman explains frequent problems with debt management companies after it reveals that debt charities are receiving 4,000 new requests for help a day March 22, 2016 The Financial Ombudsman has today explained the most common problems it hears about regarding services offered by debt management companies. In its most recent newsletter, the Ombudsman reveals that debt charities are now receiving 4,000 new enquiries a day. Juliana Francis, senior ombudsman, explained that the complaints received regarding debt management companies, which she calls among the [...]
UK pensions freedoms: Number of defined benefit (DB) to defined contribution (DC) pension transfers lower than expected, finds Financial Reporting Council report March 21, 2016 We hope you didn't bet your pension pot on there being a big switchover from defined benefit (DB) to defined contribution (DC) schemes when the pension freedoms came into force last year – research published today by the Financial Reporting Council (FRC) discovered that there has been relatively low levels of scheme swapping. The study by [...]
House prices: volatile equity markets and Brexit fears are hurting prime global rents, says Knight Frank March 21, 2016 Volatile equity markets and economic weakness in emerging markets dragged rental prices for high-end homes in key global cities lower last year, new research shows. Knight Frank's prime global rental index, which tracks the change in luxury residential rents across 17 cities globally, fell by 1.1 per cent in 2015, down from growth of 2.5 per cent in 2014. Geneva replaced Moscow as the [...]
Housebuilder Inland Homes posts record half-year profits as average prices rise March 21, 2016 Shares in Inland Homes edged higher today after the housebuilder and regeneration specialist posted a jump in half-year profits. The Aim-listed company, which buys and develops brownfield land in the south and south-east, posted a 274.4 per cent increase in pre-tax profits to £21.5m in the six months to the end of December, boosted by a £14m revaluation [...]
Jack Wills secures extra £10m funding as its embarks on a store opening spree March 21, 2016 Jack Wills has secured an extra £10m of funding from its lenders as it looks to add another 10 stores to its clothing empire this year. The preppy fashion chain, which counts Prince Harry among its fans, said HSBC has agreed to increase its revolving credit facility to £30m for the rest of 2016 to help support its expansion. [...]
Fashion retailer New Look to move 800 staff to new London headquarters at King’s Cross March 21, 2016 New Look is moving 800 staff to new headquarters at King’s Cross after signing up for seven floors on the 67-acre regeneration site. The fashion retailer, which was bought last year by South African billionaire Christo Wiese, has taken a lease for 123,000 square feet of space in building R7 on Handyside Street on the north-eastern part of the site. It [...]
Concerns for growth as Eurozone consumer confidence edges down to 13-month low March 21, 2016 Consumer confidence in the Eurozone has fallen to a 13-month low this month. Figures released today by the European Commission reveal the so-called flash consumer confidence index – an early estimate of data to be finalised at the beginning of next month – dropped to a score of minus 9.7. It marks the third consecutive month [...]
