Over-40s are on a mortgage shopping spree – but age restrictions mean they’re struggling to borrow February 23, 2016 The over-40s are going berserk for mortgages – but banks and building societies are having trouble lending to them because of age restrictions, new research has found. The findings, by Nottingham Building Society, suggested two in five mortgage brokers have reported a rise in mortgage customers over the age of 40 – but 17 per cent [...]
New stamp duty land tax extra three per cent charge could hit parents who want to help their children get onto the property ladder, tax experts warn February 23, 2016 If you're currently saving to give your son or daughter a helping hand onto the property ladder, you might find you need to put aside a little bit more than you bargained for to cover tax charges. The Chartered Institute of Taxation (CIOT) yesterday cautioned that the additional three per cent charge on stamp duty [...]
Standard Chartered share price down as group chief executive dubs 2015 performance “poor”, bank brings in annual loss of $1.5bn and underlying profits plummet 84 per cent February 23, 2016 Share price in Standard Chartered dropped this morning as the company revealed that it had made a loss overall for the year and that its underlying profits before tax had dropped sharply. The bank today announced underlying profits before tax of $0.8bn (£0.6bn) for its year ended December 2015, down 84 per cent from $5.2bn the year [...]
Housebuilding is the new black: Persimmon share price rises as profits leap 34 per cent February 23, 2016 Another day, another bit of good news coming out of the housebuilding sector, after Persimmon reported a 34 per cent jump in pre-tax profits. The figures Underlying pre-tax profits rose to £637.8m in the year to the end of December, up 34 per cent on last year's £475m, while full-year revenues rose 13 per cent to £2.9bn. The company said legal completions jumped eight [...]
North Sea oil on the “edge of a chasm” as plunging oil prices mean half will operate at loss this year, Oil & Gas UK warns February 23, 2016 North Sea oil firms are operating on the brink of collapse, with nearly half of all oil fields on the continental shelf likely to operate at a loss this year, a new report has warned. Oil & Gas UK's annual survey of the sector found that while operating costs have been driven down, it is [...]
Ladbrokes share price jumps as it beats expectations – but new gambling and point-of-consumption taxes take their toll February 23, 2016 Not a great day for Ladbrokes, after it reported a 50 per cent fall in profits for 2015 as increased taxes began to have an impact. The figures Ladbrokes said trading profits fell 50.3 per cent, from £112.2m last year to £55.8m in 2015. That's above analyst expectations – last week Deutsche Bank said it expected profits to fall to £44m. [...]
Swiss Re income boosted by “absence of natural catastrophes” as it appoints Christian Mumenthaler to replace Michel Liès as chief executive February 23, 2016 Swiss Re, the insurance giant after which the Gherkin was once named, said today that has appointed a new chief executive. The company said Christian Mumenthaler, currently head of its reinsurance division, will step up to the plate on 1 July, after current boss Michel Liès said he was planning on retiring. The news came Swiss Re said [...]
Manufacturers call for the government to invest in the sector to escape the productivity puzzle February 23, 2016 Britain’s manufacturers are calling on the government to do more to balance the economy in order to solve the so-called productivity puzzle that has baffled economists since the financial crisis. According a survey from the manufacturers organisation EEF, UK manufacturers have managed to escape the productivity puzzle more quickly than the rest of the economy, [...]
Anglo American, Antofagasta, Glencore and Rio Tinto all see shares jump while BHP Billiton becomes latest FTSE miner to slash its dividend February 23, 2016 Some of the world’s biggest mining firms led the FTSE 100 above 6,000 yesterday, as rising commodity prices saw the beleaguered industry bounce back. All five of the index’s top risers were miners, with Glencore and Anglo-American recording double-digit gains and Rio Tinto and Antofagasta also rising sharply. Dual-listed BHP Billiton, which was last night [...]
London ranks 39th in the world for quality of living because of smog and traffic, says Mercer February 23, 2016 London may pride itself on being the world’s top financial centre. However the capital falls short in terms of quality of living, ranking just 39th according to Mercer’s latest annual study. The global consulting firm surveyed 450 cities worldwide based on 38 different factors such as the political and economic environment, public services and healthcare. [...]
