Bad news for George Osborne as UK borrowing rises again, missing expectations December 22, 2015 Public sector borrowing rose to £14.2bn in November, missing expectations of £11.8bn and rising higher than this time last year, when the UK borrowed £12.9bn. The figure suggests the Treasury is likely to miss a full-year target of £73.5bn set by the Office for Budget Responsibility (OBR), analysts suggested. "Barring a dramatic improvement in the [...]
Warning shot to the City as trader Tom Hayes’ conviction over Libor scandal upheld December 22, 2015 The City was sent a stark warning yesterday that authorities will continue to crack down on financial crime as Court of Appeal judges upheld Tom Hayes’ conviction for Libor rigging. Hayes, who was found guilty on eight charges of conspiracy to defraud and sentenced to 14 years in August for his role in the manipulation [...]
UK house prices: Mergers, IPOs and property tech disruption – how online estate agents will change the housing market in 2016 December 22, 2015 This year has been an explosive one for the online estate agency sector. We have seen the space develop, increase in size dramatically and show that it is here to stay. It's not just a fad, as the high street so desperately claims. I believe the central plank behind the success of the online sector [...]
Diageo share price flat after completing Red Stripe sale to Heineken as the drinks giants swap emerging markets assets December 22, 2015 FTSE-listed drinks giant Diageo has completed its $780.5m sale of Red Stripe lager to Heineken. The deal was announced in October as the pair unveiled plans to swap assets in emerging markets. Red Stripe will join other Heineken-owned beers like Desperados, Sol, Tiger and Birra Moretti, as Diageo offloaded its stake in Jamaican Red Stripe maker Desnoes & Gedden [...]
FTSE 100 index opens up as oil prices hold steady December 22, 2015 The FTSE 100 index opened 0.75 per cent up this morning at 6,080 points, after a boost from oil prices, which recovered slightly. As oil prices rose, BP, Royal Dutch Shell and BG Group were all embedded at the top of the FTSE 100, while miners continued to make gains as commodities rebounded just in time for Christmas. BP [...]
UK consumer confidence ends 2015 on a high December 22, 2015 UK consumer confidence rose in December, rounding off a strong year for shoppers. The monthly consumer confidence index published today by market researchers GfK hit a score of two this month from one in November. Between 2008 and 2014, the index spent most of its time in negative territory. “This is the first time since [...]
UK retailers scramble to rescue Christmas as distress levels rise amid fierce discounting December 22, 2015 High street retailers have suffered a disappointing Christmas so far this year amid fierce competition and the rise of online, Begbies Traynor has warned, with retailers now pinning their hopes on a last-minute sales spree this week. According to the insolvency specialist's latest Red Flag research, which monitors the health of UK companies, the number of retailers now suffering [...]
London house prices to climb five per cent in 2016, says Royal Institution of Chartered Surveyors December 22, 2015 London house prices will climb five per cent next year as the shortage of homes coming to the market and rising demand lifts prices, according to a new forecast. The Royal Institution of Chartered Surveyors (RICS) said prices were forecast to go up despite the launch of government initiatives to boost homebuilding. However, London price growth is [...]
Prime London residential rental growth slows to 17-month low as bank job cuts hit demand December 21, 2015 Job cuts and declining optimism at European banks has dragged rental price growth in London’s prime property market to its lowest level in 17 months, according to Knight Frank. The estate agency’s latest prime central London rental index fell by 0.4 per cent in December from the previous month, on the back of falling demand [...]
EU extends Russia economic sanctions by six months December 21, 2015 The EU is extending economic sanctions against Russia by six months, it announced today. The sanctions, which were introduced in the July last year in response to Russia’s involvement in the annexation of Crimea in Ukraine, will stay in place until 31 July 2016. EU leaders linked the duration of the sanctions to the completion [...]
