Global rents for high-end homes at slowest rate of growth since 2010 October 8, 2015 Global rents for high-end homes grew at their slowest rate in more than five years in the second quarter, research out yesterday claimed. Knight Frank’s index of prime residential rents rose by 0.2 per cent in the year to June, down from 3.2 per cent two years earlier and marking the slowest rate of [...]
Value of European IPOs in 2015 drops following Chinese stock market crash October 8, 2015 Flotations on Europe’s stock markets raised 30 per cent less money in the third quarter than the same time last year, according to PwC, although the accountancy firm predicts a pick-up in activity before the year-end. China’s August stock market crash sent jitters across the globe, prompted businesses to put their listing plans on ice, [...]
Economists urge Bank of England to postpone interest rate rise October 8, 2015 City PM’s panel of economists urged the UK’s rate-setters to keep interest rates at their record low of 0.5 per cent this month, as the global economy slows and inflation remains well below its two per cent target. Professor Steve Keen, head of the school of economics, history and politics at London’s Kingston University, [...]
Hays share price drops as weak euro and Australian dollar hit profit October 8, 2015 A positive boost from the UK’s strong jobs market was not enough to offset the negative impact of a weak euro for recruiter Hays, it said this morning, pushing its share price down 6.7 per cent. The FTSE 250 professional recruiter reported profit growth of three per cent in the three months ending 30 September, compared with the same [...]
Tottenham , Dartmouth and Folkestone: These are Britain’s high street rising stars October 8, 2015 Tottenham has been crowned one of the country’s “rising stars” as part of a competition to find the best high streets in Britain. The gritty north London suburb, which has been trying to shake off its recent history of violence and riots, was one of 10 high streets that came runner-up after missing out on [...]
Forget Deutsche Bank losses – outlook for German banks has improved, says Moody’s October 8, 2015 Moody’s has upgraded the outlook for Germany’s banking system from negative to stable – despite its biggest bank, Deutsche Bank, saying last night that it will lose over €6.2bn (£4.6bn) in the third quarter. The ratings agency said the move “reflects the removal of uncertainty surrounding government support following the introduction of a banking resolution framework in the country. [...]
Germany exports suffer sharpest drop in six years October 8, 2015 German exports plummeted by 5.2 per cent in August compared with July, the sharpest monthly decline since January 2009, data released this morning reveals. While no country breakdown is given, economists say the weakness is likely due to a slowdown in emerging markets, after factory orders published yesterday showed a contraction in non-Eurozone foreign orders. [...]
Deutsche Bank’s share price rises despite warning of huge quarterly loss and reduced dividend payment October 8, 2015 Deutsche Bank's share price has gone up despite this morning's warning to investors that it expects to post a €6.2bn (£4.5bn) loss in its third quarter results. Germany's biggest bank said its dividend payment for the full year could be reduced or suspended, as write-downs at its corporate banking unit take their toll. Along with difficulties at [...]
Volkswagen share price rises as US boss Michael Horn admits he knew about “emissions non-compliance” last year October 8, 2015 Michael Horn, the head of Volkswagon in the US, has admitted he was made aware of “possible emissions non-compliance” by the company last year. In a testimony due to be presented to a panel of investigators at the House of Representatives today, Horn said the possibility was highlighted to him in a West Virginia University study [...]
Investment Association boss Daniel Godfrey’s exit raises questions for funds October 7, 2015 Hold On To Your Friends, Lost, I Don’t Mind If You Forget Me: all hits of Morrissey, The Smiths vocalist. They are also song titles which might resonate with Helena – a better-known Morrissey in the City – whose roles include the chairmanship of The Investment Association. Some members of the fund managers’ trade [...]
