Exclusive: Millions of London tenants should brace themselves for rent increase of £1,000+ this year April 27, 2022 Millions of Londoners who currently rent in the capital face an increase in their housing costs of more than £1k this year. As energy bills climb and the cost of living crisis rages, London remains by far the least affordable region of the UK rental market, with the average tenant currently paying £21,140 per year. [...]
Online Harms Bill: Lawyers warn new rules will have ‘chilling effect’ and hit businesses unnecessarily hard April 27, 2022 Broad and far-reaching legislation to tackle online harms could place a major burden on companies, particularly small businesses, lawyers told City PM today. The Government’s Online Harms Bill, published in March, seeks to address illegal and harmful content on the Internet with the aim of safeguarding UK citizens online. Companies that don’t comply with the [...]
Following worse-than-expected Q1 results, where next for the Alphabet share price? April 27, 2022 | City Talk A key beneficiary of the covid-19 pandemic tech stock boom, Alphabet (NASDAQ: GOOGL) shares were changing hands for as much as $2,859 just three weeks ago. But after yesterday’s trading update, they sunk to as low as $2,215 in after-hours trading. Despite recovering to $2,305, worse may yet be to come. The Alphabet share price At first glance, Q1 results were [...]
Brits slash spending in another sign of looming economic woe April 27, 2022 The worsening cost of living shock is prompting Brits to cut back on unnecessary purchases in a further sign the UK economy is headed for a period of worse than expected growth, reveals fresh figures published today. Households are shunning luxury items in response to their living standards suffering a heavy blow from the highest [...]
Sigh of relief in the City as govt calls idea of windfall tax on oil and gas profits ‘disastrous’ April 27, 2022 The Justice Secretary this morning dismissed Labour’s plan for a windfall tax on oil and gas companies to ease the cost-of-living crisis, calling the idea “disastrous”. Dominic Raab told Sky News: “If you look at Labour’s policy, you asked about it – of a windfall tax – that would damage investment in energy supplies we [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 | City Talk The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
1 Minute Market Rundown – 27th April 2022 April 27, 2022 | City Talk Risk Under PressureCrypto ConsolidatesUSD in DemandGoogle Disappoints To say things got ugly yesterday would be a bit of an understatement. Clearly, what goes lower, must go…lower. Stock indices closed the session sharply lower with the S&P taking out support at 4200. US stocks sank to the lowest levels seen in 6 weeks as hopes that [...]
London’s top indexes fail to recover China Covid lockdown triggered losses April 26, 2022 London’s top indexes failed to recover from Monday’s bruising session as investors were still jittery due to concerns over the severity of the impact on the global economy from China sticking to its zero-Covid tolerance policy. London’s premier FTSE 100 index edged 0.08 per cent higher to 7,286.19 points, while the domestically-focused mid-cap FTSE 250 [...]
Global reach of crypto leaves individual regulators powerless, FCA boss warns April 26, 2022 The global reach of cryptocurrencies has left individual regulators unable to shield consumers from mis-sold investments and dodgy products, the chief of the UK’s financial watchdog has warned.
Investors should ditch volatile tech where ‘profitability jars against interest rates’, argues digital health guru April 26, 2022 Much has been made of the current shortage in carers in the UK. The latest ONS data indicates a vacancy rate of 8.2 per cent in the care sector, nearly double the national average, and an overall shortfall of 105,000 workers. Some forecasts even suggests that an additional 627,000 people will be required by 2030 [...]
