Lack of London office space drives a 24 per cent increase in office construction May 19, 2015 The amount of office space under construction in London rose by 24 per cent in the six months to the end of March, rising to 9.5m square feet. A report by Deloitte shows the improving economy is driving a rise in speculative building, with more and more office space available to let. A dearth of [...]
UK house prices: Scotland’s growth at its highest since 2007 as prices accelerate May 19, 2015 The UK’s house price growth rose to 9.6 per cent for the year to March, with Scotland the east of England and London driving the rise. The figures The 9.6 per cent rise in the UK for the year to March was 1.2 percentage points higher than the 7.4 per cent recorded in February. The [...]
The UK in deflation: 33 charts showing how UK inflation rate compares to every inflation rate in every EU country May 19, 2015 The UK officially entered deflation today: prices shrank by 0.1 per cent in the 12 months to April 2015 – the first time it's dipped into negative territory since the 1960s. Read more: Inflation turns negative for the first time in over 50 years – but it should only be a blip The fall was caused by dropping energy [...]
Wonga revamp adds money-back guarantee, ditches puppets – and aims new products at “hard working people” May 19, 2015 Wonga’s re-brand is here: the payday lender is to roll out new television adverts aimed at its new middle-class target base. It is also offering a money-back guarantee as part of an image revamp aimed at repairing the reputation damage it suffered during a tumultuous 2014. It will keep the Wonga name, despite speculation about [...]
Urban Outfitters share price drops 14 per cent on disappointing earnings May 18, 2015 Investors in Urban Outfitters received bad news this evening when disappointing results sent the trendy retailer’s share price plummeted 13.9 per cent in after-hours trading. The figures For the three months to 30 April, Urban Outfitters reported net income of $32.8m (£21m, or 25 cents a share) from $37.5m (26 cents a share) for the [...]
Banco Sabadell to buy TSB: European Commission gives deal the green light May 18, 2015 Spanish lender Banco Sabadell has got the go-ahead from the European Commission (EC) to buy TSB for £1.7bn. The EC said that ot saw no competition issues arising, due to the market share of the new company. The sale of TSB was initiated by the EC itself last year after, when it ordered Lloyds to [...]
Charlton fire brought under control: Smoke from warehouse blaze could be seen for miles around May 18, 2015 A huge fire that broke out at a food distribution warehouse in Charlton, south London, has been brought under control according to the London Fire Brigade (LFB). The fire engulfed a row of six lorries and left four patients suffering from smoke inhalation. The LFB recommended that residents nearby close all doors and windows as [...]
Unite leader Len McClusky tells Labour to be the voice of the workers May 17, 2015 As Labour struggles with its identity and future after a brutal general election defeat, it’s relationship with the trades unions is coming under increasing pressure. Len McClusky, the leader of union Unite, said in an interview with the BBC that Unite could reconsider its relationship with Labour if the party does not demonstrate its dedication [...]
Whitehall could face 100,000 more job losses as chancellor George Osborne looks to balance the books May 17, 2015 Whitehall could lose up to 100,000 jobs during the next parliament, as part of government targets to wipe £10bn from the civil service's budget by 2020. The £10bn target represents a third of the total needed to be cut from government spending, if the Conservatives are to eliminate the budget deficit by the end of [...]
Cranes, planes, urns and eight ice-hocky goals: Six times Vladimir Putin has played the all-Russian action hero May 17, 2015 Vladimir Putin is the king (or perhaps tsar) of the publicity stunt. Not content with annexing such macho activities as hunting on horseback, fishing, and archaeology Putin took to the ice to score a devastating eight goals in an ice hockey match involving ex-NHL legends. Putin was, of course, on the winning side in the [...]
