What to expect from Sir Philip Green’s appearance before MPs tomorrow June 14, 2016 The day is almost here… Sir Philip Green himself will (probably) make his appearance in front of MPs tomorrow to explain his part in the sale of BHS. So far there have been allegations of death threats, tantrums, and dramatic confrontations in hotel lobbies. As David Buik, market commentator for Panmure Gordan & Company, put it: "Wednesday’s testimony [...]
House prices remained buoyant in April despite Brexit backdrop, and yes, you guessed it: London property is still hideously expensive June 14, 2016 UK average house prices continued to grow in April according to the latest ONS house price index. Any Brexit jitters failed to impact the market, as prices increased by 8.2 per cent in the year to April, following the trend marked out since the end of 2013. Read more: No, Brexit won't hit house prices – here's why [...]
Ashtead Group’s share price is on the up, building on a set of good results June 14, 2016 Ashtead's share price was on the up in morning trading after the construction equipment provider announced a set of strong results. The figures Ashtead's rental revenue for the year grew 17 per cent. There was also double-digit growth for the company's pre-tax profit, up 24 per cent to £645m, from £490m in 2015. This year the company invested £1.2bn [...]
Ted Baker’s online strategy is paying off as high-street footfall falters June 14, 2016 Ted Baker celebrated an impressive revenue growth today after a year of expansion in e-commerce. The figures In its trading update this morning, Ted Baker reported an 11.3 per cent increase in revenue for the 19 weeks between 31 January and 11 June 2016. Compared to the same period last year, retail sales were up [...]
Housebuilder Crest Nicholson’s shares fall – despite rebuffing Brexit blues June 14, 2016 Nothing can dampen the profits of a housebuilder, not even Brexit – housebuilder Crest Nicholson this morning posted healthy results despite the uncertainty about the outcome of the UK's upcoming referendum. The figures In its half-year report this morning, Crest Nicholson announced pre-tax profits at the firm were up 26 per cent in the six months [...]
Standard Chartered boss speaks out about anger over “cancer” of bad behaviour June 14, 2016 Standard Chartered's chief executive has attacked the "cancer" of weak controls at the bank, which he says is the reason for misconduct among senior staff. Bill Winters gave an "angry" talk to Standard Chartered's 1,500 high-ranking managers since taking the helm a year ago and has sent staff memos slamming inordinate expenses and inappropriate financial [...]
These are the top concerns for UK landlords (Brexit is pretty low down) June 13, 2016 As everyone else bites their nails over the EU referendum, the outcome of the big vote has only just made it into the list of the top concerns of UK landlords. Instead, their top worry is the exemption of residential property from the new capital gains tax cuts, according to a survey by Amicus Property Finance. Read more: Brits [...]
Brits fear their house price won’t recover for five years if the UK votes to leave the EU June 13, 2016 As the EU referendum looms and the nation worries about everything from immigration to the economy, it emerged today that the public is worrying about the price of their home too. Research from Wellesley Finance showed that 61 per cent of Britons who think their house price will drop if Britain leaves the EU worry [...]
Shoppers beat the Brexit blues to hit the high street as footfall increased slightly in May June 13, 2016 As the battle over the fate of BHS continues, the high street bounced back slightly in May as footfall figures increased year-on-year, new figures have shown. Despite a backdrop of retail failures towards the end of May and beginning of June, with Austin Reed shutting up its shops and BHS being "wound down", total retail footfall was [...]
UK faces net migration of over a quarter of a million if it stays in EU, according to Migration Watch June 13, 2016 Britain will face annual net migration of over a quarter of a million for the next twenty years if the country remains in the EU, according to a report from Migration Watch released today. The report describes its findings as a "cautious estimate", saying that net migration could be 265,000 in 2035. Sixty per cent [...]
