London house prices: The property rental market is being haunted by ghost-listings October 15, 2015 The crazy London property market has created another spectre that will leave renters with a chill down their spine. The letting market is being haunted by ghost-listings – ads for properties to rent that don't really exist. Eerily reminiscent of ghost gazumping which plagued house buyers last year, some estate agents (as if they weren't despised enough) are listing details of properties they've nicked [...]
London house prices might be mind-boggling for renters and young buyers, but it’s forcing creative solutions to the problem like never before October 15, 2015 This month, Daniel Radcliffe reportedly put his New York apartment up for rent at an eye-watering price of $19,000 (£12,500) per month. But now you can live the real “Harry Potter” lifestyle for a snip of the cost after an eager London renter in search of a new home tweeted a ‘room’ that was available to rent [...]
US inflation rate drops to zero in September but core inflation is nearly on target October 15, 2015 Annual inflation in the US dropped to zero per cent last month from 0.2 per cent in August, weighed down by cheap fuel, according to figures released today by the Bureau for Labor Statistics. The consumer price index (CPI) – the basket of goods and services used to measure inflation – fell 0.2 per cent from [...]
Adam Posen, Simon Wren-Lewis and Lord John McFall to join former rate-setter Danny Blanchflower on Labour committee reviewing the Bank of England’s remit October 15, 2015 Labour economic adviser David "Danny" Blanchflower will be joined by US economist Adam Posen, Oxford professor Simon Wren-Lewis, and former Treasury Select Committee chair Lord John McFall, to develop proposals for a change to Bank of England’s remit. The Bank currently adjusts interest rates to ensure inflation will be two per cent over a two-year horizon. Read more: Blanchflower [...]
London house prices: Prime central property prices will drop this year, but the cool-down won’t last long, says Savills October 15, 2015 The price of London’s prime property will decline in price this year on the back of last 2015's stamp duty reforms, but they will climb by a whopping 21.5 per cent over the next five years, an estate agent has predicted. Prime central London property prices, which average at around £5m, will drop two per cent this [...]
Retailers face £25.6m in extra costs from National Living Wage – PwC October 15, 2015 Large retailers could see their wage bills increase, on average, by £25.6m by 2020 due to the new National Living Wage (NLW), according to a new report out today from PwC. PwC polled more than 100 businesses with an average of 11,000 employees, finding that firms expect to pay, on average, an extra £1.6m in [...]
Drop in Eurozone industrial production points to lack of momentum in the economic growth October 14, 2015 Industrial production in the Eurozone took a breather in August as it failed to add momentum to its lacklustre recovery. Industrial production – which includes manufacturing, mining and energy production – dropped 0.5 per cent in August compared with July, according to data published by European statistical office Eurostat this morning. Of the big four [...]
Virtually flat US retail sales back case for delaying 2015 Fed interest rate hike, say economists October 14, 2015 US retailers sold $447.7bn (£290.1bn) of goods last month, hardly posting a rise compared with August as falling gasoline prices weighed on revenues at petrol stations. Retail sales climbed by 0.1 per cent on the month in September, according to figures released today by the US Census Bureau. The sales figure also marks a 2.4 per [...]
App developers in line for hefty pay rise next year as “war for talent” lifts professional Londoners’ salaries, says recruiter Robert Half October 14, 2015 London’s professional workers will get a bumper pay rise next year, despite the lowest rates of inflation in half a century, a recruiter is predicting. Average pay for professional roles in finance and accounting, financial services, IT and administration will rise by three per cent in 2016, Robert Half said today. Exclusive London figures given [...]
UK businesses hit record high – with small and medium-sized businesses playing a bigger part October 14, 2015 The number of businesses in the UK has hit a new record high, as government figures published today put the number of private sector firms at 5.4m. Breaking this down by business size reveals that small and medium-sized businesses account for almost half of generated turnover – and three fifths of all people employed. Small businesses, [...]