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Affordability warning as house price growth hits ‘highest level since 2004’
Deposit affordability is facing a squeeze as the annual rate of house price growth hit its highest level since November 2004, according to a report.Nationwide’s monthly market study pointed to a 13.4% surge in the average cost of a home over the 12 months to June – partly a result of a low base for …
Business
Evening Standard
FTSE 100 to open flat amid rising concerns over the Covid Delta variant
The FTSE 100 Index was set for a subdued start today with all eyes likely to be on travel stocks again following increasing European curbs on UKtravellers due to Covid’s spread here.Sharp increases in cases of the Delta variant of the coronavirus, particularly in the North of England, have led EU leaders to call for …
Business
Sky News
Employers facing ‘perfect storm’ of staff shortages as economy reopens, says CBI chief
Industries from haulage to hospitality are facing a “perfect storm” of issues creating staff shortages as the economy reopens, the president of the CBI is warning.Lord Bilimoria said the departure of overseas workers during the pandemic, who have not since returned, was among the factors causing headaches for employers. He also said there was a …
Business
Evening Standard
Entrepreneurs: Meet the couple championing ‘clinical exercise’ for fit people
Have you ever attempted to lift weights and ended up knackering your back? Or done in your knee after taking up running, with no idea why? Or are you just a bit unfit and unsure of what you should try out exercise-wise?If so, you are one of the people Joseph and Carrie Lawrence of Parsons …
Business
Sky News
WeWork rival IWG has £4bn bid talks with CC Capital
IWG, the world’s largest serviced office group and rival to WeWork, has been in secret talks about a potential takeover offer that could value the company at more than £4bn.Sky News has learnt that CC Capital, a New York-based private equity firm, has held discussions with Regus-owner IWG about a prospective bid in the last …
Business
Evening Standard
Burberry faces takeover threat after failed succession plan for Gobbetti
Marco Gobbetti’s reign at Burberry came straight out of the luxury goods playbook: forget about us ordinary folks and ruthlessly target the super-rich.Just as Lawrence Stroll is doing in his turnaround of Aston Martin, Gobbetti took Burberry relentlessly upmarket, taking it towards the realms of Prada and Gucci on the fashionistas’ wish lists.He and designer …
Business
Sky News
Departure of boss who steadied the ship leaves Burberry with sinking feeling
There are several very good reasons why shares of Burberry fell by almost 10% at one point this morning on news Marco Gobbetti is stepping down as chief executive.Firstly, news of his resignation – to become chief executive of Salvatore Ferragamo in his native Italy – was unexpected. Secondly, it is because Mr Gobbetti is …
Business
Sky News
No early release from COVID restrictions, Johnson indicates
Boris Johnson has suggested that there will be no early release from COVID restrictions with 19 July likely to remain the date for Freedom Day.The prime minister’s comments came following talks with new Health Secretary Sajid Javid. During a campaign visit to Johnstone’s Paints Limited in Batley, Mr Johnson said: “I had a good conversation …
Business
Sky News
Nissan UK gigafactory could be announced this week in major commitment to UK
Japanese car giant Nissan could announce plans for a battery gigafactory in the UK as soon as this week, Sky News understands.City editor Mark Kleinman said the carmaker’s electric vehicle strategy, tipped to include production of its Qashqai and Juke models at Sunderland, was also expected to confirm the construction of a battery gigafactory. There …
Business
Business Live
Wiltshire hotel acquired for £5.5m, creating around 30 jobs
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Business
Business Live
Leon to open first drive-thru eatery since acquisition by billionaire brothers
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Business
Business Live
University of Plymouth and Royal Navy partner on marine tech project
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