Wednesday newspaper round-up: UK property market, North-South divide, Bitcoin

The UK’s property market will take this week’s expected rise in interest rates in its stride, according to ratings agency Moody’s, but it warned that the outlook for the buy-to-let market has worsened significantly. The agency, which along with Standard & Poor’s was widely condemned for awarding triple-A ratings to sub-prime mortgage books before the 2008 financial crisis, said the British property market is more resilient than is widely believed. – Guardian

Britain’s north-south divide should be tackled by a government pledge in its new industrial strategy to provide every citizen with decent transport, schools, hospitals and digital access, an expert body says. The independent industrial strategy commission on Wednesday urged ministers to tackle Britain’s regional imbalances by committing to universal basic infrastructure – a guaranteed standard for the whole of the UK. – Guardian

Fast-growing fintech company MarketInvoice is launching a business lending service, after advancing over £1.6bn to UK firms through invoice finance over the past six years. Anil Stocker, chief executive and co-founder of MarketInvoice, told The Daily Telegraph that the firm wanted to lend over £100m to companies within two years. - Telegraph

Britain’s economy will grow only slowly for the foreseeable future as weak productivity dents the UK’s prospects, a top economic think-tank has warned. Philip Hammond, the Chancellor, has only limited wiggle room in his November Budget as a result, because sluggish growth will be bad for tax revenues in the years to come. – Telegraph

Manufacturers are demanding tougher controls over foreign takeovers after the acquisition of one of Britain’s most promising technology companies. The EEF, which represents 20,000 companies, said that an independent panel should be established to consider the wider impact of takeovers, such as changes to supply chains and the loss of technological prowess, when deciding the potential benefits. – The Times

Bitcoin surged past $6,400 for the first time yesterday as an American derivatives exchange announced plans to sell futures contracts for the digital currency. The plans, announced by CME Group, would allow investors to trade in bitcoin in the same way that they trade in gold, oil and other assets that use futures. – The Times