Market Buzz
Tuesday newspaper round-up: Rents, EU-US trade, tourism, gas
Average UK rents have fallen for the first time in more than seven years, with London seeing the biggest decline, according to new data. The slowdown in the rental sector mirrors a similar picture in the housing market, with figures showing that property prices have fallen for the third month in a row. - Guardian.
Monday newspaper round-up: Rate sensitivity, manufacturers, cars, sugar war
One in 25 businesses, or nearly 80,000 enterprises, would struggle to handle an increase in interest rates of as little as a quarter of a percentage point, according to research by the insolvency trade body, in the clearest sign yet of the fragile state of corporate balance sheets. It is thought that some 79,000 businesses would be unable to repay their debts if rates were to rise, four times as many as in September when the Association of Business Recovery Professionals, or R3 as it is known, conducted a similar survey.
Sunday newspaper round-up: Tesco, RBS, Ocado, Aramco, Wood Group
After a terrorist attack on London Bridge where seven people were killed, over 40 injured and three attackers shot deal, campaigning in the general election was halted for the second time since the vote was called in April, adding further uncertainty to a race that already had become increasingly hard to call. While local work such as leafleting would continue, the Conservatives said they have decided not to campaign nationally on Sunday, while Labour said the party would resume campaigning on Sunday evening as delay any longer would disrupt the democratic process.
Friday newspaper round-up: Tax evasion, M&S, BoE
The richest 0. 01% of households, involving those with more than £31m assets, evade paying 30% of their taxes on average, according to an academic study of tax evasion based on data revealed in the Panama Papers and the leaks concerning the HSBC Swiss private bank. Economists, who matched people named in the leaks with public wealth records, found that “the probability to hide assets rises very sharply with wealth”. The paper found that the super-rich evaded more than 10 times as much of their due taxes as the wider population, which on average evaded 2%.
Thursday newspaper round-up: BA, Deliveroo, UK growth, AkzoNobel
The IT shutdown that led to chaos for British Airways was caused by an “uncontrolled return of power” following an outage that physically damaged servers at its data centre, the airline has said. About 75,000 passengers were affected as flights were cancelled following the incident on Saturday morning. The carrier was unable to resume a full schedule until Tuesday and many passengers are still without their luggage. – Guardian.