Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Mortgage lending rebounds in June thanks to first-time buyers: Mortgage lending rebounded in June after first-time buyers returned to the property market, according to an industry report.
Bank of England to examine whether financial reforms have held back growth: Mark Carney has told the government that the Bank of England is to examine whether policies intended to strengthen financial stability in the economy have held back economic growth
Homeowners in frantic race to remortgage before rates go up: Remortgaging soared in June as homeowners and landlords raced to lock in low interest rates before the Bank of England increases the cost of borrowing
TPG’s real estate arm snaps up European developer TriGranit: TPG Real Estate is bolstering its presence in central Europe after agreeing to buy Hungary-based property developer TriGranit.
Soaring cost of moving up the property ladder: Home movers paid more than £50,000 extra on average in 2015 to take their next step on the property ladder than they would have done five years ago, a report has found.
Legal & General helps Leeds: Legal & General has launched a £162 million investment in a regeneration project in Leeds to “help bring the Northern Powerhouse to life
Berkeley Founder Tony Pidgley gets £23 million payday – with more to come: Tony Pidgley, the Founder of the housebuilder Berkeley, added fuel to concerns over soaring corporate pay yesterday after landing a huge £23.3 million payday for last year – with the potential for another £26 million bonanza for this year.
Market cries out for more houses to sell: The number of homeowners putting their properties on the market fell dramatically in July, threatening to push up house prices still further.
Peer cashes in on luxury retail’s new domino effect: The peer responsible for bringing Domino’s Pizza to Britain is selling a property in Mayfair to an entrepreneur for £80 million
UK retail sales across all sectors climbed in July Retail sales across all sectors in the UK climbed 1.20% on an annual basis, in July. In the prior month, retail sales across all sectors had registered a rise of 1.80%.
Household raise savings by 400% in 40 years A shift in the attitude to save over the last 40 years has caused a spike in the amount raised across a combination of deposit savings, pensions and shares, which has grown more than sixfold (452%) in real terms. UK household savings are now an estimated £4.1 trillion, up from £744 billion in 1975, but despite the rise, the data suggested that one in three UK households had no savings at all. Savings deposits per household had only risen slightly over the past 10 years, standing at £48,906 today compared with £46,369 in 2005, however, it is more than double that of 1975 when it was £21,070. The report also highlighted that the market value of pensions savings had increased significantly over the past 40 years, as the average rose from £123bn in 1975 to £1,944bn today, showing the sharp change in the importance of saving towards retirement. "The UK savings market has seen a dramatic shift over the last 40 years, with increased retail competition, the rise of digital banking and a greater emphasis on private pensions and "tax free" savings, " said Philip Robinson, savings director at Lloyds Bank. "Despite witnessing three recessions during the period, in addition to rising levels of consumer spending and borrowing, real household savings have grown annually by an average of over 4% and we would expect this to continue over the next few years."
Chinese insurance giant Anbang nears £750 million Heron Tower deal: The Heron Tower in the City that is part-owned by property tycoon Gerald Ronson could soon change hands after a Chinese insurance giant emerged as a frontrunner to buy the skyscraper for £750 million.
Thinktank urges investment in low-wage sectors to raise U.K. productivity: The government must focus on unloved sectors such as hospitality and retail, if it is to tackle Britain’s lamentable productivity record, according to a new analysis by Thinktank the Institute for Public Policy Research
Next rung on housing ladder out of reach: Families face unaffordable mortgage increases if they try to move to bigger homes in the same area, a study has warned.
Brighton rocks as Chinese check in to The Grand: The hotel company that runs the five-star Grand in Brighton has fallen into Chinese hands in a deal estimated to be worth at least £400 million.
L&G pulls the trigger on £1.5 billion investment: Legal & General is close to signing a deal to build 7,000 homes and almost a million square feet of office space on the outskirts of Leeds, pulling the trigger on the Chief Executive’s plan to invest £1.5 billion in infrastructure during the next five years.
UK trade deficit widened in June The UK has posted non-EU trade deficit of £1.62 billion in June, following a revised trade deficit of £1.34 billion in the previous month. Markets were expecting a trade deficit of £2.40 billion. UK visible trade deficit rose in June Visible trade deficit in the UK widened to £9.18 billion in June, compared to a revised visible trade deficit of £8.42 billion in the prior month. Markets were anticipating the nation to record a visible trade deficit of £9.30 billion. UK total trade deficit rose in June Total trade deficit in the UK expanded to £1.60 billion in June, following a revised total trade deficit of £0.88 billion in the prior month. Market expectation was for the country's total trade deficit to expand to £1.70 billion.
Bellway bullish about the future as it hails record year with 13% jump in home sales: Bellway sold a record number of homes last year thanks to low mortgage rates and said that it expected demand to stay strong despite a looming rise in borrowing costs
Expected wage gains of 2.8% to fuel debate on when to raise interest rates: Wages grew by 2.8% in the second quarter compared with the same period last year as the long-awaited recovery in earnings continued.
Tax haul falls as stamp duty rise hits sales of top homes, suggests data: Sweeping changes to stamp duty at the turn of the year have cost the Exchequer hundreds of millions of pounds – and may even have led to less tax being raised from the richest home-buyers.
Average house price rises to 8.8 times local salary in England and Wales: The average home in England and Wales cost a record 8.8 times the typical local salary in 2014, according to analysis by the Office for National Statistics that reveals prices in some areas have reached 20 times local incomes.
U.K. growth slows in July as dominant services sector cools: Growth in Britain’s dominant services sector cooled in July, as employment growth rose at its slowest pace in more than a year, according to a closely watched survey.
Social landlords’ low bond yield fundraising tempers rent cut pain: A group of housing associations has raised hundreds of millions of pounds through a bond issue priced at a record low yield, despite a rent cut imposed by Whitehall.
UK services PMI fell in July The services PMI in the UK eased to 57.40 in July, lower than market expectations of a drop to 58.00. The services PMI had recorded a reading of 58.50 in the prior month.
Mortgage rates start to climb off record lows: Mortgage rates are creeping up, ending years of decline and raising affordability fears for young homeowners.