Families are expected to hand a record £9.2 billion this year to relatives to help them to buy a home as rising rents and more expensive mortgages push up the barriers to property ownership. It is a sharp rise from the £8.1 billion gifted by parents, grandparents and other relations last year and will take…
It was once the height of fashion with both shoppers and investors, but Burberry’s fall from financial grace has been confirmed with the news that the British luxury brand is about to check out of the FTSE 100. Shares in Burberry have fallen by almost a third in the past three months, valuing the company…
Nvidia failed to impress Wall Street with a higher-than-expected third-quarter revenue forecast based on demand for its artificial intelligence chips. The chip designer, which is at the centre of the AI frenzy, reported record second-quarter sales of $30.04 billion, up 122 per cent on the previous year and ahead of analyst estimates of $28.6 billion….
The German economy is at risk of slipping back into recession after growth contracted in the second quarter and measures of consumer confidence continue to fall. Official figures from Destatis, Germany’s statistics office, confirmed a 0.1 per cent decline in GDP between April and June this year, defying economists’ expectations of an upward revision. Another…
Kamala Harris and Donald Trump are in a fierce competition to turn a generally well-performing economy into a basket case. Harris favours price controls to end corporate greed, and massive subsidies for favoured sectors and favoured groups. Her ambitious spending plans are to be financed by raising taxes on evil, price-gouging corporations and the rich…
California’s citizens are used to self-driving cars, which have done millions of miles in trials. While progress has been far from smooth, it seems only a matter of time before the industry also picks up speed in the UK. The UK government expects that the self-driving technology industry will be worth up to £42 billion…
Victoria Beckham’s fashion empire is on course to bank a profit this year having been supported by the family’s other, more lucrative, income streams for a decade. Sales at Victoria Beckham Ltd, which the pop star-turned-fashion designer set up in 2008 while her husband, David, was playing for LA Galaxy, rose 52 per cent last…
A British driverless car company has received a significant vote of confidence in the form of an investment by Uber. Wayve, one of London’s leading artificial intelligence start-ups, announced the funding, which is understood to be less than $100 million, alongside a “partnership” with the American powerhouse that aims to get their technology taken on…
It was one of the more notorious quotes heard from a senior banker in a court of law. “None of us wants to go to jail here … the food sucks and the sex is worse.” So quipped Tom Kalaris, the former head of wealth at Barclays and a key figure in the bank’s plans…