Odey Asset Management, BlueMountain Capital Management and Anchorage Capital are reported to have shorted the stock of Berkeley Group, the London-focused housebuilder. Fears of global economic meltdown, emerging markets currency falls and the Brexit referendum have led some investors to bet the demand for the top end of the housing market in London will collapse.
THIS IS MONEY'S SIX OF THE BEST
Keep calm and carry on? Where fund managers are looking for unloved bargains in the stock market storm
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The real cost of buying a home: the essential guide to help first-time buyers
Checklist to get ahead
Sponsored - 'Insurer rejected my claim for a brain tumour': So Legal & General, what's stopping you paying up this time? L&G; claim Ruth Dunn withheld info.
- Fury as small firms' rates burden soars - outstripping other taxes - and corporation tax take falls by billions The Great Tax Switch...
- 'If I'm paid a good wage cheque, I bank it rather than spend it!' Soap star Gemma Atkinson tells how she saves her TV earnings and invests in property
- Baffled by complex internet and phone offers when you try to switch? Don't worry, confusing ads may soon be...BroadBANNED!
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- What a pig's ear this Government is making of pensions - tin hats ready... we're doomed! JEFF PRESTRIDGE
- That old vinyl record collection gathering dust in your attic? It could be music to your ears as some discs now sell for hundreds of pounds...
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- In two decades it's gone from an also-ran to one of the Britain's favourite SUVs, we test Kia's new Sportage RAY MASSEY
- Small firms are tearing their hair out as they are forced to offer all staff a pension SIMON WATKINS
BUSINESS, CITY & MARKETS
FTSE LIVE: Footsie sees modest rally thanks to firmer oil price despite big falls overnight by US, Asian stocks
In opening deals, the FTSE 100 index was up 32.3 points, or 0.6 per cent at 5,721.7, having closed nearly 3 per cent, or 158.7 points lower yesterday led by a dive in banking stocks, to take its losses since the start of the year to nearly 10 per cent. Overnight Wall Street pared its steep early lows losses but still ended deep in the red, with the blue chip Dow Jones Industrial Average losing 1.1 per cent, and the broader S&P; 500 index down 1.4 per cent.
SAVE MONEY, MAKE MONEY: THE BEST RATES, DEALS AND TIPS THAT CAN MAKE YOUR RICHER
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Ten tips to find the cheapest and best cover - plus compare quotes in minutes -
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MONEY NEWS & ADVICE
From writing on bank notes to hanging washing and being drunk in charge of a cow: Seven obscure laws that could cost you dear if you fall foul
Since King John signed the Magna Carta back in 1215 all manner of laws have slipped onto the statute books. Some are good, others less so, and then there are the downright peculiar. Lurking out there are plenty of obscure laws that could cost you money thanks to a fine or affect you as a consumer, but seem unlikely to ever be enforced.
Are you missing out on your work's perks? From life insurance to help with buying a home, your job could give more than just a salary and pension
With pay rises expected to stall at just two per cent for the third year in a row in 2016, it is time to squeeze extra value from your workplace perks. Rachel Webster (pictured) cashed in a special work savings pot in May and with the proceeds could afford the down payment on a three-bedroom terraced home.
That old vinyl collection gathering dust in your attic? It could be music to your ears as some records sell for hundreds of pounds
Our renewed love affair with vinyl has created a huge growth in the value of collectable old records. Vinyl records previously viewed as junk quietly gathering dust in the attic or at the back of garages are now shrewd investments worth hundreds of pounds. Brigid Harrison-Draper (pictured), a vinyl collector and contributor to magazine Record Collector, says: 'There is no substitute for vinyl.
The Great Tax Switch: Fury as small firms' rates burden soars - outstripping other taxes - and corporation tax take falls by billions
Small and medium-sized companies are struggling to survive under the burden of a huge rise in business rates while the Treasury's income from corporation tax has fallen, according to the Confederation of British Industry. The organisation representing bosses has urged Chancellor George Osborne to reform business rates in his imminent Budget - due in just over a month's time - and has called on him to scrap the tax altogether for more than a million small firms.
If my father-in-law gifts me £25k but dies within seven years will I have to pay inheritance tax?
Philip Scott for This is Money says: Under the current rules people can give money or other assets to family members, or anybody else who is not a spouse or civil partner, and - on the basis that the person giving the cash, does not benefit from it - the amount of cash will only be included in the donor's estate for inheritance tax purpose for seven years. From year three onwards the amount of the gift liable to inheritance tax reduces until it is completely out of the donor's estate after seven years.
MORE BUSINESS, CITY AND ECONOMY NEWS
Red Arrows pilots fighting defence giants: The small firms founded by former RAF flyers landing big government contracts
In the modern Armed Forces, regular troops and reservists carry out their roles alongside civil servants and civilians - and more of these jobs are now being handled by contractors. And whereas the old military was supported by a small club of large quoted defence companies - so-called prime contractors such as BAE Systems - today the upstarts are nibbling away at the big boys' market share.
YOUR MONEY ESSENTIALS
Baffled by complex internet and phone offers when you try to switch? Don't worry, confusing ads may soon be...BroadBANNED!
Millions of household bill-payers are routinely bamboozled by 'confusion pricing' used to promote broadband deals. But media watchdogs are gearing up to scrap the practice. Burying landline rental fees in contract small print often baffles customers, according to new research. Self-employed audio transcriber Lisette Davidson (pictured) is reluctant to switch broadband provider because she feels the process of comparing deals is deliberately puzzling.
MIDAS SHARE TIPS: Penna Consulting's on the march... as it helps firms hire and fire
The company made its name as an adviser to firms with big redundancy programmes, helping staff to find other jobs or, at the very least, leave with dignity. Over the past two to three years, however, it has branched into specialised recruitment and training. It is also helping the Metropolitan Police create a more ethnically diverse workforce.
INVESTMENT EXTRA: The UK stock market has had a tough start to 2016 - but you can profit from the bank share plunge
Historically banks were a popular investment with savers. They were strong, FTSE 100 companies that made large profits and paid a reliable dividend. The financial crisis changed that. But for those who believe the banks have cleaned up their acts, now may be the time to heed that old advice of buying when people are fearful and take advantage of cheaper share prices.
Squeezed out by house prices in the capital? Then look at property in more affordable London commuter towns like Chelmsford, Bedford and Rochester...
Those looking to join the exodus are finding that many traditional commuter towns have seen their own surge in prices as the ripple effect works its way outwards from central London. So where should people look to buy within commuting distance of London, but ruling out hotspots such as Oxford, Winchester and Banbury, where prices are sky-high?
Glimmer of hope for 550,000 expats on frozen state pensions: Retirees penalised by 'lottery' rules resting on where they move
More than half of the one million pensioners living abroad don't receive annual increases in their state payouts. That means someone who retired when the basic rate was £67.50 a week in 2000 would still get that, rather than the £115.95 now received by everyone else. But whether an expat's pension is frozen or not depends entirely on where they move to, because the Government has struck individual deals with some countries but left around 150 others out in the cold.
Britain's best savers revealed: Londoners put away over £1,000 a month - four times as much as those in the North East
Savers in Wales take second spot in the savings rankings, with £671 per person being put away each month - though this is just over half of what savers in London put away. Regular savers in Wales and Yorkshire and Humber are outdoing those in the South East as a whole, the survey from challenger bank Charter Savings Bank revealed.
Owners rush to cash in on properties' rising values, but what's the best way to release equity and fund home improvements?
A rush of homeowners are cashing in some of their property's value to fund extensions and home improvements rather than move house, experts suggest. But while the sums taken out may be relatively small compared to the value of properties, working out the best way to do it is still vitally important. We take a look at the options available to borrowers.
Could an average earner buy a home in your area? Interactive map reveals where workers can still afford to buy - and solo buyers are priced out of 95% of all regions
Potential homebuyers looking to snap up a property solo while earning a median wage in are unlikely to be able to get onto the ladder, research from Savills shows. A median priced property is now no longer affordable for median-earning solo buyers in 95 per cent of local authorities across England and Wales, Savills says.
Think you are safe online? We watch a 'live hack' showing the terrifying ease with which accounts are breached - and reveal the biggest password mistakes
This is Money watched 'ethical hacker' Mustafa Al-Bassam demonstrate just how much at risk internet users are - especially those reusing weak passwords for a number of websites. It comes as 98.8% of us use the top 10,000 passwords currently in use in the world - with 4.7% using the password: password.
SMALL BUSINESS: NEWS, TIPS AND SUCCESS STORIES
TOWIE's Lauren Pope reveals her start-up secrets: 'Leaving the show is a massive step - but I have to do it for the sake of my business'
Reality TV star and model Lauren Pope has become a successful beauty entrepreneur with her range of hair extensions. She says it was hard to convince people she was more than just a pretty face and that the company was really hers. The hard work involved building up her business is the reason she's quitting Towie.
GUIDES: HOW TO SAVE MONEY AND MAKE MONEY
WHAT NEXT FOR YOUR MONEY?
50 ways to save money: Simple steps to cut what you spend that could clear your debts or seriously boost your savings
To clear the average national household debt of ?13,000 at 6% interest with a monthly repayment of ?100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious.
When will interest rates rise? Bank's lone wolf ends his hike calls, as outlook for a rise drifts to 2017
Interest rates are set to remain at their record lows well into 2017, commentators suggested after the Bank of England held rates by a vote of 9-0 and lowered its growth forecasts. The quarterly inflation report said that outlook for global growth had weakened further since the previous report in November and that the latest data suggest a softer picture for UK activity in 2015 than previously assumed.
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Best paid jobs 2015: Compare your salary to the national average in this league table of 350 professions - and see the year's winners and losers
Musicians have seen pay rises averaging nearly 20 per cent in 2015, while cleaners are getting 17.8 per cent more, and window cleaners 12.3 per cent. Artists in general are earning 14.6 per cent more in 2015 than 2014, according to the huge annual data dump of pay scales by the Office For National Statistics highlights.
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Premium Bonds winners
Prize value | Winning bond No. | Area |
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£1,000,000 | 98DC258404 | Nottingham |
£1,000,000 | 241QQ814726 | Wales |
£100,000 | 211GQ302543 | Kent |
£100,000 | 170MT779070 | Hampshire and Isle of Wight |
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£100,000 | 128MT882542 | Southampton |
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£50,000 | 54XY208864 | Manchester |
£50,000 | 38QX658778 | Greater Manchester |
£50,000 | 261SV569145 | North East Scotland |
£50,000 | 251VY927696 | Inner London |
MOST READ MONEY
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Sponsored - Glimmer of hope for 550,000 expats on frozen state pensions Retirees penalised by 'lottery' rules resting on where they move.
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- Warning over the rip-off holiday websites that advertise dream deals that don't exist... ...and hike prices by 30% when you try to pay
- Victory as Royal Mint accepts commemorative coins back from buyers worried they were misled over legal tender But boss shirks our interview request
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- Struggling UK economy means Chancellor 'won't be able to fulfill promise to balance the books by 2019' Tough task
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- Cherie Blair steps into landlord mortgage tax relief battle... on human rights angle Her legal firm fights changes
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- Put through its paces early: A sneak test of Jaguar's highly-anticipated F-Pace SUV hits showrooms in April
- Do markets know something we don't? Investors must stop panicking over every blip... STEPHANIE FLANDERS.
- Dozens of Aga buyers left in limbo as independent retailer selling the £10k-plus posh cookers goes bust
- Buy-to-let landlords must check the immigration status of new tenants from today or face fines of up to £3,000
- Tesco to slash pay for staff working Sundays, late nights and overtime as it ramps up drive to cut costs
- How to invest for the falling oil price and rising power of the consumer MAIKE CURRIE taps into a major theme for 2016.
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- The best Help to Buy London mortgage rates to boost your 5% deposit and climb on the capital's property ladder
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MIDAS SHARE TIPS
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- MIDAS SHARE TIPS: High-tech machine maker Somero Enterprise doing its level best for the construction industry
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- MIDAS SHARE TIPS: Solar energy storage firm REDT inspired by Nasa is powering up on production of its battery units
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FUND AND TRUST IDEAS
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- ABERFORTH SMALLER COMPANIES: Silence is golden for trust that lets numbers do the talking
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Latest: Mortgages & home
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Latest from Saving & banking
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ANSWERS FROM THE Experts
- Will the taxman take the strain?
- Capital idea
- Pensions and inheritance tax
- Insult to injury
- TONY HETHERINGTON: Here’s the REAL picture about ‘buy to let’ art from Art Investment Management Limited
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Latest from Holidays
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Currency | Rate | Buy now |
---|---|---|
Updated 09 Feb 2016. | ||
Euro | 1.2629 | Buy Now |
US Dollar | 1.4137 | Buy Now |
Australian Dollar | 1.9852 | Buy Now |
Canadian Dollar | 1.959 | Buy Now |
Chinese Yuan | 9.0907 | Buy Now |
Croatian Kuna | 9.4985 | Buy Now |
Czech Koruna | 33.682 | Buy Now |
Danish Krone | 9.2901 | Buy Now |
Egyptian Pound | 9.8169 | Buy Now |
Hong Kong Dollar | 10.909 | Buy Now |
Hungarian Forint | 384.5 | Buy Now |
Israeli New Shekel | 5.3554 | Buy Now |
Japanese Yen | 161.61 | Buy Now |
Malaysian Ringgit | 6.2624 | Buy Now |
New Turkish Lire | 4.0656 | Buy Now |
New Zealand Dollar | 2.1238 | Buy Now |
Norwegian Krone | 11.983 | Buy Now |
Polish Zloty | 5.5255 | Buy Now |
Singapore Dollar | 1.9669 | Buy Now |
South African Rand | 22.643 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Krona | 11.784 | Buy Now |
Swiss Franc | 1.3822 | Buy Now |
Thai Baht | 49.07 | Buy Now |
UAE Dirham | 5.158 | Buy Now |
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Latest from Cards & loans
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Latest from Investing
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Latest: money and Cars
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Latest from Markets
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- MARKET REPORT: Gold glistens again as traders panic helping specialist mining firms Randgold Resources and Fresnillo finish top of the FTSE
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- World's largest concrete maker Aggregate fights back after small business group claims it 'takes 93 days to pay its bills'
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TOP CALCULATORS
- This is Money's calculators and tools All our calculators in one place. See how they could help you
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- Monthly or lump sum savings calculator How much a regular monthly savings scheme could make or a lump sum could be worth.