The UK Financial Services Authority (FSA) have just announced the results of a six month investigation into insider trading - the trading of shares in the knowledge of price sensitive information not yet made public. While the results are not surprising, it is the first time that the FSA have been so strong in their direct condemnation of market participants.
While there are few areas of business that the internet has not touched in some way, the financial sector has benefited more than most from the internet super highway. However, while there are many savings to be made by missing out the “middle man†there are some areas when “savings†are perhaps not as large as advertised.
As the government announce an official investigation into the house building sector, it appears that the buy to let sector may also come under the spot light. The problem with UK property is the fact that the number of new house builds has always seriously lagged behind the increase in demand. This has created a situation with more and more people chasing few and few numbers of houses on a relative basis.
A recent survey has found that a staggering £3.5 billion is being held in homes around the UK, losing an incredible £174 million in interest payments a year. While surveys in the past have uncovered a number of the UK population who have a lack of confidence in banks, like to store money or hide money form the tax man, the figure of £3.5 billion has beaten all expectations.
Over the last decade we have seen massive movements in worldwide stockmarkets, including the technology boom, the Iraq war and various other major incidents around the world. These have all shaped what has been perhaps one of the most volatile periods of recent times. So you think you can still beat the stockmarket?
While it is common knowledge that first time buyers are the life blood of the housing market, there are signs that this stream of business may be drying up - with many being priced out of the market completely.
A report today has shown that on average first time buyers are spending more and more of their monthly income on mortgage repayments, with the figure standing at 18.3% of income in March 2007 (the highest since 1992), against only 16% a year ago. While this may not sound like an awfully large rise, imagine if interest rates rise further (as expected), energy costs rise again and the employment market comes under pressure - the results could be catastrophic!
