A profit warning from Mulberry wiped £187m off the designer’s market value yesterday and sparked a sell-off across the luxury sector as it became the latest brand to highlight weak growth in China. Its sought after ‘It’ bags have failed to lure enough overseas shoppers, while its wholesale shipments slumped 4 per cent, bringing shares down by 24 per cent.
Independent, p. 50 (& everywhere)
Britain’s mortgage market could be about to pick up following Government intervention. The latest figures from the British Banker’s Association reveal mortgage lending is still subdued, but experts say there are signs of increased home loan availability and add that the cost of borrowing is coming down, suggesting the Funding for Lending scheme is beginning to coax lenders into lending again.
Daily Express, p.31
A record £2 billion has been spent on student accommodation in the first nine months of the year. In fifteen months there have been five transactions of more than £100 million, according to the property consultancy CRBE.
The Times, p.42
A country retreat complete with an 18-hole championship golf course has gone on the property market for £3.95 million, making it the only home in the UK to boast a full-size private course within its grounds.
Daily Express, p.27
Recruitment / Employment
Mobile phone group 02 is to help create thousands of work experience placements for young people in a £5m campaign to curb youth unemployment. More than one in five people aged 16 to 24 are out of work, official figures show, with research showing a lack of access to work skills and experience is a major barrier to employment for many of them.
Daily Telegraph, p.B1