Weak demand leaves Asia's factories in doldrums

BEIJING/TOKYO (Reuters) - Factory activity in Asia failed to speed up in May as the region's export-driven businesses struggled for new orders in a slow global economy, surveys released on Wednesday showed.

from Reuters: Top News http://uk.reuters.com/article/uk-global-economy-idUKKCN0YN3FB?feedType=RSS&feedName=topNews

Japan PM's move to delay sales tax rise will fan debt concerns

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe will announce on Wednesday that the government has decided to delay a scheduled sales tax hike by two-and-a-half years, putting his plans for fiscal reforms on the back burner amid more weakness in the economy.

from Reuters: Top News http://uk.reuters.com/article/uk-japan-economy-tax-idUKKCN0YN2W9?feedType=RSS&feedName=topNews

EU hate speech deal shows mounting pressures over internet content blocking

SAN FRANCISCO (Reuters) - An agreement on Tuesday by four major U.S. internet companies to block illegal hate speech from their services in Europe within 24 hours shows the tight corner the companies find themselves in as they face mounting pressure to monitor and control content.

from Reuters: Top News http://uk.reuters.com/article/uk-socialmedia-hatespeech-eu-idUKKCN0YN33G?feedType=RSS&feedName=topNews

Airbus says EgyptAir strengthens case for ejectable 'black boxes'

HAMBURG (Reuters) - The crash of a missing EgyptAir [EGY.UL] jet has strengthened the case for "black boxes" that can pop out of an aircraft before an accident, removing the need for challenging searches on the seabed, Airbus' most senior engineer said on Tuesday.

from Reuters: Top News http://uk.reuters.com/article/uk-egyptair-airplane-airbus-idUKKCN0YM2UR?feedType=RSS&feedName=topNews

Insight - Indian central bank chief wins over Modi despite broad mistrust

NEW DELHI (Reuters) - In late 2014, the knives were out for India's central bank governor Raghuram Rajan.

from Reuters: Top News http://uk.reuters.com/article/uk-india-rajan-insight-idUKKCN0YM2U5?feedType=RSS&feedName=topNews

Brexit camp eye Australian-style immigration system if UK leaves EU

LONDON (Reuters) - Britain would introduce an Australian-style points-based immigration system if it voted to leave the European Union, the Out campaign said on Wednesday, ratcheting up the pressure on a key issue ahead of the June 23 referendum.

from Reuters: Top News http://uk.reuters.com/article/uk-britain-eu-migration-idUKKCN0YM2RO?feedType=RSS&feedName=topNews

Bosses warn of Brexit impact, CBI survey shows outlook slipping

LONDON (Reuters) - The heads of some of Britain's biggest manufacturers warned that leaving the European Union would trigger widescale job losses and a business survey showed the weakest economic outlook in over three years due to uncertainty over the referendum.

from Reuters: Top News http://uk.reuters.com/article/uk-britain-eu-economy-idUKKCN0YM2SB?feedType=RSS&feedName=topNews

U.S. court rules $24.9 billion Dell buyout underpriced by 22 percent

WILMINGTON, Del (Reuters) - Michael Dell and Silver Lake Partners underpriced their 2013 $24.9 billion (£17.1 billion) buyout of Dell Inc [DI.UL] by about 22 percent and may have to pay tens of millions to investors who opposed the deal for the computer maker, a Delaware judge ruled on Tuesday.

from Reuters: Top News http://uk.reuters.com/article/uk-dell-buyout-lawsuit-idUKKCN0YM1WQ?feedType=RSS&feedName=topNews

Netanyahu turns to Arab peace plan to face new challenges

JERUSALEM (Reuters) - Benjamin Netanyahu has turned to a 14-year-old Arab peace plan in trying to project a softer image internationally for a new governing coalition in Israel widely seen as more hardline towards Palestinian statehood.

from Reuters: Top News http://uk.reuters.com/article/uk-israel-palestinians-peace-idUKKCN0YM1GA?feedType=RSS&feedName=topNews

EU cautions governments against banning Uber, Airbnb

BRUSSELS/LONDON (Reuters) - European Union governments should not ban services like home-rental site Airbnb or ride-hailing app Uber except as a last resort, the EU says in new guidelines, seeking to rein in a crackdown on the "sharing economy".

from Reuters: Top News http://uk.reuters.com/article/uk-eu-services-idUKKCN0YM2GY?feedType=RSS&feedName=topNews

Combative Trump says he raised $5.6 million for vets, bashes media

NEW YORK (Reuters) - U.S. Republican presidential candidate Donald Trump on Tuesday detailed $5.6 million (£3.8 million) in contributions he raised for military veterans, and sharply criticized the news media for questioning him for months about what happened to the money.

from Reuters: Top News http://uk.reuters.com/article/uk-usa-election-idUKKCN0YM2GG?feedType=RSS&feedName=topNews

How much can you get for £1 million in Mayfair?

Once upon a time, securing a million-pound property in the luxurious market of Mayfair may well have been a reality – but according to one local expert, the fairy-tale could soon be coming to an end.

Wetherell is a longstanding estate agent serving Mayfair, and first began gathering about residential sales in 1985. Thirty years later in their latest findings, it is revealed that less than 5 per cent of the homes sold in Mayfair have price tags of less than seven figures, and there are now no homes at all for less than £750,000. In fact, 49 percent of the homes sold in the area last year went for a figure between £2 million and £10 million. Add to that the fact that 11 percent of homes went for a sale price above the £10 million mark, and it can be seen that perpetually popular Mayfair is attracting some of the world’s wealthiest property buyers.

Mayfair – London’s trendiest luxury residential market?

Of all the homes sold locally last year, 41 per cent were priced below £2 million, but 95 per cent of these prices fell between the £1 million and £2 million mark.

Of the select few that were priced below £1 million, 60 per cent were priced over £950,000 with just a couple of exceptions making the £750,000 and £950,000 mark. According to Peter Wetherell, CEO of Wetherell, the drop in prices in this bracket signals the extinction of £1 million pound properties in Mayfair. He predicts that the next 12-24 months will see apartments priced below £1 million and houses below £2 million disappear from the market completely, reflecting the continuing upward surge in resi-values in Mayfair. A reflection of both global demand and short supply, and also the large increase in super-luxury apartment schemes being built and sold in Mayfair over the last few years. It is appropriate to believe that Mayfair is the new Knightsbridge, the fashionable place for luxury property.

With nothing below £1 million expected in as little as two years, wealthy buyers would be quick to act now to secure the few properties that remain in the region of this price tag.

Mayfair’s property market holds steady

Mayfair has plenty to attract high net-worth buyers – five star restaurants, shopping, exclusive member’s only clubs and stunning surroundings in the way of Hyde Park. And although “Brexit” fears may have slowed transactions as of late, ultra high net worth buyers are still expressing an interest in this pricey and sought-after market.

There are excellent opportunities for buyers and sellers alike when it comes to well-constructed, historic homes in one of London’s most affluent and desirable neighbourhoods. When comparing transactional data from 2015 and the year prior, it can be seen that the volume of annual sales rose by 8.2 per cent, which is impressive given that the threat of a Labour-imposed Mansion Tax loomed throughout much of this period. Prices also rose by almost 7 per cent, demonstrating that Mayfair’s property market is nothing if not resilient. Looking to the years ahead, Peter Wetherell expects this steadiness to remain: “We may see a slight uplift, but it’s effectively “more of the same”. Supply and sales volumes are less than in past years, but values are stable and rising gradually. Mayfair is like a strong ocean liner sailing in a protected fjord, out in the wider (global) oceans things might be turbulent and stormy, but protected within our anchorage the Mayfair market is reassuringly calm and stable. As our 30-year data index shows this stable long-term rise makes for an outstanding return on investment. Back in 1985 virtually no homes were valued at over £1 million, thirty years later and virtually no homes are valued below £1 million – it’s a clear indication of the outstanding value that Mayfair property offers investors.”

 

from Finance Girl http://www.financegirl.co.uk/how-much-can-you-get-for-1-million-in-mayfair/

After Brexit: Roadmap for a leap in the dark

BRUSSELS (Reuters) - Dawn, Friday, June 24. The votes are in. The British have spoken in their EU membership referendum and they want out. It is a scenario European leaders are now planning for in earnest while praying it never happens.

from Reuters: Top News http://uk.reuters.com/article/uk-britain-eu-roadmap-idUKKCN0YM28B?feedType=RSS&feedName=topNews

One in three Germans in favour of EU exit - survey

BERLIN (Reuters) - Almost a third of Germans would vote in favour of their country leaving the European Union, a survey published on Tuesday showed, indicating widespread scepticism towards Europe among citizens of the bloc's biggest member.

from Reuters: Top News http://uk.reuters.com/article/uk-britain-eu-germany-idUKKCN0YM22E?feedType=RSS&feedName=topNews