House prices step up pace after tax rises
UK house prices rose faster than expected in May, as demand continued to outstrip supply, figures from mortgage lender Halifax showed on Tuesday.
Prices increased 0.6 per cent in May compared to a month ago, beating analysts’ estimates for a 0.3 per cent gain.
House prices had fallen 0.8 per cent month-on-month in April after surging 2.2 per cent in March as buy-to-let investments rushed to beat higher stamp duty charges.
Gocompare could be sold by Esure
Esure, an insurance group, is considering options including a possible merger, for price comparison website Gocompare.
Esure bought the 50 per cent stake in Gocompare it did not own for £95 million in 2014, valuing the business at £190 million at the time. Profits at Gocompare are now on track to rise by 20-30 per cent after a year of Esure’s ownership.
“Now is the right time to review strategic opportunities for the Gocompare.com business, including a potential demerger, in order to continue to maximise value for our shareholders,” said Peter Wood, Esure chairman.
Playboy mansion sold for over £100m to the billionaire next door
The Playboy Mansion is under contract for more than $100 million.
Private equity boss, Daren Metropoulos, 32, is to become the new owner of the vast 29-room property, representatives for Playboy Enterprises and Mr Metropoulos have confirmed.
The sale price has not yet been revealed but the house was originally listed at $200 million.
National Australia Bank taken to court as rate-fixing case widens
National Australia Bank (NAB) on Tuesday became the third of the country’s big four banks to be accused of rigging the local equivalent of Libor.
The Australian Securities & Investments Commission (ASIC) alleged that on 50 occasions, from June 8, 2010 to December 24, 2012, the Melbourne-based bank traded in a manner intended to create an “artificial” price for bank bills, the watchdog said in a statement. NAB denied the charges.
“We do not agree with ASIC’s claims which means they will now be settled by a court process,” said David Gall, chief risk officer.
