Minister: UK Involved In France ‘BlackList’ Issue
Both have seen their shares rise more than 50 percent since going public, but some investors said last week Foxtons was late to the party and too exposed to London. While Britain’s housing market has been boosted by signs of an improving economy as well as help from the government and the Bank of England to ease access to finance, the pace of recovery has raised concerns about a new property bubble. Data last week showed British house prices recorded their fastest rise in almost seven years. However, despite being wary of proposed further government stimulus measures, housebuilding analyst Tony Williams said London was not yet experiencing a market bubble and rising interest rates in coming years would act as a natural brake. “A bubble is when you have people buying and flipping within the space of months. What you have in London is a shortage of supply and a planning system that gums up the works,” he said. “This particular run will end some time between the back end of 2014 and 2016, as rising mortgage rates will cause the market to plateau,” Williams added. Foxtons, which last year earned more than half its revenue from its lettings business, is focused on expansion within London, home to 40 of its 42 branches, and has said it is aiming for five to 10 new branch openings a year between 2014 and 2018. But analyst Anthony Codling at brokerage Jefferies said that while estate agents were the best way to gain exposure to the UK housing market, prospects were better for nationwide firms. “We see more significant potential for house price growth outside of London than inside,” he said in a note. Jefferies worked on Countrywide’s float.
The American R&B singer sold over 160,000 copies this past week and pushed Katy Perry’s single to the second position, ending her two week reign on top. ‘Talk Dirty’ has become Derulo’s fastest selling single ever in the UK, and is the third fastest selling single of 2013. He spoke to OfficialCharts.com and said “talk Dirty is Number 1? Heeeeeelll yeah” He added “My new album is not even out yet and already making history because of you! Thank you for your continued support, I’m gonna have to move to the UK in a minute!” The No.1 single features American rapper 2 Chainz and it is the second track off his upcoming 3rd studio album ‘Tattoos’ which will be released in the UK this Monday. The album’s first single , ‘The Other side’ was released back in June and was denied the top spot by Robin Thicke’s summer hit ‘Blurred Lines’. Jessie J’s new entry ‘It’s My Party’ reached No.3 while OneRepublic’s ‘Counting Stars’ dropped to the forth position. the 24 year old took to his twitter account thanking his fans from across the pond- “UK thank u so much!” Deurlo’s third studio album ‘Tattoos’ will be released in the UK on September 23rd 2013. The Official UK Top 10 Singles is listed below: 1 Jason Derulo – Talk Dirty (ft. 2 Chainz) 2 Katy Perry – Roar 3 Jessie J – It’s My Party 4 OneRepublic – Counting Stars 5 Avicii – You Make Me 6 Avicii – Wake Me Up 7 Drake – Hold On, We’re Going Home (ft. Majid Jordan) 8 Ellie Goulding – Burn 9 9 Macklemore & Ryan Lewis – Same Love (ft.
Last month France added Bermuda to its list of uncooperative tax havens, joining Botswana, the British Virgin Islands, Brunei, Guatemala, Jersey, the Marshall Islands, Montserrat, Nauru, and Niue on the list. It was announced via the international press, and Minister Richards said the Government was concerned in the manner in which this matter was announced to the international media without any initial consultation with the UK and not going through the proper channels that exist between the UK and France. In a Reuters report about the matter, they noted that according to data compiled by the French government through to August 2011, Bermuda had responded to all French requests for information. Answering a Parliamentary Question from Shadow Finance Minister David Burt over what actions are being taken over the blacklist, Minister Richards said the Ministry has secured the involvement of the UK Government who are engaging the French authorities, and also noted that Ministry of Finance officials have arranged meetings with their French counterparts to resolve Frances concerns. The full response given by Minister Richards in the House of Assembly is below: Ministry of Finance officials have contacted counterparts within the French Ministry of Finance to seek clarification regarding this action as we seek an early resolution to this matter. The Government of Bermuda is surprised by reports that we are to be included in Frances list of offshore financial centers with which France has issues, particularly as Bermuda has an existing exchange of information agreement (TIEA) with France. We currently have 39 bilateral transparency agreements, which includes 90% of the G20 countries. The Government is also concerned in the manner in which this matter was announced to the international media without any initial consultation with the UK and not going through the proper channels that exist between the UK and France. With the support of His Excellency, the Governor, we have secured the involvement of the UK Government which is also engaging the French authorities at the diplomatic level as we seek answers on this matter. I can advise that Ministry of Finance officials have arranged meetings with their French counterparts to take place in the very near future to resolve France concerns. I will update this Honourable House and Bermuda via a press statement when there is additional news to report on this matter, which l anticipate to be before the next legislative House Session.