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Thursday newspaper round-up: Housing market, car makers, Facebook, retailers

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Thursday newspaper round-up: Housing market, car makers, Facebook, retailers

Thu, 27 July 2017
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Thursday newspaper round-up: Housing market, car makers, Facebook, retailers

(ShareCast News) - Ten years on the housing market is still feeling the after-effects of the credit crunch, with existing homeowners struggling to trade up, a doubling of typical first-time buyer deposits, and a "huge gap" between London and the rest of Britain, according to a new report. Property company Savills has found that the global financial crisis - which it considers to have started on 9 August 2007, when the French bank BNP Paribas froze three investment funds - is "still shaping the UK housing market" and will continue to cast its shadow over the sector for years to come. - Guardian
A regulatory regime intended to crack down on the behaviour of bank bosses is to be extended to 47,000 firms including dentists, gyms and tool hire companies that offer credit to customers. The Financial Conduct Authority estimated that the new regime would cost firms £550m, with up to £190m of ongoing costs for the firms involved. - Guardian

A row has broken out between Britain's car makers and the Government as senior industry figures last night complained they had been "blindsided" by the clean air announcementthat pledged to remove petrol and diesel cars from the UK's roads by 2040. The Department for Environment, Food and Rural Affairs (Defra) announced details of the scheme on Wednesday, which aims to improve air quality by banning sales of new cars with conventional ­engines from 2040 - but failed to consult the industry about the plan. - Telegraph

Facebook shares hit an all-time high in after-hours trading on Thursday, after it said it enjoyed a 45pc surge in revenue in its recently-ended quarter thanks to continued dominance in the mobile video advertising market. The company's stock closed up 0.2pc on Thursday, but rose 4.5pc in after-hours trading to $173. Its revenue hit $9.3bn (£7bn) in the three months ended June 30, of which 98pc came from advertising, while diluted earnings per share rose almost 70pc year on year to $1.32. - Telegraph

A "tide of change" across the retail industry has led to a drop in the number of full-time jobs compared with last year, according to the British Retail Consortium. The trade association for retailers said that the number of hours worked in the sector had fallen by 3.3 per cent between April and June compared with the same period a year ago, suggesting that the number of full-time employees was falling, with all three months showing a decline in hours worked. - The Times

The boss of Britain's biggest commercial broadcaster has rejected calls for it to reveal details of its top earners' pay. Speaking days after the BBC published a list of its highest-paid celebrities, Sir Peter Bazalgette, executive chairman of ITV, said that it took the issue of equality seriously but would not go down the same path. - The Times