Predictions of an outright Tory victory in next week’s election has meant the pound has risen to its highest value against the euro in more than two and a half years. Opinion polls have led currency traders to believe that the end is in sight for the continuing uncertainty over Brexit that has continued to depress the value of the pound.
The top end of the property market is booming despite political uncertainty, with buyers snapping up expensive homes (paywall article). Land Registry figures show that the first six months of 2019 saw a 5% surge in sales of £1 million-plus homes, compared with the same period last year. The steepest growth was in the Midlands and the north of England.
Customers who booked a getaway with the now-bust tour operator are facing more heartache as refunds are being delayed. Those who used the holiday company were initially told that any claims made on the first day of the Air Travel Organiser's Licence (ATOL) refund programme would get their money back within 60 days (today). It has now revised this claim, stating that only two-thirds will be paid on time.
Booze could get more expensive following a possible merger between Stonegate (which owns Slug and Lettuce) and the Ei Group which owns more than 4,000 pubs across the UK. The warning comes from the Competition and Markets Authority (CMA), which today said that pub-goers in 51 local areas across the UK could see higher prices and slipping standards as a result of the deal. The two companies have until 13th December to come back with solutions.
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