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House price growth slows in London

House prices in five UK cities have been rising faster than in the capital.

Findings by Hometrack found house price growth in London slowed by two-thirds in the last quarter to 0.5%. That is compared to 1.4% three months ago.

Meanwhile property in Edinburgh, Glasgow, Southampton, Bristol and Birmingham rose at a faster pace in the three months to November.

Edinburgh (1.8%) and Glasgow (0.9%) registered the fastest house price inflation in the last quarter, as demand fed back into the market post-referendum.

The greatest reversal was seen in Aberdeen (-0.4%) and Cambridge (-0.2%), but Oxford (0.3%), Cardiff (0.2%) and Bournemouth (0.1%) also showed pronounced slowdowns.

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Call to improve internships in London

London has a major problem with unpaid internships- according to The London Assembly Committee. It's calling on the Mayor to make internships more accessible to young people- AND financially viable. One third of young adults in London have been or currently are an intern- but fewer than 40% are paid the minimum wage. The committee believes unpaid internships are bad for young people, and business. It recommends any internship lasting longer than 4 weeks should preferably be paid the London Living Wage.

Committee calling on Boris Johnson Credit: PA

Jenny Jones AM, Chair of the Economy Committee said:

"Internships should be fair and accessible to all, and they deserve to be paid.

The cost of living is much higher in London and unpaid internships are a big problem, especially in sectors like the media, politics and the fashion industry, where London leads the world.

Internships are often not paid at all Credit: PA

The letter makes a number of recommendations to the Mayor, including:

-Promote good quality paid internships in London - any internship lasting longer than four weeks should be paid at least the National Minimum Wage, and preferably the London Living Wage.

-Be part of an awareness-raising campaign on the rights of interns and make clear to business the legal requirements and benefits of paying interns.

-Address the lack of data and commission more research to understand the role of internships in London and to target further interventions.

Thousands of older job seekers returning to work

Thousands of older jobseekers have returned to work in the last few years Credit: PA

Official figures released today have shown that over 100,000 job seekers over the age of 50 have found new jobs in the last five years.

The city's jobcentres have particularly been focusing on providing back-to-work support for older workers, but the government says employers can still do more.

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Billion pound boost for London's motorways

The government money will go towards making road improvements across London and the South East Credit: Steve Parsons/PA Archive

Plans to unveil a two billion pound boost to improve roads across London and the South East will be unveiled by the government later today.

The money will go towards expanding junctions on the M25 as well as building a new bypass on the A27.

"We intend to make the building even better" says new owner

"We intend to make the building even better" says new owner Safra Group Credit: John Walton/PA Wire

"The acquisition of 30 St Mary Axe is consistent with our real estate strategy of investing in properties that are truly special – at the best locations within great cities. While only ten years old, this building is already a London icon that is distinguished from others in the market, with excellent value growth potential. We intend to make the building even better and more desirable through active ownership that will lead to a range of enhancements that will benefit tenants."

– Safra Group

Building had guide price of £650m

The iconic skyscraper, at 30 St Mary Axe, is known as the Gherkin because of its distinctive shape.

According to the Financial Times, the group - headed by billionaire Brazilian businessman Joseph Safra - paid £726m for the 180m high Norman Foster-designed tower.

The building was put up for sale earlier this year with a guide price of £650m.

The Gherkin: the second tallest tower in the City of London Credit: John Walton/PA Archive

The Gherkin is the second tallest tower in the City of London and the sixth tallest in London.

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