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Half of London businesses struggling to recruit

More than 50% of businesses in the capital have struggled to recruit new staff in the last three months.

Research by the London Chamber of Commerce and Industry also found 26% of firms felt under pressure to increase wages.

It is urging government to make it easier for businesses to employee people from overseas.

"For the second successive quarter, businesses have told us that they are facing significant issues recruiting staff with the right skills. This means that increasingly, businesses need to look outside of the domestic labour market for the staff they need. "Making it easier for businesses to recruit from overseas is critical, we must see a reduction in the red tape associated with recruiting non-EEA workers and exempt foreign students from the net migration target, restoring their right to work in the UK after graduating."

– Peter Bishop, Deputy Chief Executive of London Chamber of Commerce and Industry


Sellers urged not to list property at unrealistic prices

Credit: Reuters

41% of homeowners in London would try to sell their property for a higher price than their estate agent quoted.

New research from online estate agency eMoov has warned that people could see their homes failing to sell for months because they have listed their properties way over their real value.

Its survey also found 31% of Londoners say getting the highest price is the most important factor when selling a home.

While only 3% would list their property at a lower price than they've been quoted by the estate agent.

Across the UK, it found the average home sold for £180,252 according to the latest Land registry report yet the average asking price on property website Rightmove is £279,000.

The Ivy restaurant's private bar sells for £31,000

The Ivy restaurant's private bar sold for more than 30 times its estimated worth at auction last night, fetching £31,000 after decades of playing host to celebrities such as David Beckham and Brad Pitt.

Credit: PA

In a charity event that raised £1 million, The Ivy sold everything from its finest artwork to its pane glass window and even the sign for the ladies' toilet.

A seat at the table that served dinner to Laurence Olivier and Diana, Princess of Wales was last night priced at £6,000 after the restaurant's top table went under the hammer.

Once one of the most difficult places to pass through in London, The Ivy's oak front door fetched £27,500.


Report due out on Londoners' 'personal problem debt'

Credit: PA

Around half a million Londoners are in financial difficulty according to a London Assembly report out today.

It estimates the cost of London's problem debt could be as much as £1.4bn.

The report, 'Final Demand: Personal Problem Debt in London', also says that the kind of debt people are in has changed - from consumer credit card debt to debt related to everyday essentials, like utilities and Council Tax.

London's tenants face average upfront fees of more than £2,500

When rent is added to fees, upfront costs may be close to £4,000 according to figures released today Credit: PA

Tenants in London face upfront fees averaging more than £2,500 - before they start paying rent.

The figures released by the Labour Party show that these upfront costs are the highest in London, compared to the rest of the UK.

The statistics also show that when rent is included, the average upfront cost to tenants increases to nearly £4,000.

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