City&FinanceBriefing 34 Tuesday, 13 October 2009 London Lite Inbrief London house prices to jump 38% by 2014 -20 -15 -10 -5 0 5 10 15 20 25 30 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Actual Forecast Annual house price growth (%) London will escape falling house prices next year while the rest of the country faces a setback in the values of most properties. According to estate agency Knight Frank, house prices will end this year 2% higher than they were at the beginning of the year. But the agency predicts that throughout next year prices will fall 3% nationally -- the clas- sic W-shaped recession -- although London will continue to grow with prices rising by 3% next year and by 9% in 2011. By 2014, London prices will be 38% higher than today while the national gain will be just 19%. Knight Franks head of residential research Liam Bailey said: We believe that the future improvement in market conditions will con- tinue to be led from London. He said his confidence was based on the fact that Londons economic recovery will outpace the rest of the UK and that sterlings continued weakness will encourage international buyers. His comments coincide with a report from the Royal Institution of Chartered Surveyors which says that a lack of supply continues to underpin the house-price recovery. Spokesman Ian Perry said: Imbalance between demand and supply suggests that house prices will move higher in the near term. BY Nick GOODWAY Back to normal ITV sees ad slump ending Normal service has been resumed, commercial broadcaster ITV claimed today as it announced a raft of measures to bolster its balance sheet and said the slump in TV advertising could be ending. The moves came the day after Sir michael Bishop announced that he would not become chairman succeeding michael Grade by the end of this year. That left ITV looking for a new chairman and a new chief executive. Chief operating officer John Cresswell also said he will quit after 22 years with the Coronation Street and X Factor broadcaster when the new chief executive arrives. But it was Cresswell who today said: The actions we are announcing continue our work over recent months to strengthen the balance sheet, improve our debt maturity profile and proactively manage our pension deficit over the long term. He said of current trading: Whilst we are not yet seeing a recovery in UK TV advertising, the trend is improving across the second half and into the fourth quarter. We continue to outperform the market and are on track to deliver the substantial cost savings we JJB gets its float on track LeISUReWeAR retailer JJB Sports today said its 100 million rights issue is back on course -- and revealed it is paying bankers 6 million to get the deal away. It was derailed last week amid rumours about payments allegedly made to chairman Sir david Jones. JJB denied the allegations but had to pull the float amid disquiet from some investors. Today it said that the 25p-a-share offer will be put to a shareholder vote on 29october. Australia Dollars 1.6622 Canada Dollars 1.5670 Denmark Kroner 7.6168 Eurozone Euro 1.0263 Hong Kong Dollars 11.6200 Japan Yen 135.7800 New Zealand Dollars 2.0254 South Africa Rand 11.0100 Sweden Kronor 10.6500 Switzerland Francs 1.5578 UAE Dirham 5.4444 United States Dollars 1.5086 TourisT raTes down 8.10 at 5202.07 fTse 100 dow Jones nikkei -$ UP 20.86 at 9885.80 UP 60.17 at 10,076.56 down 0.52c at $1.5747 >>for all the latest City share prices, call 0905 817 1694* or visit thisismoney.co.uk * Calls cost 75p/min from a BT landline & last approx 1 min per quote. not all stocks are available Bankers sue for lost wages l Six top bankers and traders from Lehman Brothers Canary Wharf office are suing the bust US investment house for lost earnings up to $100million (63.5 million). At the head of the claimant queue is Riccardo Banchetti, the former joint chief executive of Lehmans Europe. The UK-based italian is claiming $26 million for lost bonus awards and stock options. durex on rise as sex keeps selling l SEx and shoes are still selling well for SSL international, the maker of Durex condoms and Scholl footwear and footcare. Stripping out currency movements and acquisitions, sales of its brands were up by more than 3% in the six months to the end of September compared with the same period last year, exceeding 321 million. north-south split at Bellway l BUiLDER Bellway today outlined a north-south divide in the housing market after crashing to losses of 36.6 million. The losses for the 12 months to the end of July followed profits of 34.8 million a year earlier. House sales fell a third to 4380. Chief executive John Watson said the most pain came in the North while the South, particularly London, was more resilient. whitbread boss warns on slump l WHiTBREAD boss Alan Parker has warned we arent out of recession yet and anyone who thinks we are should take a cheap weekend away to reconsider. He said: We were not forecasting Armageddon last winter, nor do we believe the worst is past. You cant call the recession over. At best we are bumping along the bottom. PriCes PiCTure in THe CaPiTaL index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html