Win British Airways flights to Orlando for you and three friends and watch Orlando: Enjoy The Ride episode 2

British Airways and Metro have invited three unique travellers to experience a day created just for them in Orlando - the catch? The other two will be along for the ride. Watch what happened below - and for your chance to win BA flights to Orlando, click here.


Missed episode 1? Watch it here.

The day begins
Every day starts with British Airways rep Laura checking in over iPad with the bloggers and revealing their schedule. On the first day, golf instruction blogger Andy Proudman had enjoyed a day's golfing, so on the second morning the choice was between lifestyle and travel blogger Ben Brown and beauty and fashion blogger Emma Woodley.

'I had a feeling it would be my turn,' recalls Emma, 'mainly because I didn't think they'd make me do two "boys' days" in a row.'

Emma's feeling was correct. Day two would involve malls, shops, make-up and a bespoke personal shopping experience.

'I don't like shopping, so my first thought was: "I'm not up for this,"' says Andy. 'Then I remembered that Emma had enjoyed my golf day despite going into it thinking something similar. At that point, I decided to get involved and see what happened.'

Ben Brown, meanwhile, had a secret. 'I pretended to be upset to wind Emma up but I like shopping, so I was actually really looking forward to it.'

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Tiny Belfast pod apartments aimed at first-time buyers

Those with a tendency to avoid small spaces may find the new Never Monday development a little hard to swallow as Belfast's city centre goes compact.

Forget about getting the extended family round for Sunday dinner - these new bohemian and rather tiny apartments are certainly going to be a little short on space.

The 'Never Monday' project at Montgomery Street in the city centre, comprises 48 apartments starting from just under Ј80,000 - each fully furnished and decked out with all the modern technological accoutrements a city centre worker could require.

The pod-like homes are single space areas made up of a living room, kitchen and bedroom with residents also having access to a shared ground floor coffee shop, laundry facilities, gym and a rooftop garden.

Although new to Belfast, the concept has been around for some time with similarly designed 'Lux Pods' appearing across central London in the last year - again with the focus on technology and luxury gadgets helping to compensate on the rather cramped atmosphere.

With the average price of a house in Northern Ireland currently over Ј160,000 and with traditionally sized Belfast apartments approaching Ј150,000, this uber-modern way of living could be a perfect solution for young 20-somethings looking for their first home.

The concept stems from the idea of 'capsule hotel' pods which have begun springing up across densely populated areas of Japan such as Tokyo.

Guests are treated to a rather cosy fibreglass pod, stacked upon one another with some hotels capable of holding up to 700 people at a time.

Anyone still tempted by Belfast's newest little living spaces can check out a full scale "pop-up pod" replica situated at Victoria House in Gloucester Street.

Background

Much of the inspiration for compact city centre living has been derived from the Japanese who have been pioneering the concept since the 1970s. The Nakagin Capsule Tower, built in 1972 was one of Tokyo's first "micro home" buildings, made up of tiny capsules to be used as small living or office spaces.

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FBT rental levels becoming increasingly diverse

Farm Business Tenancy rents are becoming increasingly diverse in terms of the range of values achieved according to Savills farm rental database which includes 600 tenancies across 264,000 acres.
While 55% of rents during 2012 were at least Ј90/acre compared with just 32% in 2008. Looking at arable rents (including potato and vegetable land) in isolation 61% of all arable FBTS were over Ј100/acre and as illustrated in the chart below there was a huge range in values with some achieving over Ј500/acre.
View the data: Range of Arable FBT rents (2008 - 2012)
Growers are often now looking at factors including proximity to their core holding and the quality of drainage when offering on an FBT in reaction to the high cost of inputs, commodity price volatility and the disastrous recent weather conditions. In this context we do not expect settled rents for 2013 to reflect the 12-month average increases recorded for settled rents during 2012 of 33%.
The average acreage included in an FBT during 2012 was 150 acres with 75% being 200 acres or less and 5% at over 500 acres. 
In terms of years taken, the popular FBT term was five years (23%) with two and ten years each accounting for 17% of all other length of term respectively. There appears to be little correlation between the length of term and the acreage included in the FBT.
Johnny Dudgeon director of Savills rural estate management comments, "There is a growing appetite for taking on extra farmland on a FBT as opposed to a contract farming arrangement. Threats to yields and commodity price volatility are pushing the balance of growers towards FBTs, where the perceived risk is less, although this needs to be balanced with the taxation consequences of the FBT route. 
If current market conditions continue I suspect we shall see more FBTs agreed on a three to five-year term with shorter time periods between reviews and break clauses.
For further information please contact:
Ian Bailey Savills rural research  +44 01797 230156
Johnny Dudgeon Savills estate management +44 01522 508952
Louise Rose Savills press office +44 07967 555817

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David Morris's photographs of shepherds' huts around Britain

A snowy scene featuring a Plankbridge Huts Ltd design with integral wood burning stove. By the 1970s, most shepherds' huts had fallen into disrepair, but they have become popular again in recent years as garden features.
Picture: David Morris / SWNS.com

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European Commission predicts 'turning point' in Europe

The European Commission has said the European economy has reached a "turning point", but the eurozone will grow less quickly than previously expected.

The Commission said there were "signs of hope" that had started to turn into "tangible positive outcomes".

But in the eurozone - the 18 nations that use the euro - it predicted growth of 1.1% next year.

This is the second downward revision of 2014 eurozone growth this year, after it was cut from 1.4% to 1.2% in May.

The Commission forecast that the eurozone would grow 1.7% in 2015. In the EU as a whole, it expects 1.4% growth next year and 1.9% in 2015.

It said overall EU growth would be flat this year, up from its May forecast, but unemployment would stay at 11.1%.

Jonathan Loynes, chief European economist at Capital Economics, said the subdued forecasts reflected the "general sluggishness" of the eurozone economy.

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Analysis

image of Andrew Walker
Andrew Walker
BBC World Service Economics correspondent
It is another reminder - if we needed one - of the agonisingly slow stabilisation and recovery in the eurozone.

Yes, the Commission is forecasting growth next year after two years of contraction. But the numbers are feeble - 1.1% next year and 1.7% in 2015.

That's reflected in some dismal projections for the labour market, with the average unemployment rate for next year the same as it is now - 12.2%.

The jobless forecasts - if they turn out to be right, a big assumption - show some improvement in some crisis countries, notably Greece, Ireland and Spain.

The levels, however, will remain high and there is little or no improvement forecast for Italy or France. Whatever you think of the policies advocated by the European Commissioner Olli Rehn, he is surely right to say it's too early to declare victory.

"The norm for the eurozone is still pretty dreadful, really. Even these forecasts are still likely to be too optimistic," he said.

On an individual country basis, the Commission significantly upgraded its forecasts for the UK from 0.6% to 1.3% for this year and from 1.7% to 2.2% for next year.

"[The year] 2013 has thus far exceeded expectations and the outlook is quite bright," the report said on the UK.

Recovery 'gradual'
"There are increasing signs that the European economy has reached a turning point," said Olli Rehn, commissioner for economic and monetary affairs.

But Mr Rehn warned unemployment would stay high.

"It is too early to declare victory: unemployment remains at unacceptably high levels," he added.

The Commission now expects unemployment for the eurozone next year to stay at its current level of 12.2%, up from its previous forecast of 12.1%.

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"
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It is possible that the number out of work in the eurozone will surpass 20 million"

image of Gavin Hewitt
Gavin Hewitt
Europe editor
Read more from Gavin
It also expects unemployment to improve only gradually, staying around the current level for the next two years and only dropping to 11.8% in 2015.

The Commission also warned that it expected the recovery to be gradual.

"While the financial market situation has improved significantly and interest rates have declined for vulnerable countries, this has not yet fed through to the real economy," Mr Rehn said.

In the eurozone - the 18 member states which use the euro - the Commission predicted growth of 1.1% next year, down from its May forecast of 1.2%, and 1.7% in 2015.

The Commission blamed weaker investment and the fact it expected inflation to stay below the central bank target over the next two years.

The Commission also expects Greece's recession this year to be slightly less severe than its earlier forecast, predicting a fall in growth of 4% this year, compared with its earlier prediction of a 4.2% fall.

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The wild west - west country homes perfect for storm watching

Storm watching is a lucrative business in the United States and Canada, with many places proving popular destinations for holiday makers looking to partake in this exhilarating activity but there is also plenty of scope for challenging the elements back here in the UK. 

Many of Britain's coastal and moorland regions are at their most atmospheric during the winter months and it is invigorating to escape daily routine and walk on cliff tops above crashing waves, or tramp across moors and mountainsides in buffeting wind and swirling mist. 
Wales has some of the most dramatic yet beautiful coastline in the UK with many award winning beaches along the Ceredigion, Pembrokeshire, Carmarthenshire and Gower coastlines and the Devon and Cornish coasts are also popular locations for storm watching.
If you are interested in houses or holiday homes on the west country coast where you can witness the elements from the comfort of your own living room please contact either our Cardiff, Exeter or Truro offices for more information or take a look at the properties for sale below.

This charming pair of cottages enjoy a superb position in the historic harbour town of Fishguard commanding breathtaking views of the old and new harbours and the sea. The gardens of the cottages back onto the Marine Walk - a footpath which meanders along the cliffside for about one and half miles from the quayside in Lower Fishguard Harbour to the Parrog and Goodwick beach. From there you can walk along the breakwater to watch the fishermen and see the ferry coming in.

A stunning coastal residence set in spacious and private grounds overlooking the sought after seaside and fishing village of New Quay, West Wales famous for its Blue Flag sandy beaches and stunning coastline. Commanding panoramic views  of the sea, New Quay Bay and up to North Wales excellent features such as the sun room with dining area, vast decked balcony and garage roof terrace have all been designed to maximise the enjoyment of the breathtaking views.

This fabulous waterside residence  sits in an enviable position fronting onto the beautiful Restronguet Creek and enjoys panoramic views up and down the river. The accommodation is bright and airy with rooms focused on the water and in prime position is a pleasant decked area which is perfect for admiring the spectacular views up and down the creek and over the beautful unspoilt landscape of Carclew opposite.

Redlap occupies one of the finest coastal positions in South West England. A magnificent and peaceful setting in a private frost free valley running down to the sea with views stretching from Start Point and Slapton Sands to the West and the Mew Stone to the east. Internally the house enjoys wonderfully sunny rooms with tall sash windows, looking out over the garden and down towards the sea.

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Currency update September 2013

Currency update by Philip Ryan, www.currenciesdirect.com

Sterling is currently running alongside the yen as the top performer as the barrage of improved British data since late May continues. The latest UK PMI (Purchasing Managers' Index) services report for July rose to its highest level since December 2006, reaching 60.2 vs 57.4 as was expected.

The data follows improved July PMI construction and manufacturing reports, and supports what has been a stream of improved PMI surveys starting in May. But as much as the British pound has benefited recently, particularly against the US dollar, will this be the case against the euro?

As per the Bank of England's latest policy meeting, governor Mark Carney made it clear that details on the Central Bank's new 'forward guidance' policy would be set forth alongside the relevant Quarterly Inflation Report. In the July meeting, forward guidance was announced to reflect the BoE's commitment to holding rates pointed towards zero for the next several years. The response in sterling was quite negative indeed; we are biased towards a negative reaction to the pound.

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Governor Carney has recommended that a nominal GDP target could work, and at the current rate of growth it's no stretch of the imagination to think that a growth benchmark would be set higher. However, the UK economy will fall short of whatever benchmarks are established at the present time, which will deflate some of the optimism behind the pound.

European Central Bank president Mario Draghi has emphasised that the ECB will keep interest rates low "for an extended period." However, questions in his monthly press conference about quite what "extended period" meant were deftly sidestepped by Mr Draghi with his usual coolness.

The strength of the euro seems to be stemming from European PMI figures, which apart from France showed expansion across the eurozone. Italian GDP, which was the first GDP release of the three major eurozone economies - Italy, France and Germany - was better than expected. The Italian economy contracted 0.2% over the quarter, beating expectations for a 0.4% contraction and better than the 0.6% contraction reported for Q1.

I think sterling will recover against the euro as economic data looks firm in the UK while Europe is still facing a number of difficulties, and I think that the pound will claw a little back in the short term.

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Country Chic

Ballykeel House with the rolling green fields of Co Down as a backdrop, is a five bedroom family abode at the cutting edge of modern 21st century living.

Yes, it's grand with ultra-modern interiors and an architecturally pleasing exterior, but this rather magnificent manor just outside of Hillsborough could save you a packet in running costs due to a host of energy-efficient features.

The detached abode with four reception rooms - which is set in just under five acres of beautiful countryside - has more than a dollop of modernity behind the front door.

And, at a time when fuel bills are skyrocketing, features such as underfloor heating and hot water fuelled entirely by an eco-friendly wood pellet biomass boiler are extremely welcome - this house uses no oil whatsoever!

Meanwhile, every room has a digital thermostat to control the temperature, a pressurised heating system and hot water circulator, well-insulated floor, roof and cavity walls and K Glass double glazed windows with black aluminium on the outside and timber on the inside.

There is no scrimping on style here either with beautiful finishes such as tiles by David Scott throughout, a feature sandstone

fireplace and a luxury maple-fitted kitchen amongst other fabulous features.

As well as gorgeous interiors there is also a stable block, tack room and sand menage. With stone pillars to a sweeping granite kerbed driveway this impressive residence can only be appreciated on closer inspection.

The extensive accommodation kicks off with a spacious reception hall boasting a Travertine natural-stone tiled floor with double built-in storage, a feature archway and double-height ceiling which gives in turn to a separate loo with Jacuzzi white suite and more of that lovely stone tiled flooring. A good-sized drawing room follows with a feature sandstone fireplace and more matching stone tiling to the floor with double glazed patio doors which open to a pretty courtyard and garden area.

Next door's study, meanwhile, has timber flooring, a built-in desk, drawers and filing cabinets and leads to a cavernous kitchen which is open plan to a living/dining/ family room.

Expect the wow factor in this kitchen with designer appliances and posh tiling. There are fitted maple units, star galaxy granite worktops and splashback, a Britannia gas range with hotplate, rotisserie, double electric oven, granite splashback, American fridge freezer, Neff integrated dishwasher, matching stone island unit with granite worktop, breakfast bar, feature full-height window to water feature, matching dresser with inset fish tank, video intercom entry system and a porcelain tiled floor.

The dining/family room has a matching cream porcelain tiled floor, feature Rais wood-burning gas fire, maple plank flooring, a magnificent feature pine ceiling with kingpost trusses, feature apex window, a feature stone wall and wiring for a wall-mounted flatscreen TV and Dolby 7.1 surround sound with double patio doors providing a view to the barbecue area and countryside.

Next door's utility room has maple units and granite worktops as well as being plumbed for appliances. From here is a feature tower with a Travertine natural stone tiled staircase with lighting leading from the reception hall to the gallery landing.

Upstairs is the masterful main bedroom which has a balcony and a large walk-in wetroom with pebble tiled floor, modern rain-head shower and separate hand shower to the en suite. There is also a Jacuzzi twin sink set in quartz stone with twin matching mirrors with anti-steam pads and a porcelain tiled floor.

A dressing room follows with a walk-in shelved mirror-fronted robe. The remaining bedrooms are also well-appointed with a mix of features to include more mirrorfronted sliding wardrobes and double glazed Velux windows, and a lovely family bathroom with white Jacuzzi suite.

Click here to view this luxurious country house in Hillsborough which has all the latest in green technology...and stables too.

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Savills brings corking opportunity to the market near Shedfield, Southampton

Savills, on behalf joint LPA receivers Mark Wilson and Matthew Haw of Baker Tilly, has been instructed to market Wickham Vineyard, a well located rural estate near Shedfield, Southampton. The property is offered for sale with vacant possession at a guide price of ?1.6 million.
Totalling 41 acres (17 hectares), the property comprises a well established vineyard extending 16 acres (7 hectares), a 40 cover restaurant, a four bedroom 2,174 sq ft (202 sq m) detached house and various winery buildings used to produce, store and sell wine. The property boasts a picturesque rural setting with prominent road frontage onto the A334 and good transport links to Southampton and beyond.
Ian Simpson, director of leisure and trading at Savills, comments: "Wickham Vineyard was established in 1984 and has previously generated income from the sale of wine produced at the property, as well as from its use as a restaurant and visitor attraction.  The sale offers an excellent opportunity to acquire an established vineyard with substantial production and entertainment buildings alongside a family house."

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Waterfront homes in London – the best property on the Thames

Many of the most famous, vibrant and exotic cities in the world are located on a waterfront including Sydney, Venice, New York and Rio. London is no exception and benefits from over 40 miles of water offering a luxury lifestyle to those who want it. It therefore comes as no surprise that riverside property comes at a premium and it is home to some of the most prestigious addresses in the city. 

Savills Waterfront team offer some of the finest opportunities in waterfront living and have some particularly unique opportunities for sale, perfect for those who want a city bolt hole combined with the luxury of the London waterfront lifestyle.

Of particular note is Oyster Pier, located within a short distance of the world renowned Chelsea and Kensington and host to 10 custom built residential barges hand selected from Holland and France. The first barge has now been completed and is for sale with our waterfront team. 

A world away from your average house boat, buyers have the option to custom build their barge to the highest specification creating a bespoke home right on the riverside with generous deck space, allowing residents a unique outdoor space of their own. 

Internally they offer up to 2,300 sq ft of living space and allow the purchaser complete freedom to design it in a variety of different layouts and styles. Oyster Pier also enjoys the additional benefit of having full access to the facilities and services offered by the neighbouring 5* Hotel Rafael and Spa making these investments the height of waterside luxury.

Furthermore, the mooring is included in the price of this unique home which remains yours for 115 years, something of a rarity in London where most residential moorings have to be renewed every two years. Another advantage is that stamp duty only has to be paid on the price of the mooring rather than the total price of the boat and mooring combined.

If you're looking for something slightly less quirky but still at the height of luxury, Riverside One in Battersea have an apartment with spectacular views over Chelsea, Kensington and Knightsbridge, designed by world renowned architects Foster and Partners. 

The property is close to the beautiful Battersea Park, with its lovely gardens and sporting facilities, while also only a few minutes from The Kings Road and the heart of Chelsea. On the 6th floor, this exclusive and discreet apartment is one of just 25 units of which only 3 share this space and view. For further information please contact the waterfront team or our Battersea office.

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Great Care Essential When Buying Off Plan

In recent months there have been signs that residential property developers of multi-unit sectional title schemes are once again becoming active, says Tony Clarke, Managing Director of the Rawson Property Group. While this is welcome (and very necessary), he says, it is likely to lead to a revival in the disputes which have been seen occasionally in this field between the clients (often represented by a body corporate) and the developers.


"Many sectional title developers," says Clarke, "have mastered the art of marketing their units and are extremely proficient at it. Using models, digital walk-through videos, brochures, well displayed plans and computer graphics they can, if not carefully watched, make developments look a great deal more glamorous and attractive than they will be when actually completed - and this can lead to disappointment."


Particularly reprehensible, says Clarke, is the practice of a small minority of developers who do not specify exactly the materials to be used or, if asked about this, downgrade them and use inferior materials in their place. It is, therefore, he says, vital to insist that all materials, including those in the common areas, are specified in the sales documents and are used in the building at the outset.


Regrettably, too, says Clarke, building skills are in short supply these days and this coupled with a lack of qualified supervision can lead to the building showing signs of deterioration early on in its life. Paint peeling on balustrades, walls and galvanized iron tanks, flaking plaster and subsidence or structural cracks can and do crop up. Fire protection and garden sprinkler systems as well as electronic doors frequently perform inadequately and so-called waterproofed areas like roofs and balconies quite frequently can also cause problems from a very early stage in the building's life.


The Sectional Title Act, says Clarke, allows the body corporate to sue its developers on account of unacceptable quality if these faults become evident in the first three years, but this can only be done if the body corporate has called for a special resolution which is then supported by 75% of the owners (measured both by number and by value) participating in a formal voting process.


Obviously, says Clarke, if the developer has held onto a significant percentage of the units for later sale or for renting on his own behalf, such a resolution can be difficult to achieve. In addition, the developers are sometimes able to hide behind the company or companies set up for the development.


Supposing, however, the body corporate members do decide to sue, they will then have to raise the legal fees themselves (and may well not be compensated for these in the final judgment). Legal fees, adds Clarke, have a nasty habit of mounting up higher than anticipated.


"The lessons to be learned from all of this," says Clarke, "are that it is essential to check the track record and credentials of the developer and the building team. This can be done by visiting their projects."


In general, he says, unless you know the management personally, it probably pays to be wary of new boys on the block - those developers entering the market for the first time. It should also be borne in mind that on occasion high profile reputable branded estate agencies do find themselves working on behalf of less than competent developers.


"If you can purchase from a developer with an established reputation which has its own construction and sales team and has several nearby recently completed developments to check out, so much the better," says Clarke.

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Should You Put Your Home On Show?

Remember the old days when visiting show houses on a Sunday afternoon was almost a national pastime? Agents pointer boards fairly littered the pavements and traffic jams in suburbs became the norm. At times it seemed that every second home was on the market. Dedicated show house visitors stood the change of bonding with other when they inevitably met up week after week.


Then the Internet came on the scene and suddenly it was no longer necessary to drive around for hours, getting lost when some mischievous child switched the boards around, wandering around house after house in the search for the ideal home.


Virtual tours gave house hunters the freedom to sit in their lounges and to view as many properties as they wanted without having to pay a cent on petrol. Even before virtual tours became the norm, the fact that agents could load dozens of pictures helped the would-be buyer get a good idea of what the property looked like inside and whether it was worth taking a closer look.


So does all of this mean that putting a house on show is going to become a thing of the past? According to a recent report, estate agents are divided on the point. Some believe that show days are still the number one way to market a property, while others feel that the success rate is marginal and the security risks are just too great.


'There are definitely positive and negative aspects to having a show day,' says Dieter Harck of RE/MAX One Hundred.


'Some advantages to having a show day are visibility and accessibility. Show days can also save both the agent and seller time as a number of potential buyers can view the property within the same day. The fact is that irrespective of the brand or advertising, many buyers will visit a show house in order to see for themselves what it has to offer. A show day also offers buyers the chance to interact with the agent and perhaps be put onto their database or make appointments to see other homes within their portfolio of stock.'


Harck notes that sometimes a show day can be a less stressful option for the seller because the cleaning and tidying is only done once a week rather than numerous times to accommodate the potential multiple viewings in the course of the working week. The seller is also not inconvenienced by constantly needing to be home at a certain time or wait to let in buyers who want to view the property.


While the positives are pretty obvious, there are some serious negatives linked to show days. Security in South Africa is a major concern for all and opening up your home to all and sundry is risky. While we may not have got to the stage where armed gangs are storming show houses, overwhelming the agent and ransacking the home, it doesn't mean that they aren't those who visit a home with the sole purpose if casing the joint in order to break in at a later stage.


Criminal elements aside, show houses also tend to attract nosey neighbours, those in search of interior design ideas and those who have nothing better to do than wander around other people's home over the weekend. Yes there may well be the odd serious buyer who has every intention of signing on the dotted line, but agents do seem to spend an awful lot of time trying to weed the serious from the mere 'lookers'.


Interesting though is the fact it appears that the show house concept continues to work well in some areas, while the practice has all but died out in others.


"Every area has its own demographics and dynamics. Harck says that while some agents say that around 80 percent of the sales in their area are from buyers that viewed the property on a show day, others say that they have not sold a property through a show day in the last three years."


Choosing an agent who understands these dynamics and who isn't going to waste the sellers time by insisting on a show day in an area where there is little chance of success may be the way to go. It stands to reason that those who focus on marketing tools that have proved effective in a particular area, will get the property sold in the quickest possible time.

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Sony slashes full-year profit forecast by 40%

Japanese electronic giant Sony has slashed its full-year profit forecast by 40% as it continues to struggle.

It now expects to make a net profit of 30bn yen ($305; ?190m) in the financial year to 31 March 2014, down from its earlier projection of 50 bn yen.

The cut came as Sony said its loss in the July-to-September quarter widened 25% from a year ago to 19.3bn yen.

One of the big drags on its earnings was its Pictures division which made a loss due to some high profile flops.

The division, which also includes production of movies as well as TV shows, recorded an operating loss of 17.8bn yen during the period, compared to an operating profit of 7.9bn a year earlier.

Continue reading the main story
Analysis

image of Rupert Wingfield-Hayes
Rupert Wingfield-Hayes
BBC News, Tokyo
Sony still wants to be the king of consumer electronics.

Sony's boss Kazuo Hirai has repeatedly said the company that invented the Walkman, will not retreat from the market it once dominated. And so Sony struggles.

Making money out of making TVs has never been harder. It's the same with computers and digital cameras. The competition from South Korea, and increasingly from China, is intense.

Yes, Sony's latest Xperia Z smart phones are selling well. But once again Sony's main profit centre is music and insurance.

The contrast with Panasonic couldn't be starker. Until last year the Japanese giant was haemorrhaging cash even faster than Sony. It lost 15 billion dollars in just two years.

That forced Panasonic's management to make some tough decisions. They decided to get out of loss making plasma TVs and smartphones, and to concentrate on industrial systems: things like engine management computers for cars, satellite navigation systems and high-power lithium ion batteries.

It seems to be working

"The current quarter reflects the theatrical underperformance of White House Down, while the previous fiscal year included the strong theatrical performance of the Amazing Spider-Man," the firm said in a statement.

There was also a decline in television licensing revenue due to fewer movies being licensed year-on-year.

TV troubles
Sony has also been hurt by increased competition and slowing global demand for TVs.

A decline in TV prices has further hurt the profitability of the sector.

Sony's TV division posted an operating loss of 9.3bn yen for the three three months to the end of September.

At the same time, its gaming division which makes the PlayStation consoles also reported an operating loss during the period.

The firm said that the division's earnings were hurt after it cut the price of its PlayStation Vita consoles.

Sony cut the prices of the original PS Vita earlier this year in a bid to boost sales, which have been affected by an increasing number of users playing games on their smartphones and tablet PCs.

Sony's Game division made an operating loss of 800m yen during the period, compared to an operating profit of 2.3bn yen during the same quarter a last year.

Contrasting fortunes
Sony's results are in contrast to rivals Sharp and Panasonic who reported profits for the July-to-September quarter. Sony slashes profit forecast by 40%

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Panasonic reported a net profit of 61.5bn yen for the period, reversing a loss of 698bn yen during the same period a year ago.

The firm said that its steps to exit unprofitable businesses, improved efficiency, as well as the continued weakness of the yen had a positive impact on its sales and earnings.

"Yen depreciation also contributed to overall sales increase," the company said in a statement.

The Japanese currency has weakened nearly 25% over the past year, making Japanese goods more affordable to foreign buyers. A weak currency also boosts profits of exporters when they repatriate their foreign earnings back home.

Panasonic also raised its full-year profit forecast. It now expects to make an operating profit of 270bn yen in the current financial year, up from its earlier projection of 250bn yen.

Meanwhile, Sharp reported a net profit of 13.6bn yen for the quarter, reversing a loss of 17.9bn yen in the previous three months.

Sharp, which has struggled in recent times, said that it had benefited from its efforts to cut its costs and focus on high growth areas such as manufacture of solar cells.

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Will flats to rent in London benefit from house price rises?

More people may look for flats to rent in London as it has been revealed that homes in the capital are getting more expensive. The Land Registry's House Price Index, which has information dating back to 1995, showed property in the city last month cost as much as it did three years ago, before the worst of the recession hit. An average house in London was Ј338,027, which is around twice as high as in the rest of England and Wales. All ten regions in the country have seen rises in value over the last year, but the capital has seen an increase of over 12 per cent, a huge rise compared with the north-east, where the rise has been less than one per cent. Kensington and Chelsea is the priciest place to live, with the average property over Ј875,000, but Camden and the City of Westminster are not far behind and have prices of over Ј500,000 each. These details are not made artificially high due to an influx of summer buyers, as the Land Registry removes seasonal variation from its database


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Keeping the Peace!

Ok, so you've just moved in with your mates and you're ready to party, or perhaps you've never met your new flat mates but hey, it's going to be great, right?

Not always! So although no one really wants to sound like their parents by setting out the ground rules, it's best to have a open chat with everyone about how living together is going to work out for the best. Even the most domesticated Nigellas and budding Bob the Builders will soon get fed up of always doing the cooking or fixing the broken boiler.

So as you start your tenancy, here are a few things to consider:

- Make sure that everyone knows the details of the tenancy agreement - sounds simple, but if just one person took responsibility at the outset the others need to know their share of the rent, when and how it's due and how long they are obliged to pay under the length of the tenancy agreement. It's most straightforward these days to set up a standing order to pay rent directly into the Landlord or Estate Agent's bank account.

- As a household you need to budget for additional bills like electric and agree at the outset if they will be divided equally among everyone. There's no point arguing every quarter over who uses the electric shower more!

- It's a good idea to split ownership of various bills or make sure that the bills are in joint names to avoid one person being responsible for everything and, in the worse case scenario, the one being chased for payment at the end of your tenancy. If student bills are left unpaid this will possibly incur a poor credit score which could come back to haunt you later in life.

- A kitty is a common sense idea for shared items like tea/loo roll etc! And it may even encourage everyone to be more sociable - why not add in a little extra every so often and eat together in the evenings or go out for a drink or two.

- Going one step further than a loose change kitty it makes sense to pool resources and cook together - a lot cheaper than take aways or meals for one. And if you're environmentally conscious it's a lot less wasteful.

- If there are a number of you sharing and cleaning the oven is the last thing on anyone's mind, it might be cheaper than you think to club together and employ a cleaner for a couple of hours a week. One less excuse to fall out with each other over who's turn it is to clean the floors!

- Be open and honest and don't let grievances fester. If you are annoyed at 'Jonny's' girlfriend practically moving in as a new house guest say so!

- Be respectful of your other house mates at all times. Yes, everyone likes to party but if someone has important exams on the horizon know that organizing a party the night before is not the best idea.

- Decide at the start of the tenancy if your house is going to be smoking or non smoking.

- Remember, a tenancy agreement is only for a maximum of a year so if things don't work out you'll find new flat mates next year!

.propertynews.

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Flats to rent in Barking and Dagenham may be great for cyclists

Those looking for property to rent in the London Borough of Barking and Dagenham may find it is ideal for keen cyclists, as new figures have shown a dedicated bike route from the area to Central London has become increasingly popular.

Figures from Transport for London have revealed the number of cyclists using its two superhighway routes has risen by 70 per cent in the past year, with one of these being from Barking to Tower Gateway and the other from Merton to the City.

The mayor of London's transport advisor Kulveer Ranger said: "This research shows that people do believe the routes are of value, make them feel safer and are allowing them to take direct and continuous routes into Central London."

People living in the east of the capital may also enjoy cycling at high speed around the Olympic Velodrome, after riders from a club in the West Midlands recently told the evening standard the track is even faster than the one at the Manchester Cycling Centre.
net-lettings

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Help to Buy: the three words of the moment.

Help to Buy: the three words of the moment.  That's why we're running a seminar on this hottest of topics in November - when things should have calmed down slightly.  Watch out for your invitation.

In the meantime, where are we?  The current hoo-haa centres on Help To Buy mortgage rates, but at least we know what they are now.  NatWest and RBS are charging 4.99% for a two-year fixed rate mortgage, or 5.49% for five years.  Halifax has opted for 5.19% for a two-year fixed rate, on top of a ?995 free.

At least HSBC, Virgin Money and Aldermore have now all confirmed that they'll join the scheme 'later this year'.  As a John Charcol spokesman commented: ' I don't think rates will begin to fall until we get a decent amount of competition'. 

Elsewhere, fears of a property bubble are back, prompting the Royal Institution of Chartered Surveyors (RICS) to propose that the Financial Policy Committee of the Bank of England be given powers to limit house price inflation to 5%.  It believes that this would stem both reckless bank lending and excessive household debt. 

These are important issues, but what are the implications for those of us who invest in property?  Would this proposal help or hinder us?  As is so often the case, the answer is: 'it depends'.  What it depends on is how good you are at identifying the investments and returns on your properties.

If you buy a property that is in short supply now and is likely to remain so, if you buy it at the right price, and if you add value in the right way, you'll probably benefit from a RICS-style regulated market that is stable and certain.

If, however, you show less discernment in your purchasing, and particularly if you buy an expensive new build in a city centre that has shown limited price growth, then strict control of house price inflation will undoubtedly be bad news.

Investors who regard property as an alternative pension pot, hoping to harvest both capital growth and income would be particularly vulnerable to a housing inflation cap of 5%.

.gibbs-gillespie.

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London Property News Headline

A new recycling scheme in Barnet seems to have been a huge success after only being implemented for a week. 

Within the first seven days of the council's new scheme, 897 tonnes of rubbish has been taken for recycling, prompting the cabinet member for the environment, Jack Cohen, to thank borough residents for following the new recycling guidelines.

A total of 777 tonnes of co-mingled recycling was picked up from homes in Barnet during the first week of the scheme. This is in comparison to the 350 tonnes of recycling that would usually be collected in a week under the former scheme. 

However, this figure is increased because the first week of the scheme collected a fortnight's worth of recycling, which would usually equate to 600 tonnes of recycling. The rise is still welcome and it is hoped that residents will continue to adhere to the new scheme and recycle more of their household waste to reduce the amount of rubbish that goes to landfill.

On top of the household rubbish, 120 tonnes of food waste was also collected from brown bins throughout the borough during the first week of the scheme. The in-sourced recycling service collected the refuse that will no longer go to landfill.

Councillor Cohen said: "I am delighted and grateful that residents have recycled so much this week. I am particularly pleased with the amount of food waste we have collected. This is a completely new service and almost all of this would have ended up in landfill in the past."

Although the recycling scheme has been successful, the first week of implementation has seen some problems. Some residents have continued to put their bins out on old collection days, while others are expecting both their recycling and other waste to be collected at the same time on the same day, which is not the case as there are two separate lorries.

"I wouldn't pretend that this has been a glitch free week but the enthusiasm of residents for the new service has been a great help. The most common complaint we have had over the last week is 'where is my new bin'. Residents want to be recycling more," continued councillor 


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Zero holiday road toll just the start for safety goals

A zero road toll this Labour weekend would break a 36-year record, but police say it's not just the number of fatalities they want to cut.

The official holiday period ends at 6am tomorrow. But as of last night, the long weekend road toll remained at zero, on track to be lowest since records began in 1977, when two people died.

The annual road toll is also lower than this time last year. On Friday, the toll stood at 202, compared with 235 on the same day in 2012.

The holiday weekend hasn't been without incident on the roads, however. Emergency services were called to Kahikatea Flat Rd near Kaukapakapa, 50km northwest of Auckland, at 7.45am yesterday after six of 30 cyclists were bowled off their bikes.

Waitemata police spokeswoman Beth Bate said that as a car passed, a cyclist on the outside of the group moved in to make room. The cyclist knocked the person beside them, who in turn knocked others off their bikes.

One cyclist was taken to hospital with moderate injuries. The other five suffered minor injuries.


National road policing manager Superintendent Carey Griffiths said it would be "awesome" to end the weekend fatality-free and without any serious injuries.

"A zero road toll would be absolutely fantastic, but the only problem is when you talk about the toll, it's easy to lose sight of the people who get seriously injured," he said.

"Whilst no one has died, there are people who will be injured, and for whom the road to recovery will be long and painful."

During Labour weekend last year, six people were killed in three crashes and a further 22 suffered significant injuries.

"Every year in New Zealand, 2700 people are hospitalised for more than a week as a result of motor vehicle crashes," Mr Griffiths said.

Many of those were passengers.

"For goodness sake, make smart choices about who you get into the car with. Too many passengers are being killed on our roads. It's really important to never get in a car with someone who drives like a clown or has been drinking. "

Statistics released by the Automobile Association on Friday show that drink-driving is the leading cause of road deaths over Labour weekends.

From 2010 to 2012, 14 of the 22 people who died were in crashes where a driver was drunk.

"Two-thirds of the people killed on the roads over the last three Labour weekends have been in crashes involving alcohol," said AA spokesman Dylan Thomsen.

"That is 14 people who might well have been alive today if a driver had stayed sober.

"There have also been 104 people injured in Labour weekend crashes where a driver has either been drinking or taking drugs."

Mr Griffiths said it appeared motorists were taking more care on the road, with fewer speeding.

While it would be several months before the figures on the number speeding tickets issued were available, he said, motorists appeared to be taking notice of the police lower speed enforcement.

During long weekends and holiday periods, the speed tolerance drops, meaning anyone caught travelling at 4km/h faster than the posted limit is fined.

"What we've found is that driver behaviour has changed," Mr Griffiths said. "When the speed limit comes down, fewer people speed. People drive better."

nzherald

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'We've got peace of mind to 2016 … and £40 cashback': These are the best energy fixed-price deals – but act NOW

More than 20?million households will see their gas and electricity bills rise by up to ?141 a year unless they switch now to a fixed deal.
But there are many fixes on offer - so The Mail on Sunday is here to guide you to the best deals. 
How can I avoid  soaring bills?
The only way you can get protection from price rises is to opt for a fixed tariff, which freezes unit prices, some for up to four winters. 
Winter warmer: Nicola and Gareth Kear have gone for a longer fix
We've got peace of mind to 2016 … and ?40 cashback
Fears about ever-increasing energy prices spurred Nicola Kear, 26, and her husband Gareth, 29, a civil servant, to leave their current fixed tariff deal for a longer term one.
The couple, who live in Portsmouth, were on a dual-fuel energy plan with ScottishPower that was fixed until April 2014.
However, they have now switched to a deal with First Utility, fixed until January 2016.
Nicola, who works in financial services, says: 'We recently moved home and are thinking about starting a family so we wanted the peace of mind of a longer fix.'
Luckily for the couple they did not have to pay an exit penalty to leave their deal early.
They are benefiting further as they signed up to the new contract via the Quidco cashback website so they will receive ?40.
The shorter fixes are usually ?150 a year cheaper, but over time a longer fix typically works out better. If prices continue their upward trend, a four-year fix could save the average household ?1,494, says comparison website Energyhelpline. 
What are the best  fixed deals?
The cheapest deal currently is First Utility's iSave Fixed v11, running to the end of May 2015. It would cost the average household ?1,172 a year, but comes with a cancellation fee of ?30 for both gas and electricity.
The cheapest fix with no exit penalty is EDF Energy's Blue+Price Promise, which runs to the end of March 2015. The average bill would be ?1,183 a year. The longest fixed deal is npower's Price Protector, running until the end of December 2017. It will cost the average household ?1,367 a year, with no exit fee.

More...
Energy bill busters: Eight easy steps to cutting your winter fuel costs
Energy bills: As prices rise for winter, is it really worth switching and where are the best fixed rate deals?
See if you could save money on your energy bills by ditching your provider
But it is important to act fast as the best deals are disappearing quickly. Mark Todd, director of Energyhelpline, says: 'No one else will fight for you - if you want cheap energy you need to compare prices and fix, and do it now.'
Dose fixed really mean fixed?
In the past, suppliers have been able to increase prices on fixed deals mid-contract. But new rules brought in last week from energy watchdog Ofgem banned this for any fixed-term contracts taken out since July 15. 
Suppliers will also be banned from automatically rolling a customer over on to another fixed-term contract. Instead they must put them on their cheapest variable tariff. Before a fixed deal ends, customers will be given a penalty-free 'switching window' of up to 49 days.
My current fix is coming to an end. Should I worry?
Thousands of households could see their bills soar this week as seven fixed deals come to an end. 
Six of ScottishPower's plans expire on Thursday, including its Online Energy Saver 20, along with npower's Energy Online October 2013.
Customers on these plans who don't take the opportunity to move to another fix face rises of up to 20 per cent because most of the cheapest variable rate deals are already more expensive than a fix - even before the coming price rises.

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