London’s Wealthy Seek Slice Of Downton As Prices Rise

Staying with the Scandinavian theme, Jack Thornes stage version of Let The Right One In a vampire horror drama based on the novel by John Ajvide Lindqvist and subsequent film will be casting its chilly spell over Londons leading new writing theatre, the Royal Court, from 29 November. But those looking for new writing with a distinctly British flavour could head north, to the Tricycle Theatre in Kilburn, for Moira Buffinis Handbagged, in which the Iron Lady and former Prime Minister, the late Margaret Thatcher faces down the Queen. It plays until 9 November. For something sillier, and as English as warm beer and cricket whites, punters with a taste for nostalgia can opt for Jeeves and Wooster: Perfect Nonsense at the Duke of Yorks, running from 30 October. Romantics will struggle to resist Jumpers for Goalposts, a touching gay love story among the players on a hopeless pub soccer team, by the rising young writing talent Tom Wells. It plays at the Bush the diminutive fringe new-writing venue with a mighty reputation from 26 November. Likely to be far knottier is nut, the new play by incendiary writing talent debbie tucker green. The lower-case styling of her name and the works title are indicative of her terse intensity; her previous pieces, jaggedly poetic dramas on subjects including urban street violence and domestic abuse, have been short, sharp and shocking. nut about which advance publicity reveals little, but which may, judging by the cryptic clues, have to do with identity and psychological disorder runs at the Shed, an experimental pop-up space at the National Theatre, from 30 October. Booking for it may be something of a blind date, but on tucker greens past form its well worth the gamble. For the more risk-adverse, three plays of established excellence return. Arnold Weskers Roots, the centrepiece of his great Socialist trilogy, is at the Donmar. And Mojo, the play about London gangland that made the name of writer Jez Butterworth (Jerusalem) and was a key text in the hugely influential 1990s In-Yer-Face drama movement, returns to the West End, staged by Ian Rickson, who directed the original Royal Court production. The cast includes Ben Whishaw, and previews kick off 26 October at the Harold Pinter Theatre.

These buyers, attracted by mansions a short walk from Harrods and Buckingham Palace, helped push the price of luxury homes in central London up 23 percent since their last peak in the autumn of 2007. Prices of prime country homes remain down 20 percent, according to Knight Frank. Now the recovery is spreading beyond London. The number of homes sold in the U.K. reached the most in nearly four years in July, according to the Royal Institute of Chartered Surveyors . That helped push the value of prime country homes up for the third consecutive quarter, Knight Frank said. House prices in affluent areas about an hour from London climbed 1.6 percent during the three months, while those in the remainder of the south of England climbed 1.2 percent, according to Savills. Homebuilders Rise U.K.s homebuilders have been among the biggest beneficiaries of revived housing demand. An index of the companies rose 0.9 percent today to close at the highest in two months. That extended its advance to 48 percent this year, compared with a 10 percent gain for the FTSE 100 Index . Persimmon Plc , the largest U.K. builder by market value, rose the most in almost two months on Oct. 9 after Goldman Sachs Group Inc. said the stock may increase by 70 percent within six months. Homebuilders are increasing productivity to satisfy new demand, which may be a mixed blessing for country estates.

JPMorgan pays $100 million, admits fault in London trades

The stunning trading losses that surfaced in April 2012 shook the financial world and damaged JPMorgan’s reputation. The CFTC deal differs from the previous agreement because JPMorgan is formally acknowledging that its traders recklessly distorted prices to reduce the banks’ losses at the expense of other market participants. In the SEC agreement, JPMorgan admitted only that it failed to supervise those traders. The bank “recklessly disregarded the fundamental precept on which market participants rely: that prices are established based on legitimate forces of supply and demand,” the CFTC said in a news release. According to the agency, JPMorgan traders in London sold off $7 billion in derivatives tied to a price index of corporate bonds in one day – including $4.6 billion worth in a three-hour span. Derivatives are investments whose value is based on some other investment, such as oil and currencies. JPMorgan was betting that the price of the index would drop. When the traders sold their derivatives, the price of the index plunged. That was a “staggering volume” and the most ever traded by the bank in one day, according to the CFTC. The traders realized that the huge volume of the derivatives they had amassed could affect the market, and they decided to do so, the agency said. The agreement marks the first time the CFTC used a new legal authority from the 2010 financial overhaul law that is designed to prohibit reckless market conduct. Enforcement Director David Meister said the agency now is “better armed than ever to protect the market.” New York-based JPMorgan, in a statement, said “We are pleased to be able to put behind us another aspect of the … trading matter by the resolution of the CFTC investigation.” In addition to paying the $100 million, JPMorgan agreed in the settlement to continue to take steps to tighten its oversight of derivatives trading with an eye to reducing risk.