A new survey from global assurance, tax, transactions and business advisor Ernst & Young has found that while over a third of its respondents plan to expand into new global markets (35%), nearly half (41%) are not considering changing their payroll administration model. This despite 85% reporting that they want improvement in their current global payroll practices.

The mismatch, according to the report, Global Payroll: Myth or Reality, suggests that the 161 global senior payroll leaders responding to the survey “are skeptical about whether payroll providers can deliver a comprehensive global solution.”

A new report from Ernst & Young, Global Payroll: Myth or Reality, suggests that cost, vendor selection, loss of control or project management, geographic capability, and legal and regulatory requirements are the top five challenges to implementing a global payroll system for UK companies.

The findings add detail to the survey’s key conclusion that firms worldwide are “skeptical” that “a global vendor currently exists that can provide a truly global payroll solution.”

Serviced accommodation company Go Native has added to its growing London portfolio with the opening of new luxury serviced apartments in the heart of the City.

Centrally located just seven minutes' walk from Liverpool Street station, Go Native Shoreditch features one- and two-bedroomed apartments in a converted warehouse, combining original features with modern fittings and furnishings.

The apartments are ideal for business travellers and guests, and available on a long-or short-term basis.

For further information, see www.gonative.com

Average retail rents in Hong Kong will grow at a moderate rate of about 5% in 2013 despite robust retail sales growth in January and February, as retailers remain cost-sensitive in the face of high rentals, Jones Lang LaSalle’s latest Hong Kong Retail Market Report predicts.

After a volatile 2012, during which growth slowed to 9.8% – a noticeable drop from the record 24.9% in 2011 – retail sales grew by 15.8% year on year in January and February 2013.

This strong performance was supported by robust local consumption and the Chinese New Year holiday, which saw tourists up 13.5% year on year in Q1 2013, with the number from mainland China rising by 20.3%.

It is projected that the inbound tourism sector will grow 7% in 2013, attracting 52 million tourists into Hong Kong by the end of the year.

House prices in England and Wales rose by 0.3% during April, with London continuing to drive the headline rate of growth, according to new analysis.

Hometrack’s Monthly National Housing Survey found that demand in the capital had grown three times faster than supply over the last quarter. Some of the survey’s key indicators for London are now back to levels last seen in 2007.

Outside London, demand rose across all regions for the third month in a row. This follows the same pattern as last year, but without the external stimulus of a stamp-duty holiday.

A lack of housing for sale is a key feature of the market. For the last three months, supply of new housing has failed to keep pace with demand. April saw just a 2.8% increase in new homes coming to the market.

This supply/demand imbalance, says Hometrack’s director of research, Richard Donnell, continues to put upward pressure on prices.

The time-on-the-market indicator (the average time a property remains on the market before being sold) has fallen by almost a week since the beginning of the year, from 9.9 weeks in January to 9.1 weeks in April.

Partners in 11 countries have joined forces to launch the first pan-European 'MOOCs' (Massive Open Online Courses) initiative, with the support of the European Commission.