The value of the Swiss franc continues to rise today as investors regard it as a safe haven amid the economic turmoil. Today, the US dollar hit an all-time low against the Swiss franc, while rising against the euro to 1.0917. A report from the Bloomberg news agency suggests the franc is higher this year [...]
European equities markets were down again Friday even though the US Labor Department reported that the economy there added 117,000 new jobs in July, cutting the US unemployment rate to 9.1 percent. The FTSE 100 was down 2.71 percent to 5,246.99 in London, while the FTSE 250 dropped 2.44 percent to 10,313.1. All banks were [...]
Equities markets were significantly lower in Europe Thursday on expanding concerns that the economic recovery is slowing globally. The Bank of England and the European Central Bank both held interest rates steady, at 0.5 percent and 1.5 percent respectively, while ECB President Jean-Claude Trichet said that the ECB has started buying bonds again. The FTSE [...]
European equities markets were down again Wednesday after the Institute for Supply Management’s non-manufacturing index was at 52.7 in July, against an expected rise to 53.5 after being at 53.3 in June, and after both Moody’s Investors Service and Fitch Ratings warned that the US credit rating could still be downgraded if lawmakers do not [...]
European equities markets were lower Tuesday on fears that growth in the US economy is slowing and will hurt the global economy after the Commerce Department reported that consumer spending was down by 0.2 percent in June, the first decline in nearly two years. The FTSE 100 was 0.97 percent lower to 5,718.39 in London, [...]
European equities markets were lower Monday despite news that US lawmakers have reached a deal regarding raising the US debt ceiling, as the Institute for Supply Management said its US factory index was at 50.9 in July, from 55.3 in June, close to the level indicating contraction rather than expansion of factory activity. The ISM’s [...]
European equities markets were lower Friday after a vote on a Republican proposal toward raising the US debt ceiling was postponed Thursday in the House of Representatives, making it more likely that a plan will not be put in place by a deadline next week, while the US Commerce Department reported that the US gross [...]
European equities markets were mixed Thursday as companies in various sectors turned in disappointing quarterly reports and on concerns that legislators in the United States still has not come to an agreement regarding raising the debt ceiling. The FTSE 100 was 0.28 percent higher to 5,873.21 in London, while the FTSE 250 dropped 0.3 percent [...]
Equities markets were lower in Europe Wednesday as investors continued to worry about the ongoing controversy in the United States regarding the debt ceiling there, while a drop in US durable goods orders in June over may also caused concerns. The FTSE 100 was down 1.23 percent to 5,856.58 in London, while the FTSE 250 [...]
European equities markets were mixed Tuesday as some individual stocks declined on missed analyst estimates, and on growing concern that US legislators will not come to an agreement on raising the debt ceiling there, risking a default by the United States on its debt. The FTSE 100 saw gains, but was only up 0.08 percent [...]
Banks were the biggest decliners as European equities markets were mostly lower Monday after Moody’s Investors Service again downgraded Greece’s credit rating, this time by three notches to Caa1 just a few days after Fitch Ratings declared Greece to be in “restricted default”, and on the inability of US legislators to come to an agreement [...]
European markets were higher Friday after the European Union agreed on Thursday to a new plan to help debt-plagued Greece. The FTSE 100 was up 0.6 percent to 5,935.02 in London, while the FTSE 250 added 0.97 percent to 11,820.3 as most primarily saw gains but most homebuilders were lower. The travel and leisure sector, [...]
European equities markets were higher Thursday on media reports that a draft document coming out of the European Union summit in Brussels calls for extending repayment periods on bailout loans to Greece from 7.5 years to 15 years and for new loans to be offered to Greece at an interest rate of 3.5 percent. The [...]
Equities markets were higher in Europe on Wednesday as banks advanced ahead of a meeting of the European Union on the region’s debt problems, and on hopes that debt concerns in the US will be avoided by an agreement on what to do with the debt ceiling there. The FTSE 100 was up 1.1 percent [...]
European equities markets saw gains Tuesday, helped by data from the United States as computer giant IBM (NYSE: IBM) said sales were above analyst expectations and issued an improved profits outlook for the full year and by a Commerce Department report that showed US housing starts up 14.6 percent in June while permits for new [...]
The price of gold has risen to a fresh all-time high of $1,610 an ounce on the back of US and euro zone debt worries. As debt concerns in the US build, the dollar continues to weaken and the price of gold typically moves in the opposite direction to the precious metal. Some believe gold [...]
European equities markets were lower Monday on concerns that the debt crisis there will spread and on investor concerns about banks after JPMorgan Chase said that 20 European banks could need to raise up to €80 billion in new capital after 8 out of 90 banks subjected to stress tests did not pass. The FTSE [...]
Equities markets in Europe were mostly lower Friday on concern over stress tests of banks there by the European Union, and on new data from the United States showing that consumer confidence there is down this month in preliminary readings and that industrial production in the US grew less than expected. The FTSE 100 was [...]
European equities markets were lower Thursday as the Italian Senate voted on budget cuts and after Fitch Ratings cut Greece’s credit rating and said that default was a real possibility for that country. The FTSE 100 was down 1.01 percent to 5,846.95 in London, while the FTSE 250 dropped 0.65 percent to 11,766.6 as declines [...]
The price of gold rose to an all-time high of $1,589.56 an ounce in early trading today, before falling to $1,584.51. The dollar also fell against the Japanese yen and a weakening US dollar typically results in a rise in the price of gold as the currency generally moves in the opposite direction to the [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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