Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – fell more than expected in May, according to figures published today. Official figures revealed machinery orders fell by 9.1% in May compared with the previous month – the steepest fall since August 2008 – as companies held [...]
The Office for National Statistics (ONS) today reported business investment in Britain soared in the first quarter of the year, suggesting the economic recovery is gathering pace. According to the ONS, business investment grew 7.8% to £29.14 billion in the period – an improvement on the 6% increase initially reported, but 7.7% down on the [...]
The Commerce Department has today revealed the US economy grew by an annualised 2.7% in the January to March period – slightly lower than the 3.2% previously estimated. This figure is the third and final estimate and the downward revision was due to a slower rate of business investment and consumer spending. However, it still [...]
The Office for National Statistics (ONS) has today reported a sharp fall in business investment. According to the ONS, business investment fell by 4.3% in the fourth quarter of 2009 to £27.3 billion – the steepest annual fall since records commenced in 1967. Meanwhile, on an annual basis, business investment fell by a record 23.5%. [...]
Last month, the Office for National Statistics (ONS) revealed the UK crawled out of recession in the fourth quarter by seeing growth of just 0.1% in the final three months of 2009. However, the figures were only the first estimate and the second estimate is to be released this morning. Yesterday, the ONS reported a [...]
The Office for National Statistics (ONS) has today reported a sharp fall in business investment, raising concern over the second estimate of fourth quarter GDP figures, which are due to be published tomorrow. According to the ONS, business investment fell by 5.8% in the fourth quarter of 2009 to £27.1 billion – the steepest annual [...]
The Office for National Statistics (ONS) has today revealed some positive news for the UK economy after GDP contracted by 0.7% in the April to June period – rather than the 0.8% previously reported. The 0.7% fall is also a considerable improvement on the 2.4% contraction in the January March quarter. Meanwhile, the year on [...]
Business investment in Britain fell by 10.4% in the April to June period – the biggest quarterly fall since 1985. Official figures show that the amount spent by businesses on a range of investments, such as new computers and building works, fell to £29.8 billion during the period. According to economists, the figures will raise [...]
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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