The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence has plunged after March’s earthquake and tsunami. The index turned negative for the first time in more than 12 months with companies gloomy about the future. The key index fell to a reading of -9 from a positive reading of 6 [...]
Japan’s industrial output recovered further last month after a record drop in March due to the earthquake and tsunami. Disruptions caused by the twin disasters resulted in carmakers being forced to halt production as a result of parts shortages. However, it looks as if the situation is improving for manufacturers after output rose at a [...]
Japan’s industrial output recovered slightly last month after a record drop in March due to the earthquake and tsunami. Government figures show factory output rose by 1% in April, however, this was lower than the 2% expected by analysts. Furthermore, it was 14% lower compared with April last year. However, according to analysts, today’s figures [...]
Japanese carmakers have been hit as a result of the earthquake and tsunami in March. Figures today revealed Toyota, the world’s largest carmaker, said production plunged 74.5% in April on an annual basis. Meanwhile Honda’s output fell 81% on an annual basis, while Nissan suffered a 48.7% fall as they were forced halt production as [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp fall in UK car production for the month of April, disrupted by supply shortages, resulting from the Japanese earthquake and tsunami. Japan’s three major carmakers (Toyota, Nissan and Honda) all have operations in the UK, with the latter halving its [...]
Japanese shares rose more than 3% earlier today following some much needed good news. Stock markets were boosted by the news that Japanese carmakers, Toyota and Honda, may restart production this week, while it was revealed that progress is being made in containing radiation leaks. In the aftermath of the earthquake and tsunami on 11 [...]
Last week’s earthquake and tsunami which hit Japan are set to cause “considerable” economic impact as the country faces a massive clean-up operation, a potential nuclear meltdown and power shortages. However, analysts have today said the world’s third largest economy will recover later this year. Over the weekend, the Japanese Government spoke of the 8.9 [...]
The Office for National Statistics (ONS) revealed that the UK’s trade deficit widened to £7.2 billion in September from a deficit of £6.1 billion the previous month and well above analyst expectations of a £6.1 billion deficit. The rise was attributed to a rise in car imports as the cash for bangers scheme helped foreign [...]
Carmakers are concerned that sales of new cars will decline once the successful scrappage schemes come to an end. The BBC has reported that Ford and Toyota want the UK Government to extend the scheme. The schemes, which were implemented to boost car sales, have been successful after the Society of Motor Manufacturers and Traders [...]
The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars. This has affected carmakers worldwide with many cutting back on production, slashing jobs and seeking funding to see them through the downturn. Jaguar Land Rover (JLR), the Midlands carmaker, is no exception and according to The Sunday Times, [...]
There is now a definitive separation between car firms Daimler and Chrysler after the German carmaker has reached a deal to give up its 19.9% stake in the US firm. The agreement will also see Daimler forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statements, said [...]
New analysis from Tokyo Shoko Research has revealed a 15.8% rise in corporate bankruptcies in Japan, compared with the previous year. For the year to 31 March, the number of bankruptcies among listed companies in Japan hit a record high for any financial year since the Second World War, according to Tokyo Shoko Research. 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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