The Confederation of British Industry (CBI) is calling on the Government to launch new initiatives to boost the ailing housing market, suggesting it could help economic growth. The business lobby group wants Chancellor George Osborne to launch the fresh initiatives in his autumn statement, which will be delivered later this year. In a speech to […]
According to the latest Confederation of British Industry (CBI) distributive trades survey, the volume of sales on the UK High Street were lower this month versus a year ago. The figures suggest continue to be cautious about the economic outlook and rein in their spending on the back of rising unemployment, higher inflation and slow […]
UK retail sales volumes fell in August, at the fastest pace for over a year, the Confederation of British Industry (CBI) reports. In a new quarterly survey, 46% of retailers said they had experienced falling sales in the two weeks to mid-August (compared with a year earlier) and the level of negativity registered over prospects […]
UK manufacturers are reporting healthy order books and expectations for output growth remain above their long-run average, despite being less strong than earlier this year. New research from the Confederation of British Industry (CBI) also indicates that pricing pressures have eased following strong inflation during the first six months of 2011. Expectations for growth in […]
The Confederation of British Industry (CBI) has today revised its growth prospects for the UK Economy. The employera��s group is now forecasting growth of 1.3% this year, down from its May forecast of 1.7%. Meanwhile, it is still expecting growth of 2.2% in 2012 a�� unchanged from its previous forecast. The CBI has also suggested […]
A quarterly survey of the UKa��s financial services sector by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) has revealed business volumes grew in the three months to the end of June, albeit at a slower rate. Companies were asked how their business volumes fared in the second quarter with almost half saying volumes […]
According to the latest Confederation of British Industry (CBI) distributive trades survey, retailers continue to be cautious about the economic outlook despite a rise in retail sales in May. The CBIa��s survey established that the sales balance fell to +18 this month from +21 in April a�� easily beating analystsa�� expectation of a reading of […]
A quarterly survey of the UKa��s financial services sector by PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI) has revealed that business volumes grew in the three months to the end of March. The financial services sector, which represents around 8% of GDP, has been badly affected by the credit crunch and debt crises […]
The Confederation of British Industrya��s (CBI) industrial trends survey today revealed factory orders growth picked up pace in March. The surveya��s total order book balance accelerated in March to +5 from Februarya�?s -8, easily beating expectations of a reading of -6. The reading represented the highest since March 2008, according to the lobby group. Furthermore, […]
The Confederation of British Industry (CBI) is urging Chancellor George Osborne to provide a “relentless focus” on economic growth and job creation when he presents his annual budget later this month. In a letter to the Chancellor, the business lobby group said action must be taken in order to boost the economic recovery. Over recent […]
Discount clothing retailer, Primark, has today warned of a slowdown in consumer spending, as Britons prepare to cut back amid rising unemployment and higher inflation. According to Primarka��s parent group, Associated British Foods (ABF), “a noticeable slowing down of UK consumer demand” is evident despite strong trading in the first three months of the financial […]
According to the latest Confederation of British Industry (CBI) distributive trades survey, retailers are concerned about consumers tightening their purse strings amid rising inflation. The CBIa��s survey established that the sales balance fell to +6 this month from +37 in January – far below expectations of a +30 reading. Furthermore, retailers expect sales growth to […]
The Confederation of British Industry (CBI), has today warned of a grim outlook for the UK economy. The business lobby group said inflation will remain stubbornly high and economic growth will be sluggish. It is forecasting a further rise in unemployment, with the jobless rate rising to 8.4% this year, from 7.9% at the end […]
Employersa�� group, the Confederation of British Industry (CBI), has today warned about the implications of breaking up the countrya��s banks. Its warning comes as the Independent Commission on Banking (ICB) continues to look into the possibility of splitting up the big banks – a move which could increase competition and choice among high street banks. […]
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.7% in the July to September period a�� down from its previous estimate of 0.8%. On an annual basis, meanwhile, growth was also revised down to 2.7% from 2.8%. Both figures surprised economists who had expected quarterly and annual growth to […]
Employersa�� group, the Confederation of British Industry (CBI), has today revised down its economic growth forecast for the UK. The group said stubbornly high inflation and public sector job cuts will slow the economic recovery with growth falling to just 0.2% in the first quarter of 2011. However, it does not expect the UK fall […]
The Confederation of British Industrya��s (CBI) December industrial trends survey today revealed further good news for the sector after overseas demand surged to a 15-year high. The pound gained following the news which revealed firms experiencing above normal demand from overseas was 4% – a significant improvement on the previous montha��s -7% and the highest […]
The Confederation of British Industry (CBI) has today confirmed John Cridland will take over the role as director general, when Richard Lambert steps down in January. Earlier this year, Mr Lambert said he would step down when his five-year term ends at the start of 2011. Mr Lambert has been with the lobby group since […]
According to a survey from the Confederation of British Industry (CBI), small manufacturers are expecting to increase production in order to meet higher demand. The CBI survey, which questioned 382 businesses, established that a balance of 19% of firms expect to raise output – higher than the 9% balance in the previous three months, According […]
A survey by the Confederation of British Industry (CBI) has revealed factory orders slumped in October at their sharpest pace since April. The industrial trends survey’s total order book balance fell to -28 this month, from -17 in September – lower than expectations of a reading of -19. In the meantime, the output expectations balance […]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was A?741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. […]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees […]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to A?12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on […]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages […]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The a�?Mind the Credit Gapa�? report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than A?50,000 could have a credit […]
Monthly incomes A?22 lower in 2012
The average monthly income of UK households fell by A?22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE […]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was A?1,186, more than double the average savings […]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though […]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Companya��s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailersa�� sites in the near future. Although the Paylater branding is similar to Wongaa��s, the Wonga name only appears in the small print. A […]
First-time buyers take a decade to save for a deposit
Before the credit crunch it took first-time buyers two to four years to save up a deposit for a property but a quarter of first-time buyers now say it will take them at least ten years. In its latest Property Tracker report, the Building Societies Association (BSA) suggests that since September 2010 raising a deposit […]
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