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News Tag: delay

July 12, 2010

UK Q1 economic growth figures remain unchanged

by Kay Murchie
The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.3% in the January to March period – unchanged from the previously estimated figure, but marginally higher than the first estimate of 0.2%. Analysts had expected GDP to remain unchanged in the first quarter but many economists believe that economic growth will fall back over the latter ...

May 30, 2010

BCC warns of new double-dip risk

by Kay Murchie
The British Chambers of Commerce (BCC) has warned there is a risk of a double-dip recession (whereby the economy goes into recession twice without having undergone a full recovery in between). The warning from the business group comes as it said the Government should delay making big spending cuts as the recovery is still weak. Last week, Chancellor George Osborne unveiled details of ...

May 17, 2010

Prudential presses ahead with record £14.5bn cash call

by Kay Murchie
Prudential, which is Britain’s second largest insurer, has today outlined details of its £14.5 billion ($21 billion) rights issue, which will be used to help fund its acquisition of AIA, the Asian arm of US company American International Group (AIG). Earlier this month, fears were raised over the acquisition after the Financial Services Authority (FSA) intervened causing a delay to ...

May 6, 2010

BoE delays interest rate decision

by Kay Murchie
The Bank of England’s Monetary Policy Committee (MPC) is to postpone its interest rate decision meeting. The Bank was set to hold its two-day rate-setting meeting on 5 and 6 May but it will now be held on 7 and 10 May, as a result of today‘s general election. However, the Bank is expected to keep UK interest rates on hold at the ...

March 10, 2010

FSA delays PPI reforms

by Kay Murchie
The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market. The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry. Under a PPI policy, an agreed sum of money is paid out each month to fully cover, or cover a percentage of ...

February 19, 2010

Senior economists support delay in spending cuts

by Kay Murchie
Despite calls from leading business groups to take urgent action with regard to spending cuts, Chancellor Alistair Darling, has received support to delay cuts until 2011. According to David Kern at the British Chambers of Commerce, the UK’s credit rating is being put at risk by the Government’s failure to act more quickly. However, over 60 senior economists have signed two open ...

February 3, 2010

Orange and T-Mobile merger under threat

by Kay Murchie
The planned merger between mobile phone giants, T-Mobile UK and Orange, is set to be investigated by the Office of Fair Trading (OFT). The OFT said the merger "threatens significantly to affect competition in mobile telecommunications in the UK". At the time of the proposed merger in September, the two phone giants said a deal would create the UK’s largest mobile phone ...

August 26, 2009

More than a third forced to delay retirement

by Kay Murchie
More than a third forced to delay retirement
A survey by pension advisers MGM Advantage has revealed that around 35% of people over 55 who are still working said they would put off plans to retire. Meanwhile, a further 23% of people in this age group are expecting to work past the state pension age of 65, while a third (32%) confessed to not being prepared for retirement. However, ...

May 18, 2009

Ford and Honda delay participation in car scrappage scheme

by Kay Murchie
The UK’s car scrappage scheme got underway today but it has been reported that Ford and Honda have delayed their involvement due to a dispute over VAT. The scheme, which was launched to boost the fall in demand for new cars, pays consumers to get rid of their old cars and replace it with a more environmentally friendly car. The ...

January 15, 2009

Credit crunch delays retirement for UK workers

by David Masters
Credit crunch delays retirement for UK workers
Nearly a quarter of UK workers expect that their retirement will be delayed because of the credit crunch. A survey of over 2,000 working adults by insurance provider Life Trust found 12% are considering putting off retirement for five years, 8% expect a delay of two to four years, whilst 3% will be forced to work an extra year. For workers close ...

July 21, 2008

Further delay in bank charges case

by Kay Murchie
Consumers who are looking to reclaim unfair overdraft charges will now have to wait a further six months after the Financial Services Authority (FSA) announced today that it is extending the waiver that allows banks not to pay out on claims. The FSA explained that it was extending the suspension of its normal rules, which require banks to deal with complaints ...