In its influential Quarterly Bulletin, the Bank of England said interest rates can be held at the historic low of 0.5% in order to prevent growth from stalling. The statement comes despite inflation being more than double the target of 2% and many business groups are calling on the bank to lift rates to combat [...]
The Commerce Department has today said US retail sales grew by 0.4% in July – boosted by an increase in car sales. The figures were much needed after two months of declines. However, the figures were less than the 0.5% rise analysts had expected. US retail sales are closely-watched as consumer spending makes up for [...]
Eco-tycoon Dale Vince is poised to take over cash-strapped football club Forest Green, according to media speculation. Vince, 48, built his £85 million empire on wind power, making him Britain’s wealthiest green entrepreneur. He is understood to have met up with Forest Green’s executives, including chairman David Drew, operations director Colin Peake and manager Dave [...]
Official data has revealed US consumer prices rose by a slower-than-expected 0.2% in January. On an annual basis, prices were up 2.6% – also below expectations. The increase was the result of a hike in energy prices, which rose for the ninth month in a row. Over the last year, energy prices have soared 19.1%, [...]
London’s FTSE 100 rose to its highest level this year after the price of gold hit a fresh record high today of $1,132.95 an ounce. Increasing demand from emerging markets has been pushing up the price of the precious metal over recent weeks. Furthermore, gold traditionally rises during the October to December period as the [...]
Pensioners over 75 saw a sharp drop in inflation last month, new figures show. Statistics released by the Alliance Trust Research Centre reveal that inflation for people in this age bracket dropped from 3.6% in May to 2.8% in June. This is the lowest rate of inflation experienced by over 75s since January 2008, although [...]
British householders are wasting over £1.5 billion every year on energy bills by not shopping around for the cheapest supplier. Research by uSwitch.com found that customers on standard energy plans pay £185 per year on average than those who have an internet-based energy account. Despite this, only 5% of households currently use an online energy [...]
US consumer prices have fallen by 0.1 percent last month, whilst the Federal Reserve forecasts indicate that inflation will continue to fall, as the consumer price index (CPI) decreased 0.1 percent compared with the 0.1 percent increase forecast by analysts. In the 12 months between March 2008 and March 2009 prices have fallen by 0.4 [...]
Two in five UK consumers were ‘shocked’ at the price of their energy bill this winter, whilst a tenth of consumers cannot afford to pay it, new research by moneysupermarket.com has revealed. The coldest winter in a decade, coupled with soaring energy prices, left many householder a gasp when they opened their heating bill. A [...]
According to official figures, UK inflation hit 5.2% in September, the highest level since March 1992, and more than twice the Government’s target of 2%. Higher food and energy costs this year have been blamed for the surge in inflation this year. The Office for National Statistics said the annual rate of inflation for energy [...]
Over 10 million homes in Britain are to benefit from a government initiative to help reduce fuel bills. With gas and electricity costs soaring in recent months ministers have been under pressure to introduce a windfall tax on utility providers as a means of funding cash handouts to the nation’s poorer families. However, the idea [...]
Official inflation statistics published by the Labour Department have revealed that US inflation has hit the highest point for 17 years. Prices in the US increased by 5.6% in the 12 months to July and the rate of inflation was much higher than economists had forecasted, pushed higher by the increases in energy prices and [...]
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, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
