The Confederation of British Industry’s (CBI) industrial trends survey today revealed factory orders growth picked up pace in March. The survey’s total order book balance accelerated in March to +5 from February‘s -8, easily beating expectations of a reading of -6. The reading represented the highest since March 2008, according to the lobby group. Furthermore, [...]
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 [...]
The Labor Department has today revealed the US unemployment rate remained unchanged at 9.7% in February and lower than the 10% rate reported in December. According to the Labor Department, employers cut 36,000 jobs last month – fewer than the 50,000 analysts had been expecting and compares to a revised 26,000 job cuts in January. [...]
The National Association of Realtors (NAR) has revealed a fall in sales of previously owned homes in the US for the month of January, suggesting the extension of the $8,000 tax credit for first-time buyers is having little appeal. The industry body said sales agreements fell 7.6% in January compared with December and the index [...]
The National Association of Realtors (NAR) today said its Pending Home Sales Index fell sharply by 16% in November to 96.0 from 114.1 in October, ending a nine-month rise. The NAR attributed the fall on the end of a rush to beat the original expiration of the $8,000 tax credit for first-time buyers. The tax [...]
Figures published today by the Labor Department revealed that the US economy lost fewer jobs in November with the unemployment rate falling to 10% from a rate of 10.2% in October. Figures show that US employers cut the lowest number of jobs during the month since the onset of the recession two years ago. The [...]
Figures released by the Confederation of British Industry (CBI) today revealed a significant fall in manufacturing orders in July. According to the CBI, orders fell at their fastest rate since January 1992, raising new concerns about the state of the economy. In its quarterly health check of industry, the CBI found that in the three [...]
Official figures from the Commerce Department have revealed that the world’s largest economy contracted at its sharpest rate in over 26 years in the last three months of 2008. The figures show that US economic output plummeted 3.8%, the worst quarterly contraction since 1982, when output fell by 6.4%. While the figure was not as [...]
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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