The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas fell in November – the fifth consecutive monthly decline, albeit a smaller drop than expected. According to the index, house prices were 0.5% lower in November on the month and followed October’s decline of 1%. November’s level was just 1.2% higher than the 90-month low [...]
Brazil appears to be bucking the trend after creating 1.3 million jobs last year – when other economies have battling with rising unemployment. The economy has been going from strength to strength, growing by an annualised rate of 5%. The country’s labour minister expects to create a further 2 million jobs in 2010 and, as [...]
According to the Commerce Department, consumer spending in the US rose 0.4% in November compared with the previous month. The rise represented the fifth consecutive monthly gain, raising hopes that the world’s largest economy is on the road to recovery. Consumer spending makes up for more than two-thirds of overall economic activity in the US [...]
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales fell by 11.5% in November compared with the same month in 2009. It represents the fifth consecutive monthly fall and came despite the forthcoming VAT hike, which was expected to boost sales towards the end of the year. The SMMT said [...]
According to housing intelligence group, Hometrack, house prices in England and Wales fell for the fifth consecutive month in November. According to Hometrack, house prices fell by 0.8% on the month in November to £155,000. The ongoing fall in values continues to be the result of a higher level of instructions on the market and [...]
The Bank of England has revealed mortgage approvals fell for the fifth consecutive month in September. According to the Bank, there were 47,474 loans granted in the month – the lowest level since February. The figure continues to be well below the 60,000 reached in November 2009 as buyers took advantage of the stamp duty [...]
According to the Commerce Department, consumer spending in the US rose for a fifth consecutive month in February, by 0.3%, as widely expected. The rise in consumer spending, which makes up for more than two-thirds of overall economic activity in the US, followed a revised 0.4% rise in January. According to the data, consumers increased [...]
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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