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03rd of September 2010
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News Tag: high

August 15, 2010

Research shows 1.2m taking out payday loan each year

by Kay Murchie
According to research by watchdog Consumer Focus, the number of people taking out a payday loan has quadrupled in the last 4 years. The consumer group said 1.2 million people are now taking out a payday loan every year - borrowing more than £1 billion. Payday loans are becoming more popular and are seen as attractive - particularly to ...

June 14, 2010

India’s inflation rate surges above 10% mark

by Kay Murchie

June 13, 2010

MPC member addresses inflation concerns

by Kay Murchie
Bank of England policymaker, Andrew Sentance, today said the Bank of England’s Monetary Policy Committee (MPC) faces some “interesting debates” in the latter half of 2010 as high inflation persists. The latest official data shows that British annual consumer price inflation (CPI) reached a 17-month high of 3.7% in April. The CPI inflation rate is a benchmark for the MPC but last week, ...

April 30, 2010

RBS chief admits bankers paid too much

by Kay Murchie
Chairman of the Royal Bank of Scotland (RBS), Sir Philip Hampton, has admitted that bankers’ pay is too high. However, while conceding that bankers’ pay is “astonishingly high”, he said it is difficult to defend the gap between what most people earned and what some bank staff were paid. Speaking to BBC Radio 4, Sir Philip said: "If we don't pay ...

February 18, 2010

Fed warns of higher unemployment

by Kay Murchie
Fed warns of higher unemployment
In its latest forecast for the world’s largest economy, the US central bank, the Federal Reserve, has said economic growth will be between 2.8% and 3.5% in 2010 - better than its previous forecast of 2.5% to 3.5%. However, the Fed has warned that despite strong growth for this year, unemployment will remain high. Earlier this month, the Labor Department said the US ...

December 4, 2009

Better deals for high loan to value borrowers

by Gill Montia
First-time buyers are finding it easier to get a foot on the property ladder, according to independent mortgage adviser, Mortgageforce.co.uk. Better deals for high loan to value (LTV) borrowers meant that in November, 14% of all transactions arranged by the online broker were for those buying their first home, compared to the usual 10%. The majority borrowed 85% of the ...

October 20, 2009

Chinese car production soars due to high demand

by Kay Murchie
Chinese state media has reported that annual car production in China has accelerated and topped the 10 million mark for the first time and is set to overtake the world's leading economies. Only the US and Japan (the world’s number one and two economies) have produced 10 million cars in a single year. China’s car industry has expanded rapidly ...

October 12, 2009

FTSE 100 reaches 2009 high

by Kay Murchie
FTSE 100 reaches 2009 high
The FTSE 100 Index rose to 5231.16 today - a new record for the year to date. London’s FTSE responded to strong gains seen on the Dow Jones Industrial Average last Friday, which hit a 12-month high. Since its low point in March this year, the FTSE 100 Index has risen around 50% with companies such as Marks & Spencer and Barclays seeing gains ...

September 28, 2009

Yen reaches eight-month high against dollar

by Kay Murchie
The yen hit 88.23 against the dollar today - the highest level since January when the currency hit a 13-year high of 87.10 per dollar. However, while a strong yen is good news for the economy, it makes Japanese exports less competitive - but means imports are more affordable to Japanese consumers. Earlier this month, BoJ Governor, Masaaki Shirakawa, said: “To give ...

May 3, 2009

Insolvencies at a record high

by Peter Charalambous
Individual insolvencies are at a record high with an average of 330 people going bust everyday, with the latest insolvency data for the first three months of 2009 showing a 19 percent year-on-year rise inclusive of Individual Voluntary Arrangements (IVAs) and bankruptcies. KPMG has stated that 51 per cent of people entering into IVAs are homeowners, which is a 34 percent increase from ...

April 30, 2009

April’s UK consumer confidence highest in a year

by Peter Charalambous
UK consumer confidence has rebounded for the third consecutive month bringing April’s consumer confidence to its highest level for more than a year. Research carried out by GfK NOP for the European Commission showed that confidence in the general economic situation was at -15, which was a 16-point improvement on the strongest previous assessed date back in August 2007. For the ...

April 7, 2009

Mortgage lenders remain cautious over loan-to-value ratios

by Gill Montia
Mortgage lenders remain cautious over loan-to-value ratios
The anxiously awaited recovery of the UK housing market is still blighted by mortgage lenders' demands for high deposits. Latest figures from financial website, Moneyfacts, show the number of home loans on offer increasing to 1,485, up from 1,398 in March. However, over two-thirds of the deals on the market require a deposit of at least 25%. The proportion is ...

February 4, 2009

Irish January jobless claims reach record high

by Kay Murchie
Figures from the Central Statistics Office (CSO) have revealed that the number claiming unemployment benefit in Ireland reached the highest monthly level on record in January. The CSO said 326,100 people made unemployment claims in January, up from 293,100 in December. Meanwhile, the CSO said the unemployment rate increased to 9.2% in January compared with a rate of 8.3% in December. January’s rate ...

January 9, 2009

US job losses highest since World War II

by Kay Murchie
Over half a million jobs were lost in the US in December, taking the jobless rate to 7.2%, up from 6.8% in November - the highest since January 1993. The figures have sparked concern that the world’s largest economy will be in recession for a long time to come. Figures from the US labour department said job losses for the 2008 ...

December 18, 2008

Public sector borrowing hits record £16bn

by Kay Murchie
Figures from the Office for National Statistics have revealed that the UK's public finances deteriorated sharply again in November, with net borrowing rocketing to a high of £16 billion. The figure was far higher than analysts expectations who forecast £13.7 billion. Borrowing for the first eight months of the financial year now totals £56.1 billion, compared with £29.2 billion at the same ...

November 12, 2008

UK unemployment at 11-year high

by Kay Murchie
Figures from the Office for National Statistics (ONS) have revealed that UK unemployment is at an 11-year high. According to the ONS, in the three months to September the number of people out of work in the UK soared by 140,000 to 1.82 million, the highest level since 1997. Meanwhile, claims for Jobseeker's Allowance rose by 36,500 to 980,900 in October, the highest ...

August 12, 2008

Hopes of future rate cuts dashed as inflation reaches 4.4%

by Kay Murchie
Official figures have revealed that the UK’s annual rate of inflation has surged to a record high of 4.4% in July. Inflation is now at its highest level since current records began in 1997. The figure is up from 3.8% in June and is more than double the Government’s target of 2% and above analysts’ forecast of ...

June 17, 2008

Cost of fixed-rates loans hits ten-year high

by Gill Montia
Cost of fixed-rates loans hits ten-year high
Interest rates on fixed-rate mortgages are at their highest in a decade. Last week, a dozen lenders raised rates across a range of loans and from today, Nationwide, which is the UK's second-largest mortgage lender behind Halifax, will charge new borrowers up to 0.5% more for fixed-rate and tracker mortgages. According to financial website, Moneyfacts, interest on the average two-year fixed-rate mortgage ...

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