The Commerce Department has revealed US retail sales grew for the fifth consecutive month in November. Sales grew by 0.8% – exceeding the 0.5% expected by economists and will boost hopes that the economic recovery picked up pace in the final quarter of the year. High unemployment remains a major concern in the world’s largest [...]
There are hopes for Greece today after leaders of the euro zone nations have agreed to provide emergency loans to the debt-ridden country. However, Luxembourg Prime Minister Jean-Claude Juncker, speaking for euro zone finance ministers, said that the euro zone countries had not decided to activate the loans, as this would depend on a decision [...]
The Chartered Institute of Purchasing and Supply/Markit construction PMI index surged in March for the first time in over two years as housebuilding picked up. The index jumped to 53.1 points in March, up from 48.5 the previous month and the first month the index has enjoyed growth since February 2008. Any reading above 50 [...]
The CIPS/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing activity grew faster than expected in February – sustaining the previous month’s 15-year high rate of growth. The positive figures will boost hopes that the economic recovery is gathering pace after last week’s fourth quarter GDP figures were revised upwards. Last week, the [...]
The Office for National Statistics (ONS) revealed UK factory output grew more than expected in December, boosting hopes of an upward revision to the initial estimate of fourth quarter GDP figures. According to the ONS, output increased by 0.9% in December after strong gains in the transport, paper and publishing and electrical and optical equipment [...]
The Office for National Statistics (ONS) has today revealed that UK unemployment fell to 2.46 million in the three months to September – below the 2.47 million recorded in the three months to August. The unemployment rate remains at 7.8% and the increase of 30,000 without a job was the smallest in 18 months. Unemployment [...]
The Chartered Institute of Purchasing & Supply’s Purchasing Managers’ Index has posted a reading of 56.9 on services activity in October, up from 55.3 in September. The reading of 56.9 was the highest since August 2007 and beat analysts expectations of 55.5. Furthermore, October’s reading represented the sixth consecutive month the sector has shown an [...]
The UK economy has received a boost today with hopes that a recovery is well underway after the Office for National Statistics revealed that UK unemployment increased 88,000 to 2.47 million in the three months to August, taking the unemployment rate from 7.6% to 7.9%. Today’s figure was not as bad as expected and the [...]
The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.6% in the April to June period – rather than the 0.7% previously reported and the 0.8% reported prior to that. The latest revision comes as the manufacturing and construction sectors performed better than originally thought and brings further hope [...]
Japan’s main Nikkei 225 index was up more than 3% in early trading today boosted by Federal Reserve chairman Ben Bernanke’s comments last Friday. Mr Bernanke’s comments came at a speech in the annual central bankers’ retreat in Jackson Hole, Wyoming, and said the prospects for economic recovery “appear good”. His comments, along with record [...]
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
