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16th of April 2011
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News Tag: income

April 11, 2011

British households continue to be financially squeezed

by Kay Murchie
Influential think tank, the Centre for Economics and Business Research (CEBR), has said higher inflation and low pay rises means British households face their biggest squeeze since 1921. The report suggests a typical British family will have £910 less to spend this year than they did in 2009 due to higher food and energy prices and that household disposable income is ...

January 16, 2011

JPMorgan reports 47% rise in earnings

by Kay Murchie
JPMorgan reports 47% rise in earnings
The reporting season for US banks has got off to a flying start after JPMorgan announced income surged 47% in the fourth quarter. Fourth-quarter profit increased to $4.8 billion, or $1.12 a share, from $3.3 billion, or 74 cents a share, compared with the year ago period. Analysts expected $1 a share. Meanwhile, revenue grew 6% to $26.7 billion - again, higher than the ...

July 21, 2010

Yahoo revenue grows but falls short of expectations

by Kay Murchie
Yahoo revenue grows but falls short of expectations
Online search giant Yahoo has published its second quarter results which disappointed the market, sending its shares diving more than 7%. Profits at the company grew by more than 50% in the quarter, but net revenues missed expectations. Revenue in the three months ending June 30 totalled $1.6 billion (£1.05 billion), compared with $1.57 billion in the same quarter a ...

July 13, 2010

Mortgage lenders’ responsibilities redefined

by Gill Montia

May 20, 2010

FTB affordability eases despite house price rises

by Gill Montia
In its May affordability index, FindaProperty.com has reported that first-time buyer house prices have increased for the fourth consecutive month, taking the average asking price of a starter home to £155,677. The figure is 1.2% higher than a year ago and at its highest since February 2009. At the same time, affordability has improved for those getting a foot on the property ...

May 18, 2010

Recession hits personal pension contributions

by Kay Murchie
Recession hits personal pension contributions
Figures published by HM Revenue & Customs (HMRC) revealed the recession had a severe impact on personal pension contributions. According to figures, workers put £1 billion less into their personal pensions last year - the first fall since the mid 1990s and was primarily due to lower employee contributions. Higher unemployment during the period and the squeeze on personal finances was the main ...

May 4, 2010

Standard Chartered has “very strong start to year”

by Kay Murchie
London-based bank Standard Chartered today announced record first quarter profits and income. The bank, which has a strong presence in Asia, said wholesale banking showed robust results in the three months ending 31 March. In wholesale banking, which includes advisory, trade finance and other investment banking business, client income was up by more than a fifth compared with the same ...

April 8, 2010

Downsizing for retirement a questionable plan

by Gill Montia
The assumption that downsizing from the family home as old age approaches can help fund a comfortable retirement has been challenged by Standard Life. The insurer has recently conducted an "extensive analysis" of the UK property market to calculate how much retirement income downsizing can generate, and is warning those whose retirement dreams are dependent on moving into a smaller property that ...

March 18, 2010

Hundreds more jobs set to go at the Land Registry

by Kay Murchie
According to The Times, the Land Registry is to axe a further 800 jobs, on top of the 1,500 job losses it announced last October. The Registry, which has 20 offices across the country and covers England and Wales and records and guarantees the ownership of domestic and commercial property, said staff would fall further to 4,200 in ...

January 14, 2010

Mortgages at their most affordable in five years

by Gill Montia
Home buyers needed to use less of their income to cover their mortgage interest in November than at any time for more than five years, the Council of Mortgage Lenders (CML) has reported. Home movers were particularly well placed, typically needing only 10.6% of gross income to cover mortgage interest payments, down from 11.1% in October. According to the CML, ...

October 14, 2009

JPMorgan Chase kicks off results season and exceeds expectations

by Kay Murchie
The US banking reporting season has got off to a flying start after JPMorgan Chase, the second-largest US bank, reported a net income of $3.6 billion (£2.5 billion) in the third quarter, compared with $527 million in the same period a year ago - exceeding analysts expectations. The bank, which acquired Washington Mutual’s assets for $1.9 billion a year ...

August 19, 2009

Land Registry workload “fallen off a cliff”

by Gill Montia
In presenting its 2008/09 annual report, the Land Registry describes its core businesses as having "collapsed" as the property downturn deepened. The service's work registering new homes in England and Wales plummeted by 75% compared to a year earlier and total applications handled in the year to the end of March fell to 26.7 million, compared with 36.3 million during the ...

July 7, 2009

Brits want £6,000 a year to start saving

by David Masters
Brits want £6,000 a year to start saving
The half of Brits who currently can't afford to save would have to earn an extra £500 per month before they'd consider putting anything aside for the piggy bank, new research has discovered. The poll by moneysupermarket.com found that 52% of UK adults don't have enough cash to save on a regular basis. On average, those without enough money for savings ...