Tag: increase

LSL: Rents reach record high in July

LSL: Rents reach record high in July

A survey by LSL Property Services has revealed rents in England and Wales continue to surge, with the average rent hitting a record high last month. July represented the sixth consecutive month that the average rental cost rose. According to LSL, the average rent stands at £705 – an all-time high. However, rental costs vary [...]

August 19, 2011 | 0 Comments More
Halifax reports 1.4% fall in April house prices

Halifax reports 1.4% fall in April house prices

The Halifax has today revealed UK house prices plunged by 1.4% in April compared with March, driven by weak consumer confidence in the housing market. The latest house price rise takes the average cost of a UK home to £160,395, the Halifax said. Meanwhile, on an annual basis, prices are 3.7% lower – the biggest [...]

May 9, 2011 | 0 Comments More
India lifts interest rates further to combat inflation

India lifts interest rates further to combat inflation

The Reserve Bank of India (RBI) has today raised key interest rates for the eighth time in less than a year, in a bid to tame stubbornly high inflation in a thriving economy. The move, which was widely expected, saw the central bank raise its repo rate, at which it lends to banks, to 6.75%, [...]

March 17, 2011 | 0 Comments More
Final salary pension scheme closures on the up

Final salary pension scheme closures on the up

According to the National Association of Pension Funds (NAPF), final salary pension scheme closures are on the increase. These types of schemes are becoming significantly more expensive to operate and costs are likely to rise. As a result, the rate of decline appears to be picking up, said the NAPF. The Association said 17% of [...]

March 9, 2011 | 0 Comments More
EU commences bank stress tests

EU commences bank stress tests

The EU has commenced a new round of stress tests after last year’s failed to reveal the weakness among banks in Ireland. The latest tests, which will be headed up by the new European Banking Authority (EBA), are expected to be tougher and may include a liquidity test. However, regulators have yet to agree to [...]

March 7, 2011 | 0 Comments More
China raises interest rates to control stubbornly high inflation

China raises interest rates to control stubbornly high inflation

The People’s Bank of China has again raised interest rates in a bid to curb high inflation. The central bank first lifted rates last October - the first such move since 2007. Today’s rise represents the third in four months and the Bank has increased the one-year yuan lending rate from 5.81% to 6.06%, and [...]

February 8, 2011 | 0 Comments More
Euro zone in no hurry to increase rescue facility

Euro zone in no hurry to increase rescue facility

Following the two-day meeting of European finance ministers in Brussels, it has emerged that Governments are in no hurry to increase the European Financial Stability Facility (EFSF) - otherwise known as the rescue fund. Greece and Ireland have received emergency bailouts from the fund and there has been speculation that weaker euro zone nations will [...]

January 18, 2011 | 0 Comments More
Compensation for savers increases from £50,000 to £85,000

Compensation for savers increases from £50,000 to £85,000

The Financial Services Compensation Scheme (FSCS), the body established to compensate victims of banking failures, will now reimburse up to £85,000 per saver if a bank collapses, up from the £50,000 limit previously agreed. It is hoped the new limit, which is paid for by the UK financial services industry, will avert customer panic if [...]

January 2, 2011 | 0 Comments More
Euro zone ministers to meet to discuss rescue fund

Euro zone ministers to meet to discuss rescue fund

A meeting today of euro zone finance ministers is expected to see pressure mount to boost the EU rescue fund in light of the debt crisis. The recent Irish bailout has done little to allay fears and speculation has been mounting that other weaker euro zone economies may need financial aid. Dominique Strauss-Kahn, chief of [...]

December 6, 2010 | 0 Comments More
Survey reveals small manufacturers expected to raise output

Survey reveals small manufacturers expected to raise output

According to a survey from the Confederation of British Industry (CBI), small manufacturers are expecting to increase production in order to meet higher demand. The CBI survey, which questioned 382 businesses, established that a balance of 19% of firms expect to raise output - higher than the 9% balance in the previous three months, According [...]

November 1, 2010 | 0 Comments More
New minimum wage comes into force today

New minimum wage comes into force today

The UK minimum wage will rise by 13p (2%) to £5.93 an hour today and is set to benefit almost one million people, according to the Low Pay Commission. The 13p an hour rise applies to workers aged 21 and over. Meanwhile, the rate for 18 to 20-year-olds will increase by 9p to £4.92, while [...]

October 1, 2010 | 0 Comments More
Debt charity warns of impending repossessions rise

Debt charity warns of impending repossessions rise

A leading debt charity has warned that repossessions could increase, despite a rallying of the UK economy. The Consumer Credit Counselling Service (CCCS) believes that a recovering housing market could make lenders less lenient and more likely to repossess. The charity is aware that a “large number” of its clients have suspended repossession orders on [...]

July 20, 2010 | 0 Comments More
Post-HIP jump in homes for sale

Post-HIP jump in homes for sale

Agency Express has reported a 13.6% increase in the number of homes put up for sale in May, compared with April, leaving prospective purchasers their best level of choice in over two years. The firm’s managing director, Stephen Watson, comments: “The decision by the new coalition Government to immediately suspend the requirement to have a [...]

June 24, 2010 | 0 Comments More
France reveals overhaul to pensions system

France reveals overhaul to pensions system

The French Government has announced the country’s retirement age will be lifted from 60 to 62 by 2018, as part of a sweeping overhaul to its pension system. The new measures are to be implemented to cut France’s pension costs and reduce public borrowing. However, the shake-up has met with public anger after tens of [...]

June 16, 2010 | 0 Comments More
Slow recovery for Scottish housing market

Slow recovery for Scottish housing market

The housing market in Scotland is showing signs of a weak recovery, according to the latest Scottish House Price Monitor from Lloyds TSB Scotland. In the first quarter of 2010, the value of the average Scottish home rose 0.7%, compared with the previous three months, to £157,801. The increase is a shadow of the 5.9% [...]

May 20, 2010 | 0 Comments More
FOS sees rise in PPI complaints

FOS sees rise in PPI complaints

The Financial Ombudsman Service (FOS) said it dealt with a total of 925,095 queries from consumers in the last financial year - a 46% increase on the previous financial year. However, it said it resolved a record number of disputes (166,321) and in 50% of these cases, consumers were awarded compensation. It did highlight, though, [...]

May 19, 2010 | 0 Comments More
House sellers respond to rising stock levels

House sellers respond to rising stock levels

Rightmove has reported that the week before the General Election saw the highest number of new sellers entering the UK property market since June 2008. However, the property portal observes that the lack of mortgage finance is now beginning to tell, with 2010 unsold stock levels continue an “inexorable rise”. As a result, new sellers [...]

May 17, 2010 | 0 Comments More
Official annual house price inflation at 7.5%

Official annual house price inflation at 7.5%

The Land Registry has published house price data for March showing a positive annual change of 7.5% and marking the fifth consecutive month of growth. However, the monthly change stood at minus 0.6%, taking the average house price in England and Wales down slightly, to £164,288. The East Midlands was the region with the most [...]

April 30, 2010 | 0 Comments More
WPP eyes recovery with marginal growth

WPP eyes recovery with marginal growth

The world’s largest advertising group WPP, has today reported an increase in like-for-like revenues of 1% in March – its first since December 2008. The advertising giant is now raising its key like-for-like full-year revenue forecast to 2% growth. Its French rival, Publicis Groupe, exceeded expectations for its first-quarter sales last week, when it posted [...]

April 30, 2010 | 0 Comments More