News Tag: new
March 16, 2010
The European Automobile Manufacturers Association has today revealed registrations of new cars in Europe grew an annual 3.2% in February to 1,000,754 vehicles.
However, a severe fall of 30% was noted in Germany as the country’s scrappage scheme expired, but the fall was offset by growth in Italy and the UK, which still have incentive packages in place.
Overall, sales in the ...
European car sales rise 3.2% in Feb
by Kay Murchie
March 15, 2010
The Government-led crackdown on credit card companies is expected to save consumers around £300 million a year.
The crackdown comes after the Government warned credit and store card firms to “clean up their act” after it launched a review of the industry in a consumer White Paper in July 2009.
According to Prime Minister, Gordon Brown, the cost of borrowing ...
Consumers to save millions under new credit card protection
by Kay Murchie
March 10, 2010
City watchdog, the Financial Services Authority (FSA), has today announced banks will face stricter stress testing to ensure they can survive a further 4 years of falling economic growth and a 13.3% unemployment rate.
Stress tests were introduced following the financial crisis to ensure that banks had sufficient capital to allow them to continue operating through dire economic conditions.
The ...
FSA to introduce tougher stress tests for banks
by Kay Murchie
March 3, 2010
The Greek Government has today unveiled a new series of measures aimed at tackling the country’s debt problems, which has resulted in the euro recovering 0.3% to $1.3637.
Growing fears over the debt crisis in Greece have weakened the value of the euro in recent weeks as Greece takes action to reduce its public deficit from 12% to 8% of ...
Euro rises amid new austerity measures in Greece
by Kay Murchie
March 1, 2010
In a round-up of January mortgage lending, Bank of England figures show approvals for house purchases falling 17%, compared to a month earlier.
However, the month-on-month decline takes into account the end of the stamp duty holiday, which resulted in transactions being pushed through in time for December completions, and winter weather conditions that would have deterred ...
New Year usher in 17% fall in new mortgage approvals
by Gill Montia
February 9, 2010
Enquiries from new home buyers dipped in January, for the first time in 14 months.
According to the Royal Institution of Chartered Surveyors (RICS), the winter freeze may have been responsible for the downturn with house sellers also affected and the number of homes being put up for sale falling for the first time in seven months.
Last ...
Spring bounce in housing market likely to be short lived
by Gill Montia
January 18, 2010
Northern Rock, which was recently split into two divisions, is to continue its sponsorship of Newcastle United Football Club after signing a new four-year deal valued at between £1.5 million and £10 million.
Rock has been the football club's shirt sponsor since 2004 and the new deal will run from season 2010/11 to 2014. However, the maximum value of the ...
Newcastle Utd signs 4-year deal with Northern Rock
by Kay Murchie
January 7, 2010
Those wishing to consolidate their dates after the expensive Christmas period may be interested to learn about the Nationwide’s new loan deals, which were launched earlier this week.
Nationwide has introduced a new personal loan rate of 7.6% APR typical for loans of between £7,500 and £14,999 for up to five years for its main FlexAccount customers.
According to the Nationwide, this ...
Nationwide introduces low personal loan rates
by Kay Murchie
Travelodge embarks on expansion plan with 26 new hotels
by Kay Murchie
New car sales continue to rise in December
by Kay Murchie
January 5, 2010
Euroclear, which is Europe’s largest settlements group, has today announced that Tim Howell will become the group’s chief executive officer.
Forty-nine-year-old Howell is currently the Global Head of HSBC Securities Services, where he is responsible for the custody, fund administration and corporate trust businesses of the HSBC Group.
He has been a member of the Euroclear board since 2007 and ...
HSBC’s Tim Howell to become CEO of Euroclear
by Kay Murchie
January 4, 2010
Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members.
The ACA, which questioned over 300 companies, found that employers continue to shy away from these high cost schemes with 87% of workplace final ...
Report reveals more pension woes
by Kay Murchie
December 30, 2009
Shares in troubled Japan Airlines (JAL) plummeted to a fresh low today, losing 24% to 67 yen.
The stock plummeted for a second consecutive day amid reports that the carrier is heading towards bankruptcy under a state restructuring plan.
The airline, which is Asia’s largest carrier, has been struggling amid the global economic downturn which has led to a slump in demand.
Many ...
Japan Airlines shares hit fresh record low
by Kay Murchie
December 23, 2009
There were concerns over a recovery in the US housing market today after the Commerce Department revealed a fall in sales of new homes for the month of November.
According to the Commerce Department, new single-family home sales dived by 11.3% to a seasonally adjusted annual rate of 355,000 units, down from a revised 400,000 in the previous month and represented ...
US new home sales fall in November
by Kay Murchie
New mortgage lending continues recovery
by Gill Montia
December 6, 2009
First direct has launched a market-leading offset tracker, which tracks at 2.08% above the Bank of England's base rate, offering a current rate of 2.58%.
The lender, which is part of the HSBC group, claims the deal is the best of its kind on the market, for a maximum loan to value ratio of 65%.
It comes with an arrangement fee ...
first direct launches 2.58% offset tracker
by Gill Montia
December 4, 2009
The Society of Motor Manufacturers and Traders (SMMT) has today revealed sales of new cars grew by 57.6% in November compared with the same month in 2008, boosted by the Government’s scrappage scheme.
November also represented the fifth consecutive monthly rise. July saw the first monthly rise, prior to that there were 15 successive months of decline.
The scheme pays ...
New car sales continue to rise in November
by Kay Murchie
December 3, 2009
Bank of America is to repay the $45 billion (£27 billion) of US Government bailout funds.
The banking giant received the funds at the height of the financial crisis after accepting the Troubled Asset Relief Program (TARP).
The repayment of the loan will see the bank escape curbs on executive pay, which in turn, has hindered its search for a new chief executive.
Outgoing ...
Bank of America to repay bailout
by Kay Murchie
December 1, 2009
Pub chain JD Wetherspoon brings some good news to the economy today by announcing it is to open 250 new pubs and create 10,000 jobs.
The new pubs will be located in Sheffield, Livingston, Leominster, Otley, New Malden, Liverpool, Haverfordwest and Newcastle and are part of a £250 million investment over a five-year period.
JD Wetherspoon appears to be ...
JD Wetherspoon embarks on expansion with creation of 10,000 jobs
by Kay Murchie
November 30, 2009
Figures from the Bank of England show the value of mortgages approved for house purchases rising for the 11th consecutive month in October, to £8 billion.
The total is up from £7.6 billion a month earlier and compares with a previous six month average of £6.7 billion.
Volumes increased to 57,345, up from 56,205 in September and 18% higher than a year ...
New mortgage lending still nudging ahead
by Gill Montia
