Tag: pressure

High Street posts worst sales for two years

High Street posts worst sales for two years

Accountancy firm BDO has warned Britain’s retailers should prepare themselves for some tough times as pressure builds on consumers in the run-up to Christmas. According to the firm’s High Street Sales Tracker, sales figures for August fell 2.2% among mid-market retailers, attributed to the riots and cooler weather during the month. The riots, in particular, [...]

September 5, 2011 | 1 Comment More
Cheques will not be scrapped, say Payments Council

Cheques will not be scrapped, say Payments Council

It has been announced today that cheques will not be phased out after the Payments Council announced it would abolish them in 2018. The Council has now decided to keep them after criticism from MPs and charities and was forced to make the u-turn after pressure from the public. Richard North, the chairman of the [...]

July 12, 2011 | 0 Comments More
Factory gate inflation surges in June

Factory gate inflation surges in June

The Office for National Statistics (ONS) has today revealed UK producer output prices surged in June to their highest level since October 2008. According to the ONS, output prices (factory gate) annual inflation for all manufactured products grew by 5.7% in June – slightly higher than forecasts of a 5.6% rise and the biggest annual [...]

July 8, 2011 | 0 Comments More
Vince Cable applies pressure to banks over lending commitments

Vince Cable applies pressure to banks over lending commitments

Speaking to the Treasury Select Committee today, Business Secretary Vince Cable has warned banks over lending, threatening higher taxes. The business secretary told MPs that the amount of lending to small and medium-sized enterprises (SMEs) was a “serious problem” and has reminded banks of their targets, set out in the Project Merlin agreement. Under the [...]

June 8, 2011 | 0 Comments More
Indian inflation eases in April

Indian inflation eases in April

India’s wholesale price index, the country’s main inflation rate, eased last month to an annual 8.66% from March’s figure of 9.04%. However, the figure was still above the 8.48% expected by analysts and comes as fuel and food prices continue to rise. The food price index increased 8.71%, while the fuel price index rose 13.32% [...]

May 16, 2011 | 0 Comments More
UK inflation surges to 4.4% in February

UK inflation surges to 4.4% in February

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to an annual rate of 4.4% in February – the highest rate since October 2008. The latest figures mean inflation is still way above the target of 2% – where it has been for more than a year and exceeded economists expectations [...]

March 22, 2011 | 0 Comments More
Interest rate hike to be delayed after services data

Interest rate hike to be delayed after services data

According to economists, yesterday’s services sector figures could result in the delay of interest rate hikes. Growth in the UK’s closely-watched service sector slowed in February, figures revealed yesterday. The sector accounts for around 75% of Britain’s economic output. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 52.6 in [...]

March 4, 2011 | 0 Comments More
UK interest rates and QE remain on hold

UK interest rates and QE remain on hold

The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – primarily due to sluggish economic growth, according to economists. Recent figures showed the economy contracted in the fourth quarter of 2010 so it was thought that the central bank [...]

February 10, 2011 | 0 Comments More
David Cameron rules out major tax cuts

David Cameron rules out major tax cuts

Prime Minister David Cameron has said the Government will not introduce major tax cuts but insisted he remains a “tax-cutting Tory”. His comments come just a few days after Deputy Prime Minister, Nick Clegg, claimed that millions of middle-class families who are set to become higher rate taxpayers from April will “barely notice” the difference. [...]

February 7, 2011 | 1 Comment More
Government to slash funding for debt advice charities

Government to slash funding for debt advice charities

The Government’s massive spending cuts, which were introduced to trim the spiralling budget deficit, is to lead to a cut in funding for debt advisers. The news comes as debt advice charities are at their busiest as households are squeezed by unemployment, tax hikes and rising inflation. As a result, many debt advisers believe that [...]

February 1, 2011 | 0 Comments More
UK inflation surges to 8-month high in December

UK inflation surges to 8-month high in December

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) rose to an annual rate of 3.7% in December, up from 3.3% in November. The figure was much higher than the 3.4% analysts had expected and inflation has now been above its target of 2% for over a year. Many leading business [...]

January 18, 2011 | 0 Comments More
Think tank urges central bank to keep interest rates low

Think tank urges central bank to keep interest rates low

Influential think tank, the Ernst & Young Item Club, is urging the Bank of England not to be pressurised into lifting UK interest rates as it could threaten the economic recovery. Interest rates have been at the historic low of 0.5% since March 2009 - when the economy was in the midst of recession. Despite [...]

January 17, 2011 | 0 Comments More
Portugal under scrutiny as bailout pressure increases

Portugal under scrutiny as bailout pressure increases

There is speculation that Portugal is, once again, under pressure to seek a bailout in order to prevent the euro zone debt crisis spreading further. The country’s borrowing costs continue to surge – mimicking what happened in Greece and Ireland – just before they were forced to seek emergency aid. However, Portugal continues to deny [...]

January 10, 2011 | 0 Comments More
Land Registry reports 0.8% fall in October house prices

Land Registry reports 0.8% fall in October house prices

According to the Land Registry, house prices fell by 0.8% in October compared with September, putting the average cost of a home at £165,505 in England and Wales. It must be noted that the Land Registry compiles its data from completed transactions and therefore lags behind other monitors of the housing market but is generally [...]

November 26, 2010 | 0 Comments More
Portugal under pressure to seek bailout

Portugal under pressure to seek bailout

A German newspaper has today reported that Portugal is under pressure to seek emergency aid from the EU rescue fund - something which the country strongly denies. Today, the Financial Times Deutschland reported that a number of euro zone nations and the European Central Bank were urging Portugal to follow Ireland and Greece and seek [...]

November 26, 2010 | 0 Comments More
HMRC: House sales down in October

HMRC: House sales down in October

HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in October in the UK. According to HMRC, 79,000 homes worth at least £40,000 or more were sold in the month, a fall of 11% on an annual basis. While it was 1,000 higher from September’s figure, it is evident [...]

November 24, 2010 | 0 Comments More
China’s trade surplus narrows further in September

China’s trade surplus narrows further in September

October 13, 2010 | 0 Comments More
Obama presses China over yuan issues

Obama presses China over yuan issues

Following a “candid” two-hour meeting yesterday between Chinese Premier, Wen Jiabao, and US President, Barack Obama, it appears China will still not bow to pressure over its currency. The object of the meeting was to urge China to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value [...]

September 24, 2010 | 0 Comments More
Chinese Premier hits back over yuan pressure

Chinese Premier hits back over yuan pressure

Chinese Premier Wen Jiabao has hit back over pressure to let its currency appreciate further. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors. Trade groups have argued that the yuan, also referred to as the renminbi, is [...]

September 23, 2010 | 0 Comments More
Survey reveals household finances are squeezed

Survey reveals household finances are squeezed

A survey of 2,000 households, conducted by market researchers Markit and YouGov, has revealed confidence has been knocked and households are under pressure financially. The reason for the fall in confidence comes as households are fearful of losing their jobs as the coalition Government embarks on massive spending cuts and tax hikes. Approximately 600,000 public [...]

August 23, 2010 | 0 Comments More