The price of spot gold fell further today – to a 2½-month low of $1,624 – after reaching a record high of $1,920.94 a troy ounce earlier this month. This represents the sharpest drop since March 2009 – in the aftermath of the collapse of US bank, Lehman Brothers. Gold is now down 9% from [...]
While the price of Gold has recently reached record highs, the price of Silver recently reached a 30-year high. The price of gold has recently surged and this has been attributed to a weakening US dollar, which typically moves in the opposite direction to the precious metal. However, the price of silver has risen 31% [...]
Bovis has reported a steady half year in terms of sales, although the new homes market remained “subdued” with first-time buyers limited by “liquidity issues”. However, the house builder delivered “solid” weekly private sales rates in the six months to the end of June 2010, and achieved prices that were ahead of expectations. During the [...]
Those with a yearning to live by the sea should head north, according to research from Halifax. The lender has declared Withernsea in the East Riding of Yorkshire the most affordable seaside town in England and Wales, with house prices typically three times local annual gross average earnings. All ten most affordable seaside towns are [...]
It has been reported over the weekend that insurance giant Prudential may call off the deal with AIA, the Asian arm of US company American International Group (AIG), if the price is not right. It emerged last week that Prudential, which is Britain’s second largest insurer, was renegotiating with AIA after investors were said to [...]
A weak US dollar continues to make gold an attractive buy for investors, as well as increasing demand from emerging markets, which is pushing up the price of gold. Furthermore, gold traditionally rises during the October to December period as the run-up to Christmas and the Indian festival of Diwali pushes up demand. The precious [...]
Europe’s third largest oil company, Total, has posted a 54% drop in third quarter net profits due to weaker oil prices. In the three months to September, the French oil giant’s profits were €1.9 billion (£1.7 billion), compared with €4.1 billion in the same period a year ago. However, this was slightly ahead of the [...]
Following positive economic data from the US and China yesterday, US light crude rose $1.13 a barrel to end Monday trading at $78.13, while London Brent added $1.35 to $76.55. While prices are still way off the peak of $147 set in July 2008, they have been steadily rising due to strong economic data and [...]
Royal Dutch Shell has today posted a 73% fall in profits for the July to September period. The Anglo-Dutch oil giant warned that the outlook remains “very uncertain” and according to The Times, is to eliminate 5,000 positions, around 10% of its workforce. The group said its cost-cutting exercise means that 5,000 staff would leave [...]
The price of gold reached $1,058 (£659.20) an ounce on the London Bullion Market yesterday – its third consecutive day of gains. A weak US dollar continues to make gold an attractive buy for investors, according to analysts. Furthermore, the price of the precious metal could continue to rise if the dollar remains weak. Traditionally, [...]
The price of gold, which is seen as an attractive investment in times of inflation, has briefly hit the $1,000 mark – it’s highest level in six months – before slipping back to $999.0 per ounce. Gold has been growing in value for the last 8 years and peaked at $1,032 an ounce in March [...]
In the first house price survey covering the whole of July, the Nationwide has reported that the average value of a UK home rose by a seasonally adjusted 1.3% compared with June, to £158,871. According to the lender, the three-month-on-three-month rate of change, which is generally regarded as a more reliable indicator, saw a rise [...]
New research from the Royal Institution of Chartered Surveyors (Rics) shows that house sellers are now achieving a higher proportion of asking prices. A survey of Rics members has revealed that the gap between selling and asking prices has narrowed to 11% in the past three months, whereas in August of last year the discrepancy [...]
The Department for Communities and Local Government (DCLG) has released housing market statistics for April, showing a 1.1% month-on-month increase in prices. The rise left the average price of a home 13.0% down on April 2008, at £189,215. On a regional basis, annual price falls are as follows: England -13.2%; Wales -10.3%; Scotland -8.6% and [...]
Halifax has reported a 1.7% drop in the average price of a UK home, during April. The decline takes the annual fall to 17.7% and puts the average cost of a property at £154,716 or £33,264 less than a year ago. The lender is pessimistic in the short-term, with chief economist Martin Ellis warning that [...]
Oil giant BP has announced a sharp fall in quarterly profits as oil prices fall and demand weakens. Net profit for the first quarter was $2.4 billion (£1.64 billion), a fall of 62% compared with the same period in 2008. However, today’s results have exceeded analysts expectations and shares in the company were up 1.1% [...]
New research from Unbiased.co.uk indicates that the majority of Britons are not expecting to see house prices rise during 2009. In a recent survey by the mortgage advice website, 58% of respondents said they were not anticipating an upturn this year, while 18% didn’t see any prospect of an improvement until at least 2011. Twenty-eight [...]
Hometrack is the latest monitor of the UK property market to present an analysis: the housing intelligence firm’s March survey shows house prices continuing to fall, although sales volumes rose by 19% on a month earlier. In addition, the number of potential buyers registering with estate agents increased for the second month in a row, [...]
For five sessions in a row, crude oil has closed at above $50 a barrel and has risen after better than predicted news for US durable goods and hopes of a rebound on the stock market. Crude oil is being sold off in greater swathes as there is now a huge inventory of US oil, [...]
Rightmove has reported that the average asking price for a home in England and Wales was down an annual 9% over the four week to the 7th March. New listings for the period fell 57% year-on-year, to 79,000. However, the property website found that in March, the average asking price for a home rose 0.9% [...]
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, [...]
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