Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – surged in August. According to the Cabinet Office, orders grew 11% in August on a monthly basis – the strongest pace in a year – and also beating forecasts. Orders have fallen over recent months due to [...]
Figures published by the Society of Motor Manufacturers and Traders (SMMT) revealed a strong rise in UK car production for the month of August. UK car production rose 10.7% in August versus the same month a year ago, the SMMT said, with the total number of cars produced at 86,250. Furthermore, for the year-to-date, car [...]
UK manufacturers are reporting healthy order books and expectations for output growth remain above their long-run average, despite being less strong than earlier this year. New research from the Confederation of British Industry (CBI) also indicates that pricing pressures have eased following strong inflation during the first six months of 2011. Expectations for growth in [...]
The Society of Motor Manufacturers and Traders (SMMT) have revealed UK car sales fell by 6.2% in June compared with the same month in 2010. The SMMT said the number of new cars sold in the month was 183,125 – representing the twelfth consecutive monthly fall in sales. Meanwhile, registrations in the first six months [...]
Japan’s industrial output recovered further last month after a record drop in March due to the earthquake and tsunami. Disruptions caused by the twin disasters resulted in carmakers being forced to halt production as a result of parts shortages. However, it looks as if the situation is improving for manufacturers after output rose at a [...]
Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – unexpected declined in April. According to the Cabinet Office, orders were down 3.3% in April on a monthly basis – far lower than forecasts of a 1.2% rise. Analysts say the fall in orders is attributed to [...]
The Society of Motor Manufacturers and Traders (SMMT) has today revealed UK car sales fell by 1.7% in May compared with the same month in 2010. The SMMT said the number of new cars sold in the month was 150,431 – representing the eleventh consecutive monthly fall in sales. Meanwhile, registrations in the first five [...]
The Ministry of Finance has today revealed Japan’s exports plunged by in April – hit by the 11 March earthquake and tsunami. Official figures revealed exports fell by 12.5% in April on an annual basis as the twin disasters forced some of Japan’s largest exporters to halt production. Meanwhile, imports surged by 8.9% in April [...]
The Ministry of Finance has today revealed Japan swung back to a surplus in February. The trade balance came to a surplus of 654.1 billion yen – after having posted the first deficit for 22 months in January. Exports rose 9% in February on an annual basis – beating expectations of a 8.6% rise. The [...]
Japanese shares rose more than 3% earlier today following some much needed good news. Stock markets were boosted by the news that Japanese carmakers, Toyota and Honda, may restart production this week, while it was revealed that progress is being made in containing radiation leaks. In the aftermath of the earthquake and tsunami on 11 [...]
Last week’s earthquake and tsunami which hit Japan are set to cause “considerable” economic impact as the country faces a massive clean-up operation, a potential nuclear meltdown and power shortages. However, analysts have today said the world’s third largest economy will recover later this year. Over the weekend, the Japanese Government spoke of the 8.9 [...]
The Society of Motor Manufacturers and Traders (SMMT) has today announced UK car sales fell by 22.2% in October compared with the same month in 2009. It represents the fourth consecutive monthly fall but was expected due to the withdrawal of the scrappage scheme. The SMMT said the number of new cars sold in the [...]
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 [...]
Oil giant Royal Dutch Shell has today announced third quarter profits rose 7% to $3.5 billion (£2.2 billion) – up from $3 billion last year. However, the group said net earnings dived 21% in the three month period, compared with the previous quarter. The company said it produced 3.058 million barrels of oil per day [...]
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a sharp rise in UK car production for the month of June. Car production surged 28.6% against the same month a year ago, while production for the first half of 2010 is 55% higher than the same period last year, The SMMT [...]
The UK’s biggest coal producer, UK Coal, has today reported increased losses for the 2009 year due to a fall in production and lower coal prices. The company said pre-tax losses grew to £129.1 million for the full year, against a loss of £15.6 million the previous year. Meanwhile, revenues plunged by 20% to £316 [...]
The UK’s car scrappage scheme, which was introduced last May to boost the ailing car industry, expires today after giving the car industry a much-needed boost. The £400 million initiative paid drivers of cars at least 10 years old £2,000 off the price of a new vehicle. The £2,000 grant was made up of £1,000 [...]
Struggling Japanese carmaker Toyota is to suspend production at plants in France and Britain for two weeks from Monday amid safety recall problems. The carmaker has been suffering amid major safety fears and has recalled almost 9 million vehicles over concerns about accelerator pedals and brake systems. The problems have been blamed for almost 60 [...]
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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