Tag: report

NBNK to bid for Lloyds branches

NBNK to bid for Lloyds branches

According to the BBC, financial institution NBNK is to submit a second bid for the 600+ branches which Lloyds Banking Group is putting up for sale. It is understood the branches could fetch around £1.5 billion, according to sources close to the matter. Lloyds is selling the branches under the orders of the European Commission [...]

September 28, 2011 | 0 Comments More
IFS warns of tough times for UK households

IFS warns of tough times for UK households

A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]

September 12, 2011 | 0 Comments More
Union leaders criticise fat cats over pay

Union leaders criticise fat cats over pay

Unions have vented their anger at directors today after a report found that the average annual bonus for a director in a FTSE 100 company has soared by 187% in the last decade. The findings were in a report by the High Pay Commission and discovered that top executives received a bonus worth 90% last [...]

September 6, 2011 | 0 Comments More
Proposed ring-fencing will harm economic growth

Proposed ring-fencing will harm economic growth

Leading think tank, the Ernst & Young ITEM Club, believes the proposed ring-fencing of retail and investment banks will reduce economic growth. The think tank’s prediction comes just a week before the publication of the Independent Commission on Banking’s (ICB’s) final report on ring-fencing. The ICB, which was established in June 2010, is considering forms [...]

September 5, 2011 | 0 Comments More
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
Global food prices up 33% in July

Global food prices up 33% in July

A report by the World Bank has revealed food prices are up 33% in the year to July on the back of volatile oil costs. Crude oil prices are up 45% on the year (due to political unrest in the Middle East and North Africa) and this has affected production and transport costs, all contributing [...]

August 16, 2011 | 0 Comments More
More than 800,000 stuck in negative equity

More than 800,000 stuck in negative equity

A report by the Council of Mortgage Lenders (CML) has revealed 827,000 mortgage borrowers are in negative equity (a mortgage worth more than their property). However, the figures which relate to the first quarter of the year, are not as bad as they were in the early 1990s, when around 1.6 million households were trapped [...]

August 9, 2011 | 0 Comments More
Weak housing market and unemployment drag on US economy

Weak housing market and unemployment drag on US economy

The latest Beige Book report, published by the Federal Reserve, has revealed widespread signs that US economic growth is slowing. The Fed said: “Economic activity continued to grow; however, the pace has moderated in many districts.” The economic recovery of the US remains sluggish in the face of higher unemployment and a depressed housing market, [...]

July 28, 2011 | 0 Comments More
HSBC to reduce headcount by 10,000

HSBC to reduce headcount by 10,000

According to a report today, banking giant HSBC is to axe more than 10,000 jobs as part of the bank’s strategic review. The report from Sky News said some of the cuts will come from its head office while others will be the result of closing some retail banking operations. However, a spokesperson for the [...]

July 28, 2011 | 0 Comments More
Study reveals SMEs are getting credit

Study reveals SMEs are getting credit

A report has revealed that the majority of small and medium-sized enterprises (SMEs) are successful when applying for credit. According to the study, more than half (59%) of applicants were successful when applying for a loan, while 72% who applied for an overdraft were successful. The figures come from the latest SME Finance Monitor report [...]

July 11, 2011 | 0 Comments More
Report suggests pension age will have to rise to 70

Report suggests pension age will have to rise to 70

A report by accountants PricewaterhouseCoopers (PwC) has waned that the pension age may have to rise to 70 by 2046 in order to deal with Britain’s debts. Current plans introduced by the coalition Government will see the state pension age lifted to 66 for both men and women by 2020. The pension age will then [...]

July 6, 2011 | 0 Comments More
Single parents will suffer most from benefit cuts

Single parents will suffer most from benefit cuts

According to the Fawcett Society, the gender equality charity, lone parents are set to be squeezed by the Government’s austeirty measures, which include cuts to benefits and tax hikes. A report by the Society explains the public service cuts will result in lone mothers losing an average 8.5% of their income after tax by 2015. [...]

June 23, 2011 | 0 Comments More
Chancellor to show support for retail banks to be ring-fenced

Chancellor to show support for retail banks to be ring-fenced

In his Mansion House speech this evening, Chancellor George Osborne is expected to confirm that banks will have to ring-fence their retail operations so they are protected from losses from investment banking. The Chancellor is also expected to suggest that banks will have to hold more capital – a recommendation of the Independent Commission on [...]

June 15, 2011 | 0 Comments More
BoE report suggests low interest rates in the short-term

BoE report suggests low interest rates in the short-term

In its influential Quarterly Bulletin, the Bank of England said interest rates can be held at the historic low of 0.5% in order to prevent growth from stalling. The statement comes despite inflation being more than double the target of 2% and many business groups are calling on the bank to lift rates to combat [...]

June 13, 2011 | 0 Comments More
IMF provides assessment for UK economy

IMF provides assessment for UK economy

The International Monetary Fund (IMF) has today published its annual assessment for the UK economy and is estimating growth of 1.5% this year, down from 1.7% in April. The estimate is roughly in line with other forecasts for the UK economy with the British Chambers of Commerce expecting growth of 1.3%, the Organisation for Economic [...]

June 6, 2011 | 0 Comments More
Barclays mulling over Spanish purchase

Barclays mulling over Spanish purchase

It has been reported that banking giant Barclays is considering purchasing one of Spain’s ailing regional savings banks. According to the Sunday Times, the bank’s chief executive, Bob Diamond, met with the Spanish Prime Minister, Jose Luis Rodriguez Zapatero, last week. However, Barclays has declined to comment on the report and it is unknown which [...]

May 30, 2011 | 0 Comments More
Asian buyers take interest in London property market

Asian buyers take interest in London property market

According to Knight Frank LLP, 59% of new-build property in London has been acquired by Asian buyers in the six month period to April. This is up from 48% a year earlier as buyers seek alternatives from rocketing property prices in China and Singapore. The estate agent said Asian buyers are taking advantage of the [...]

May 26, 2011 | 0 Comments More
Average rent up 4.4% on year

Average rent up 4.4% on year

A report by letting agency network LSL Property Services has revealed tenant demand has risen in recent weeks after April’s long bank holiday weekends and warm weather led to a surge in would-be tenants looking for property. According to the agency, rents grew by 0.8% in April to £692 per month compared with the previous [...]

May 20, 2011 | 0 Comments More
Asia’s economic recovery under threat from soaring food prices

Asia’s economic recovery under threat from soaring food prices

A report by the Asian Development Bank (ADB) has warned soaring food and fuel prices threaten to push millions into extreme poverty and hamper economic growth in Asian economies. Previous reports have suggested that Asia is leading the way in the global recovery with staggering economic growth figures but food price inflation is threatening growth [...]

April 26, 2011 | 0 Comments More
Rising oil and inflation pose threat to global recovery

Rising oil and inflation pose threat to global recovery

The International Monetary Fund (IMF) has today said while the global economy is recovering, challenges remain. The challenges the global economy face are rising oil prices amid the ongoing civil unrest in Libya and the Middle East. Inflationary pressures also pose a threat to economic growth - particularly in Asia, the IMF said in its [...]

April 11, 2011 | 0 Comments More