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 [...]
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 [...]
Influential think tank, the Centre for Economics and Business Research (CEBR), has said higher inflation and low pay rises means British households face their biggest squeeze since 1921. The report suggests a typical British family will have £910 less to spend this year than they did in 2009 due to higher food and energy prices [...]
An interim report published by the Independent Commission on Banking (ICB) has said more competition is required in retail banking. The ICB, which was established in June 2010, has until September 2011 to make its recommendations about the banking industry to the Government and one of its suggestions is for banking giant Lloyds to sell-off [...]
It looks as if Germany will continue to drive the recovery in the euro zone after forecasts said the economy will expand by 2.8% this year. In a closely monitored twice-yearly report, the country’s leading economic institutes upwardly revised an earlier forecast of 2% growth. The report said: “In the spring of 2011, the world [...]
The Asian Development Bank (ADB) has said inflationary pressures remain rife in Asia’s developing economies and could pose a challenge for many, leading to social tensions. However, the region is powering ahead in the economic growth stakes, due to soaring exports, and has been leading the way in the global economic recovery. Growth rates for [...]
According to the World Bank, Japan’s 8.9 magnitude earthquake and tsunami has caused up to £145 billion ($235 billion) of damage and will impact on the country’s economic growth. The World Bank estimates approximately 0.5% will be reduced from growth this year, as a result, and reconstruction could take five years. The Japanese economy grew [...]
A report by the Institute for Public Policy Research (IPPR) has established that England could face a massive housing shortage by 2025. The think tank concludes that there is likely to be a shortfall of 750,000 homes by 2025 with the areas worst hit including London, the South East of England, the East, and Yorkshire [...]
A report by the Recruitment and Employment Confederation (REC) and KPMG has revealed employment for both temporary and permanent workers rose during February. The survey of 400 recruitment consultancies showed permanent staff vacancies rising at their fastest level in 10 months, while demand for temporary staff saw its biggest rise since May 2007. The permanent [...]
Discount clothing retailer, Primark, has today warned of a slowdown in consumer spending, as Britons prepare to cut back amid rising unemployment and higher inflation. According to Primark’s parent group, Associated British Foods (ABF), “a noticeable slowing down of UK consumer demand” is evident despite strong trading in the first three months of the financial [...]
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the fifth consecutive quarter in which they have fallen. According to the Council, lenders seized 7,900 properties in the October to December period – an 11% fall from the 8,900 in the previous quarter. It was also 26% lower than [...]
The controversial subject of bonuses has emerged again today after the Sunday Times reported Britain’s top banks will pay out a combined £6 billion in bonuses. The report comes despite the Government’s clampdown on bonuses as it endeavours to negotiate with the banks to commit to lending targets for small businesses and restraints on pay. [...]
Research by the Halifax has revealed that between 2000 and 2010, house prices have risen faster in the North than in the South – the first time ever. According to the lender, the price of the average home in the North has risen by 102% in the 10 year period, compared with a rise of [...]
According to the fourth annual Post Office Consumer Credit Report, millions used their credit card this month for daily purchases, suggesting the pressure on household finances is growing. The Government’s spending cuts, together with rising inflation, is having a major impact on families and this is highlighted in the research by the Post Office. The [...]
The US Financial Crisis Inquiry Commission has concluded that the financial crisis of 2008 could have been prevented. The investigation into the crisis, which was overseen by Alan Greenspan – former chairman of US central bank, the Federal Reserve, saw over 700 witnesses interviewed. The 10-member Commission, established in May 2009, said Government officials and [...]
A report by the BBC has established that bank’s lending targets have not been met and pressure is now mounting for bank bosses to reduce bonuses and increase lending to businesses and homeowners. After talks, the Treasury has made it clear that the Government will threaten to break up big banks unless they agree to [...]
A report by insolvency specialist Begbies Traynor has revealed 2011 could see a 10% hike in insolvencies. According to the report, 147,836 firms are facing serious difficulties than at any time since the beginning of 2009. The report suggests firms are still feeling the effects of the recession and the Government spending cuts will only [...]
A new report has revealed the UK’s recovery is a mixed picture with some cities facing a slow recovery from the recession, while others which have proved to be resilient. The report by Centre for Cities discovered cities including Hull, Doncaster and Northampton were now in recovery mode but Liverpool, Birkenhead, Swansea and Newport could [...]
A new report from PricewaterhouseCoopers (PwC) is urging UK companies to focus on emerging markets, or join the “slow lane of history” by continuing to focus on markets in North America and Western Europe. In PwC’s latest “World in 2050″ series, the firm’s head of macroeconomics, John Hawksworth, comments: “Rapid growth in consumer markets in [...]
A report from the homeless charity, Shelter, has revealed that in the last year, 2.6 million Britons have paid their mortgage or rent on their credit card. The figure represents a rise of 50% on the previous year and reveals the extraordinary lengths some are going to in order to keep a roof over their [...]
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, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
