The Zew economic sentiment index has revealed German analyst and investor confidence fell to a 2½ year low in September as the ongoing euro zone debt crisis and fears of a global slowdown dampened sentiment. The index, which measures expectations of economic activity over the next six months, fell for the seventh consecutive month to [...]
The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence has plunged after March’s earthquake and tsunami. The index turned negative for the first time in more than 12 months with companies gloomy about the future. The key index fell to a reading of -9 from a positive reading of 6 [...]
US homebuilder confidence grew in March, according to the National Association of Home Builders (NAHB)/Wells Fargo sentiment index. The index showed a reading of 17 in March from February’s 16 – in line with forecasts, according to the Washington-based group. The reading was the highest since May 2010 and suggests the housing market is stabilising [...]
A monthly survey by the European Commission has reported a rise in euro zone economic sentiment in February. The Indicator rose to 107.8 in February, up from 106.8 in January and exceeded forecasts of a reading of 106.8. In a statement, the Commission said: “The ESI (Economic Sentiment Indicator) is now above its long-term average [...]
Japanese consumer confidence grew for the first time in seven months in January, the Cabinet Office said today. The closely-watched consumer sentiment index climbed to 41.1 in January, from 40.1 in December. The figures suggest consumers are now more optimistic about the economic prospects after all four sub-indices of the sentiment index saw an improvement [...]
Demand for house purchase mortgages fell “markedly” in the three months to December, lenders have reported, with the trend expected to continue over the current quarter. According to the Bank of England’s latest Credit Conditions Survey, the decline reflected “a recent fall in house prices, a general weakening of sentiment towards the housing market and [...]
The Commerce Department has today revealed US housing starts plummeted in June – far more than expected, raising fears for the already fragile housing market. According to the Commerce Department, construction of new US homes fell 5% in the month to a seasonally adjusted annual rate of 549,000 properties – the lowest since October 2009 [...]
The National Association of Home Builders (NAHB) today revealed a fall in confidence, sending shares lower. Wall Street experienced falls after the US home builder sentiment index fell in July to the lowest level since April 2009 after the Government tax credit incentive expired a few months ago. According to the index, confidence among US [...]
The Bank of Japan’s closely watched quarterly Tankan survey has revealed a significant improvement in business confidence in Japan. The Tankan index revealed business confidence among major manufacturers had picked up for the fifth consecutive quarter, rising one point in June from -14 in March. The Tankan, which surveys 10,000 firms, measures the percentage of [...]
London’s FTSE 100 index closed up 57 points today at 5004.30 – the highest level since 3rd October 2008. Shares across Europe have also performed well, with France’s Cac 40 index gaining 1.3% and Germany’s Dax index rising 1.7%. In the US, the Dow Jones industrial average was up 63.94 points at 9,561.28 in late-morning [...]
The Building Societies Association (BSA) has published the results of its latest Property Tracker survey, which indicate that more people believe that now is a good time to buy a home. Forty-six per cent of those surveyed were, to some extent, positive about making a purchase, compared with 34% in September and 27% in July. [...]
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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