Inflation in the world’s second largest economy eased last month after reaching a 3-year high in July. According to the National Statistics Bureau, consumer prices rose by 6.2% in August on an annual basis, compared with 6.5% the previous month. Several other economies throughout the world are battling with higher inflation, particularly in Asia, which [...]
The price of gold has risen to a fresh all-time high of $1,610 an ounce on the back of US and euro zone debt worries. As debt concerns in the US build, the dollar continues to weaken and the price of gold typically moves in the opposite direction to the precious metal. Some believe gold [...]
Japan’s Nikkei 225 index fell further today, losing 10.6% to 8,605 – diving even further below the crucially important 10,000 mark. Toyota and Sony were yet again hit by heavy selling after being forced to cease production throughout Japan. The country’s Prime Minister, Naoto Kan, said radiation levels at a nuclear plant on the northeast [...]
The Japanese Government has spoken of the 8.9 magnitude earthquake and the 13-foot tsunami which hit the northeast coast of Japan last week. Prime Minister, Naoto Kan, described it as the worst crisis since the Second World War. The disasters are set to cause “considerable” economic impact as the country faces a massive clean-up operation, [...]
Asian shares and the yen have dropped after a 8.9 magnitude earthquake hit Japan. The earthquake hit the northeast coast of Japan, followed by a 13-foot tsunami wave sending shares tumbling. Shares had already lost ground following weak economic data and the Middle East turmoil. Japan’s Nikkei index was 1.7% lower, but Nikkei futures lost [...]
Wall Street’s Dow Jones Industrial Average closed above 12,000 points on Tuesday – the first time since June 2008. Positive corporate earnings, a strong rise in US car sales and solid manufacturing data boosted US stocks as all major indices were up on the day – despite the political unrest in Egypt. In addition, the [...]
Asian stock markets saw gains today after a joint survey by the Ministry of Finance and the Cabinet Office revealed a rise in Japanese business confidence. The survey, which measures the difference in percentage of Japanese companies that expect the economy to improve against those that expect it to deteriorate, was 4.0 in the April-June [...]
Figures at the end of last week revealed mixed messages for the US economy with an unexpected fall in retail sales and a rise in consumer confidence. Firstly, the Commerce Department revealed a 1.2% fall in retail sales for the month of May. The fall was the first in eight months and analysts had expected [...]
Chinese exports grew by around 50% in May compared with a year earlier, according to sources, which fuelled a recovery in Asian stocks today. The figure, which is set to exceed expectations of a 32% rise, comes after China overtook Germany as the world’s biggest exporter earlier this year. Germany had held the top spot [...]
The euro has fallen against the US dollar and the Japanese yen after Germany banned risky bets on bonds, stocks and credit protection, until March next year. The ban, imposed by the German Government, will apply to the country’s 10 most important financial institutions, and is designed to stop the short-selling of euro Government bonds. [...]
The euro continues to lose value after sinking to a four-year low of $1.2306 over the weekend, while one pound was worth €1.1702. The further fall came after fears over the ongoing debt crisis in the euro zone were raised. It is feared that the tough austerity measures introduced in many euro zone economies to [...]
Japan’s main Nikkei 225 index was up more than 3% in early trading today boosted by Federal Reserve chairman Ben Bernanke’s comments last Friday. Mr Bernanke’s comments came at a speech in the annual central bankers’ retreat in Jackson Hole, Wyoming, and said the prospects for economic recovery “appear good”. His comments, along with record [...]
The Royal Institution of Chartered Surveyors (Rics) has reported a positive change in house price expectations for the first time since May 2007. In its June survey of members, the net balance of surveyors reporting falling rather than rising prices improved from -43.8 in May to –18.1. The Institution points out that although the balance [...]
The National Association of Estate Agents (NAEA) has reported a surge in the number of potential house purchasers registering with its members. NAEA firms reported an average 299 househunters signing up in May, the highest level since September 2007. However, last month the number of properties on estate agents’ books fell to an average of [...]
The Royal Institution of Chartered Surveyors (Rics) has reported that buyer interest increased in May, for the seventh consecutive month. A poll of members revealed that the net balance of surveyors seeing a rise, rather than a fall, in buyer interest rose to its best level since August 1999. The trend was most marked in [...]
The Financial Services Authority (FSA) says it will lift a ban on short selling stocks in 34 companies in the UK banking and insurance sector, on 16th January. The ban was introduced as a temporary measure in September of last year, when short selling was blamed for a downward spiral in HBOS’s share price, the [...]
Research by Thomson-Reuters Lipper, commissioned by the BBC, has found that savers investing their money in savings accounts have benefited rather than investing in UK stocks and shares. The research found that if £1,000 was invested at the start of the decade, it would now be worth £1,094 in an average UK unit trust compared [...]
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
