According to accountancy firm, BDO, the warm weather during September failed to boost the High Street after like-for-like sales were 4% lower last month compared with a year earlier – the biggest fall since March 2009. A report by the company said people were more interested in enjoying the warm days rather than hitting the [...]
The John Lewis Partnership, which is regarded as a barometer of British retailing, has announced that sales growth struggled last week as the cold snap meant shoppers stayed at home. The renowned employee-owned department store said “the snow has impacted both footfall and sales in shops where the weather has been particularly poor.” However, the [...]
Official data today revealed Japan’s economy grew strongly in the July to September period after the expiry of a Government incentive prompted a rush of car buyers and a sharp rise in cigarette sales before a new tobacco tax was levied. In addition, the hottest summer ever boosted sales of air conditioners and other related [...]
Research group Centre for Cities has warned that some UK cities will take years to return to pre-recession levels. The independent think tank said cities such as Stoke-on-Trent, Barnsley, Doncaster, Burnley and Newport will feel the effects of the recession for many years to come as people in these areas are less qualified and there [...]
Wolseley, which is the world’s largest supplier of plumbing and heating equipment, today reported a 45% fall in underlying profits in the three months to the end of October. The company has been badly hit by the housing market downturn and warned that its struggles continue after revenue slumped 13% to £3.4 billion in the [...]
Thousands of jobs are at risk at Threshers and Wine Rack after a source close to the company revealed to The Times that administration could not be ruled out as the group struggles amid the economic downturn. The off-licence’s owner, First Quench Retailing, has confirmed it is looking at “restructuring options” after warning earlier this [...]
The Ernst & Young Item Club, a respected group of economists, believes that the UK economy will struggle to achieve 1% growth next year and it is still too early to declare a recovery. The influential think tank is forecasting some growth in the latter half of 2009 but Gross Domestic Product (GDP) will struggle [...]
Ethical investment funds have lagged behind the performance of conventional funds over the past 12 months, falling by an average of 16.7% Only three out of 60 ethical funds posted a positive return in the past year, research by Investment Life and Pensions Moneyfacts discovered. Looking back over three years presents an equally gloomy picture, [...]
According to the Chartered Institute of Personnel and Development (CIPD), the first quarter of 2008 could see nearly 300,000 people lose their jobs in Britain, making it the worst year for jobs since the early 1990s. The organisation is warning that unemployment is set to rise even more over the next 12 months, taking the [...]
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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