Commuters to get some relief from fare hikes December 5, 2013 RAIL fares will rise by an average of 3.1 per cent next year, after the chancellor pledged to reduce planned receipts by £80m, keeping increases in line with inflation. The government had previously planned to cap the average fare at 4.1 per cent, or one per cent above the retail prices index measure of inflation. [...]
3 electric car myths debunked February 20, 2014 If Tesla Motors' results are anything to go by, it looks like electric cars are taking off. Yesterday, the firm revealed a gross profit of $156.6m (£93.7m) – over six times higher than than a year earlier. The forward-thinking company, which is headed by PayPal and SpaceX founder Elon Musk, saw record transactions of its [...]
House prices drop unexpectedly – but don’t rule out a bubble just yet January 8, 2014 Mortgage lender Halifax has reported that British house prices fell 0.6 per cent month-on-month in December. The unexpected dip in house prices is a stark contrast with the 1.4 per cent month-on-month increase reported for December by Nationwide. In a poll of economists conducted by Reuters before the data release, not one predicted a fall [...]
Lambert: This is banks’ last chance to behave well February 10, 2014 BANKS must treat customers well or face more regulation, Sir Richard Lambert said yesterday as he unveiled his plans for a new body to raise standards in the industry. He wants banks to publish a wide range of information every year, including customer satisfaction, staff training plans and pay structures. Sir Richard hopes this will [...]
UK house prices growth continues forward march January 14, 2014 House prices increased 5.4 per cent in the 12 months to November 2013 – down from the 5.5 per cent increase seen from October 2012 to 2013 but still showing growth gaining momentum across the country, according to data from the Office for National Statistics. England saw 5.6 per cent growth in the 12 months, [...]
What the other papers say this morning – 03 February 2014 February 3, 2014 FINANCIAL TIMES Spain will not interfere on Scotland Spain has no intention of interfering in Scotland’s push for independence and is willing to consider an eventual Scottish application to join the EU as a separate state, the foreign minister said in remarks that will bolster the nationalist campaign. Madrid has long been among the most [...]
City landmark Royal Exchange close to being sold for £80m November 11, 2013 THE OWNERS of the Royal Exchange are understood to be close to signing a deal to sell the historic landmark next to Bank station for £80m. The Irish Bank Resolution Corporation, formed in 2011 by the merger of troubled Anglo and Irish Nationwide, hired property advisers CBRE last month to market the long leasehold in [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
St Jude unlikely to have a significant impact on UK economy October 28, 2013 After strong winds battered the UK today, causing nationwide damage, as well as disruption to transport networks across the City, Howard Archer of IHS Global Insight suggests that the impacts won't be long lasting for the UK economy. Archer says that he doesn't think the storm "will have a significant impact on the economy" as [...]
Santander fears tough leverage rules could make banks riskier November 12, 2013 THE TOUGHER cap on leverage favoured by politicians could make banks riskier, not safer as intended, Santander’s UK retail boss warned yesterday. A group of MPs and peers has been pushing for a four per cent leverage cap, a tighter limit than the three per cent currently in place. Lenders like Nationwide, which specialises in mortgages, [...]