Weather hits internet retail as high streets boosted by heat August 18, 2013 ONLINE sales fell two per cent in July, in a reversal of fortunes for internet retailers as shoppers returned to high streets during the heatwave. According to the IMRG Capgemini retail index for July, sales were up by nine per cent in the 12 months to July, but dipped in the month itself, making it [...]
The increase in UK house prices is accelerating August 2, 2013 UK house prices rose at their fastest pace in three years in July, with the average house price increasing by 3.9 per cent compared to the same month in 2012, according to data from Nationwide. Analysts had expected an increase of 3.1 per cent, following 1.9 per cent growth in June 2013. Month-on-month, house prices [...]
What the other papers say this morning – 27 August 2013 August 26, 2013 FINANCIAL TIMES MPs step up campaign to break up RBS MPs are stepping up their campaign for a break-up of Royal Bank of Scotland amid suspicions in Westminster that RBS and Treasury officials will try to scupper a good bank-bad bank split. In a letter in today’s Financial Times, the influential Parliamentary Commission on Banking [...]
Ongoing labour disputes may not hurt Royal Mail shares October 22, 2013 But the stock still faces serious risks after its initial rise in price The surge in the price of Royal Mail shares since trading began on 11 October has been as spectacular as it’s been controversial. After listing at 330p, Royal Mail shares rose almost 60 per cent to push beyond 530p on Monday, before [...]
House prices rise with London leading the way September 17, 2013 The Office for National Statistics has reported that house prices rose 0.3 per cent month-on-month in July, following increases of 0.4 per cent for both June and May. London's house prices are strong – up 9.7 per cent year-on-year in July – which has inflated the annual rate of increase to 3.3 per cent in [...]
Bank capital rules are holding back a credit binge – but also our recovery November 11, 2013 THE RECENT run of better-than-expected economic data and the government’s Help to Buy scheme have sparked talk of a return to credit-fuelled boom and bust. Some have joined renowned monetary policy hawk Andrew Sentance, a former member of the Bank of England’s Monetary Policy Committee, in calling for interest rates to rise sooner rather than [...]
Most London homebuyers pay stamp duty of more than £7,500 August 5, 2013 TWO THIRDS of London home sales attract stamp duty of more than £7,500, according to research based on Land Registry data out today from the TaxPayers’ Alliance (TPA). Figures from the Nationwide show the average price of a London house hit £318,214 in July, meaning potential purchasers must be able to pay £9,500 in cash to the [...]
Brand Index: Account switching means banks must fight to stay current September 17, 2013 THIS WEEK, new rules took effect that will allow the UK’s 46m current account holders to switch banks in seven days. According to 2011 research from the Banking Commission, the average customer stayed with the same bank for 26 years, but with switching now easier than ever before, we could be entering a new era [...]
Nationwide in line to buy RBS SME customers November 27, 2012 NATIONWIDE’S profits were cut almost in half as the building society joined Britain’s banks in increasing its payment protection insurance compensation provisions, as well as recording losses on housing loans in its first half results published yesterday. The building society yesterday confirmed it would like to buy the 316 branches RBS is being forced to [...]
Unconditional welfare failed but work for the dole is hard to deliver October 1, 2013 BOTH work and pensions secretary Iain Duncan Smith and chancellor George Osborne have announced that some sort of “workfare” programme will soon become a reality in the UK, albeit with differences in the details. Osborne spoke of requiring long-term recipients of Jobseekers’ Allowance to participate in community work programmes. Duncan Smith announced a pilot scheme [...]