Fixed rate mortgages growing in popularity as rates begin to rise – Mortgage Advice Bureau October 28, 2015 Fixed mortgage rates are growing in popularity, with 96 per cent of homebuyers opting for such products in September amid rising average rates, according to the latest national mortgage index from the Mortgage Advice Bureau (MAB). The average two year fixed rate rose from 2.68 per cent in August to 2.72 per cent in September, [...]
Consumer confidence hit its lowest level for 2015 in September – Lloyds Bank October 28, 2015 Consumer confidence dropped to the lowest level it has been in 2015 during September, the Lloyds Bank Spending Power Report revealed today. The proportion of people who feel comfortable about their household finances also dropped to the lowest it has been for the last five months, said the report. And the number of people [...]
Ford puts the brakes on Dow – New York Report October 27, 2015 Uncertainty over the US interest rate outlook and disappointing results from Ford and other companies yesterday weighed on Wall Street. The Dow Jones industrial average fell 41.62 points, or 0.24 per cent, to 17,581.43, the S&P 500 lost 5.29 points, or 0.26 per cent, to 2,065.89 and the Nasdaq Composite dropped 4.56 points, or 0.09 per [...]
UK steel industry to save millions of pounds after being given extra time to meet EU emissions regulations October 27, 2015 The UK's steel industry is set to save huge sums of money, thanks to flexibility in new EU regulations on emissions. Certain plants across the country will have as many as four and a half extra years to come within the stringent requirements, which are being introduced across Europe in January 2016. The extra time will [...]
UK GDP: Weapons manufacturing, ship repair and steel manufacturing are among the UK’s fastest-shrinking industries October 27, 2015 UK growth fell to 0.5 per cent in the third quarter, analysis by the Office for National Statistics suggested this morning. But while economists pointed to the construction sector for holding back growth, a closer look at the figures reveals it was far from the worst-faring industry during the quarter. That dubious accolade belongs to the coal [...]
Black Friday 2015 UK: Last year’s chaos at Tesco, Asda, John Lewis, Currys and Argos has put bargain hunters off October 27, 2015 Is last year’s mayhem putting a dampener on Black Friday this year? New figures would suggest yes. Black Friday sales drew shoppers in their millions last year as the American shopping extravaganza came to the UK. But the unprecedented throngs left many with a bad taste in their mouth – and this could be a [...]
Northern Powerhouse child development gap: Educational impact of North/South divide visible from age of five October 27, 2015 Children as young as five are suffering from the impact of the north-south divide on their development and education, a think tank has warned. Less than half of children born into the poorest families in the north of England reach a "good standard" of development by school age – but they are behind even their [...]
Pound falls as UK GDP growth slows to 0.5 per cent in the third quarter, held down by construction October 27, 2015 Sterling dipped 0.05 per cent to €1.3875 this morning, after official figures showed the UK's economic growth slowed in the third quarter of this year, held back by falls in manufacturing and construction output. The Office for National Statistics (ONS) said the economy grew 0.5 per cent between July and September, missing economists' expectations for 0.6 per cent growth, and down from 0.7 [...]
Hammersmith & Fulham, Kensington & Chelsea, Westminster, Wandsworth and Camden most prosperous parts of UK – but Outer Hebrides is the happiest October 27, 2015 Londoners may have to put up with crowded commutes, overpriced properties and a complete misunderstanding of the phrase "work-life balance" but naysayers be warned: the capital's residents have just been named the most prosperous in the UK. Topping the list of 170 places in the UK are Hammersmith & Fulham and Kensington & Chelsea followed by Westminster, [...]
Older homeowners tapping into their properties for cash hits 11-year high October 27, 2015 Equity release lending recorded its biggest jump in the third quarter in 11 years as more homeowners tapped into the value of their property to boost their finances. Equity release schemes are targeted at older homeowners, allowing them to take cash from the equity built up in their property without the need to sell up. [...]