UK house prices: Approvals of mortgages slip back in July as interest rate rise looms August 17, 2015 The number of mortgage approvals fell back in July against a backdrop of fears over a rise in the Bank of England’s interest rates, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor. There were 65,356 house purchase mortgage approvals in July, down 1.8 per cent from 66,582 in June and [...]
Bank of England policymaker Kristin Forbes warns against keeping interest rates low for too long August 17, 2015 Bank of England policymaker Kristin Forbes has warned keeping interest rates low for too long risks undermining Britain's economic recovery. Earlier this month, when the monetary policy broke unanimity and voted 8-1 to hold rates, Forbes chose to stick with the majority. The US economist and external member of the monetary policy committee (MPC) said there [...]
Eurozone trade surplus hits six-month high amid weak euro August 17, 2015 The Eurozone's trade surplus soared to a six-month high in June, as growth in exports outpaced imports. The euro area's official statistics agency said it hit €26.4bn (£18.7bn) during the month, up from €16bn a year earlier. Exports from the single currency area to the rest of the world rose 12 per cent to €182.7bn in the [...]
FTSE chief executive pay: How long would it take you to earn as much as these top 10 highest earners? August 17, 2015 The pay packets of the FTSE 100's top bosses has fallen in real terms, with chief executives taking home around £80,000 less than previous years, adjusting for inflation. You probably won't see any of them cutting back, though. That's a drop in the ocean of their annual income from salaries, bonuses, share awards and other remuneration, which [...]
This could spell the end of fixed rate mortgages August 17, 2015 Legislation being shaped by the European Union could make it too expensive for building societies and small banks to offer fixed rate mortgages. If they stopped making these kinds of loans it would vastly reduce the number of fixed-rate mortgages available, according to a report in The Times. Nevertheless bigger banks will still be able to make them [...]
Surprise drop in top dog pay: Report shows FTSE chiefs taking home less cash in real terms August 16, 2015 Average pay packages for FTSE 100 chief execs fell in real terms over the course of the most recently-recorded year, according to a new report out today. Bosses at British blue chip firms took home an average of £4.96m in 2014, compared with £4.92m in 2013, according to the High Pay Centre think tank. Adjusting [...]
Cigarette plain packaging war heating up as new Australian study due for release August 16, 2015 The tobacco industry has hit back at the government’s plan to enforce plain packaging for cigarettes, warning that the ruling will cause a rise in counterfeits being smuggled into the UK. As legal battles rage between the UK government and British American Tobacco, this latest challenge comes after it was revealed yesterday that an official [...]
Most UK tech professionals would consider moving abroad: US, Australia and Canada top of the list August 16, 2015 Silicon Roundabout has proved a lure for many UK tech professionals, but maybe the pull of good coffee and free wifi is wearing off. Nearly three quarters in the industry say they would consider moving abroad for work if the right job came up, according to a poll out today. The figures, based on a [...]
London house prices up nearly 10pc in August as first-time buyers hit hardest August 16, 2015 London house prices have had their most buoyant August for eight years, new figures show. Homes in Greater London are 9.7 per cent more expensive than they were in August 2014, property website Rightmove said today. House prices normally face a drop in August when compared with July, as the holiday period distracts buyers and [...]
Number of confident City workers looking to move jobs doubles in a year August 16, 2015 New figures show workers are becoming more eager to switch jobs, suggesting greater confidence in the economy. The number of professionals looking for new opportunities climbed by 27 per cent in July compared with June, recruiter Morgan McKinley said this morning. While summer tends to see more people looking for vacancies, the 15,866 workers both [...]