Which part of the UK has the most debt? South East and the East of England July 29, 2015 Individuals living in the south east of England are saddled with more debt than people in any other part of the country. They have the highest median financial debt, estimated at more than £4,500, while Londoners are most likely to struggle with repaying their debts, according to new analysis from the Office for National Statistics [...]
CBI industrial trends survey: British manufacturers are being hurt by the strong pound July 29, 2015 The strength of the pound and the Greek debt crisis continue to make life difficult for Britain's manufacturers. The CBI's monthly industrial trends survey showed firms' order books fell to their lowest level since July 2013. The monthly gauge dropped to -10 this month, from -7 in June, although it remains above the historical average [...]
The Prudential Regulation Authority has two new board members David Thorburn and Dr Norval Bryson July 29, 2015 The Bank of England's Prudential Regulation Authority (PRA) is about to get two new board members. The Bank announced the appointment of former Clysdesdale and Yorkshire Banks chief executive David Thorburn, and Dr Norval Bryson who's due to step down as deputy chairman of Scottish Widows and non-executive director of Lloyds TSB, effective from September 2015. [...]
The National Association of Estate Agents: Number of house hunters hits an 11-year high July 29, 2015 The number of people hunting for a new home in Britain hit an 11-year high last month amid a dwindling housing stock and sky-high prices. Figures released today by the The National Association of Estate Agents (NAEA) showed around 439 house hunters were registered to each estate agent branch in the UK last month. This [...]
Pound jumps as UK economy grows 0.7 per cent in the second quarter July 29, 2015 The pound jumped against the dollar as data showed Britain's economic recovery picked up pace in the second quarter of this year. Read more: These charts show just how dependent UK growth is on London The Office for National Statistics (ONS) said the economy grew by 0.7 per cent between April and June, from 0.4 per [...]
Time to move to Chatham? Best value commuter towns cut thousands off London house prices July 29, 2015 A one hour commute can knock around £450,000 off the average price of a house, according to new research published today by a major UK bank. Towns which are an hour’s commute from central London, which include Crawley, Newbury, Colchester and Chatham have an average property price of £272,000 – a significant contrast to the average [...]
Summer sizzler: Over £11bn of UK-focused takeover deals on horizon as market heats up July 28, 2015 The deals market sprang back into action yesterday, with four major takeovers unveiled after a relatively quiet month on the transactions front. Over £11bn worth of UK-focused takeovers are now on the cards, after Melrose agreed to sell portfolio company Elster for £3.3bn and pharma group Hikma bought a US drugs business for £1.7bn. GKN [...]
Bank of England’s Andy Haldane raises the stakes for UK companies as new speech challenges “shareholder-centric model” July 28, 2015 Bank of England chief economist Andy Haldane has stepped up his case for an overhaul of UK corporate governance with the publication of a surprising new speech. In the previously unpublished speech, first delivered at the University of Edinburgh in May, Haldane argues for a “fundamental re-rooting of company law” to challenge the “shareholder-centric company [...]
UK consumer confidence hits the high notes as interest rate rise looms July 28, 2015 British shoppers are at their most confident since September, new survey figures reveal this morning. The consumer confidence index published by YouGov and the Centre for Economics and Business Research (CEBR) climbed to a score of 114 in July. Consumers are most optimistic on their job security, business activity and house values. However, there has [...]
George Osborne’s budget deficit elimination plan gets IMF seal of approval July 28, 2015 Chancellor George Osborne’s plans to eliminate the budget deficit by 2020 received a thumbs up from the International Monetary Fund (IMF) yesterday. While some have argued that his aim to balance the state books is a risk to the UK’s economic recovery, the IMF said that sustainable growth would require moving away from public [...]