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The odds on the Bank of England cutting interest rates for the second time in four months lengthened yesterday after the release of a raft of better than expected economic data. The latest snapshot of the housing market by leading lender Nationwide showed prices jumped 1.3 per cent, the fastest rate in 15 months, bringing [...]
It was just a matter of time before someone made a move on the British company, so Telefonica’s offer for O2 was no big shock. But there’s still time for other rivals to muscle in on the act, says Ben Griffiths. Since splitting off from BT four years ago, O2 has persistently found itself unable [...]
Bank of England data released yesterday sent out mixed messages, with mortgage approvals at their highest level in more than a year, but unsecured lending slowing down. Bank figures showed that house purchase approvals rose to 107,000 in September, up marginally from 106,000 in August. This puts mortgage approvals at their highest level since June [...]
A report by the World Trade Organisation (WTO) has warned that the world faces a long-term trend of lower growth. Although global goods trade is predicted to grow slightly more than usual next year, the organisation’s director director general Pascal Lamy has warned that the world badly needs the successful resolution of the Doha world [...]
Some say British drugs companies should be able to profit in order to reinvest in newer drugs for the greater good. Some say their profits come on the back of scientific fraud. It is perhaps one of the great puzzles of British business. As a nation we spend less on medicines than our European neighbours, [...]
The rush of companies floating on AIM continues apace, with three companies making their debuts yesterday and two more announcing their IPOs on the junior market in the coming days. They join the growing number of companies quoting on AIM, where 389 firms have floated since the start of the year. In comparison, only 71 [...]
Manufactures expect to cut jobs over the next quarter at a faster rate than the last three months to October, according to the CBI. “The decline in headcount was broadly in line with expectations, though firms expect to cut jobs at a moderately faster rate over the next three months,” the business group announced in [...]
Fears that Britain is plunging towards a bad debt crisis were heightened yesterday as figures suggested proceedings to repossess homes have risen by 55 per cent. Actions begun by lenders rose to 29,991 in the three months to the end of September from 19,359 last year. There has been a 66 per cent rise in [...]
Bank of England governor Mervyn King has warned that the British economy is about to embark on a bumpy ride over the coming years after the stability enjoyed in recent times. At a hearing in front of a House of Lords parliamentary committee, King said people should not expect the Bank to “fine tune the [...]
Abbey is to mount an assault on the British mortgage market by plugging into new business areas. The bank, which was taken over by Spanish group Santander for £8bn last year, wants to make up ground lost to its rivals in the areas of lending to buy-to-let investors, people wanting loans for new-build properties, and [...]
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