Santander to launch no-fee current account November 19, 2009 ABBEY-OWNER Santander yesterday unveiled plans to bring a no-fees current account to the UK, as it ups its bid to take on the big four high street banks. The Santander Current Account – which will have no account, overdraft or overseas withdrawal charges – will only be available to customers who take out a mortgage [...]
Retail sales post increase for October November 19, 2009 UK RETAIL sales in October rose at their fastest annual pace in 17 months, according to official statistics released yesterday. The Office for National Statistics (ONS) said sales were up 3.4 per cent compared to the same month last year. But the 0.4 per cent rise on September was less than the 0.7 per cent [...]
Mortgage lending rises five per cent due to time of year November 19, 2009 MORTGAGE lending ticked up by five per cent in October, according to the Council of Mortgage Lenders (CML), although this was mainly down to seasonal factors. Lending rose to £13.5bn in October, compared to £12.9bn in September, the CML said, although it was still down 27 per cent on the £18.5bn that was lent to [...]
Money supply grows the most in nine months, according to Bank November 19, 2009 THE money supply showed its biggest monthly growth in nine months, raising hopes that the Bank Of England’s £200bn stimulus measures may be working. Official figures released yesterday showed broad money or M4, which is made up of bank and building society deposits and cash, grew by 1.8 per cent in October. That was the [...]
JPM Caz boss is set to quit after buyout November 19, 2009 THE chief executive of the JPMorgan Cazenove joint venture, Naguib Kheraj, is likely to step down after the businesses are fully integrated, it emerged yesterday. Kheraj may discuss an alternative role within JPMorgan at a later date but said he would concentrate on fusing the two banks’ operations in the meantime. A spokesperson said: “It [...]
Smaller rivals are waiting in the wings November 19, 2009 THERE’s no one quite like Cazenove, an industry insider remarked last night. The discreet stockbroker, whose clients were once greeted by gentlemen dressed as butlers, still looks after a third of the firms in the FTSE 100. But its assimilation into US giant JPMorgan will open the field to a raft of younger competitors. Independent [...]
Tips for bagging yourself a new-build bargain in a difficult market November 19, 2009 POLLY COLDWELL, DEPUTY EDITOR OF FIRST TIME BUYER MAGAZINE:1) Ensure the property is big enough for your belongings. Check that there is somewhere to put your hoover, etc. Garages have shrunk as well: measure it to make sure your car fits. 2) New builds are rated for their energy, water and waste under the Code [...]
Murdoch’s plan to make readers pay needs work November 18, 2009 JUST over twenty years ago, Rupert Murdoch changed the face of the British newspaper industry. He smashed the all-powerful print unions, enabling him to cut costs and produce multi-section newspapers that were profitable. There was lots of hand wringing at other newspaper groups, but everyone on Fleet Street followed. Now that the newspaper industry is [...]
Wolseley in grim outlook as profit falls November 18, 2009 SHARES in Wolseley took a hammering yesterday after the world’s biggest builders’ merchant and plumbing supplier said it saw no sign of recovery in its key construction and industrial markets. Group profit plunged 41 per cent in the three months to the end of October to £104m as revenues fell 13 per cent to £13.4bn. [...]
ON BOARD AT LADBROKES November 18, 2009 LADBROKES, the bookmaking group, has appointed two high-profile non-executive directors. The group has invited Trinity Mirror chief executive Sly Bailey (left) and J Sainsbury chief financial officer Darren Shapland to join the board with immediate effect.
