Competition and sterling hit profit margins October 27, 2014 THE NUMBER of profit warnings issued by companies increased over the summer as margins were squeezed by greater competition, rising input prices, and a strong pound. UK quoted companies issued 69 profit warnings in the third quarter of 2014 – 13 more than the same quarter last year, a report released yesterday by accountants EY [...]
UK workers have £500 a month spare after tax and essentials October 27, 2014 The average employed person in the UK has £500 in spare cash each month, research from Lloyds bank today revealed. After paying bills and buying essential items like food, seven in 10 UK full-time workers have at least 25 per cent of their salary left over. This 25 per cent equates to £500 when considering [...]
UK house price boom bolsters web shopping October 26, 2014 HOUSE price gains helped fuel consumer spending over the past year with new research suggesting a substantial rise in internet searches for home and garden products. Total search volumes for home and garden products grew by 15 per cent in the third quarter of 2014 compared with the same quarter in 2013, figures released today [...]
PwC and MarketInvoice to give small firms investment boost October 26, 2014 AN AGREEMENT between PricewaterhouseCoopers (PwC) and online debt market MarketInvoice, announced today, plans to give businesses extra borrowing options. PwC will inform its clients about MarketInvoice’s financing services and the online firm will refer its clients to the PwC My Financepartner team – accountants who specialise in helping early- to mid-stage firms. MarketInvoice provides an [...]
Fast internet is top priority for home buyers October 26, 2014 A RELIABLE, high speed broadband connection is an increasingly important factor for potential property buyers and renters. Research released today by the Halifax shows that 20 per cent of UK adults are prepared to pay more for a home with a good broadband connection. Of those surveyed, 18 per cent said it was a consideration [...]
Foxtons hit by cooling London housing market October 23, 2014 ESTATE agency Foxtons yesterday warned on future earnings, as the firm fell prey to London’s property market slowdown. Third quarter property sales commissions were £16.4m, down from £17.8m in the same period last year, according to the firm’s interim management statement. The sales figures mark a fall of 7.8 per cent year-on-year in the third [...]
New mortgage hurdles begin to make impact on property market October 23, 2014 THE NUMBER of mortgage approvals fell for the third month in a row as housing market activity continued to slow. Data released yesterday by the British Bankers Association, a trade body for UK banks, revealed that the number of mortgage approvals in September was 39,271 – a 14-month low. The figure marks a 10 per cent [...]
Warm September hits clothing sales, but recovery still on track October 23, 2014 SUPERMARKET sales fell in September due to warm weather, delaying winter clothes purchases, but sales are expected to rebound towards the end of the year. The volume of sales fell by 0.3 per cent from August to September due to a 7.8 per cent fall in clothing sales. Last month marked the fourth warmest September [...]
BoE’s Ben Broadbent: Low interest rates on government debt are down to savings glut October 23, 2014 Interest rates are not low due to central bank policy, but due to economic factors, Bank of England official Ben Broadbent said yesterday. Broadbent is referring to the interest on government debt as opposed to the interest rate set by the Bank. “I read a lot of economic commentary that says interest rates are low [...]
Poor data suggests Eurozone is on brink of triple-dip recession October 23, 2014 Pressure is mounting on Mario Draghi, the European Central Bank president, to increase stimulus efforts after a swathe of poor data revealed the Eurozone was on the verge of a triple-dip recession. The purchasing managers’ index (PMI) released yesterday reveal that France scored a 48.1 for October, which is below 50, and signifies a decline [...]