Lenders fear bubble if UK does not get more houses October 8, 2013 MORTGAGE lenders yesterday warned house building levels are still dangerously low, as the government’s new Help to Buy scheme launched with the backing of five banks, including HSBC. The scheme gives a government guarantee to buyers with a small deposit saved up, making banks more willing to lend and increasing the range of mortgages on [...]
Our flawed education system is betraying our young people October 8, 2013 I F YOU want to understand the real crisis facing Britain, look no further than yesterday’s league tables on educational performance. The results were disgraceful: young people in England were rated a shocking 22nd out of 24 OECD countries for literacy and 21st for numeracy. We are the only country where 55-65 year olds are [...]
Q and A: How can I get a loan with Help to Buy? October 8, 2013 Q Am I eligible for a loan with this guarantee? A The loans are available to buy a house for less than £600,000 that you will live in. It only applies to capital repayment loans, and is only for buyers with a deposit of between five and 20 per cent of the price. Q How [...]
What the other papers say this morning – 09 October 2013 October 8, 2013 FINANCIAL TIMES Prosecutors give SAC ultimatum US prosecutors have given SAC Capital until November to resolve criminal charges against the hedge fund founded by Steven Cohen or risk paying more than the $1.8bn offer on the table, people familiar with the matter said. Lawyers for SAC Capital met representatives from the US attorney’s office in [...]
U-turn as IMF hikes forecast for UK growth October 8, 2013 THE INTERNATIONAL Monetary Fund (IMF) revised its forecasts once again yesterday, hiking its expectation for economic growth in the UK to double what it predicted only six months ago. The IMF’s estimate for UK growth was raised further than any other advanced economy in its latest economic outlook. As recently as July, the organisation forecast 0.9 per [...]
US markets slip as Obama warns no immediate end to shutdown October 8, 2013 US MARKETS slipped yesterday as President Obama warned that there is no instant solution to the budget stand-off that has forced the US government into shutdown mode. Obama said Republican opponents in Congress are making it impossible to discuss raising the country’s debt ceiling because they were demanding too many concessions, including a delay to his flagship healthcare [...]
Royal Mail: What happens next? October 8, 2013 LAST NIGHTBrokers struggled to deal with demand as individual investors raced to place their orders for shares in the biggest privatisation for a generation. Institutions had until 5pm to place their orders. TODAYMinisters and bankers begin discussing how the Royal Mail shares will be allocated. Investors are highly unlikely to receive the full amount of [...]
Paul Tucker tells bank directors to toughen up October 8, 2013 BANKS need more non-executive directors who can understand the balance sheet and who can stand up to executives, Paul Tucker said yesterday. The outgoing Bank of England deputy governor told MPs that regulators imposing new rules on banks’ managers and monitoring activity more closely is not enough to stop the sector getting into trouble again, [...]
EDF chief blames green policy costs for driving up energy bills October 8, 2013 THE BOSS of EDF yesterday blamed government policies for raising gas and electricity bills, rather than energy companies reaping increasingly large profits. Vincent de Rivaz, chief executive of the big six energy supplier, told a conference in London that around half of the increase in bills is due to higher wholesale costs, a quarter is [...]
Rail companies to be banned from double digit fare increases October 8, 2013 RAIL companies will not be allowed to impose double digit fare price increases on commuters, the government will announce today. Annual fare rises will be capped at three per cent above inflation, against the existing six per cent limit. With inflation currently running at three per cent it is hoped this will stop what transport secretary [...]
