Lending on plastic drops November 23, 2011 CONSUMERS are repaying credit card balances more than they are borrowing on plastic, with many Brits “simply going without” new goods instead of adding to their debts. While £7.2bn was bought on credit cards in October, £7.4bn was repaid, according to data released yesterday by the British Banking Association (BBA). Across six months to October [...]
Bank holds stance for now yet QE3 may come in 2012 November 23, 2011 THE BANK of England’s interest rate setting committee voted unanimously to stick to its current policy stance this month, yet many analysts expect a further extension of quantitative easing (QE) early next year. Minutes of the Bank’s November meeting, released yesterday, showed all nine members voted to keep interest rates at 0.5 per cent and [...]
Gender pay gap narrows November 23, 2011 THE PAY gap between men and women has slipped below 10 per cent for the first time, according to official figures released yesterday. With women’s hourly rates rising more than men’s, the gap was recorded at 9.1 per cent in April this year – down from 10.1 per cent in April 2010. Furthermore, women working [...]
Approvals on UK mortgages in shock jump November 23, 2011 HIGH street banks unexpectedly increased their number of mortgage approvals last month, the British Banking Association (BBA) said yesterday. “Reports suggest that some activity may relate to growth in the buy-to-let market as rental yields improve,” the BBA said in its report. Mortgage approvals came in at 76,042, up from 73,334 the previous month. The [...]
What do you want Osborne to unveil next week? November 23, 2011 For this week’s readers’ panel, run with PoliticsHome.com, we want you to have your say on Osborne’s autumn statement, due next Tuesday. Would you like to see the chancellor cut corporation tax faster to support businesses, or would you prefer pensions tax relief for higher-rate earners? And should the government bring forward large infrastructure projects [...]
US consumers rein in spending November 23, 2011 US consumer spending barely rose October as households took advantage of the largest increase in income in seven months to rebuild their savings. The Commerce Department said yesterday that consumer spending edged up 0.1 per cent, slowing sharply from a revised 0.7 per cent increase in September.
American jobless claims steady November 23, 2011 Initial claims for unemployment benefit remained below the 400,000 mark in America for the week ending 12 November, it was revealed yesterday. Initial claims came in at a seasonally adjusted 393,000 from an upwardly revised 391,000 in the prior week.
Durable goods orders on the rise November 23, 2011 New orders for a range of long-lasting US manufactured goods unexpectedly rose in October, but sharp downward revisions to the prior month’s data and weak spending plans by businesses suggested manufacturing was taking a breather. Durable goods orders excluding transportation rose 0.7 per cent last month, the Commerce Department said.
House prices to lift next year November 23, 2011 A shortage of housing in the UK and another potential round of quantitative easing will see house prices rise by 1.6 per cent next year, the Centre for Economic and Business Research expects.
MENSCH HITS THE HIGH STREET TO PRESENT AT HOT WOMEN CEREMONY November 23, 2011 WAS Miriam González Durántez too busy preparing for her move to US law firm Dechert to attend the Red’s Hot Women Awards yesterday? No – the wife of the deputy Prime Minister had an appointment with her children’s nursery that couldn’t be moved. And since these are the awards that celebrate the achievements of working [...]
