Coalition’s pension shake-up is a major error October 25, 2010 The proposals for a new state pension are straight from the old Lib Dem handbook. The government wants to raise the state pension and pay it to everybody regardless of National Insurance contribution (NIC)?records. There are problems with the current system, but sustainable reform is possible. The contributory principle should be strengthened and the two [...]
Government eyeing a flat rate state pension system October 25, 2010 Britain’s coalition government is working on the introduction of a flat rate state pension, business secretary Vince Cable said yesterday. Cable gave no indication of the overall cost of the proposed reform, which aims to simplify the state pension system, reduce inequalities between men and women and encourage people to save for their pensions by [...]
A SOBERING WARNING FOR OSBORNE AS CAM SWINGS INTO ACTION October 25, 2010 CHAOS as the great and the good gathered for the annual CBI conference on Park Lane yesterday. The delayed start gave David Cameron a chance to prove he’s been reading those zeitgeist briefings: “Sorry for the delay,” he told the gathered business chiefs and hacks. “Like Ann Widdecombe, I had to be hitched by a [...]
UK Mortgage approvals at ten-year low October 25, 2010 MORTGAGE lending fell to its lowest level in a decade in September, the latest figures from the British Banker’s Association (BBA) showed yesterday confirming earlier figures produced by the Council of Mortgage Lenders (CML) last week. Gross mortgage lending stood at £8bn last month, 10.8 per cent lower than a year earlier. The number of [...]
US foreclosures set for probe as Bernanke admits concern October 25, 2010 FEDERAL Reserve Bank chairman, Ben Bernanke, said yesterday the initial findings of an investigation by US regulators into home foreclosures would be published in November. Bernanke said federal banking agencies were conducting an “in-depth” review of practices at the largest US mortgage lenders as he addressed a joint conference of the Fed and the Federal [...]
US house sales surge in September as prices fall October 25, 2010 HOUSE sales in the US soared 10 per cent in September as buyers capitalised on low prices and a rising number of foreclosures, figures released yesterday showed. Sales jumped by 4.53m from August to September the National Association of Realtors (NAR) said. Despite the recover, sales remained almost 20 per cent lower than a year [...]
Cheesegrater skyscraper to get go ahead October 25, 2010 British Land is teaming up with Canada’s Oxford Properties to develop the Leadenhall Building in the City financial district, the second crisis-hit skyscraper project to be revived within a week. Britain’s second-largest property company yesterday said it had agreed terms to build the 47-storey scheme in a 50:50 joint venture with the real estate arm [...]
London office rents suffer as demand wanes October 25, 2010 OFFICE rents in London and other European capitals rose at a slower rate and demand fell in the last three months, prompting experts to warn that public spending cuts could stunt a recovery in deals. Demand for office space in London, Moscow and Stockholm drove a modest 0.7 per cent rise in prime rents between [...]
Digital sales boost Pearson October 25, 2010 Strong digital sales at publishing group Pearson helped boost its third quarter performance, pushing up its full-year forecasts. The group now expects full-year earnings to be 10 per cent ahead of 2009 figures, with profits in the last three months up eight per cent year-on-year. Sales at Penguin were up five per cent, education business [...]
BT doubles its apprentice scheme as demand surges October 25, 2010 COMPETITION to become Alan Sugar’s apprentice may be fierce, but it is nothing compared to the fight to become a BT apprentice. While contestants on the BBC show must fight off just 15 other candidates, graduates hoping to work at the former state telecoms provider have 24,000 to worry about. The demand for places is [...]
