Mortgage approvals flatline in wake of stamp duty holiday January 4, 2022 The number of mortgages approved in November last year exceeded expectations, despite dropping slightly compared to the previous month. Some 66,964 mortgages were approved in November 2021, according to fresh data published by the Bank of England this morning. Although November was down on October’s figure of 67,103 the number of approvals exceeded real estate [...]
Inflation could push past seven per cent in 2022, economists caution January 4, 2022 Inflation could push past the seven per cent mark this year, economists have cautioned, as living costs swell. The new year could bring the highest levels of inflation since the 1990s, economists told The Times, after prices rose by 5.1 per cent in the year to November. More than a third of economists forecast inflation [...]
Energy chiefs urge government to step in to cool cost of living crisis January 3, 2022 Energy chiefs have called on the government to step in and ease the cost of living crisis looming over British households. The chief executive of Octopus Energy told Times Radio that unless the government intervened in the market, soaring gas prices will hit consumers hard. Greg Jackson said: “Unless action is taken, we will start [...]
UK house prices accelerate at fastest pace since before financial crisis December 30, 2021 UK house prices have accelerated at their fastest pace since before the financial crisis, shooting up over 10 per cent over the last year, reveal fresh figures released today. The cost of buying a home in Britain hit £254,822 this month, the highest price on record and up around £24,000 since December last year, according [...]
Omicron curbs and roaring inflation could tip economies into double dip recessions, warns World Bank top economist December 29, 2021 A return to strict restrictions on daily life to curb the spread of Omicron and roaring inflation could plunge the world’s leading economies into double dip recessions, according to the World Bank’s chief economist. Speaking to The Telegraph, Carmen Reinhart, the organisation’s top economist, said the emergence of the new strain of coronavirus and historically [...]
Best of the year: the business stories of 2021 December 29, 2021 Back in April, Credit Suisse got entangled in a “disaster pile-up” involving Greensill and Archegos. Eliot Wilson wrote of how the Swiss bank lost billions of dollars because of its relationship with the US based hedge fund Archegos and the now infamous Greensill Capital. This kind of economic catastrophe happens when banks have risk management [...]
NHS sends out 650,000 text messages and 50,000 letters in fresh drive to get Covid booster jabs into Brits’ arms December 29, 2021 The NHS will be sending around 650,000 text messages and 50,000 letters to people who have not yet received their top-up dose, encouraging them to roll up their sleeve and have a “jabby new year”. The efforts are part of a fresh drive to get Covid booster jabs into arms to protect against the fast-spreading [...]
Pubs could stay open until 1am to celebrate Queen’s Platinum Jubilee December 26, 2021 Pubs, clubs and bars could be allowed to stay open for an extra two hours during the bank holiday weekend marking the Queen’s Platinum Jubilee.
UK to hold platinum party of the century for the Queen this June: Bigger and bolder than Victoria’s Diamond Jubilee in 1897 December 26, 2021 Britain is planning one of its biggest celebrations ever as new government plans will allow pubs, clubs and bars to stay open into the early hours over next year’s bank holiday weekend to mark the Queen’s Platinum Jubilee. Venues across England and Wales would be able to continue serving customers for an extra two hours [...]
Ex-TSB chief Richard Meddings frontrunner: City banker emerges as preferred candidate for NHS England chairman role December 24, 2021 In a bid to make NHS England more “accountable” for its funding, a City banker is set to become the body’s new chairman. The Department of Health and Social Care confirmed former TSB chairman Richard Meddings is the Government’s preferred candidate for the role on Thursday. The Telegraph reported that ministers wanted Mr Meddings to [...]