Brits borrowed billions in April as housing market boomed June 2, 2021 Mortgage borrowing hit £3.3bn in April as house prices rose at their fastest rate in five years, a trend driven largely by the extension of the stamp duty holiday. April’s mortgage borrowing was significantly lower than March’s £11.5bn figure, however, according to the latest figures from the Bank of England, despite mortgage approvals hitting 86,900, [...]
B&Q owner Kingfisher signs £550m credit deal linked to sustainable targets June 2, 2021 Kingfisher has signed a £550m three-year credit deal that will see it benefit from a lower interest rate on the loan if it delivers specific targets to help tackle climate change. Kingfisher, which also owns Screwfix, has updated its climate change targets to reduce emissions by 2026 in a way that will not contribute to [...]
Wizz Air crashes to €576m annual loss as it waits for Covid recovery June 2, 2021 Wizz Air crashes to €576m annual loss as it waits for Covid recovery
Bank of England Governor Andrew Bailey doubles down on climate plans June 1, 2021 The Bank of England Governor has doubled down on promises to carry out policies to help the UK shift to a net zero economy, but warned it was not regulators’ role to enforce change. Central banks have started to outline plans to help steer the path for economies and financial systems as they transition to [...]
Bank of England carefully monitoring rising house prices, says Cunliffe June 1, 2021 The Bank of England is carefully monitoring the rise in house prices which has been largely fuelled by the extension of the stamp duty holiday. A year ago activity in the housing market collapsed in the wake of the first lockdown with transactions dipping to a record low of 42,000 in April 2020. Since then [...]
MPs urge government to donate half of incoming vaccines to Covax scheme June 1, 2021 MPs and peers have urged the UK to adopt a Covid-19 “vaccine matching” scheme in a letter today, which would see half of the doses the arrive in the UK be donated to the Covax scheme. The letter, coordinated by the All-Party Parliamentary Group (APPG), said that prime minister Boris Johnson has a “moral duty” [...]
Foreign Secretary Dominic Raab to intervene in case over £1.4bn of gold deposited in the Bank of England June 1, 2021 In a case that is set to determine the fate of almost £1.4bn of Venezuelan gold deposited in the Bank of England, UK’s Foreign Secretary Dominic Raab has been granted permission to intervene at the Supreme Court during a hearing scheduled for next month. The case at the highest court in the land is between the [...]
Pound retreats after hitting three-year high amid variant concerns June 1, 2021 The pound retreated this morning after reaching a fresh three-year high versus the dollar amid economic recovery hopes. Well into the London session after the bank holiday weekend, sterling reversed its course to fall 0.2 per cent to $1.4183. The pound edged lower as concerns over a new coronavirus strain outweighed increasing investor optimism on [...]
Twickenham rugby stadium turned into walk-in vaccine centre May 31, 2021 Twickenham Rugby Stadium has been turned into a major walk-in vaccine centre in a drive to try to boost vaccinations against coronavirus as cases of the Indian variant surge. Up to 15,000 first dose jabs are being made available for those in the local area who have not yet been vaccinated. The event – called [...]
Caffè Nero slurps up 82 per cent post-restrictions sales spike May 31, 2021 Caffè Nero has enjoyed a sales spike in recent weeks, as restrictions were gradually eased, while it has also repaid all of its Covid financial support. Weekly sales surged 82 per cent as outdoor seating was allowed and then restricted indoor eating was permitted in the last 13 weeks. After paying back a £12.2m Liquidity [...]