Tech to simplify moving home May 8, 2014 Melissa York meets the Tech City whizzes behind Plentific.com FINDING somewhere to live can seem like a never-ending headache, especially if you’re doing it for the first time. But Plentific, the latest in a series of tech start-ups looking to grab a slice of the property market, wants to use technology to take the stress [...]
What you need to know before the US open May 8, 2014 US markets are expected to open higher today following Vladimir Putin’s more conciliatory stance towards the Ukrainian election, and better than expected initial jobless claims numbers. The number of people signing on for unemployment benefit for the first time fell by 26,000 last week, to 319,000. Over here in Europe, both the Bank of England [...]
Bank of England inaction threatens house price bubble, warns analyst May 8, 2014 April saw a rare fall in house prices, according to the latest data from Halifax. They dropped by 0.2 per cent, a small monthly decline. But on an annual basis, UK house prices are now up by 8.5 per cent in the three months to April. House prices are driven by supply and demand, and [...]
Yellen: Low rates to stay as labour market still unsatisfactory May 7, 2014 Janet Yellen has today defended the US’s central bank’s accommodative policy, saying it still remains warranted – it’s not rushing to raise interest rates. Giving her testimony to Congress, this is Yellen’s first opportunity to speak following April’s improved jobs figures. Dismissing concerns over growth stangation in the first quarter – which, she said, were [...]
What you need to know before the open May 7, 2014 With the situation in Ukraine deteriorating, global markets are finding it difficult to push higher. The improvement in economic data from Europe yesterday was paired with the OECD slashing its forecast for the Russian economy. And that’s been followed this morning with some less-than-impressive services data for China, which makes it look less likely the [...]
House supply shortfall set to push prices higher May 1, 2014 HOUSE prices are now surging upwards at double digit rates across the country, as a Bank of England deputy governor indicates that the climb is set to continue. Sir Jon Cunliffe’s speech in London yesterday suggested that the lack of houses and ongoing recovery could continue to push prices up. “There is good reason to [...]
Business lending falls at sharper rate despite continuing recovery May 1, 2014 THE BANK of England announced yesterday that business lending is still declining, and more quickly than in earlier months. Net lending to the UK’s non-financial firms dropped by £2.3bn between February and March, the fastest fall since November. The continued decline in lending to companies comes despite solid economic growth in the first quarter of [...]
What you need to know before the open April 30, 2014 A slightly lower open is expected in Europe this morning, as earnings results continue to come in and investors look to economic data from both sides of the Atlantic. Growth data from the US could well show a weaker number after the freezing winter, and after that we’ve for the Federal Reserve’s rate decision. A [...]
UK banks face tough tests to prove their resilience April 29, 2014 BRITAIN’S biggest banks must be able to cope with a housing crash of the type seen in the 1980s, under a trial set up by the Bank of England to make sure the system is strong and safe. The fictional crisis scenario would see the economy shrink by 3.5 per cent, unemployment soar to nearly [...]
Mortgage borrowers now face tougher questions on finances April 28, 2014 HOME buyers will have to show they can cope with a rise in interest rates when applying for a mortgage, under new rules introduced over the weekend. The City watchdog hopes households will be protected from losing their homes if interest rates rise, and lenders will only give out higher quality loans. Self-certified loans are [...]