Inflation hits 27-month high February 15, 2011 INFLATION reached its highest rate since November 2008 last month, as escalating price pressures and tax hikes continue to hammer households suffering from sluggish wage growth and rising unemployment. While inflation on the consumer price index (CPI) climbed 0.3 per cent to four per cent, the tax and price index (TPI) – which includes the [...]
Why firms need to be freed to spend February 15, 2011 DESPITE repeated promises from the coalition that it would tackle the burden of red tape, a raft of new employment rules are set to come into force over the next few years. As we report on page 1, these will cost UK firms billions of pounds in extra recurring costs, even on the government’s own [...]
Do you agree with the bank’s rates decision? February 10, 2011 ANDREW CLAUDET | CHEESWORTHS “My gut feeling is they should have raised rates. It’s a tough call really. But I am worried about inflation because I think the rates they publish are not always indicative of costs, for example with petrol prices. I’m a saver so my savings aren’t going to be worth much.” GAJ [...]
Rates risk for repossessions February 10, 2011 REPOSSESSIONS fell by 24 per cent last year, while the number of mortgages in arrears also dropped, the Council of Mortgage Lenders (CML) said yesterday. Yet stubbornly high inflation has heightened the risk of a hike in interest rates, which would lead to an upturn in repossessions, the CML said. “As we go through 2011, [...]
The top ten real causes of the crisis February 9, 2011 IN the end, Merlin turned out a damp squib. This is goodish news, because the deal is based on a faulty interpretation of the crisis. Here are the ten most important causes of our problems. 1) Loose, ultra-interventionist monetary policy from central banks that kept stepping in whenever growth slowed or the stock market fell. [...]
Merlin claims to boost lending to businesses February 9, 2011 HOUSTON, we have an agreement.” So joked one of the chancellor’s key allies yesterday, clearly relieved to have finally signed a deal of sorts with the four Merlin banks. But the government has got precious little for the weeks it has spent locked in negotiations with HSBC, RBS, Lloyds and Barclays. Here City A.M. looks [...]
PERSONAL FINANCE NEWS February 9, 2011 42 PER CENT PREFER DOG TO PARTNER It is a sad day for British romance when 42 per cent of British people prefer their dog or cat to their partner. A survey conducted by M&S Pet Insurance shows that when it comes down to the “me or the dog” question, 42 per cent would always [...]
VAT shock yet to be passed to consumers February 8, 2011 INFLATION in UK shops rose to 2.5 per cent in January – from 2.1 per cent in December — despite retailers absorbing much of the hike in VAT, a comprehensive survey revealed today. Even more price pressure could spill through to consumers in the coming months, the British Retail Consortium warned. “Retailers generally took the [...]
Yorkshire and Clydesdale Banks deliver “sound” quarter February 8, 2011 Yorkshire and Clydesdale Banks are on track to deliver £10bn of new lending to business and mortgage customers by October, its owner said today. Trading in the three months to the end of December was “sound and resilient” although “subdued demand for credit and low interest rates continue to restrict balance sheet and income growth”, [...]
For some, it’s a borrower’s market February 2, 2011 FANCY a new car, luxury holiday or that longed-for loft conversion but don’t have the cash? This could be the moment for you to bag a bargain. As businesses struggle amid the economic downturn, they are offering some very good deals, at least to certain clients. With care, you may be able to net an [...]