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Economic News News

Economic-news

Taylor Wimpey; housing; housebuilding; developer; development; house; construction

UK mortgage approvals rise in June, BBA reveals

Wed, 23 July 2014

UK mortgage approvals rose in June despite the introduction of stricter rules on borrowing, data from the British Bankers' Association (BBA) revealed on Wednesday. The BBA's members approved 43,265 m... [more]

Shaftesbury; property; housing; retail; London West End

UK retail sales rise in July, CBI data shows

Wed, 23 July 2014

UK annual retail sales growth accelerated in July, signalling a recovery in consumer spending, according to a survey by the Confederation of British Industry (CBI) on Wednesday. The CBI distributive ... [more]

mark carney bank of england

Bank of England votes unanimously on policy decision - UPDATE

Wed, 23 July 2014

The Bank of England (BoE) voted unanimously on keeping interest rates at a record low of 0.5% and asset purchases at £375bn, minutes from the central bank's last meeting revealed on Wednesday. A... [more]

Factory

UK factory orders slow in July, CBI reveals

Tue, 22 July 2014

UK factory orders slowed more than forecast in July, the Confederation of British Industry (CBI) revealed on Tuesday. The CBI survey's monthly total order book balance eased back to +2 from +11 in Ju... [more]

retail04

Pop-up retailers could add £2.1bn to economy this year

Tue, 22 July 2014

Pop-up retailers are set to add £2.1bn to the UK economy in 2014, a study by CEBR and EE has found. The research showed that the trend for temporary shops, which operate from stalls or empty ret... [more]

UK banks to set aside a further £1bn for PPI compensation

Tue, 22 July 2014

The UK's biggest banks will next week announce that they have set aside a further £1bn to meet payment protection insurance (PPI) mis-selling related compensation claims, reports have claimed. A... [more]

UK borrowing narrows slightly in June

Tue, 22 July 2014

Public-sector borrowing in the UK improved slightly in June but not as much as economists had expected, prompting concerns that the government is struggling to meet its fiscal targets. Net borrowing ... [more]

Tobacco stocks slide after RJ Reynolds hit with $23.6bn fine

Mon, 21 July 2014

London-listed tobacco stocks slid after a US jury imposed punitive damages against RJ Reynolds Tobacco Company. America's second largest cigarette company was told by a Florida court to pay a punitiv... [more]

Young people choosing houses over weddings, research shows

Mon, 21 July 2014

Around one quarter of the UK's young people opt to cut their wedding budget by £5,000 to buy their first home, research by HSBC has found. 28% of the 18- to 34-year-olds questioned said that if ... [more]

UK ready for impact of tougher sanctions on Russia, Osborne says

Mon, 21 July 2014

Chancellor George Osborne said the UK is ready to accept the consequences of imposing greater sanctions against Russia. The move to increase the European Union's sanctions comes after a Malaysian pas... [more]

EY ITEM Club increases 2014 growth forecast to 3.1%

Mon, 21 July 2014

The EY ITEM Club on Monday upgraded its UK growth forecast for 2014 to 3.1%, saying higher levels of employment and weak levels of wage inflation had positioned the economy in a "sweet spot". EY had ... [more]

UK house prices drop for first time this year, Rightmove reveals

Mon, 21 July 2014

UK house prices fell for the first time this year in July as stricter rules on mortgage lending curbed the market. The average asking price for a UK home dropped 0.8% from £272,275 in June to &#... [more]

UK shopper numbers and consumer confidence fall in June

Mon, 21 July 2014

The number of UK shoppers fell last month and consumer confidence took its first tumble of 2014, dealing a fresh blow to the fragile economic recovery. There were 0.7% fewer people in the shops in Ju... [more]

Mortgage lending at highest level in eight months, CML says

Fri, 18 July 2014

UK mortgage lending rose 4.4% to £17.5bn in June compared to a month ago, according to the Council of Mortgage Lenders (CMS) on Friday. It was 17% higher than June last year and the highest mont... [more]

Gaza unrest drives uncertainty in European markets

Fri, 18 July 2014

The unrest in Gaza continued to fuel a downturn in markets on Friday as Israel upped its attacks on the Middle Eastern enclave. Analysts said Israel's invasion of the narrow strip which is home to 1.... [more]

UK households concerned about finances, Markit reveals

Wed, 16 July 2014

UK households have signalled the weakest confidence about their finances in six months, according to economic research group Markit on Wednesday. The monthly Household Finance Index dropped to 42.1 i... [more]

UK unemployment falls but wage growth slows

Wed, 16 July 2014

The UK unemployment rate has fallen to 6.5%, its lowest rate since 2008 and two years before Bank of England Governor Mark Carney had targeted this level. However, pay growth has also lagged inflatio... [more]

UK house price inflation rises, ONS reveals

Tue, 15 July 2014

UK house price inflation rose at the highest rate in four years, according to data from the Office for National Statistics (ONS) on Tuesday. Annual house price inflation reached 10.5% in May, compare... [more]

US interest rates to remain low for considerable time, says Yellen

Tue, 15 July 2014

Federal Reserve Chair Janet Yellen on Tuesday signalled that interest rates will remain low for some time since the US economic recovery is "not yet complete" and too many Americans remain unemployed.... [more]

BIS warns of fresh financial crisis as investors ignoring risk

Tue, 15 July 2014

The Bank for International Settlements (BIS) has warned that the global economy is as vulnerable to a financial crisis as it was in 2007. Higher debt ratios and weak emerging markets are threatening ... [more]

UK Education Minister gets boot, Eurosceptic gets Foreign Office

Tue, 15 July 2014

Prime Minister David Cameron has fired Michael Gove as Education Minister on Tuesday, with Foreign Secretary William Hague given the chance to resign as Foreign Secretary. Nicky Morgan, Minister for ... [more]

Carney highlights concerns on UK housing market

Tue, 15 July 2014

Bank of England (BoE) Governor Mark Carney appeared before UK lawmakers on Tuesday to discuss last month’s half-yearly Financial Stability report. Expanding on the report’s proposal to curb mortgage ... [more]

UK inflation rises close to BoE target - UPDATE

Tue, 15 July 2014

UK inflation rose more than forecast in June to a level just below the Bank of England’s target of 2%. The consumer price index (CPI) climbed 1.9% in the year to June, jumping up from 1.5% in May, th... [more]

Young adults have "borne the brunt" of recession, survey shows

Tue, 15 July 2014

Younger people have had it harder than others since the financial crisis, having to deal with falling employment and lower wages, a study on Tuesday showed. According to the Institute for Fiscal Stud... [more]

Rate hike fears and England World Cup exit dampen UK retail sales

Tue, 15 July 2014

The spectre of interest rate hikes and England's early exit from the World Cup resulted in the lowest growth in UK total retail sales last month since May 2011, a survey showed. Total sales rose 0.6%... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Capita 1,199.00 3.81 14:31
Marks & Spencer Group 452.50 2.24 14:31
Associated British Foods 2,890.00 2.08 14:31
GKN 354.20 1.96 14:31
ARM Holdings 896.50 1.76 14:31

FTSE 100 Top Fallers

Name Last Chg.% Time
GlaxoSmithKline 1,460.00 -6.11 14:31
SSE 1,498.00 -2.79 14:31
Hargreaves Lansdown 1,070.00 -2.01 14:31
Mondi 1,033.00 -1.71 14:31
Weir Group 2,707.00 -1.49 14:31