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Archive for April, 2014

GHERKIN TOWER

April 25, 2014

London’s Gherkin has been placed into administration, with Deloitte’s paving the way to sell the skyscraper. Deloitte said defaults on the building were due to the Gherkin’s “complex, multicurrency capital structure”. The value of the loan to Gherkin’s co-owners, German real estate company IVG Immobilien, has increased by more than 60pc since the skyscraper was […]


STRONGER RETAIL SALES

British retail sales edged up unexpectedly in March, official data showed on Friday, suggesting consumers are still at the forefront of Britain’s strong economic recovery. Consumers, many of them buoyed by a strengthening housing market, have so far been the main driving force behind Britain’s rapid economic recovery. And although household income has been squeezed […]


RBS BONUS STOPPED

Royal Bank of Scotland has been forced by the government to scrap plans to pay bonuses equal to as much as 200 per cent of salaries. It has been reported that the lender has said that UK Financial Investments, which oversees the taxpayer’s 81 per cent ownership of RBS, told the board it would vote against any […]


NEW MORTGAGE RULES

Mortgage applicants face tougher questions about their lifestyle, under new rules that take effect on Saturday 26th April 2014. The changes are designed to “hardwire common sense” into the mortgage application process, the Financial Conduct Authority (FCA) said. The Council of Mortgage Lenders (CML) said the transition to the new rules would be smooth, despite […]


BRITAIN’S ECONOMY

April 17, 2014

Britain’s economy maintaining momentum as BoE holds steady – Reuters Poll Britain’s economykept up its strong rate of growth at the start of 2014 and is expected to slow only marginally as the Bank of England leaves its main interest rate at rock bottom for another year, a Reuters poll found. The poll of 50 […]


WAGE INCREASE

After nearly six years of falling real wages, rises in weekly earnings have finally caught up with inflation. Weekly wages, including bonuses, rose by 1.7% in the year to February, up from 1.4% in January, according to the Office for National Statistics (ONS). Consumer Prices Index (CPI) inflation stood at 1.7% in February and fell […]


FULL EMPLOYMENT TARGET SET BY OSBORNE

April 2, 2014

Chancellor George Osborne on Monday sounded a brighter note on the economy as the country gears up for an election in just over a year, and set a target of “full employment”. The pledge, made in a speech to employers and recently hired workers, marked a change in tone from Osborne, who has previously sought […]


IFA IN IMPOSSIBLE POSITION.

Two elderly clients trapped in a suspended unregulated investment scheme have been offered an alternative Ucis fund by the company, but Martin Bamford has claimed this is unsuitable for them. The managing director of Surrey-based Informed Choice said he had been put in an “impossible position” by tougher regulatory guidelines surrounding Ucis promotion. Last week […]


OSBORNE CONCERNED BY FCA BEHAVIOUR

The news that the FCA was going to investigate pensions, life insurance and endowment policies issued between 1970 and 2000 was leaked to a national newspaper last Friday. Martin Wheatley, the FCA’s chief executive, admitted the leaked launch of the insurance industry inquiry was “not our finest hour”. It caused some insurance stocks to plunge […]


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