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Archive for January, 2015

Eurozone deflation gathers pace in January

January 30, 2015

Deflation across the 19 countries that use the eurozone currency is gathering pace. In January, prices in the eurozone were 0.6% down on their levels a year ago. The figure shows the eurozone heading deeper into deflationary territory from December, when prices were 0.2% down on the year before. A large contributor to falling prices […]

Sir Winston Churchill’s funeral marked 50 years on

A remembrance service marking the 50th anniversary of Sir Winston Churchill’s funeral is taking place at the Houses of Parliament at the start of a day of UK-wide events. The Havengore, the boat which carried the wartime prime minister’s coffin along the Thames, will make the journey again later. Another service will be held at […]

Property sales across the UK rose by 14% in 2014

Figures from HM Revenue and Customs (HMRC) show that sales went up in every region of the UK. In the last few months of 2014 the number of homes being sold eased off as the market cooled, and price increases also slowed. Mortgage lenders recently forecast that sales this coming year may drop back slightly, […]

Men’s pay has ‘fallen more than women’s in real terms’

Men have seen the real value of their pay fall far more than women in the past few years, according to the Institute for Fiscal Studies (IFS). The think-tank has looked at how earnings have changed since the financial crisis in 2008. It points out that average hourly wages for all employees are still 4.7% […]

Energy firm profit margins to rise, forecasts regulator

The energy regulator Ofgem says the big energy firms are likely to enjoy a small increase in their profit margins in the coming year. At the same time, customers will see a small fall in their annual bills. The forecast comes against the background of international oil prices falling more than 50% since last summer. […]

UK economy records fastest growth since 2007

January 27, 2015

The UK’s economy grew by 2.6% last year, the fastest pace since 2007 and up from 1.7% in 2013, official figures have shown. Figures from the Office for National Statistics (ONS) showed the economy grew by 0.5% in the final three months of 2014. That was a slowdown from 0.7% growth recorded in the previous […]

Iraq War report: MPs’ anger as Chilcot inquiry delayed until after general election

January 21, 2015

MPs have reacted angrily to news that the official inquiry into the 2003 Iraq War will not report until after the general election. Inquiry chairman Sir John Chilcot said he could see “no realistic prospect” of publication before the 7 May election. Deputy Prime Minister Nick Clegg said the delay was “incomprehensible”, while former Conservative […]

State of the Union: Obama demands spread of wealth

US President Barack Obama has declared an end to the financial crisis and pledged economic policies to benefit all Americans, in his annual State of the Union address to Congress. In a speech devised to appeal to working families, Mr Obama outlined his strategy for “middle-class economics”. “It’s now up to us to choose who […]

Cuadrilla Lancashire fracking application ‘should be refused’

A key report has said fracking should not go ahead at two Lancashire sites. The Lancashire County Council report follows an application by energy firm Cuadrilla to explore Little Plumpton and Roseacre Wood for shale gas. It comes a week before councillors are due to make a final decision on the company’s planning application to […]

UK unemployment falls to 1.91m in December

The number of people out of work in the UK fell by 58,000 to 1.91 million, its lowest level for more than six years, in the three months to November, official figures indicate. The unemployment rate now stands at 5.8% of the adult working population, the Office for National Statistics (ONS) said. In total there […]

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