FTSE 100 rises on the upbeat profits
The FTSE 100 index today moved higher on the back of strong results from AstraZeneca, Rolls-Royce, BAE systems, Cobham and BT. The index has been fairly volatile over the last couple of months although over the last couple of weeks there has been a significant rebound in investor confidence ... read more
Publ.Date : Thu, 29 Jul 2010 13:30:29 +0000

Number seeking mortgage advice up by 24%
It has been revealed that in the first half of 2010 there was a near 25% increase in the number of people seeking mortgage advice before deciding whether to dip their toe into the property market. Historically the mortgage market has been fairly straightforward and independent financial ... read more
Publ.Date : Wed, 28 Jul 2010 20:38:06 +0000

EU gets tough on banking remuneration
The European Union has effectively forced the Financial Services Authority (FSA) to review current regulations regarding banking remuneration and bonuses. While the FSA currently has various regulations in place regarding bonuses and remuneration in the banking industry, a consultation paper ... read more
Publ.Date : Thu, 29 Jul 2010 13:29:03 +0000

Surprise surprise, King endorses regulatory shakeup
As Mervyn King attempts to build a regulatory empire the like of which we have not seen in the UK for many years he today endorsed the UK government's decision to strip the FSA of the majority of its powers and pass them back to the Bank of England. Despite the fact that the Bank of England ... read more
Publ.Date : Wed, 28 Jul 2010 20:37:06 +0000

UK house prices fell in July
It has today been revealed, via the Nationwide property survey, but UK house prices fell by 0.5% in July bringing the annual rate of house price inflation down from 8.7% last month to 6.6% to the year ended July. The cost of a property in the UK has now fallen to around £170,000 and there are ... read more
Publ.Date : Thu, 29 Jul 2010 11:00:14 +0000

UK house prices back to 2006 levels
Despite the fact that house prices in England and Wales have increased each month for the last eight months, and are in fact 8.4% higher than a year ago, they are only now back to levels seen some four years ago in August 2006. This was 12 months before the credit crisis struck home and ... read more
Publ.Date : Wed, 28 Jul 2010 19:16:42 +0000

Is the period of reward for failure coming to an end?
The Financial Services Authority (FSA) has today confirmed that in the future new rules on remuneration will relate to 2,500 companies in the UK as opposed to just 27 at the moment. The "new" remuneration code will bring in a number of factors currently being discussed by the European Union ... read more
Publ.Date : Thu, 29 Jul 2010 14:35:45 +0000

Is George Osborne handing the keys for the UK economy to Mervyn King?
Over the last couple of weeks we have seen mention of various changes on the UK regulatory front all of which appear to point to Mervyn King effectively becoming "kingmaker" in the UK. While there is no doubt that the Conservative party had always intended to pass regulatory control of the UK ... read more
Publ.Date : Thu, 29 Jul 2010 13:29:51 +0000

Does Mervyn King know something we don't?
Yesterday's rather downbeat statement by Mervyn King, the governor of the Bank of England, has opened a new argument with regards to the future of the UK economy. There are concerns that Mervyn King is aware of bad news on the way with regards to the economy as he has in the past been fairly ... read more
Publ.Date : Thu, 29 Jul 2010 10:59:44 +0000

UK government support for electric car market
After a period of relative uncertainty regarding the future of electric cars in the UK, the UK government has today reiterated a subsidy programme introduced by the Labour government which will see up to £5000 handed over to those who acquire an electric car, a plug-in petrol/electric hybrid ... read more
Publ.Date : Wed, 28 Jul 2010 19:15:58 +0000

UK mortgage data points to downturn
The Bank of England has today issued funding data regarding the UK mortgage market showing that mortgage approvals were down from 49,461 in May to 47,643 in June, well below initial forecasts of 49,000. Net mortgage lending growth eased to £665 million in June from £838 million in May, again ... read more
Publ.Date : Thu, 29 Jul 2010 11:02:41 +0000

UK government to introduce pension fund changes
The UK government is set to introduce changes to the UK pension fund system which could severely impact the value of final salary pension schemes in the UK. Only hours after BP chief executive Tony Hayward left the group with a rumoured £600,000 a year pension the government is set to reduce ... read more
Publ.Date : Wed, 28 Jul 2010 19:17:21 +0000

The forecast for UK house prices is very depressing
While the National Institute of Economic Research has today issued a report regarding the UK property sector, with a forecast that house prices will fall by 8% in real terms by 2015, this is not the worst forecast currently in the marketplace! read more
Publ.Date : Wed, 28 Jul 2010 20:37:36 +0000

Lawyer loses retirement case
Leslie Seldon, a former partner of Clarkson Wright and Jakes solicitors, has lost a discrimination case at the Court of Appeal with regards to the fact he was forced to retire at 65. It would appear that under the terms of this partnership agreement he was forced to retire from the company ... read more
Publ.Date : Thu, 29 Jul 2010 11:00:53 +0000

George Osborne denies pact with Bank of England
George Osborne, the Chancellor of Exchequer, has today rubbished claims that the UK government has made some form of informal pact with the Bank of England with regards to the level of UK base rates. This comes only 24 hours after Mervyn King, the governor of the Bank of England, suggested ... read more
Publ.Date : Thu, 29 Jul 2010 13:29:24 +0000