Eurozone money supply and lending pick up in January February 25, 2016 Lending and money supply growth in the Eurozone picked up in January, according to figures published by the European Central Bank this morning. Borrowing by households climbed 1.4 per cent compared with the same month last year, the same rate as in December. However, lending to non-financial corporations bounced back to 0.6 per cent growth from 0.1 [...]
Do you use the UK’s worst bank? Barclays voted the most disappointing bank – while First Direct is named top lender February 25, 2016 It's been a tough few months for the UK's lenders. And not one to miss a chance to kick a bank when it's down, Moneysavingexpert has unveiled its ranking of the UK's best and worst lenders – and it's not looking good for Barclays. The ranking put First Direct at the top, with 91 per cent of current account customers [...]
Countrywide blames volatile residential sales market for 40 per cent drop in profits February 25, 2016 Britain's largest residential property services group Countrywide suffered a 40 per cent slump in profits last year after a slowdown in house sales following the General Election and increasing competition from online agents took its toll on the group. The company, which owns 50 high street brands including Hamptons, Blundells and John D Wood, said pre-tax profits slumped to £47.7m in [...]
As regulation and legal red tape increases, are professionals in the city and financial services becoming the scapegoats? February 25, 2016 Since the 2008 financial crisis, banks and other City organisations have faced a more intense glare from the spotlight of regulators. Record penalties have been handed out, such as the $5.6bn in fines imposed on some of the most well-known global banks in relation to foreign exchange manipulation early last year. Some banks have reacted to this increased [...]
S&P: Russian economy is heading for a second year of recession in 2016 February 25, 2016 Credit ratings agency Standard & Poor's has warned that the Russian economy is on course for a second year of recession, as commodity prices continue to career lower. S&P predicts that the Russian economy will shrink by 1.3 per cent in 2016, as opposed to the 0.3 per cent growth it had previously forecast. It also [...]
House building is accelerating but one estate agent says it is unlikely to help young buyers February 25, 2016 House building in England picked up toward the end of last year, but remains substantially below pre-recession levels. Builders started work on 37,080 new properties in the three months to December, the Department for Communities and Local Government said this morning. It marks a six per cent increase on the previous six month period but [...]
Eurozone inflation edges up to eight-month high in January as impact from cheap oil starts to wear off February 25, 2016 Eurozone inflation hit an eight-month high in January as the impact of cheaper oil prices began to wear off. Annual price inflation hit 0.3 per cent, EU statistical office Eurostat said this morning. While the inflation reading was slightly lower than a previous estimate of 0.4 per cent, it is the highest annual price growth [...]
St James’s Place share price up after company hikes dividend and reveals strong operating profits for the year ended December 2015 despite uncertainty in global stock markets February 25, 2016 Share price in St James's Place rose today as the company impressed investors with a healthy operating profit for its year ended December 2015 and a hike to its dividend. The wealth management company reported operating profits of £660.2m for 2015, up from £596.4m in 2014, while profits from new business rose to £440.7m, up [...]
Premier Oil share price falls as losses widen on oil price rout February 25, 2016 The figures The UK-based Premier Oil's pre-tax losses swelled by 128.9 per cent to $829.6m in the year ended December 31st, up from $362.5m in 2014. The independent oil and gas company also announced $583.5m of impairment charges on lower near-term oil price assumptions, mainly relating to its North Sea Solan field project. Revenue fell 35 per cent to $1.1bn while oil [...]
More and more people are planning ahead for their death by looking for ways to cover funeral costs February 25, 2016 More and more people are planning ahead for the financial costs of their final days, according to analysis from a funeral plan provider. According to Golden Charter, the number of sales for pre-paid funeral plans shot up by nearly 25 per cent in 2015. Collectively across the UK people now hold more than a million pre-paid [...]
