Tullet Prebon warns of sovereign debt default in 2010
Inter-dealer broker Tullet Prebon, which arranges trades between market participants, has today warned that it expects a second crisis to hit the worldwide economy in 2010 caused by sovereign debt defaults. This is an unwelcome reminder that many governments around the world have seen their ...
Publ.Date : Mon, 08 Mar 2010 22:02:43 +0000

Property buyers holding off until election
In a sign of the times estate agents have warned economists and analysts that homebuyers appear to be holding off in the run-up to the general election. This warning from the property sector would seem to confirm recent surveys which show that house prices appear to have stagnated after a ...
Publ.Date : Tue, 09 Mar 2010 09:12:33 +0000

Is UK sovereign debt at risk?
After the release of today's UK trade data there has been a significant run on the pound and the UK currency saw its sharpest decline for over a week. There are growing concerns regarding the UK housing market, banking sector and today's trade figures have not added much confidence to the ...
Publ.Date : Tue, 09 Mar 2010 15:03:47 +0000

Why is the UK economy struggling so much?
Today’s UK trade figures took stock markets and analysts by surprise with an increase in the trade deficit at a time when many felt the UK was back on track and moving towards a growth period. While there are a number of suggestions as to why the UK trade gap widened in January ultimately it ...
Publ.Date : Tue, 09 Mar 2010 15:03:16 +0000

British Airways considering last-minute deal to avert strike
The Unite union has today stepped forward with last-minute proposals which it believes could save British Airways up to £60 million a year and also avert strike action by cabin crews, expected over the Easter period. This comes at a time when relations between the union and the British ...
Publ.Date : Tue, 09 Mar 2010 22:32:16 +0000

Royal Mail ends long-running dispute with union
The Royal Mail has today confirmed an outline pay deal with the Communication Workers Union (CWU) which will see a 6.9% increase in pay up to 2012 and put an end to what has been one of the longest and most damaging union conflicts in the company’s history. The company appears to have made ...
Publ.Date : Mon, 08 Mar 2010 22:02:09 +0000

Get yourself ready for more junk mail in the future!
Yesterday's announcement that the Royal Mail had agreed a 6.9% pay increase with the union bosses was well received across-the-board. While there have been concessions on both sides it would appear that every household in the UK can expect to receive more junk mail in the future with the ...
Publ.Date : Tue, 09 Mar 2010 09:11:52 +0000

CBI joins clamour for attack on UK budget deficit
The Confederation of British Industry (CBI) has joined forces with a number of prominent UK business associations to call upon the UK government to tackle the growing budget deficit. The last few days have not been easy for Alistair Darling and Gordon Brown with prominent figure after ...
Publ.Date : Mon, 08 Mar 2010 22:03:17 +0000

PwC concerned about return to recession
PwC has today issued a damning report on the UK economy and UK finances with a suggestion that a possible return to recession is a 25% to 30% probability. The report also suggests that the next incoming government will need to find an additional £20 billion a year to balance the books in the ...
Publ.Date : Tue, 09 Mar 2010 09:13:49 +0000

Are property owners in a rush to sell?
The Royal Institute of Chartered Surveyors (RICS) has today issued a report into the UK property sector which appears to show a significant increase in sellers during February. The number of people placing their homes on the market increased twice as fast as those looking to acquire property ...
Publ.Date : Tue, 09 Mar 2010 15:04:19 +0000

FSA forced to delay payment protection insurance changes
Under immense pressure from the financial services industry the Financial Services Authority (FSA) has today confirmed that the consultation period regarding the potential mis-selling of payment protection insurance will be extended by a further six weeks. This is a blow to the consumer ...
Publ.Date : Tue, 09 Mar 2010 22:31:46 +0000

UK savers continue to be ignored
In a sign of the times it has been revealed that savings rates in the UK continue to fall even though the government and various consumer groups have attempted to place pressure upon the financial sector. The top rate for an instant access savings account has fallen from 3.35% to 3% since ...
Publ.Date : Tue, 09 Mar 2010 22:33:16 +0000

HMRC receives critical report from MPs
HM Revenue and Customs (HMRC) has been criticised by a MPs report which suggests that there is "considerable room for improvement" within one of the UK government's key departments. While there is no doubt that the pressure has been on HMRC for some time, being the central hub to the UK ...
Publ.Date : Tue, 09 Mar 2010 09:13:08 +0000

UK trade gap widens unexpectedly
Figures released by the Office for National Statistics show that the UK trade deficit grew from a revised £7 billion in December to £8 billion in January. After the initial downward revision of the December figure which had been originally quoted at £7.3 billion many people assumed that the ...
Publ.Date : Tue, 09 Mar 2010 15:02:49 +0000

Gartmore Group downbeat on the future of the UK economy
Investment giant Gartmore Group today issued figures which confirmed a recovery in the investment markets in the first two months of 2010 but the company is still relatively downbeat on prospects for the UK in 2010. Gartmore saw a net inflow of funds during January and February of £273 ...
Publ.Date : Tue, 09 Mar 2010 22:32:37 +0000