Standard Life announces 500 job losses
Edinburgh-based insurance and pensions giant Standard Life has today announced 600 job cuts over the next 15 months although the company did confirm that an additional 100 new posts would be created. The vast majority of the job losses, around 480, are expected to come from the company's ... read more
Publ.Date : Wed, 01 Sep 2010 15:35:49 +0000

Ofgem to investigate door step utility agents
Ofgem, the utility regulator, has today announced an investigation into the sales tactics of doorstep agents representing the likes of Scottish Power, Scottish and Southern Energy, EDF Energy and npower. This investigation has been announced after an increase in complaints against doorstep ... read more
Publ.Date : Thu, 02 Sep 2010 09:27:27 +0000

UK construction sector mirrors concerns for the UK economy
The unprecedented increase in productivity between April and June, which saw British construction output increase by 8.5%, appears to be cooling with the latest purchasing managers index showing that this relatively high degree of growth has slowed markedly of late. Those involved with the ... read more
Publ.Date : Thu, 02 Sep 2010 13:38:52 +0000

Why did the banking super tax fail?
Alastair Darling, the former Chancellor of the Exchequer, today revealed that in his opinion the banking super tax issue by the former UK government has failed. Despite the fact there had been hopes that this particular tax, on bonuses over £25,000, would bring in significant tax income for ... read more
Publ.Date : Thu, 02 Sep 2010 13:37:38 +0000

How long will it take to repair the UK PLC balance sheet?
Over the last few weeks there has been one headline in the financial press and that is public sector spending and the massive cuts already announced by the UK government with more to follow. Many people have also been focusing upon the ever growing national debt in the UK which is now ... read more
Publ.Date : Wed, 01 Sep 2010 22:14:56 +0000

Royal Bank of Scotland cuts headcount by 3500
The Royal Bank of Scotland has today confirmed that 3500 jobs will go in the company's technical and back-office division mainly as a consequence of the sale of 318 high street branches to Spanish giant Santander. This is yet another blow for the Royal Bank of Scotland which has now shed ... read more
Publ.Date : Thu, 02 Sep 2010 13:38:07 +0000

US Federal Reserve dismisses protection for large financials
The US Federal Reserve has today issued a statement suggesting that the days of "too big to fail" institutions are well and truly in the past amid hopes that no one group of companies will ever again hold the worldwide economy to ransom. There is no other sector in world which could attract ... read more
Publ.Date : Thu, 02 Sep 2010 15:15:35 +0000

Currency trading hits record high
A report by the Bank for International Settlements has highlighted the massive growth in the worldwide currency markets with London pretty much outpacing the rest of the world. The vast majority of currency transactions are carried out in the London market where growth has been around 25% ... read more
Publ.Date : Wed, 01 Sep 2010 15:34:32 +0000

Alistair Darling admits that banking super tax has failed
Former Chancellor of the Exchequer Alastair Darling has this week delivered a speech suggesting that his "banking super tax" which was supposed to hit those receiving bonuses in excess of £25,000 a year has effectively failed. He believes that due to the very loose wording of the regulations ... read more
Publ.Date : Thu, 02 Sep 2010 09:27:52 +0000

Nationwide survey shows house price decline
The Nationwide property survey has today revealed that UK property prices fell by 0.9% between July and August which appears to show the rate of decline is speeding up from 0.5% in July. While the year on year increase in UK property prices still stands at 3.9% this is down sharply from the ... read more
Publ.Date : Thu, 02 Sep 2010 13:38:31 +0000

IMF warns on UK debt mountain
The IMF (International Monetary Fund) has today warned a number of countries around the world, including the UK, that long-term fiscal reform is required to address ever growing national debt. This comes with a forecast that UK gross debt to gross domestic product will increase from a figure ... read more
Publ.Date : Thu, 02 Sep 2010 15:14:59 +0000

Coventry Building Society slashes mortgage rates
The Coventry Building Society has this week announced significant reductions on a number of fixed rate mortgage arrangements which are certainly catching the eye of property buyers. From the 31 August the Society has cut its two-year fixed rate to 2.99% with a three-year arrangement at 3.59% ... read more
Publ.Date : Wed, 01 Sep 2010 22:16:17 +0000

Austerity fears hit the UK manufacturing sector
The UK manufacturing sector has seen growth fall to a nine-month low in August with major concerns about the government’s austerity measures coming to the fore. The UK government is literally cutting the public sector budget by billions upon billions of pounds and at the same time increasing ... read more
Publ.Date : Wed, 01 Sep 2010 22:15:19 +0000

Northern Ireland property market fragile
It would appear that hopes of a short to medium-term recovery in the Northern Ireland property market may well be dashed with news that property prices fell by 2.5% in the second quarter of 2010 compared to the first quarter. While the year on year increase compared to the same period last ... read more
Publ.Date : Wed, 01 Sep 2010 15:35:00 +0000

UK government accused of raising pension age too quickly
The National Association of Pension Funds has today stepped into the mix to suggest that the UK government is being "too hasty" with regards to proposals to increase the state pension age for men to 66 years of age from 2016. The Association believes the government should look to equalise the ... read more
Publ.Date : Wed, 01 Sep 2010 22:15:44 +0000