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Sharp interest rate rises on the way, predicts think tank

Influential think tank, the Policy Exchange, has warned interest rates may be hiked to 8% by 2012, in order to combat stubbornly high inflation. Interest rates remain at the 300-year record low of 0.5% – where they have been since March 2009 –...

Published 08-23-2010 8:08 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, interest rates, Bank of England, rise, think tank, MPC, Monetary Policy Committee, Policy Exchange

ONS report rise in retail sales in July

The economy received a boost today after UK retail sales grew much faster than expected in July. According to the Office for National Statistics (ONS), retail sales during the month grew 1.1% on the month – beating analysts forecasts of 0.4%. This...

Published 08-19-2010 12:20 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, Office for National Statistics, ONS, warning, rise, retail sales, expectations, beat, July, austerity measures

Number of second homeowners soar to record levels

Research by estate agent Knight Frank has found the number of second homeowners in England has soared to a record level of almost a quarter of a million. According to the estate agent, a change in holiday plans mean an increasing amount of buyers believe...

Published 08-18-2010 9:11 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, Property News, investment, research, rise, sterling, homeowners, second, Knight Frank

Euro zone inflation sees sharp rise in July

Annual inflation in the 16-member euro zone has increased from 1.4% in June to 1.7% last month – a 20-month high. On a monthly basis, prices fell 0.3% in July. According to the EU statistics agency Eurostat, inflation was driven by higher fuel costs...

Published 08-16-2010 3:26 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, euro zone, Economy News, inflation, rise, growth, VAT, Eurostat, July, European Union, fuel costs, 20-month high

Return to 2008 mortgage rates to cost £1,800 a year

With a rise in the Bank of England’s (BoE) base rate inevitable at some point in the future, accountancy firm, PricewaterhouseCoopers (PwC), has been assessing the potential effect on UK homeowners of average mortgage interest rates moving back...

Published 08-13-2010 10:07 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Mortgage News, 2008, rise, average, mortgage interest, PricewaterhouseCoopers, extra, mortgage payments

Australia unemployment rate rises to 5.3% in July

Figures today revealed Australia’s unemployment rate rose unexpectedly to 5.3% in July from 5.1% in June. According to the Australian Bureau of Statistics, 24,600 more people were out of work surprising analysts who had expected no change. However, experts...

Published 08-12-2010 8:38 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, recession, Australia, unemployment, rate, rise, avoid, surprise, Australian Bureau of Statistics, July

Mortgage lending improves in June but CML cautious

Despite the doom and gloom surrounding the housing market currently, there is some positive news from the Council of Mortgage Lenders (CML). According to the CML, 52,000 new loans were granted to home buyers in June – 19% higher than in May and...

Published 08-11-2010 11:06 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, lending, Mortgage News, mortgage, Royal Institution of Chartered Surveyors, first-time buyers, CML, rise, Council of Mortgage Lenders, deposit, cautious, improve, June, remortgaging

China’s inflation continues to accelerate

Chinese inflation continued to increase last month as devastating floods drove up the price of food as crops were wiped out. According to the National Bureau of Statistics (NBS), the closely-watched consumer price index rose 3.3% in July against 2.9%...

Published 08-11-2010 8:34 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, inflation, rise, China, growth, National Bureau of Statistics, exceed, target, July, floods, NBS

UK jobs market recovery in danger of stalling

Cutbacks in the public sector will be impacting on UK jobseekers across all sectors between now and the end of the year, according to research from The Chartered Institute of Personnel and Development (CIPD). The professional body has warned that employers...

Published 08-09-2010 9:19 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, survey, index, CIPD, Chartered Institute of Personnel and Development, unemployment, rise, job cuts, private sector, public

US jobless claims rise unexpectedly

Official figures show that the number of US workers filing new claims for jobless benefits rose unexpectedly last week to a high not seen since April. The figures show that initial jobless claims rose more than 4% to 479,000 in the week ended July 31...

Published 08-05-2010 6:45 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Economy News, US, Labor Department, housing market, rise, consumer spending, unexpectedly, double dip, concern, jobless claims

Barclays first half profit up 44%

Today’s results from Barclays has reinforced that the banking sector is in recovery mode after the bank reported a 44% rise in profits. The bank, which is one of the few not to have received any financial help from the Government, said pre-tax profits...

Published 08-05-2010 7:52 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Banking News, Barclays, Lloyds, HSBC, rise, profits, first half, banking sector, investment bank, 4.4%

Standard Chartered first half profits rise

Standard Chartered bank has today unveiled a 10% increase in profits for the half-year ending June 30. The bank, which has a strong presence in Asia, said pre-tax profit came in at £1.96 billion during the six month period, a rise from the £1.78 billion...

Published 08-04-2010 8:47 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, Banking News, rise, downturn, caution, profits, challenging, Asia, first half, Liverpool Football Club, sponsor, Standard Chartered

Exxon Q2 profits surge 91%

Exxon Mobil, which is the world’s largest oil company, has today announced profits nearly doubled in the April to June period – easily exceeding analysts’ expectations. The oil giant said net earnings rose to $7.56 billion, or $1.60 a share...

Published 07-29-2010 6:06 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, rise, Company News, expectations, profits, exceed, BP, Exxon, Shell, quarter two, Chevron

Euro zone economic sentiment surges in July

The euro zone received a boost today after a report revealed business and consumer confidence surged to its highest level since March 2008. Confidence in the 16-member nation rose to 101.3 in July, up from a revised 99 in June, according to the European...

Published 07-29-2010 12:35 PM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, euro zone, Economy News, index, rise, confidence, business, consumer, European Commission, July, debt crisis

British Gas profits boosted by cold winter

British Gas has today reported a sharp rise in profits due to an increase in gas usage during the icy conditions experienced earlier this year. Its parent company Centrica said operating profits totalled £585 million for the first half of 2010 –...

Published 07-28-2010 8:46 AM by Finance Markets: Finance News | UK Personal Financial News & Daily Finance Market News

Filed under: All Financial News, new customers, rise, Company News, profits, British Gas, icy winter, gas usage

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