Finance

Lloyds launches mortgage overpayment scheme

Sat, 13 Mar 2010 18:08:19 GMT

Lloyds Banking Group is inviting its standard variable rate (SRV) mortgage customers to increase their monthly repayments. Under a new scheme that will run for a year, borrowers can overpay by up to 20% without incurring a financial penalty. Research...(read more)

BSkyB adds 5 percent on News Corp bid rumors

Fri, 12 Mar 2010 17:57:41 GMT

Most European equities markets were higher Friday, although the CAC-40 was 0.04 percent lower to 3,927.4 in Paris. The FTSE 100 added 0.15 percent to 5,625.65 in London, while the FTSE 250 gained 0.88 percent to 9,941.56. British Sky Broadcasting Group...(read more)

New mortgage lending plummets

Fri, 12 Mar 2010 14:43:15 GMT

There were 49% fewer house purchase loans approved in January than in December, the Council of Mortgage Lenders (CML) has reported. According to the body, the steep decline “emphatically demonstrates” the impact of the end of the stamp duty...(read more)

Misery for passengers as BA union unveils strike dates

Fri, 12 Mar 2010 11:26:45 GMT

Talks aimed at averting industrial action at British Airways (BA) collapsed earlier this week and, as a result, Unit has today announced BA cabin crew members will strike for three days from March 20 and for four days from March 27. Last month, BA‘s 12...(read more)

Yup! Buying Green Panda Treehouse!

The Financial Blogger — Fri, 12 Mar 2010 10:33:18 GMT

When I was a kid, I loved to write. At school, I had won writing competitions. Not because I know my grammar or for the use of long and incomprehensible words but because of my creativity. I remember getting 100% for one of my compositions and then, after...(read more)

Report reveals “accounting gimmicks” used at Lehman

Fri, 12 Mar 2010 09:42:45 GMT

Accountancy firm Ernst & Young (E&Y) has been criticised in a 2,200-page report over the collapse of Lehman Brothers, and could face legal action as a result. The report has accused E&Y of negligence, while senior management at the bank...(read more)

Consumers warned 2010 will be difficult

Fri, 12 Mar 2010 09:28:50 GMT

British consumers should expect to face more financial difficulty this year than during 2009, a financial expert has claimed. Richard Perks, director of retail research at Mintel, said it is “obvious” that living costs are going to rise while...(read more)

House sales plummet but prices recover to 2007 levels

Fri, 12 Mar 2010 08:52:31 GMT

Since the start of the year, house sales in England and Wales have fallen dramatically, the BBC reports. New data obtained by the BBC from research-based consultancy, Acadametrics, show January transaction levels down 52% on December, at 36,000. February...(read more)

John Lewis staff share £151m bonus pot

Thu, 11 Mar 2010 18:51:33 GMT

John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million. The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million. According...(read more)

“Blue skies ahead”, say IATA

Thu, 11 Mar 2010 18:30:22 GMT

According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year. In January, the industry body said 2009 saw the biggest decline in air passenger...(read more)

Hochschild Mining leads sector lower

Thu, 11 Mar 2010 18:18:22 GMT

European equities markets were lower Thursday after new data from China showed that nation’s inflation hit a sixteen month high in February, causing concerns that China will tighten its monetary policy further. The FTSE 100 was down 0.41 percent to 5...(read more)

Treacherous weather conditions cost insurers £650m

Thu, 11 Mar 2010 18:09:08 GMT

The Association of British Insurers (ABI) today reported the heavy snowfall earlier in the year cost insurers £650 million in weather-related claims. Between December 18 and January 13, when snow and plummeting temperatures swept the country, there were...(read more)

Greece at standstill again in third general strike

Thu, 11 Mar 2010 17:52:59 GMT

Crisis-hit Greece has come to a standstill again today after workers staged the third general strike in as many weeks. The further strike comes after austerity measures to rescue Greece’s debt-stricken economy angered Greek trade unions. Greece is currently...(read more)

US imports and exports down in January

Thu, 11 Mar 2010 17:36:09 GMT

The Commerce Department today announced a fall in US imports and exports, resulting in an unexpected fall in the trade deficit. According to official figures, exports in January dipped 0.3% to $142.7 billion, with less machinery, agricultural products...(read more)

HSBC reunites customers with £10.4

Thu, 11 Mar 2010 13:59:27 GMT

HSBC has reunited customers with £10.4 million held in lost or forgotten bank accounts. The bank, which started searching out owners for unclaimed funds in September 2008, said over 7,000 customers have been reunited with dormant accounts. The average...(read more)