UK Economy on the Up

The UK economy grew faster than the 1.1% expected rise predicted by top financial experts. These findings were according to official data from the Office for National Statistics who predicted a rise of 0.6%. This growth showed the fastest quarterly increase since 2006 and a huge improvement from the 0.3% within the first quarter of [...]

UK Economy on the Up

The UK economy grew faster than the 1.1% expected rise predicted by top financial experts. These findings were according to official data from the Office for National Statistics who predicted a rise of 0.6%. This growth showed the fastest quarterly increase since 2006 and a huge improvement from the 0.3% within the first quarter of [...]

Lloyds Banking Group to cut 650 jobs in the UK.

Insurance and back office-based staff in Nottingham and Chester would be hardest hit, the bank said. Lloyds bought the Halifax business as part of its rescue of HBOS in 2008. and it will also close its network of these Halifax-branded agencies, largely based in solicitors and estate agencies, as they are “no longer integral to [...]

600,000 public sector jobs to go

Around 600,000 jobs are expected to be lost in the public sector over the next five years, the Office for Budget Responsibility has said.
Leaked Treasury documents had suggested last week’s Budget could increase unemployment by up to 1.3 million.  Labour’s acting leader Harriet Harman said the Budget would push many people into “abject misery” but [...]

Government raises National Minimum Wage

Welcoming the new rates, TUC General Secretary Brendan Barber said: “We welcome the new Government’s decision to confirm the recommendations of the Low Pay Commission.

“The minimum wage has been a great success, and if this announcement means that this is an area that will see continuity rather than change it will win wide support.”

TUC Secretary Brendan Barber said: “The minimum wage has been a great success, and if this announcement means that this is an area that will see continuity rather than change it will win wide support.”

Public sector pensions face government rebalancing act

Mr Clegg said: “We cannot ignore a spending area which will more than double within five years.”

JP Morgan Fined £33.3m

JP Morgan has been hit with a record fine by the Financial Services Authority today for failing to separate the cash of clients and company cash.  The company has been fined a record amount of £33.3 million when it was discovered that cash balances kept by clients of its large future and [...]

Global stock markets fall amid continued concerns

In Frankfurt the Dax index fell by 2.9%, while in Paris the Cac 40 index was down nearly 3.5%.
Investors in London also suffered a fall in confidence with the FTSE 100 about 2.6% lower, while in New York the Dow Jones index opened 2.5% down.
Investors are favouring the safest assets outside Europe. The spread between [...]

Hips to be scrapped

The new coalition government has started the ball rolling on law changes and has announced that Home Information Packs, which were introduced in 2007 are to be suspended.
Conservatives especially have long been opposed to the information packs.
“Today the new government is ensuring that home information packs are history,” said Housing Minister Grant Shapps.
“By suspending home [...]

Income Tax Revenue Set to Raise

The HM Revenue & Customs (HMRC) have said that it is likely to see a huge rebound in tax revenue this year and expects to raise an extra £10 billion in income tax over the next fiscal year.  They have suggested that nearly all of this will be from 40% & 50% rate taxpayers.
This will [...]

Toyota Knew about dangerous cars 4 months before recall

Toyota faces a whopping $16.3m (£10.6m) fine from the US government after it was found out that they knew of life-threatening safety problems with accelerator pedals in its cars at least 4 months before they recalled them.
This fine will be the biggest civil fine ever to hit [...]

Estate agency probe ‘disappoints’

Obama Bids To Repair ‘Hurting’ US Economy