Latest News

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The Consumer Prices Index (CPI) fell to 1.5% in May compared with 1.8% in April, new figures from the Office for National Statistics (ONS) reveal. It is the sixth consecutive month that inflation has been below the Bank of England's 2% target. Falls in...
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The number of people who think that now is a good time to buy a home is at its lowest level since June 2008, the Building Societies Association (BSA) Property Tracker report has revealed. Some 29% of respondents believe that now is a good time to buy, down...
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Credit Suisse International (CSI) and Yorkshire Building Society (YBS) have been fined by the Financial Conduct Authority (FCA) for failing to ensure financial promotions for CSI’s Cliquet Product were "clear, fair and not misleading". CSI was...
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Tax credits claimants are being warned about scam or "phishing" emails sent out by fraudsters in the run-up to the 31 July renewal deadline, HMRC said on Monday (16 June). It said nearly 24,839 phishing emails were reported during last year’s...
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The number of benefit decision appeals dropped by 79% to 32,546 between January and March 2014 compared to the same time last year, the Department for Work and Pensions (DWP) has revealed. This figure comes after the Government implemented changes to the way...
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New legislation to bolster customers' rights throughout the European Union came into effect on Friday (13 June), the European Union has announced. The new EU Consumer Rights Directive was designed to strengthen consumers' rights when they...
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A joint review by the Treasury, the Bank of England and the Financial Conduct Authority (FCA) will look into the way wholesale financial markets operate, the Chancellor of the Exchequer, George Osborne, announced yesterday (12 June). The objective is to raise...
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Interest rates may rise this year, the Governor of the Bank of England, Mark Carney, hinted during a keynote speech on Tuesday (10 June). He said a rate rise "could happen sooner than markets currently expect," the BBC reports. Mr Carney emphasised...
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A record employment rise saw nearly 5,500 more people in work every working day over the last three months, the Department for Work and Pensions (DWP) announced yesterday (11 June). The number of private sector workers is up by more than two million since...
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New measures will end outdated rules preventing London residents from renting out their own homes on a short-term basis to visitors, Communities Secretary, Eric Pickles, said yesterday (9 June).  There were nearly five million overseas visitors to the...
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Companies can now bid for a share of £100 million from a scheme to help them strengthen their domestic supply chains and help bring manufacturing back to the UK, the Government announced yesterday (9 June). The funding will provide research and...
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The UK's deficit on trade in goods and services was estimated to have been £2.5 billion in April 2014, compared with £1.1 billion in March 2014, according to new figures from the Office for National Statistics (ONS) published on Friday (6...
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Figures released Friday (6 June) show that new business grew by 7% in April 2014, compared with the same month last year, the Finance & Leasing Association (FLA) has revealed. Credit card finance and personal loans grew by 3% in the same period, as did...
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There are concerns about how childcare support plans set out in the Queen’s Speech on Wednesday (4 June) will operate in practice, the Low Incomes Tax Reform Group (LITRG) has said. The Government is to introduce a Tax-Free Childcare scheme to give...
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Logbook lenders that want to continue operating under current regulation will need to dramatically raise their standards, the Financial Conduct Authority (FCA) said yesterday (5 June). The regulatory body has published new research that revealed evidence of...
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New research reveals that over 13 million homes in the UK could reclaim up to £1.2 billion worth of credit between them, independent switching service uSwitch has revealed. The number of households in credit with their energy supplier has risen to 52%...
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Britain should raise taxes on higher value properties and build more houses, the European Commission has said. It urged the Government to reform the "regressive" council tax system as taxes are relatively higher on low value homes than high value...
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Pension reforms were at the heart of the Queen's Speech yesterday (4 June), as the monarch set out the legislative programme for the final year of the coalition Government. A house building drive and a commitment to reform the EU were also high on the...
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A global accounting standard that will overhaul the way businesses record revenue on their books has been unveiled by regulators. The Financial Accounting Standards Board (FASB), which writes book-keeping rules in the United States, and the International...
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An independent Scotland would face bigger spending cuts and higher tax rises than previously predicted if it is to balance the books, a think tank has suggested. The Institute for Fiscal Studies has updated its calculations, based on the latest downgraded...
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Economic growth reached a record high in May, posting the highest reading since data began in 2003, according to the latest Confederation of British Industry (CBI) growth indicator. The survey of 726 respondents across the manufacturing, retail and service...
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Employees will soon be able to contribute to Dutch-style collective pensions, the Queen is expected to announce on Wednesday (4 June) in her Speech. The policy is part of the Government's new Pensions Bill. Under the changes, which could be introduced by...
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New data released today on the profile of mortgage lending in Greater London in the first quarter of 2014 shows that first-time buyers in Greater London took out 11,900 loans; a decrease of 11% compared to the fourth quarter of 2013 but up 29% compared to the...
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The returns insurers can generate doing deals with corporate pension schemes are set to come under pressure, the head of Aviva has warned. Chief executive of the British life insurer, Mark Wilson, has told investors it is “inevitable” profit...
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From Sunday 1 June 2014, the amount that customers can invest in Premium Bonds will increase to £40,000, up from the current maximum of £30,000, National Savings and Investments (NS&I) said on Wednesday (28 May). As customers increase their...