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Think tank urges central bank to keep interest rates low

admin — Mon, 17 Jan 2011 17:43:33 +0000

Influential think tank, the Ernst & Young Item Club, is urging the Bank of England not to be pressurised into lifting UK interest rates as it could threaten the economic recovery. Interest rates have been at the historic low of 0.5% since March 2009 – when the economy was in the midst of recession. Despite [...]
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Chinese house prices continue to edge higher

admin — Mon, 17 Jan 2011 17:43:33 +0000

Chinaâ€™s property prices rose for the fourth consecutive month in December, albeit at a slower pace. According to the National Bureau of Statistics, prices rose 0.3% in December, taking the annual rate to 6.4% – although this is half of the peak reached in April 2010 – when prices surged 12.8%. However, prices have remained [...]
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Coalition to encourage shared maternity leave

admin — Mon, 17 Jan 2011 17:43:32 +0000

Deputy Prime Minister Nick Clegg will today outline proposals which will encourage fathers to take parental leave. Mr Clegg described the current system as “Edwardian” and, as a result, the coalition Government will consult on a “proper” system of shared parental leave to be introduced in 2015. Currently, men are entitled to take two weeks [...]
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Euro zone ministers to discuss raising rescue fund

admin — Mon, 17 Jan 2011 17:43:29 +0000

A meeting of euro zone finance ministers will take place today to discuss enlarging the effective capacity of the European Financial Stability Facility (EFSF). The move comes after speculation mounts that weaker euro zone nations will need to tap the facility for emergency funds. Portugal and Spain are both under scrutiny and face pressure to [...]
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UK producer prices rise higher than forecast

admin — Sun, 16 Jan 2011 03:10:00 +0000

The Office for National Statistics (ONS) today revealed producer output prices increased 0.5% in November on the month, after Octoberâ€™s 0.4%. The forecast was for a rise of 0.4% and takes the annual rate to 4.2%. According to RBS economist Ross Walker, it will make â€œuncomfortableâ€ reading for the Bank of England and will raise [...]
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Fresnillo leads miners, FTSE 100 lower

admin — Sun, 16 Jan 2011 03:10:00 +0000

European equities markets were mixed Friday, with some declines coming on concerns about new moves by China to rein in inflation, a new survey showing US consumer sentiment down, and on data which said that inflation in Germany grew at its fastest pace in over two years in December. The FTSE 100 was down 0.36 [...]
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CML: Mortgage lending remained subdued in November

admin — Sun, 16 Jan 2011 03:10:00 +0000

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in November. However, the month is traditionally a quiet one as prospective buyers opt to wait until the New Year to purchase a home. The number of loans approved for those buying a new home remained flat at 44,000 during the month [...]
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US retail sales rise in December

admin — Sun, 16 Jan 2011 03:10:00 +0000

The Commerce Department has revealed US retail sales grew for the sixth consecutive month in December. Sales grew by 0.6% on the month – although this was less than the 0.8% expected by analysts. December’s increase was less than in the previous two months, as retailers started their sales early, while parts of the country [...]
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Portugal succeeds in raising Â£1 billion in bond sale

admin — Thu, 13 Jan 2011 12:51:43 +0000

Portugal has today raised Â£1 billion via the sale of bonds, although analysts say this does not mark the end of the countryâ€™s problems. Portugal was successful in borrowing â‚¬1.25 billion via a bond auction but fears remain that the debt-ridden country may still require an emergency bailout from the EU – something which Prime [...]
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Barratt homebuying scheme allows parents to borrow on behalf of kids

admin — Thu, 13 Jan 2011 12:51:41 +0000

Barratt Developments has announced a tie-up with Hitachi Capital (UK) that will allow parents to borrow money to help their children onto the property ladder. The developer claims the scheme is unique in the market, having been specifically designed to address current mortgage restrictions on loan-to-value ratios. Barratt sold 4,832 homes during the second half [...]
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