News and comment
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Welcome to your on-line financial newsletter. This service is regularly updated to bring you news of important developments in financial matters.
Citywire News
- Middle classes flock to Aldi, Iceland and Lidl
Wed, 20 Aug 2008 12:34:00 GMT
Discount supermarkets increase market share while the big guns suffer, new research reveals.
- BoE reveals three-way split on August rate hold
Wed, 20 Aug 2008 10:59:42 GMT
The Bank of England's August rate-setting meeting reveals that the monetary policy committee was split three ways before deciding to maintain UK interest rates at 5% by a 7-2 vote.
- Mortgage sales improve but still down 27%, says CML
Wed, 20 Aug 2008 10:34:00 GMT
Gross lending grew 5% in July according to figures from the Council of Mortgage Lenders, but a 27% year-on-year fall points to 'subdued' lending levels in this year's second half.
- Morning Line: US banks back under the spotlight as crisis returns with a vengeance
Wed, 20 Aug 2008 10:23:00 GMT
US banks take a beating as leading economist warns that a big banking name will hit the dust soon.
- Wednesday Morning Market Update: Oils and miners are main props for the Footsie
Wed, 20 Aug 2008 10:00:00 GMT
Another three-way split on this month's rate decision from the Bank's MPC.
BBC Business News
- Discount supermarket sales rise
Wed, 20 Aug 2008 11:21:16 GMT
Discount supermarkets such as Aldi and Lidl see sales grow as cost-conscious UK consumers look to save cash, figures suggest.
- Mortgage lending slump continues
Wed, 20 Aug 2008 11:07:39 GMT
The slump in mortgage lending continued in July, according to the latest figures from the Council of Mortgage Lenders.
- China shares up from 20-month low
Wed, 20 Aug 2008 10:43:13 GMT
China's main share index rebounds from a 20-month low on talk that Beijing will introduce an economic rescue plan.
- Thousands strike in pay dispute
Wed, 20 Aug 2008 10:40:23 GMT
Council workers are staging a 24-hour walkout over pay, disrupting services such as schools, bin collections and ferry crossings.
- Arcelor tightens hold on iron ore
Wed, 20 Aug 2008 09:58:29 GMT
Arcelor Mittal, the world's largest steelmaker, buys Lonmin's Brazilian iron ore assets for $810m.
London Stock Exchange News
- Chinese economy 'to grow by 9% annually'
Tue, 19 Aug 2008 05:16:19 +0100
The Chinese economy can shrug off the worldwide downturn and is poised to grow at around nine per cent in years to come, a representative to a government think tank has forecast.
- MPC member defends rate freezes
Tue, 19 Aug 2008 05:14:19 +0100
Tim Besley of the Bank of England has moved to defend freezing interest rates, despite signs that conditions in the economy are worsening.
- 'Crunch at halfway stage', ex-IMF chief warns
Tue, 19 Aug 2008 05:12:47 +0100
The worst of the credit crunch is yet to come, the former head of the International Monetary Fund (IMF) has warned.
- Children cause of thousands of home insurance claims
Tue, 19 Aug 2008 05:10:29 +0100
Children are the cause of thousands of home insurance claims annually, new figures have shown.
- Lettings market boosted by fall in buyer demand
Tue, 19 Aug 2008 05:08:02 +0100
Dwindling demand from home buyers is boosting the lettings market, it has been revealed.
Mortgage News
- LeadPoint to hold ad:tech seminar
Wed, 20 Aug 2008 11:11:34 GMT
LeadPoint will be hosting a lead generation seminar at ad:tech, a digital marketing conference next month.
- MPC split over rate decision
Wed, 20 Aug 2008 10:55:29 GMT
The Bank of England’s Monetary Policy Committee were divided over the interest rate at its last meeting earlier in the month.
- Abbey cuts rates on fixed and flexible deals
Wed, 20 Aug 2008 10:35:42 GMT
Abbey has reduced its two and three-year fixed rates by up to 0.25%.
- Paraplanners bolster broker businesses, says Bradbury Hamilton
Wed, 20 Aug 2008 10:35:33 GMT
Chartered financial planner firm Bradbury Hamilton is raving about the benefits of including paraplanners in the daily activities of advice firms.
- ERC launches 0.1% cash back deal
Wed, 20 Aug 2008 10:07:09 GMT
Equity Release Club and Just Retirement are giving members access to a 0.1% cash back promotion.
BBC News
- Gay rights champion Leo Abse dies
Wed, 20 Aug 2008 11:49:21 GMT
The former Labour MP Leo Abse, who championed gay rights, has died at the age of 91.
- Chain reaction
Wed, 20 Aug 2008 11:44:05 GMT
Cycle to work faster using tips from Olympic heroes
- Mao's successor Hua Guofeng dies
Wed, 20 Aug 2008 11:41:40 GMT
Hua Guofeng, who succeeded Mao Zedong in 1976, has died in Beijing aged 87, report state media.
- PM's tribute to cancer campaigner
Wed, 20 Aug 2008 11:40:43 GMT
Gordon Brown leads tributes to a campaigning newspaper journalist who has died of leukaemia at the age of 27.
- Fringe comedy shortlist unveiled
Wed, 20 Aug 2008 11:29:49 GMT
The nominees for the top comedy award at the Edinburgh Festival have been revealed.
