Mortgage approvals sink, boost eyed from new funding scheme
LONDON - Mortgage approvals fell to their lowest in 3-1/2 years last month, the British Bankers' Association said on Tuesday, adding urgency to hopes that a new official funding scheme will revive the moribund housing market.
Britons less gloomy about finances as inflation falls
LONDON - Britons are taking the least pessimistic view on their future finances in more than two years this month thanks to sliding inflation, a survey showed, fuelling hopes that consumers may have more money left to spend and support the ailing economy.
More banks to review sale of hedging products
LONDON - Seven more British banks have agreed to review past sales of interest-rate hedging products to small businesses and to compensate customers for any misselling which may have occurred, the Financial Services Authority said on Monday.
Government signals clampdown on tax avoiders
LONDON - The government said on Monday it would toughen up oversight of tax avoidance schemes, which could see those who try to aggressively reduce their tax bills named and shamed.
UK firms pay record Q2 dividends
LONDON - UK companies paid a record 22.6 billion pounds in dividends in the second quarter as many firms baulked at spending bumper cash piles on deal making or other forms of capital expenditure in the face of the global economic slowdown.
Marks & Spencer to charge for current account
LONDON - Retailer Marks & Spencer will break ranks from the traditional high street banks by charging monthly fees for current accounts at its new bank, the company said on Wednesday.
Unemployment falls as Olympics seen creating jobs
LONDON - The total number of Britons without a job dropped in the March to May period as the Olympics in London created extra work, data showed, providing a rare bit of positive news from the recession-hit economy.
Shock fall in inflation gives Bank room to act again
LONDON - Inflation fell faster than forecast to its lowest level in more than 2-1/2 years in June, reflecting weak demand in a shrinking economy.
Flagship lending scheme to help firms and households
LONDON - The Treasury and the Bank of England revealed details of a new scheme on Friday to help make around 80 billion pounds of loans more accessible and cheaper for households and businesses, as part of efforts to lift the economy out of recession.
Government eyes household levy to subsidise flood cover
LONDON - British households may have to pay a levy on their home insurance premiums to subsidise flood cover for those in high-risk areas, Environment Minister Caroline Spelman said on Wednesday.
British Land bets 130 million pounds on luxury London market
LONDON - British Land placed a 130 million pound bet on the resilience of London's luxury flat market on Wednesday, though it could sacrifice some flats for offices if signs of a slowdown among wealthy homebuyers increases.
Pension funds press government over infrastructure cap
LONDON - Local government pension schemes want more freedom to mobilise their billions of pounds of assets to spend on roads, power stations and other infrastructure, arguing such a move would chime with central government efforts to boost investment.
Banks behave badly redux: Is it killing confidence?
After the worst financial crisis since the Great Depression almost took the global economy over a cliff, tough new regulations and stronger internal controls at the world's major banks were meant to help restore confidence in the financial system.
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