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There were 49% fewer house purchase loans approved in January than in December, the Council of Mortgage Lenders (CML) has reported.
According to the body, the steep decline “emphatically demonstrates” the impact of the end of the stamp duty holiday, in December.
First-time buyers recorded the largest drop among house purchasers: in January, approvals were down to
Fri, 12 Mar 2010 14:43:15 +0000
Misery for passengers as BA union unveils strike dates
Talks aimed at averting industrial action at British Airways (BA) collapsed earlier this week and, as a result, Unit has today announced BA cabin crew members will strike for three days from March 20 and for four days from March 27.
Last month, BA‘s 12,000 cabin crew members voted to take industrial action over cost-cutting measures,
Fri, 12 Mar 2010 11:26:45 +0000
Report reveals “accounting gimmicks” used at Lehman
Accountancy firm Ernst & Young (E&Y) has been criticised in a 2,200-page report over the collapse of Lehman Brothers, and could face legal action as a result.
The report has accused E&Y of negligence, while senior management at the bank were said to be involved in “lazy accounting gimmicks” to conceal the fact that the bank
Fri, 12 Mar 2010 09:42:45 +0000
Consumers warned 2010 will be difficult
British consumers should expect to face more financial difficulty this year than during 2009, a financial expert has claimed.
Richard Perks, director of retail research at Mintel, said it is “obvious” that living costs are going to rise while income is squeezed.
The tough times are “really still to come,” Perks said.
“That doesn’t necessarily mean we are
Fri, 12 Mar 2010 09:28:50 +0000
House sales plummet but prices recover to 2007 levels
Since the start of the year, house sales in England and Wales have fallen dramatically, the BBC reports.
New data obtained by the BBC from research-based consultancy, Acadametrics, show January transaction levels down 52% on December, at 36,000.
February looks little better with an estimated 40,000 completed sales, although seasonal trends, winter weather, and the end of
Fri, 12 Mar 2010 08:52:31 +0000
John Lewis staff share £151m bonus pot
John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million.
The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million.
According to John Lewis chairman, Charlie Mayfield, the company’s 70,000 staff - or partners, as John Lewis refers to them
Thu, 11 Mar 2010 18:51:33 +0000
According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year.
In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II.
The global economic downturn had a devastating impact on the
Thu, 11 Mar 2010 18:30:22 +0000