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Tories pledge to scrap savings tax for low paid
Mon, 05 Jan 2009 13:25:15 +0000
LONDON (Reuters) - The Conservatives called on Monday for taxes on savings to be scrapped for those with low incomes in the party's opening salvo of the New Year in its bid to show voters it can help them in an economic downturn.
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Bank to cut rates by 50 basis points
Mon, 05 Jan 2009 14:22:12 +0000
LONDON (Reuters) - The Bank of England will slash interest rates to a record low when it meets on Thursday as evidence piles up that the economy has slumped into a deep recession, a Reuters poll showed.
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Jobless to get extra help with mortgage payments
Mon, 05 Jan 2009 11:47:34 +0000
LONDON (Reuters) - Extra help for mortgage payers who lose their jobs comes into force on Monday amid fears that 75,000 homes could be repossessed this year as the economic downturn bites.
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Survey reports more shoppers over weekend
Mon, 05 Jan 2009 12:03:57 +0000
LONDON (Reuters) - Shopper numbers were up 2.7 percent on Friday, Saturday and Sunday compared with the corresponding days in 2008, according to a survey on Monday.
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Brown pledges to kickstart lending
Mon, 05 Jan 2009 09:14:32 +0000
LONDON (Reuters) - Prime Minister Gordon Brown was quoted on Saturday as pledging action within weeks to kickstart bank lending but he played down the possibility of a second recapitalisation of the country's banks.
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Credit squeeze set to intensify
Fri, 02 Jan 2009 13:23:04 +0000
LONDON (Reuters) - The credit squeeze for families and businesses looks set to intensify into 2009 despite unprecedented measures to recapitalise the banking system and get lending flowing again, a survey showed on Friday.
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Nationwide says won't pass on further rate cuts
Fri, 02 Jan 2009 11:26:34 +0000
LONDON (Reuters) - Nationwide, the country's second-biggest mortgage lender, said it will not pass on any further Bank of England rate cuts to customers holding tracker loans, defying government pressure on lenders to match BoE rate reductions.
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House prices fall 16.2 percent in Dec
Fri, 02 Jan 2009 11:29:29 +0000
LONDON (Reuters) - House prices fell by a record 16.2 percent year-on-year in December, taking them to their lowest level since August 2004, data from the country's biggest mortgage lender, Halifax, showed on Friday.
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John Lewis saw surge in pre and post-Xmas spending
Fri, 02 Jan 2009 11:35:42 +0000
LONDON (Reuters) - John Lewis, the employee-owned group seen as a barometer of retail spending, said on Friday sales rose at its department stores and surged at its upmarket grocery chain in the days before and after Christmas.
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Credit conditions set to tighten further says survey
Fri, 02 Jan 2009 10:04:44 +0000
LONDON (Reuters) - The credit squeeze for households and businesses looks set to intensify in the coming months, despite unprecedented measures to recapitalise the banking system to get lending flowing again, a survey showed on Friday.
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