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The amount of successful mortgage applications hit its highest point for 15 months last month with new landlords improving the market, showed figures from the British Banker’s Association. Mortgages approved for purchasing properties increased to 35,226 in August, up from July’s figure of 33,734 and 31,542 six months previously. It becomes the fourth month in [...]
(Read More)22nd Sep 11
British holidaymakers paying too much for exchanging money
by Natasha Redman
British travellers are spending about a billion pounds per year on exchanging money to use overseas and are losing out, warned the Consumer Focus watchdog. Consumer Focus wants the Office of Fair Trading (OFT) to look into the charges consumers are faced with for using bank cards abroad and for purchasing foreign money. Mike O’Connor, [...]
(Read More)21st Sep 11
E.ON boss backs competition inquiry following predatory pricing accusations
by Natasha Redman
E.ON’s boss has admitted that a competition inquiry could be the best action to clear up mistrust within the energy industry, following Energy Secretary Chris Huhne’s criticism of “predatory” suppliers. On Tuesday the ‘Big Six’ suppliers reacted angrily to the energy secretary’s suggestion that they are purposely attempting to prevent small suppliers joining the market. [...]
(Read More)20th Sep 11
WHO targets lifestyle diseases
by Natasha Redman
The World Health Organisation has laid out a plan to solve the problem of non-communicable diseases such as heart disease, which currently pose a greater global problem than infectious diseases. At present, lifestyle-related diseases are the world’s leading cause of death, killing 36 million people each year. A large amount of that figure comes from [...]
(Read More)19th Sep 11
Post Office to unveil mutualisation proposals
by Natasha Redman
Ministers will today unveil plans to put the Post Office under mutual ownership as part of the coalition’s major Royal Mail overhaul. The Post Office may be well on its way towards mutualisation by the time this parliament comes to an end, said ministers, prior to the launch of a meeting regarding the proposals. Subpostmasters, [...]
(Read More)16th Sep 11
EDF admits public has no trust in energy companies
by Natasha Redman
EDF, one of Britain’s six major power suppliers, has admitted that people no longer trust energy companies and said a Competition Commission inquiry could be required to clear the air. EDF’s surprise admission arrived as the French-owned firm became the latest to increase its retail prices in the UK – raising gas and electricity bills [...]
(Read More)14th Sep 11
Boden posts record profits
by Natasha Redman
Catalogue retailer Boden announced a jump in profits, with customers around the globe buying into the UK retailer’s distinctive brand of casual clothing for the middle classes. Boden said its accounts, due to filed later this week at Companies House, would reveal turnover is up by 15 per cent to £232m, while pre-tax profits are [...]
(Read More)13th Sep 11
Insurance firms face car insurance probe
by Natasha Redman
Insurance companies look set to be investigated by the Office of Fair Trading following a year in which motorists have seen a rise of 40 per cent in their premiums. The OFT has issued a “call for evidence”, which is a preliminary step that could result in a full scale investigation. It is believed that [...]
(Read More)12th Sep 11
Manufacturers see drop in input prices
by Natasha Redman
The prices paid by British manufacturers posted the largest drop in over two years last month, revealed official figures, as the sector’s period of high inflation appeared to surpass its peak. There was a fall of 1.9 per cent in producer input prices in August, compared to an increase of 0.5 per cent in July, [...]
(Read More)9th Sep 11
1,000 inmates escape Congo prison
by Natasha Redman
Almost 1,000 inmates escaped from a prison in Congo on Wednesday after an incredible raid by masked gunmen was carried out to save a militia leader from death row, just weeks before presidential polls are due to take place. Officials in the eastern province of Katanga said that the eight masked gunmen took advantage of [...]
(Read More)