House prices jumped by 1.3% in August according to a report by Nationwide, which is the largest monthly increase in over two and a half years. It is said that the large rise in house prices is being delivered mainly by manipulating the statistics. The seasonal fluctuations are helping to contribute to the more realistic…

The financial pressure easing on millions of British households from falling inflation could be short lived as warnings emerged that fuel prices could head for £1.50 per litre combined with poor harvests affecting food costs. The price of crude oil has been forced up in price due to rising tensions in the Middle East along…

The Bank of England has predicted that the UK economy will experience no growth whatsoever in 2012, as the nation’s bank revised its growth forecast again. Last year the Bank of England predicted that UK output would increase by 2% in 2012, which it lowered again to an estimate of 0.8% in May. Growth forecasts…

The Bank of England is going to print another £50billion in yet another round of quantitative easing as part of another effort to try and drag the UK out of its second recession. The Bank of England’s monetary policy committee has decided to add more money to the £325billion that it has already created in…

Sir Mervyn King, Governor of the Bank of England has told MPs that he could not rule out further cuts to the UK’s base rate of interest, while outlining possible plans to force British banks to resume lending. During an address to the Treasury Select Committee, Sir Mervyn spoke of the possibility of cutting the…

The supermarket chain Tesco has announced it will pay to exit its Japanese business interests. The move has come as the chain is suffering from falling sales in the UK. Tesco is reportedly disappointed that they have been forced to pay a rival company to take the business off of their hands. It will sell…

Clinton Cards who are the largest British chain of greetings card stores has gone into administration today. The company has been forced into administration by its largest supplier putting 8,000 jobs at risk. American Greeting had bought Clinton Cards debts from its bank. Zolfo Cooper, restructuring specialists have been appointed as administrators to Clinton Cards… (0 comment)

Almost 70 businesses are collapsing every day due to the lack of availability of loans according to researchers, which is the largest number for 2 years. During March 2012, 2,112 businesses became insolvent which is an average of 68 per day. This is the largest number of business closures since March 2010 and is largely… (0 comment)

The UK national minimum wage will rise by eleven pence to £6.19. The wage rise won’t help people much though as it’s lower than the rise in the cost of living. The 1.8% rise in minimum income falls short of the 3.6% average rise in the cost of living according to the Consumer Price Index.… (0 comment)

Banks in the UK are adding to the financial burden of households by having record level high interest rates on borrowing. The banks are charging record amounts of interest on credit cards, overdrafts and mortgages even though the Bank of England’s 0.5% base rate of interest is at an all time low. The Bank of… (0 comment)