Tesco delays current account launch to 2013

admin — Mon, 06 Feb 2012 16:19:19 +0000

LONDON - Tesco, the world's third-biggest retailer, said its Tesco Bank business in the UK has delayed the launch of its current account service until next year, dealing a blow to government attempts to reduce the dominance of Britain's big five banks.

Investors worry where to put cash as banks wobble

admin — Mon, 06 Feb 2012 16:18:51 +0000

Investors worry where to put cash as banks wobble

LONDON - Investors are holding more cash than at any time since the Lehman Brothers collapse to protect themselves against volatile financial markets, presenting them with a dilemma - where to hold that money when banks are looking shaky.

Irish consumer sentiment rebounds as euro fears ease

admin — Sun, 05 Feb 2012 00:36:49 +0000

Irish consumer sentiment rebounds as euro fears ease

DUBLIN - Irish consumer sentiment rebounded sharply in January from its largest fall in a decade as New Year's sales buoyed consumers who appeared less worried about the euro zone crisis, a survey showed on Tuesday.

Record drop in consumer credit

admin — Sun, 05 Feb 2012 00:35:56 +0000

Record drop in consumer credit

LONDON - Credit card and other unsecured lending to British consumers posted its sharpest drop in nearly two decades in December, supporting expectations that the Bank of England will soon inject more cash into the economy to prevent a deep recession.

Nervy UK fund managers start cautious return to stocks

admin — Fri, 03 Feb 2012 08:49:51 +0000

Nervy UK fund managers start cautious return to stocks

LONDON - British fund managers began to return to stocks in January, cutting cash, despite worries about the damage Europe's still-unresolved debt crisis might yet inflict on markets, according to a Reuters poll.

Energy firms’ accounting practices cleared

admin — Fri, 03 Feb 2012 08:48:45 +0000

Energy firms’ accounting practices cleared

LONDON - A forensic review of UK energy company accounting practices has found no evidence of financial irregularities aimed at justifying steep rises in retail gas and electricity bills last year, regulator Ofgem, which commissioned the study, said.

UK consumers pay billions in fund dealing costs

admin — Wed, 01 Feb 2012 17:14:33 +0000

UK consumers pay billions in fund dealing costs

LONDON - The funds industry is imposing 18.5 billion pounds of hidden costs on investors every year through dealing charges that are obscured by cryptic fee structures and "convoluted language", new research on financial consumers has found.

House prices fall unexpectedly

admin — Wed, 01 Feb 2012 17:13:33 +0000

House prices fall unexpectedly

LONDON - House prices unexpectedly fell for the second month in a row in January, due to the prospect of greater unemployment and buyers' problems finding large enough mortgage deposits, data from lender Nationwide showed on Wednesday.

FSA fines RBS insurance units for files breach

admin — Tue, 31 Jan 2012 01:24:03 +0000

FSA fines RBS insurance units for files breach

LONDON - The Financial Services Authority has fined Royal Bank of Scotland's Direct Line and Churchill insurance subsidiaries 2.17 million pounds for altering files it had asked to inspect.

UK dividends hit record high in 2011

admin — Tue, 31 Jan 2012 01:22:57 +0000

UK dividends hit record high in 2011

LONDON - British companies handed out record dividends in 2011 and will pay 11 percent more this year, with mobile phone group Vodafone expected to deliver the most generous payout.