Reuters: Personal Finance News

Insolvencies jump to record high

Fri, 06 Nov 2009 11:52:48 GMT

LONDON (Reuters) - A record number of people in England and Wales succumbed to bad debts in the third quarter of this year but the pace at which companies went bust slowed, official figures showed on Friday.

UBS fined 8 million pounds for unauthorised trades

Thu, 05 Nov 2009 14:34:39 GMT

LONDON (Reuters) - The Financial Services Authority dealt a fresh blow to UBS's credibility, fining the Swiss bank 8.0 million pounds for unauthorised trades by London-based employees.

Bank to pump 25 billion pounds more into economy

Thu, 05 Nov 2009 12:35:31 GMT

LONDON (Reuters) - The Bank of England expanded its quantitative easing programme by 25 billion pounds to 200 billion pounds on Thursday, continuing its unprecedented scheme to revive Britain's recession-hit economy.

M&S sees no repeat of blanket pre-Xmas promotions

Wed, 04 Nov 2009 13:13:41 GMT

LONDON (Reuters) - Marks & Spencer does not expect a repeat of the "blanket type" promotional activity that dominated trading in the run up to last Christmas, its chairman said on Wednesday.

Housebuilder updates fuel growing confidence

Wed, 04 Nov 2009 11:34:12 GMT

LONDON (Reuters) - The price of a new home has started to climb, according to housebuilders Redrow and Taylor Wimpey who also reported stabilising sales, bolstering the sector and signs of growing consumer confidence.

Consumer morale regains April 2008 level

Wed, 04 Nov 2009 07:43:27 GMT

LONDON (Reuters) - Consumer morale has hit its highest levels in the last two months since April 2008, a survey showed on Wednesday.

House prices up 1.2 percent in October

Tue, 03 Nov 2009 14:02:34 GMT

LONDON (Reuters) - House prices rose 1.2 percent in October, leaving the annual decline at its smallest in 1-1/2 years as a lack of supply and higher demand buoyed prices, mortgage lender Halifax said on Tuesday.

Banks get 31 billion pounds more aid

Tue, 03 Nov 2009 12:42:04 GMT

LONDON (Reuters) - Royal Bank of Scotland and Lloyds Banking Group are to get another 31 billion pounds from the government and have agreed to sell hundreds of branches and key businesses to appease EU competition concerns over state aid.

Private banks eye gains from IFAs' reform woes

Mon, 02 Nov 2009 13:58:09 GMT

LONDON (Reuters) - Private banks are preparing for a surge in assets sparked by proposed new regulations which they expect will punish the country's independent financial adviser industry.

RBS faces forced sales as bank shake-up looms

Mon, 02 Nov 2009 13:54:59 GMT

LONDON (Reuters) - Royal Bank of Scotland Group said it will be forced to sell more assets than it had expected as another radical shake-up looms for banks.

Consumers plan to spend less on Christmas

Mon, 02 Nov 2009 07:24:49 GMT

LONDON (Reuters) - Consumers are planning to spend less on gifts this Christmas than last year as they worry about rising unemployment and taxes, putting into question signs of a recovery in consumer spending, a survey showed on Monday.

House prices down 4.2 percent year-on-year

Mon, 02 Nov 2009 07:22:04 GMT

LONDON (Reuters) - House prices fell at their slowest annual rate since June 2008 in October, dropping 4.2 percent, due to an ongoing lack of housing for sale after the credit crunch, property data company Hometrack said on Monday.

FSA imposes biggest mortgage-related fine

Fri, 30 Oct 2009 09:24:10 GMT

LONDON (Reuters) - The Financial Services Authority slapped Britain's biggest mortgage-related fine on home loans provider GMAC-RFC for overcharging and dealing unfairly with customers in arrears.

Consumer confidence highest since January 2008

Fri, 30 Oct 2009 07:24:58 GMT

LONDON (Reuters) - Consumer confidence rose in October to its highest level since January 2008, after improvements in households' financial situation and view of the past 12 months, a monthly survey by GfK NOP showed on Friday.

House prices show first annual rise in 19 months

Fri, 30 Oct 2009 07:19:29 GMT

LONDON (Reuters) - House prices rose for a sixth month running in October to register their first annual gain since early 2008, the Nationwide Building Society said on Friday.

Mortgage approvals surge

Thu, 29 Oct 2009 10:19:40 GMT

LONDON (Reuters) - Mortgage approvals for house purchases rose faster than expected in September to their highest in 18 months, but consumers continued to cut back on unsecured borrowing for a third consecutive month.

Pay growth up for first time since November

Thu, 29 Oct 2009 07:25:10 GMT

LONDON (Reuters) - The rate of pay growth rose for the first in almost a year in the three months to September, a study of pay deals by Incomes Data Services showed on Thursday.

Retail sales rebound

Wed, 28 Oct 2009 20:29:32 GMT

LONDON (Reuters) - Retail sales volumes grew at their fastest pace in almost two years in October, a survey indicated on Tuesday, with retailers more upbeat about future prospects than at any time since July 2007.

FSA tells banks to be fair as EU rules bite

Wed, 28 Oct 2009 14:42:54 GMT

LONDON (Reuters) - The financial watchdog will start regulating lenders' day-to-day contact with their customers to ensure services such as direct debits, payments, interest change notifications and savings accounts are fair.

Rise in house prices accelerates in September

Wed, 28 Oct 2009 12:20:00 GMT

LONDON (Reuters) - The rise in house prices in England and Wales accelerated in September, with the cost of an average home increasing by 0.9 percent after a 0.5 percent rise in August, the Land Registry said on Wednesday.

Tesco Bank to create 1,000 jobs in Newcastle

Wed, 28 Oct 2009 12:10:16 GMT

LONDON (Reuters) - Tesco , Britain's biggest retailer, said on Wednesday its Tesco Bank business will open a customer service centre in Newcastle, creating 1,000 new jobs.

EU clears Northern Rock's break-up plan

Wed, 28 Oct 2009 12:08:30 GMT

BRUSSELS (Reuters) - European Union antitrust regulators approved on Wednesday a British plan to break up state-owned mortgage bank Northern Rock, allowing the UK government eventually to sell parts of the lender.

Pensions funds recouping some of 2008 losses

Mon, 26 Oct 2009 13:18:47 GMT

PARIS (Reuters) - Pension funds tracked by the OECD recovered $1.5 trillion (918 billion pounds) in the first half of 2009 of the $5.4 trillion they lost in market value last year, the Organisation for Economic Co-operation and Development said on Monday.

UK still in recession after shock GDP contraction

Fri, 23 Oct 2009 09:10:36 GMT

LONDON (Reuters) - The economy contracted unexpectedly in the third quarter of this year, squashing hopes of an end to the downturn and instead making the current recession the longest on record, official data showed on Friday.

Motor premiums post biggest rise in 15 years

Thu, 22 Oct 2009 12:46:15 GMT

LONDON (Reuters) - The cost of insuring a car rose at its fastest pace in 15 years during the third quarter, fuelled by rising personal injury claims and fraud, according to a survey from the AA.