Hello there! I appreciate you taking the time to join me. The housing market has seen some significant changes lately. In fact, recent data from lender Nationwide reveals that house prices have dropped to their lowest level since 2009. Specifically, property values have contracted by 5.3% in the year leading up to August, following a …
Greetings to all readers! UBS has achieved a magnificent feat by generating the largest quarterly profit ever recorded by a bank. This remarkable accomplishment follows its merger with Credit Suisse, amounting to a whopping $3 billion. In the span of three months, UBS proudly announced a profit of $29 billion for the period between April …
Thank you for joining me. Motorists should anticipate another year of increasing insurance premiums as the industry grapples with growing expenses. EY predicts a 16% rise in prices this year and an 11% increase next year. In 2023, insurers are projected to spend £108.50 for every £100 collected in premiums. 5 things to kickstart your …
Thank you for joining me. Members of the union at Network Rail have been denied bonuses due to their eight-month-long strike. This decision affects approximately 20,000 employees and has been described as “disgraceful” by RMT secretary Mick Lynch. 5 things to kickstart your day 1) Michael Gove criticized for favoring London-centric building policies | The …
A bearish forecast has been given, contradicting previous predictions by Citi and Goldman who admitted their mistake in betting against the pound. The bearish outlook suggests that households will begin to feel the impact of higher mortgage rates, as fixed-term mortgages expire. This has already led to a stumble in the housing market. Nomura analysts …
Greetings, and thank you for joining me. In recent news, energy regulator Ofgem has made the decision to reduce the energy price cap. As a result, households can expect an average annual bill reduction of £151. The energy price cap sets a limit on the amount that energy suppliers can charge per unit of gas …
Thank you for joining me. Harbour Energy, the largest oil producer in the North Sea, experienced a significant shift in financials with an $8 million loss after tax, compared to a $984 million profit in the first half of last year. The company attributes these losses to the windfall taxes imposed by the Government and …
Investors are shedding stocks in China’s top-performing companies as concerns about the country’s economy continue to grow. In the past twelve days alone, overseas funds have withdrawn a total of £7.3 billion from the Chinese market, marking the longest period of continuous withdrawals since Bloomberg began tracking this data in 2016. Here are five things …
Public Sector Borrowing and Stock Market Updates Public sector borrowing for the period of April to July has surpassed expectations set by the Office for Budget Responsibility (OBR). This positive outcome raises hopes that Chancellor Jeremy Hunt will have the means to implement tax cuts. The Office for National Statistics reports that the budget deficit …
In an unexpected move, Chinese banks have chosen to maintain the key interest rate that guides mortgages, causing confusion about the country’s strategy for addressing the property market downturn. The People’s Bank of China has kept the five-year loan prime rate (LPR) at 4.2%, contrary to predictions of a 15 basis points cut. Last week, …