June 2011 Archive

The tax benefits of marriage

If you are married there are reliefs and tax strategies available for inheritance tax, income tax and capital gains tax and some are available for co-habiting couples too.

2011 1st QTR UK GDP growth confirmed by ONS at 0.5 per cent

The Office for National Statistics (ONS) has confirmed that the UK economy grew at 0.5 per cent in the first three months of 2011.

BIS: Global central banks need to raise interest rates

The Bank for International Settlements (BIS) an independent organisation of international central banks has called on global economies to increase the cost of borrowing to help protect emerging economies.

King warns euro debt crisis is 'most serious and immediate' threat to UK

The Governor of the Bank of England, Sir Mervyn King, presenting the inaugural statement from the Financial Policy Committee (FPC), has urged UK banks to come clean on their exposure to the euro debt crisis.

Aviva sells RAC for £1bn windfall

The Carlyle Group is to buy the RAC brand from Aviva, which remains as the insurance underwriter for its motor and breakdown cover.

Cameron successfully negotiates UK out of further Greek bailout funds

David Cameron has been successful in ensuring that the UK does not have to contribute to further bailout funds which will be advanced to Greece if they pass austerity laws next week.

Clegg supports giving taxpayers shares in RBS and Lloyds

Deputy Prime Minister, Nick Clegg has put his support behind the idea that taxpayers are given shares in Lloyds and RBS in return for helping to bail out the two banks in 2008.

Public sector borrowing falls in May

The latest report from the Office for National Statistics (ONS) on public finances reveals that there was a fall in May of £1.1 billion year-on-year.

Greek bail-out loan could be delayed

A further €12 billion bail-out loan to Greece could be delayed as eurozone finance minsters insist that the Greek parliament pass economic reforms first.

Tesco sales flat in UK, growing worldwide

Tesco has released its first set of quarterly financial results since Philip Clarke replaced Sir Terry Leahy as chief executive and they show a very small fall in UK sales but growth worldwide.

No change in headline inflation rate for May

The latest consumer prices index (CPI) measure of inflation shows no change from April with inflation remaining at 4.5 per cent, according to the Office for National Statistics (ONS).

Project Merlin "capacity" targets likely to be met by UK banks

The big British banks are on course to meet agreed "capacity" targets set out in the Project Merlin agreement on overall corporate lending and lending to small and medium-sized businesses (SME's).

UK trade deficit narrows in April

The Office for National Statistics (ONS) has released the UK trade figures for Apriland they reveal that the seasonally adjusted deficit on trade in goods and services was £2.8 billion in April.

UK trade deficit preview: Small increase expected for April

The Office for National Statistics (ONS) will release details of the UK's trade deficit for April tomorrow (June 9th) and it is expected to show a small increase from the monthly deficit of £3 billion for March.

Moody's could reconsider UK credit rating if growth slips

The pound slipped against the dollar and euro following reports that ratings agency Moody's could lower the UK's triple-A credit rating if it thinks the government's economic policies are failing.

Live webcast: Investing in Asia

Join experts Jason Pidcock from Newton Asset Management and Sheridan Admans from 1pm on Wednesday 8th June for a live webcast on investing in Asia. Submit your questions in advance.

CBI gives government credit for business tax reforms

The coalition's action on the deficit and efforts to reform business tax have earned praise from the CBI.

IMF says UK economic recovery plan does not need to change

In its annual report on the UK economy the International Monetary Fund (IMF) says that the coalition government does not need to change its economic policies.

The UK falls down the world's competitiveness league tables

A new report from the Centre for Policy Studies reveals that the UK has fallen sharply down the league tables of three separate measures looking at economic competitiveness.

Labour unveils plans for city bonus tax to aid youth unemployment

The shadow chancellor, Ed Balls, has called for an amendment to the government's finance bill to include a £2 billion tax on city bonuses to be re-invested in tackling youth unemployment and building new homes.

PMI surveys show that UK GDP may not rise above 0.3%

Research company Markit has released a report that analyses the latest PMI index surveys in the manufacturing, construction and services sectors and points to weak GDP growth but reduced inflation.

MPs question accounting methods of RBS

Two MPs have written to the Royal Bank of Scotland (RBS) questioning the use of IFRS accounting rules.

ASOS and B&Q report rising sales

Increased sales at ASOS and B&Q show bright spots in the UK economy and for investors in the two companies.

British Gas turns to imports as Morecambe profitability hits zero

Crippling taxes have left Centrica reassessing profitability in South Morecambe as the government has imposed an 81 per cent total rate on output.

UK manufacturing growth falls to lowest level for 20 months

The latest Markit/CIPS manufacturing index shows a sharp fall due to weak consumer demand and a fall in export sales, fueling fears that the UK economy is stagnating.

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