Economy

 

Peer-to-peer lending heads for mainstream after bumper 2014

LONDON - Britain's peer-to-peer lenders provided 1.24 billion pounds of credit during 2014, taking total lending by the industry beyond 2.1 billion pounds, more than double the figure at the end of 2013.

UK mortgage approvals pick up in December, consumer credit slows 30 Jan 2015

LONDON - British mortgage approvals rose in December for the first time since June, the Bank of England said on Friday, suggesting that a steady slowdown in the number of loans for home purchases could be bottoming out.

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UK house price growth slows again in January 29 Jan 2015

LONDON - British house price growth slowed on an annual basis for a fifth month in a row in January, further reducing the risk of a bubble in the housing market, figures from mortgage lender Nationwide showed on Thursday.

UK inflation expectations hit 6-year low in January 29 Jan 2015

LONDON - The British public's expectations for inflation in the next 12 months fell to their lowest level in six years in January, while longer-term inflation expectations hit a record low, according to a survey on Tuesday.

UK retail sales growth slows less than expected in January - CBI 29 Jan 2015

LONDON - British retail sales growth slowed by less than expected in January, helped by the biggest rise in clothing sales in almost two years, an industry survey showed on Thursday.

Bank of England's Haldane says no rush to raise rates 28 Jan 2015

LONDON - The Bank of England is in no rush to hike interest rates and when it does, the increase could be as slow as half a percentage point a year, the central bank's chief economist Andy Haldane said in an interview published on Wednesday.

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British growth slows, but 2014 still fastest in seven years 27 Jan 2015

LONDON - Britain's economic growth slowed more than expected in the final three months of last year, but with annual growth still at its fastest since 2007 the data gave ammunition to both sides of the political divide heading into May's election.

Britain's Black Friday genie now out of the bottle 27 Jan 2015

LONDON - Britons literally fell over themselves for "Black Friday" bargains in November, so retailers need to make the discount day imported from across the Atlantic work for the industry.

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UK banks approve fewest mortgages since April 2013 27 Jan 2015

LONDON - British banks approved 35,667 mortgages for house purchase in December, the lowest number since April 2013, as the housing market continued to slow, the British Bankers' Association said on Tuesday.

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Eyeing May re-election, Cameron says voters "deserve" tax cuts 26 Jan 2015

LONDON - Prime Minister David Cameron said on Monday voters deserved to be rewarded with tax cuts "after years of sacrifice," pledging to reduce taxes if he won a general election in May.

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