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FCA plans 2018 deadline for loan insurance claims

LONDON Britain's financial watchdog published plans on Thursday to set a deadline for claims against banks for the mis-selling of loan insurance, which has become the costliest scandal for the country's banking industry.


Osborne's U-turn on tax credits unlikely to hurt UK welfare push 7:51am GMT

LONDON Chancellor George Osborne's U-turn decision not to cut state support for low-income workers will provide short-term relief for many households across Britain, but is unlikely to dent his broader attempt to rein in welfare spending.

Factbox: Key announcements in budget update from Osborne 7:40am GMT

LONDON Chancellor George Osborne delivered a half-yearly budget update on Wednesday, slightly raising his budget surplus target for the end of the decade while scrapping a controversial plan to make big savings in one part of the welfare budget.


Osborne uses tax forecast to soften spending cuts 25 Nov 2015

LONDON Chancellor George Osborne took advantage of stronger forecasts for tax revenues to drop an unpopular plan to scrap some benefits for low-earners and ease other deep cuts, but he stuck to a target for budget surplus in 2020. | Video

Government to raise property tax on buy-to-let and second homes 25 Nov 2015

LONDON Britain will raise the level of a property tax for those who buy a house in order to rent it and on second homes, Chancellor George Osborne said on Wednesday, as part of plans to cut government spending and raise revenues.


BoE to hike rates in Q2 2016, but dependent on December Fed move - Reuters poll 25 Nov 2015

LONDON The Bank of England will hike interest rates in the second quarter of next year but the timing may rest on whether the U.S. Federal Reserve tightens policy in the world's largest economy next month, a Reuters poll found.

UK banks step up pace of mortgage approvals 25 Nov 2015

LONDON British banks approved more mortgages in October than a month before, taking the annual growth rate to the highest since April 2014, while personal lending expanded by the largest amount since March.

Bank of England's Broadbent struck by lack of UK credit growth 25 Nov 2015

LONDON Britain's economy is not going through a credit boom and the fall in manufacturing employment in the country is a result of global trends, Bank of England Deputy Governor Ben Broadbent was quoted as saying in a newspaper interview published on Tuesday.

Bank of England's Carney says rate hike timing is still a question 24 Nov 2015

LONDON Bank of England Governor Mark Carney said he did not know when British interest rates should start to rise, once again sounding vaguer than before about when the BoE might begin easing the economy off record-low borrowing costs.

Risk of market jolt on Brexit could complicate BoE decision 24 Nov 2015

LONDON UK markets have not even begun to discount the chance that Britain could vote to leave the European Union next year, raising the risk of a blowup closer to the vote and complicating the timing of any Bank of England interest rate rise, top investors say.

UK housebuilders trim gains on stamp duty plan

LONDON UK housebuilders surrendered part of their hefty gains in afternoon trade on Wednesday after Chancellor George Osborne announced plans to raise property tax for those who buy a house in order to rent it and on second homes.


FCA reviews value for money in asset management

LONDON Britain's markets watchdog is to review the country's 6.6 trillion pound asset management sector, saying that more transparency may not be enough to guarantee investors value for money.

Under a quarter of UK households see rate hike in next six months

LONDON Less than a quarter of British households expect the Bank of England to raise interest rates in the next six months, after the central bank offered no hint in its latest economic outlook that it was gearing up for an imminent rate hike.

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