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New British banks seeing better returns and lending more


LONDON - Britain's new banks are achieving superior returns than larger rivals, picking up customers shunned by bigger lenders since the 2007-9 financial crisis, consultancy KPMG said on Friday.

Nationwide predicts higher house prices as profits rise 22 May 2015

LONDON - Nationwide's Chief Executive Graham Beale said he expected Britain's housing market to be stronger this year after the UK's second-biggest provider of home loans reported a 32 percent rise in full-year profit.


Majority of UK purchases made without cash in 2014 21 May 2015

LONDON - The majority of financial transactions in Britain were made without cash in 2014, the first time cash has been less widely used than alternatives, the Payments Council said on Thursday.


UK pay awards stuck at 2 percent, no pick-up seen this year 21 May 2015

LONDON - British companies are keeping a lid on pay deals despite the recovery in the country's economy, and are likely to remain cautious throughout 2015, according to a survey published on Thursday.


Zoopla says Conservative win to boost property market 20 May 2015

LONDON - An election victory for the Conservatives earlier this month should help the housing market to grow, property website Zoopla said on Wednesday, announcing a rise in profits.


Bank of England rate-setters vote 9-0 to keep rates on hold, echo recent views 20 May 2015

LONDON - The views of Bank of England policymakers appeared little changed in May when they voted unanimously to keep interest rates on hold.

UK households feel less financial pinch 20 May 2015

LONDON - British households were the most upbeat about their finances in over six years in May, but have turned pessimistic about the outlook for the coming 12 months, a monthly survey showed on Wednesday.


First Bank of England rate hike still seen Q1 2016 - Reuters poll 20 May 2015

LONDON - The Bank of England will begin tightening policy early next year according to economists in a Reuters poll who are still largely clinging on to expectations for a first quarter hike from record low interest rates.


UK inflation negative for first time since 1960; BoE says temporary 20 May 2015

LONDON - Britain's annual rate of consumer price inflation fell below zero for the first time in more than half a century, official figures showed on Tuesday, though Bank of England Governor Mark Carney said the dip was likely to be brief.


Lender Wonga offers three-day grace period in bid to repair image 19 May 2015

LONDON - Britain's biggest payday lender Wonga will hand customers struggling to pay back debt a three-day grace period before applying default charges, as part of efforts to rebuild its battered image.


Election nerves pushed down asking prices for English homes

LONDON - The price of homes for sale in England and Wales fell in the run-up to the May 7 election and are likely to start picking up again now that the political uncertainty has lifted, property website Rightmove said on Monday.

National Grid UK Pension Scheme to outsource fund management

LONDON - Trustees of the 17 billion pound ($26.4 billion) National Grid UK Pension Scheme said on Tuesday they would outsource the management of the scheme's assets through a sale of its Aerion Fund Management arm.

Complaints over mis-sold insurance by UK banks decline

LONDON - Complaints to Britain's financial ombudsman about the mis-selling of loan insurance nearly halved in the past year, suggesting a scandal that has cost banks over 26 billion pounds ($41 billion) may be coming to an end.

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