INTEREST RATES could soon rise further as the recovering economy and soaring oil prices push inflation higher over the next two years, according to comments from the Bank of England in this morning's Daily Telegraph .
Governor Mervyn King has given his sternest warning yet consumers should expect a sharp fall in house price inflation so the monetary policy committee may have to raise the cost of borrowing in coming months, as the Bank of England expects inflation to rise above its 2% target in two years' time.
PROFITS AT insurance group Aegon UK have increased this year, reports the Scotsman, but some of that gain is in part as a result of major internal changes.
Aegon UK – owner of Scottish Equitable – has revealed first-quarter pre-tax profits are up 10% on this time last year to £32m, however, that could have been higher if the firm had not had to set aside £5m for its cost reduction programme which has aided by 650 jobs losses.
Total new business for its life assurance operations also increased 9% or £15m to £176m.
HSBC’s FUND management arm, Insight Investment is reported to have settled a sexual discrimination case filed by the former head of fixed income - just days before a three-week employment tribunal was due to begin, continues the Telegraph.
Christine Farquar was now been paid an undisclosed “six-figure” sum according to the Telegraph, in return for her dropping of allegations of victimisation, sex discrimination and unfair dismissal.
THE OFFICE OF Fair Trading has called on the government to give consumers a longer cooling off period when they sign up for goods and services "on their doorstep" from seven to a potential 14 days.
Proposed changes are designed to target sales from double glazing firms, energy companies and stairlift providers, as around 30% of those people who bought goods on the doorstep have experienced problems, says the Guardian.IFAonline
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