News

House prices rose by an average 2.6% in the first six months of the year but are still almost 11% down on a year ago, latest figures from the Department of Communities and Local Government (DCLG) suggest.

Lending on shared ownership properties accounted for 33% of business at Cheshire Mortgage Corporation (CMC) in Q2 2009, up by 16% on the same period for 2008.

LV= has become the latest firm to join the decumulation action group headed by Tom McPhail.

The difference between the Liechtenstein amnesty and New Disclosure Opportunity (NDO) for offshore savers is "unfair", according to PKF Accountants.

The UK faces a slow recovery from recession as the financial crisis continues to impact on public and private spending, according to the Bank of England.

The FSA said today it would take enforcement action against large banks, building societies and broker dealers who failed to adhere to its new remuneration code, to take effect from January 2010.

The number of unemployed people increased by 220,000 over Q2 to reach 2.43 million, its highest level since 1995, according to the Office for National Statistics.

Investors are braced for their dividend income to fall by 13% this year as Britain's quoted companies horde cash to ride out the recession, reports the Guardian.

Lloyds' decision to sell Insight Investment to the Bank of New York Mellon for £235m and bring the rest of its asset management business under Swip saw its share price fall 0.3% to 90.72p in early trading today.

Lloyds Banking Group has announced plans to focus and build on its Scottish Widows Investment Partnership (Swip) brand after offloading Insight.