October 30, 2008

• MPC Calls For Rate Cuts

  David Blancheflower, member of the Monetary Policy Committee, is calling for significant and quick interest rate cuts.
  Speaking at the University of Kent Blanchflower warns that a lack of decisive action on interest rates will mean the impending recession will be even more prolonged.
  He says: “My view remains that interest rates do need to come [...]

October 28, 2008

• Petrol prices ‘could fall below 90p’

  [caption id="attachment_27" align="alignleft" width="100" caption="The price of petrol could be on it's way down again"][/caption]
  Petrol prices have fallen to less than a pound a litre for the first time in nearly a year, and could fall to below 90 pence within weeks, experts believe.
  Petrol prices have fallen to less than £1 a litre for [...]

October 17, 2008

• Cheaper Mobile Phones Hit Phone Firms Profits

  Mobile phone maker Sony Ericsson has seen pre-tax profits fall, blaming demand for cheaper phones and fluctuation in currency rates.
  It made a profit of 12 million euros (£9.3m; $16.2m) in the three months to 30 September. If restructuring costs are included, it made a 23m euro loss.
  Consumers were scaling back when buying new [...]

October 16, 2008

• Cameron proposes 1p cut for firms

  Conservative leader David Cameron is calling for a 1p cut in national insurance to help small businesses during the economic downturn.
  He said the reduction should last six months for companies which employ four staff or fewer.
  Mr Cameron told the BBC many small businesses would “be going to the wall unless they get help”.
  Meanwhile, [...]

October 2, 2008

• Northern Rock ‘Withdraws Savings Accounts’ Due To Excessive Demand

  A few months ago, people were queing for hours to withdraw their savings from the Northern Rock. In one of the strangest turnarounds ever, people are now queuing to put their money in the bank.
  The nationalised bank is facing rising numbers of savings account applicants - due to the public uncertainty over banks’ financial stability, [...]

September 9, 2008

• FSTE Drops After Mortgage Bail Out

  Early losses on Wall Street brought an end to the relief rally seen on the London market after yesterday’s US Government mortgage bail out.
  London’s leading share index had been enjoying a second day of gains as trading returned to normal following the London Stock Exchange’s seven-hour shutdown on Monday, and as lower oil prices provided [...]