House sales at highest level for six years


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House sales at highest level for six years

House sales at highest level for six years
The number of homes sold this year is set to top 1 million for the first time since the financial crisis, but figures reveal that while government schemes to help those with small deposits onto the housing ladder are spurring building, provision of affordable homes has been plummeting.
The Guardian, p. 44

Co-op demands Paul Flowers repays £31,000
The Co-op yesterday asked disgraced former director Reverend Paul Flowers to repay the £31,000 he received from the group in the second half of 2013.
City AM London, p. 3
Also appeared in : The Daily Telegraph Business, p.1, The Guardian, p.10

Co-op under scrutiny
Last night the Co-operative Bank is preparing for multiple probes as regulators attempt to get to the bottom of the failures that conspired to unhinge the mutual.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

Co-op Bank faces nervous wait on fundraising vote
The success or failure of the Co-operative’s plan to plug a £1. 5 billion black hole may not be decided until the Prudential Regulatory Authority’s deadline for the capital raising.
The Times, p. 56

Union anger as Barclays shuts PPI claims office
Union officials at Unite said Barclays staff felt “angry and betrayed” by the bank’s decision to close an office in Glasgow that handled compensation claims for missold payment protection insurance.
The Guardian, p. 45
Also appeared in : The Times, p.58

UBS does a deal with European antitrust probe over Libor case
UBS has done a deal with European Union antitrust authorities to spare the Swiss bank from fines for the manipulation of benchmark interest rates, according to the Wall Street Journal. The bank will cooperate with investigators and turn over information on other banks as part of the arrangement. With Barclays having already reached a deal with European antitrust authorities, both banks will evade reprimands when the probe into the interest-rate manipulation scandal is completed.
City AM London, p. 3
Also appeared in : The Times, p.58, The Times, p.58

BANK of England chief economist Spencer Dale said last night that interest rates will remain low for a “sustained period”. “We had a very deep recession, we have a number of years to go,” Dale told the BBC, adding that the recovery would take a “number of years”. On the possibility of a housing bubble, Dale downplayed the likelihood, saying the UK is “not there now”.
City AM London, p. 6

Credit Suisse to wall off Swiss banking business
Credit Suisse said Thursday that it planned to separate its consumer and private banking business in its home market from its riskier investment banking and trading operations in Britain and in the United States.
International New York Times, p. 17

The above articles appeared on 22/11/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.