Author Archive
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Bank of England warning on buy-to-let
The Bank of England has warned that buy-to-let lending could pose a risk to UK financial stability, as investors compete to buy the same pool of properties. According to the Bank, looser lending standards in the sector could contribute to general house price increases and a broader increase in household indebtedness. And in a downswing, investors selling buy-to-let properties into an illiquid market could amplify falls in house prices - this could be a particular concern ...
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Lancashire rejects shale gas exploration
Cuadrilla says it is "surprised and disappointed" at Lancashire County Council’s decision to deny planning consent for its application to explore for shale gas at Preston New Road, particularly as the decision follows a positive recommendation by the Council’s Planning Officers. The company is planning an appeal, saying that it completed the most comprehensive Environmental Impact Assessments ever carried out for operations of this kind. The application to drill, frack and test at Preston New Road was ...
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Groceries Code Adjudicator is making a difference
A YouGov survey carried out on behalf of the Groceries Code Adjudicator (GCA) shows a drop in the number of Groceries Code related issues in suppliers' dealings with the ten large retailers - down from 79% to 70% in the past year. At the same time a larger proportion of suppliers said they would consider raising issues with the GCA (up 9% to 47%) but concerns about retribution were still the dominant reason for holding back. Adjudicator, ...
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Boost to spending power confidence
The latest Lloyds Bank Spending Power Report shows that consumer confidence in the value of the pound in the pocket continues to rise. The bank's Current Situation Index reached a new all time high in May, at 213, with respondents' sentiments towards their personal finances improving by 3% since April, and their household finances increasing by 4%. At the same time, sentiment towards the country’s employment outlook improved by 8%. Lloyds points out that in April the ...
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HS2 one step closer
HS2, the high speed railway connecting London with Birmingham, Leeds and Manchester has taken another step towards construction, with Parliament announcing a debate on updated plans for building it. A motion has been laid instructing the HS2 Select Committee to consider more than 120 changes the Government wants to make to the hybrid Bill. The amendments are the direct result of discussions between HS2 Ltd and communities along the London-Birmingham route. Among the amendments to be put ...
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Mobile phone apps the number one way to bank
Banking by smartphone and tablet has become the leading way customers manage their finances, as mobile banking overtakes branches and the internet as the most popular way to bank. New research from the British Bankers' Association (BBA) suggests that customers will use mobile devices to check their current accounts 895 million times in 2015, more than the 705 million branch interactions. By 2020 they are forecasting that customers will use their mobile devices to manage their ...
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Dairy merger faces in-depth investigation
Müller’s proposed acquisition of Dairy Crest’s dairy operations will be referred for an in-depth investigation, the Competition and Markets Authority (CMA) has announced, unless acceptable undertakings are offered. Müller UK & Ireland Group LLP and Dairy Crest Group are two of the three main dairy processors in the UK. Together they process around 3.5 billion litres of milk per year and account for nearly half of the fresh milk consumed in the UK. And the ...
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Swansea Bay Tidal Lagoon gets green light
The application for the Tidal Lagoon Swansea Bay proposal has had the go ahead from the Planning Inspectorate. Once built, turbines in the proposed six-mile horseshoe shaped sea wall around Swansea Bay in Wales could generate around 500GWh per year of low carbon electricity. However, separately from the planning consent, the project is subject to Contract for Difference (CfD) negotiations to establish whether a tidal lagoon at Swansea Bay is affordable and value for money for consumers. ...
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Risks to UK growth tilted to the downside
The CBI says it expects UK economic growth to rally in the second quarter of 2015 after a "surprisingly soft" increase of 0.3% during the first three months of the year. Thereafter rates should increase by 0.6% taking the CBI's forecast for 2015 overall to 2.4% (2.7% previously). Nonetheless, the Confederation warns that risks to UK growth are tilted to the downside. A messy resolution of the Greek crisis could spark financial market and exchange rate ...
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Global demand boosts UK wool exports
Cumbrian farmers look set to benefit from a boom in British wool with the value of UK exports reaching nearly £200 million in 2014, exports to China having doubled since 2013. Last year, around 800,000kg of high quality wool was shorn from Cumbrian breeds including Texel and Swaledale and the hardy Herdwick. According to Defra, UK exports of the fabric are now being shipped to 50 countries, including China and the United Arab Emirates. Over 1,000 new ...
