Category: Uncategorized

SMEs hit by impact of long Covid

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Research from Unum UK show that more than one in three UK SMEs suffered a critical impact on finances and business success due to the effects of long Covid. The survey of 1,055 SMEs found that 45% reported at least one staff member had been diagnosed with Covid-19, while...

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Eurozone inflation at highest rate since 2008

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The annual inflation rate in the European countries that use the euro hit its highest level since 2008 in September, with EU statistics agency Eurostat revealing that inflation came in at 3.4% last month, up from 3% in August. The inflation level was driven up by a 17.4% increase...

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Equity release interest rates rise

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The average equity release interest rate has risen to 4.26%, climbing from 3.95% over the last six months. This comes with lenders offering more deals with flexible features that come at a higher cost to borrowers. Analysis shows that product numbers increased by 49% from 448 to 668 in...

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Job security fears for 24% of UK workforce

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A new survey of over 900 UK full-time workers by NerdWallet has revealed their job security concerns and future career prospects. Some 24% of employees are concerned about their job security as the furlough scheme tapers, rising to 33% among those aged 18-34. NerdWallet’s survey found that 18% of respondents...

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Lenders to relax rules on income

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Workers who get bonuses or overtime income may find it easier to get a mortgage as more lenders relax their rules and cut rates. Halifax has increased the amount that workers who receive perks on top of their base pay can borrow. The bonus, commission and overtime income it uses in...

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Economic growth stalls in July

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Data from the Office for National Statistics (ONS) shows that the UK economy grew by just 0.1% in July. While this marks the sixth consecutive month of growth, the increase is far lower than the 1% growth recorded in the previous month and means the economy remains 2.1% below...

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Banks exposed as mortgage competition hots up

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Britain’s banks could be hit by mortgage rates moving even lower as fierce competition in the sector continues, Morgan Stanley analysts have suggested. Alvaro Serrano, an analyst at the Wall Street bank, said: “excess liquidity and low rates have reduced funding cost differentials, leading to more widespread competition.” This...

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New tax is a drag on jobs and growth

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Suren Thiru, head of economics at the British Chambers of Commerce, said the new 1.25% national insurance contribution introduced by Boris Johnson would be a “drag anchor on jobs growth at an absolutely crucial time”. “Firms have been hammered by 18 months of Covid-related restrictions and have built up...

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Bank holiday sees consumer activity surge

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Barclaycard data suggests that the August bank holiday was the busiest for consumer activity since Christmas 2019, with transactions 14.4% up on the same long weekend in 2020 and 9.4% higher than in 2019. The analysis shows Saturday and Sunday saw more transactions than on any day since Christmas...

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