Author Archives: Tammy Josselyn

Construction Growth Slowing Overall but Commercial Construction Sector is Experiencing Increase

The new "Cheesegrater" skyscraper is getting attention once again as are other commercial properties which is evidence that commercial construction is increasing.

The new “Cheesegrater” skyscraper is getting attention once again as are other commercial properties which is evidence that commercial construction is increasing.

It appears that UK construction growth is slowing. This is unfortunate as the construction sector boosted the economy’s third quarter figures. October’s numbers show the construction growth for that month to be the weakest in eight months.

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Frank Chapman of BG Group has recently had very good news to share with shareholders and share prices have seen a confident rise.
Investments

BG Group Reports an Estimated £2.5 Billion Increase to Brazilian Oil Field Reserves

Investors in BG Group were pleased to receive news that the reserves estimate for their three oil fields in Brazil was being increased. The additional reserves are expected to be worth an additional 2.5 billion GBP to the British exploration company. Not surprisingly stock shares for the company saw an increase Tuesday by 41.5p to 1,252p.

Analysts predict that commodity price increases are still due to hit consumers more in the month ahead.

Food Price Increases are Expected to Continue as Wheat and Corn Demands Increase

Food prices saw an increase last month that is the biggest in the past year according to the British Retail Consortium (BRC). A sharp rise in the cost of wheat as well as corn is being blamed for the increase to food prices. Food prices for October were 4.4 per cent higher than a year ago.

Job losses could amount to 1.6 million due to austerity measures according to CIPD report.

CIPD Report Accuses Government of Under Estimating Job Loss Casualty Due to Budget Cuts and VAT Increase

Figures recently released by the Chartered Institute of Personnel and Development (CIPD) estimates that within five years the austerity measures taken by the UK government will cost 1.6 million jobs. The private sector is expected to offer relief as new jobs are created to take up the losses seen in the public sector. But the CIPD is warning that the private sector will be unable to make up enough to get the economy on track when it comes to the UK workforce.

Barclays' Switch and Fix allows a switch from a tracker to a fixed rate at any time without penalty

Barclays Offers The Great Escape Mortgage Product with Its Switch and Fix Offer

The Great Escape is the newest mortgage product offered by Barclays. In an attempt to attract the estimated 700,000 home owners that converted at the end of their existing deal to a standard variable rate and are sitting and waiting, the deal offers lots of incentives. One attractive feature is the lifetime tracker rate at 2.18 per cent above the base rate. With the standard base rate at 0.5 per cent that puts The Great Escape at 2.68 per cent.

Desire Petroleum share prices fell with news of drilling failure only a week after seeing shares climb over 76% in one day.
Investments

Desire Petroleum and Faroe Petroleum See Share Prices Fall with Non-Productive Drilling

Desire Petroleum saw its shares drop with the news that its first effort in drilling for oil in its Rachel prospect in the North Falklands basin had failed. Shares in Desire stock dropped 5 pc to 92 p. The company has three more wells to drill due to the funds of 23 million pounds secured from investors this past September.

US voters are expected to bring in new leaders on Tuesday's election.
Politics

Anger and Frustration in US Economy will likely Bring a Change of Power in Tuesday Election

With just days remaining until a very important election day in the US, campaigners are covering voting areas from coast to coast, increasing television commercials and print ads, and shaking as many hands as possible to try and bring their supporters to the voting polls on Tuesday. Americans are expected to express their anger and frustration with the Obama administration by pulling his party our of Senate and House positions. If they do then Republicans will gain control possibly of both houses of Congress.

Economists worried about housing market but do not expect a crash is near.
Property

House Prices Fall Again as Home Mortgage Loan Approvals Decline another Month

Mortgage loan approvals fell again in September making it a seven month low. The drastic reduction in lending is thought to be the cause of the drop in approvals as well as the fact that homeowners seem to be concentrating more on reducing mortgage debt than adding to it. With fewer able to qualify for loan approvals and less looking to add to personal debt it is not surprising the numbers have dwindled.

New accounting practices for medium and large UK companies will be required by summer of 2013.
Investments

UK Accounting Standards Board Announces Adoption of Highly Criticized IFRS Rules

This past week, Lord Lawson, who sits on the House of Lords Economic Affairs Committee, stated concern over the British accounting standards. Despite concerns from the House of Lords, the Department of Business, and business experts, Britain’s accounting authority is pushing ahead to release international auditing rules that will be required to be adopted by all UK businesses except those considered small businesses.

British Airways is reaping the rewards of hard work. After two years of battling the recovery, they post a generous profit.

BA Sees Profit after Two Long Years of Battling the Recovery

After two years of fighting a relentless economy with fewer and fewer business travelers, British Airways posted a profit. The airlines posted a pre-tax profit of 158 million pounds for Q2 and Q3 combined. The summer quarter saw an even more impressive year on year bounce, with the airline experiencing operating profits of 370 million pounds, against 17 million pounds in losses.

Should RBS seek to sell off its insurance division billionaire Warren Buffett might be a potential buyer.

RBS Seeks Advice from Morgan Stanley and Goldman Sachs as to a Float or Sell of their Insurance Division

The Royal Bank of Scotland (RBS) has decided to either sell off or float its insurance division. A team has been appointed to oversee the process and it is more likely to be a floatation of the business unit on the London Stock Exchange (LSE) than a sale. Both Morgan Stanely and Goldman Sachs are taking on the review of the strategy. The experts believe the time period is expected to be two or three years and a float on the LSE by 2013.

Pension contributions have declined in the 2009-2010 financial year.
Pensions

Pension Contributions Decline as UK Households Struggle in Recovery

Pension contributions have slowed as the economy continues to pressure households to find money to pay bills and daily living expenses. In the latest data from HM Revenue and Customs revealed that personal and stakeholder pension contributions fell by more than 1 billion pounds in the 2009-2010 tax year.

Consumer confidence did not take as big a fall as economists expected.

Consumer Confidence Not as Pessimistic as Expected but Budget Cuts are Yet to be Felt

Analysts predicted that in the face of the greatest budget cuts in decades that consumer confidence would drop. However, in October consumers showed a slight increase according to GfK NOP index. The drop was expected to be as low as -24 which would have been a 14 month low, but instead consumer confidence rose one point to -19.

Executive pay increased between 45 and 55 per cent in the twelve months to June.

Executive Pay out Of Focus with General Worker’s Pay and Needs Review says Cable

At a time when most workers are facing job cuts, figures are out showing that the pay of FTSE 100 directors increased by 55 per cent in the twelve months to June. The pay of directors in the FTSE 350 increased by 45 per cent. Incomes Data Services (IDS), who conducted the research, also reported that bonuses increased for FTSE 100 directors by 34 per cent while basic pay raises increased only 3.6 per cent.

The Internet is worth 100 billion pounds a year to the UK economy.

Google Commissions Report that Shows UK is the World’s Leading e-Commerce Nation

The Internet business is booming in the UK according to a research study commissioned by Google. The data showed that the Internet makes up 7.2 per cent of the UK’s gross domestic product (GDP). The Internet is worth 100 billion a year to the UK economy.

A new tax free savings account is now available for the children of the UK.

New Child Savings Accounts to Provide Variety and Flexibility

Well its official – the government is replacing the Child Trust Funds program with a tax free savings account. It will be similar in regulation to the CTF but will be absent of the government contributions.