Bank of England's Policy-Maker Adam Posen has shared that despite the fact that there is an impending risk that the central bank's asset purchase policy might turn out to be ineffective, there is a good chance that Britain's economy would recover very strongly over the coming years.
Mr. Posen's statement came after he had delivered a speech in London about asset bubbles. He said that for the time being, there should be no worries regarding the inflation risks, and UK's economy has already emerged out of the worst recession that the country had seen in 50 long years.
As a fresh wave of market changes revived investors' interest in the metal as a potential investment, as well as on the back of a weakening US Dollar, Gold prices hit a record high in Euro and Sterling terms on Wednesday, pegging the metal as an important investment vehicle all over again.
While Euro-priced Gold climbed to a new high of 805.25 Euros per ounce, in terms of Sterling, the metal surged to a whopping value of 732.28 Pounds an ounce. The data has been confirmed and shared by Reuters.
Responding to the newspaper industry's concerns that their content is being exposed to various undesirable sources through Google's search result listings, the search engine giant on Tuesday announced that it would soon let publishers set a daily limit on the amount of free content that users can view through search engine listings.
Recent figures shared by the Royal Institution of Chartered Surveyors, collected after extensive research, have revealed that in the coming year, rents are expected to start rising to reach a new high, on the back of a fall in the number of rentable residential properties that are available. The number of properties up for rent has dwindled to levels last seen in 1998.
The recent improvement that the housing market has recorded has led to the first fall in the number of new homes available since January 2008.
In a recent development, communications regulator Ofcom has announced that it might allow BT to hike its rates for wholesale customers, like BSkyB and Carphone Warehouse, to help it make up for its 9.4 Billion Pounds worth of pension deficit.
Yesterday, the group hinted that after it has finished reviewing that whether or not BT's wholesale prices should be affected by deficit payments, there is a chance that wholesale prices might be hiked by as much as 4%.
Yorkshire and Chelsea, UK's second and fifth largest buildings societies, respectively, have revealed that they are in "advanced talks" about a possible merger, post which both the firms will join to create the "second large mutually owned mortgage and savings institution" to arch rival Nationwide, which currently boasts being the largest building society in Britain.
Currently, Yorkshire has 2 million members and 143 branches, and Chelsea, on the other hand, has 35 branches and about 700,000 members.
Virgin Media introduced a new mobile broadband dongle that increased the speed up to 7.2Mbps. Virgin’s previous dongle was providing a speed of 3.6Mpbs.
Virgin claimed that its new dongle would allow its mobile broadband customers connect quicker and anywhere.
Virgin further added that improved speed would allow consumers to get access to their favorite TV shows as well as Youtube clips in much shorter time.
Motorola Droid, which is known in the UK as Motorola Milestone, will hit the British markets on December 7.
Online retailer Expansys has won the exclusive rights to sell the Milestone in the UK.
Android-based Milestone possesses some superlative features to boast of. It is equipped with a 3.7-inch touch-screen, a 5-megapixel camera with LED flash, a slide-out QWERTY keyboard.
It has a storage capacity of up to 32GB. In addition, it provides WiFi, GPS.
Greene King, Britain's fourth-largest pub company, has plans to expand by making new acquisitions after reporting a rise of 3 per cent in half-year profits.
Greene King disclosed yesterday plan to acquire seven pubs in Scotland from Mitchells & Butlers in a deal worth £12.7 million.
Earlier in July, Greene King had acquired 11 pubs from Punch Taverns for £30.4 million. Now, the company is in talks to acquire more assets.
Sales of electronics increased in November, while clothing and luxury stumbled.
According to figures released by SpendingPulse, sales of electronics climbed 6.6 per cent in November as compared with the same period last year, helped by new videogame releases and Black Friday discounts.
Jewelry sector also reported a jump of 4.6 per cent in November.
However, sales of garments at malls slipped in 5.7 per cent during the same period.
News Corp. chairman Rupert Murdoch has recommended that the rest of the media industry should start charging for their online content.
Mr. Murdoch was speaking at a U. S. Federal Trade Commission workshop on the Internet's effect on journalism.
He said good journalism is expensive and should not come free of cost.
Speaking on the issue, Mr. Murdoch said, "We need to do a better job of persuading consumers that high-quality, reliable news and information does not come free."
A recent clinical trial has revealed that bone marrow stem cells have the potential to repair damaged parts of the heart which are caused as a result of a cardiac arrest. As per the study, the stem cells "home in" on the heart's damaged parts, and once there, send out signals that help the body effectively repair the injuries caused.
Official figures shared by industry experts have revealed that online retail stores are all ready to set a new sales and earnings record for Cyber Monday, with Amazon. com and Walmart. com, both arch rivals, racing to become the prime beneficiaries.
On Monday, in lieu of high rise in sales, Amazon's shares surged to hit an all-time high. The online shopping portal is now expecting even better holiday season sales, and has already reported record breaking sales of its Kindle e-reader for the month of November.
ISA sales soared to a new high in October as the limit of amount that the over-50s could invest was increased to £10,200.
As per figures released by the Investment Managers Association, gross ISA sales stood at £965 million in October.
Net ISA sales were reported at £301.1 million as compared with £162.3 million in September.
Pubs chain JD Wetherspoon announced on Tuesday it plans to open 250 new pubs over the next five years in a move that would create 10000 jobs.
JD Wetherspoon said it would invest 250 million pounds in the new pubs over the five year period.
Speaking on the decision, Wetherspoon's chairman Tim Martin said, “Our pubs are extremely popular and we wish to build on their success by opening more.”
Tim Martin further added that falling property prices due to recession provided Wetherspoon with an opportunity to expand.