United Kingdom

Climate policies hitting fuel hard

After the economic slump slapping many in the global glitch, many people residing in fuel dearth are feeling the hit hard by the government's climate modification plan, which has been advised.

As per the Fuel Poverty Advisory Group tinting that energy bills which have been augmented by 125% during the past six years, which in return has trailed to more people jostling with payments.

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Mortgage payments moving low at its best

According to the Council of Mortgage Lenders the mortgage interest expenditures crafted up the shortest quantity of home movers' earnings in its 35 years course in the month of May.

It further added that the house buy lending plunged up in the eleventh successive month; however this shall dwindle during the second half of this year likely, as the growing challenges of the economic milieu is mounting leading a way for the Government expenditures curtails and tax inclinations.

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RBS and Lloyds hacked more than 7000 Scottish jobs in 12 months

Royal Bank of Scotland and Lloyds Banking Group made one in six of their employees redundant during a period of last 12 months, a report published in the Sunday Herald revealed.

Revealed figures showed that RBS and Lloyds collectively hacked more than 7000 during the last one-year period in a bid to cut costs.

The two Edinburgh-based banking giants had a workforce of 43,600 people in the first quarter of 2009. But, the number of employees was slashed 17 per cent to 36,300 by the end of first quarter of this year.

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UK profit warnings could rise after falling to seven year low: Ernst & Young

The number of British firms issuing profit warnings has slipped to a seven-year low during the second quarter of current year.

Figures released by Ernst & Young revealed that only 45 firms issued profit warnings in the three months ended June, down from 53 in the previous quarter. It was the first quarter to report the number of profit warnings below 50 since 2003.

The travel, leisure, support services, construction, general retail and software & computer services sector were under pressure. Ernst & Young said six warnings were from the travel and leisure sector.

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Kent to sign £50m deal with US private equity firm JC Flowers

Kent Reliance Building Society announced on Monday that it was pursuing discussions with US private equity firm JC Flowers to raise £50 million to create a new building society consolidation vehicle.

Kent Reliance Building Society is in need of funds to expand business further, and the potential deal is expected to allow it to boost its business size to double within a short span of time.

JC Flowers will hold 49 per cent stake in the in the new building society consolidation vehicle, while the majority stake will be enjoyed by the Kent Reliance.

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