UK economy is in good health

According to two major business lobby groups, the CBI and the British Chambers of Commerce (BCC), the UK economy is in good health. The CBI report that in May growth reached a record high, marking the best reading since it began gathering data in 2003. Read more…

29/05/14 Market Movements

Market news The FTSE 100 closed up  20.07 points at 6,871.29 as investors brushed off weaker than expected data concerning the U.S. economy. A report from the U.S. Commerce Department showed the world’s biggest economy contracted 1% in the first quarter of 2014, more than Read more…

Tesco in Joint Venture with China Resources Enterprise

Tesco and state-run CRE are to create China’s largest food retailer, called Vanguard. Tesco’s stake will be 20% in the new venture, helping it to create a strong platform in the world’s largest market for food and groceries estimated at more than one trillion dollars Read more…

Nationwide warns of ‘natural correction’ in house prices

Nationwide building society has warned the London housing market may face a “natural correction” as it reported its best ever annual results. Chief executive, Graham Beale said there was already a “slowing down in the market place”. It comes as Nationwide reported a four-fold rise Read more…

Lloyds sells TSB

After winning approval from European Union regulators on May 13 to scale back the amount of assets it has to sell. Britain’s biggest mortgage lender, will sell 25 percent of its TSB consumer bank in an initial public offering next month and offer bonus shares Read more…