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Heathrow Airport Cancels Flights As Hurrican Gonzalo Wrecks Havoc

Heathrow Airport Cancels Flights As Hurrican Gonzalo Wrecks Havoc

Thousands of UK passengers were left stranded inside the Heathrow airport after officials announced flight cancellations and re-schedules. Hurricane Gonzalo’s 75mph gusts and heavy rain ensure a high-risky flight. The Hurricane has hit the coastal …

Nick Clegg Urges David Cameron to Back Foreign Aid Law

Nick Clegg Urges David Cameron to Back Foreign Aid Law

Labour Leader Nick Clegg successfully urges British Prime Minister David Cameron of spending 0.7% of UK’s GDP to support the foreign aid law. However, Cameron risks a split between the UK Tories, but Clegg endorsed a Private Members’ Bill that …

Almost a Billion People are Living With Serious Debt in The UK

Almost a Billion People are Living With Serious Debt in The UK

According to the Money Advice Service or MAS, only a small fraction of the UK’s population is safe from very high debts in the United Kingdom. They also said that only a small percentage of the indebted are reaching out to professional services to …

Grangemouth Oil Refinery Workers Refuses Deal

Grangemouth Oil Refinery Workers Refuses Deal

Majority of the workers at the Grangemouth Oil Refinery refuses the new terms and conditions set by their employers. According to their union, works will not accept a cut in pension entitlement, overtime pay and redundancy terms. Ineos, their …

New Property Buying Schemes Are Huge Gamble According to GND

New Property Buying Schemes Are Huge Gamble According to GND

Campaign Group Green New Deal is proposing that the British government invest on technology development for creating cheap housing and insulating homes as symptoms of possible property inflation from the new Help to Buy and Funding for Lending …

UK’s Economic Growth in Steady Acceleration

UK’s Economic Growth in Steady Acceleration

UK’s main industries showed acceleration in the second quarter as the country’s GDP increases to 0.6% from the first quarter’s increase of 0.3%. Economist’s prediction held true with the numbers. Services, agriculture and manufacturing …

Research Shows People in their 20s Trapped by High Property Prices

Research Shows People in their 20s Trapped by High Property Prices

Housing Charity Group Shelter sponsored a research that showed people in their 20s may be locked out of home ownership and may need 30 years to afford a deposit on their first home. A generation may be stuck in renting shelter for longer. The study …

Pay Cap for Public Sector Employees

Pay Cap for Public Sector Employees

The public sector employees will not be receiving a pay increase in April as announced by the government. The 1% cap on pay would be given to the nurses, doctors, members of the armed forces, and also hospital cleaners. Unions were not that happy …

David Cameron rejects the call to increase borrowing

David Cameron rejects the call to increase borrowing

The British Prime Minister David Cameron has rejected the argument of the Treasury coming from the Business Secretary, Vince Cable regarding the low interest rates in funding projects and fund housing. Mr. Cameron gave his speech about the economy …

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Bank of England Pushed Further to Vote for Rate Rise

Bank of England Pushed Further to Vote for Rate Rise

A third of the interest rates BoE Governor Mark Carney pointed out can rise in the first three months of the next year. Economic analysts said that it could even rise sooner than expected because some of the nine members of the Bank of England’s Monetary Policy Committee  may vote for a rate rise within

Scottish Independence Will Win It an A Rating from Moody’s

Scottish Independence Will Win It an A Rating from Moody’s

Credit Rating Agency Moody’s predicted that Scotland’s independence will place it below the UK’s Aa1 credit rating to an ‘A’. It predicted that Scotland will gain its own credit improvement over time as a result of probable economic improvements, especially now that it is set to improve its tourism. According to a Moody’s report, the

Banks Could Have Helped Avoid the Growth of PPI Claims Management Companies

Banks Could Have Helped Avoid the Growth of PPI Claims Management Companies

In the United Kingdom, there are about 1,095 claims management companies that had profited at least £5 billion from the £13.3 billion compensation for consumers making a PPI refund claim. According to observers, banks could have avoided if they were the first to call on consumers with possible mis sold PPI. In 2011, the UK

The Real Reason for the Mis Sold PPI Crisis

The Real Reason for the Mis Sold PPI Crisis

After taxpayer-backed Lloyds announced an additional £750 million to their PPI refund total, HSBC and RBS had added £92 and £250 million respectively, increasing the total PPI bill to £17 billion. The most expensive financial scandal in history began ten to fifteen years ago. According to the Financial Ombudsman service, banks and lenders mis sold

Pakistan should increase its tax revenue to receive UK aid

Pakistan should increase its tax revenue to receive UK aid

A committee from the parliament on the United Kingdom aid was concerned about the taxes paid by the Pakistanis. It was reported that only 0.6 percent of the Pakistani population pay their taxes and that corruption was the main cause. The MP said that they will only increase the financial aid to Pakistan if they

Pay Cap for Public Sector Employees

Pay Cap for Public Sector Employees

The public sector employees will not be receiving a pay increase in April as announced by the government. The 1% cap on pay would be given to the nurses, doctors, members of the armed forces, and also hospital cleaners. Unions were not that happy about the news. The Treasury has accepted the recommendations on the

FSA fines Lloyds over PPI delays

FSA fines Lloyds over PPI delays

The saga concerning mis-sold PPI may be drawing to a close next year (if talks to that effect are successful) but the story is by no means over. The latest twist in the tale involved Lloyds Banking Group (LBG) being fined £4.3 million for delays in PPI payments to claimants. An investigation by the Financial

Factors That Increased the PPI Bill to £13 Billion

Factors That Increased the PPI Bill to £13 Billion

The consumer group Which? estimates that PPI is the biggest financial scandal the UK ever faced and analysts are looking for an explanation how the entire payment protection compensation bill can reach such staggering heights. The entire PPI bill of £13 billion for the entire country is said to be caused by the errors of