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Retailers promise more action on warranties
LONDON (Reuters) - Britain's three biggest electricals retailers have promised the competition watchdog they will improve the transparency of the extended warranties market to avoid a full-blown investigation by regulators.
Hiring by smaller banks spurs finance job market
LONDON (Reuters) - Job vacancies in London's finance sector grew threefold in January compared to a dismal end to 2011, as small and medium sized banks and fund managers looked to pick up staff flooding out of investment banks in retreat, a report showed.
Tesco delays current account launch to 2013
LONDON (Reuters) - Tesco, the world's third-biggest retailer, said its Tesco Bank business in the UK has delayed the launch of its current account service until next year, dealing a blow to government attempts to reduce the dominance of Britain's big five banks.
House prices up 0.6 percent month-on-month
LONDON (Reuters) - House prices rose by 0.6 percent in January, almost completely reversing the previous month's decline, data from mortgage lender Halifax showed on Monday.
Bank lending to shrink in 2012
LONDON (Reuters) - Total bank lending in Britain is set to shrink for the first time since 2009 this year, and the lack of credit from mainstream banks will help payday loan firms grow further, a survey by the Ernst & Young ITEM club said on Monday.
Investors worry where to put cash as banks wobble
LONDON (Reuters) - Investors are holding more cash than at any time since the Lehman Brothers collapse to protect themselves against volatile financial markets, presenting them with a dilemma - where to hold that money when banks are looking shaky.
Record drop in consumer credit
LONDON (Reuters) - Credit card and other unsecured lending to British consumers posted its sharpest drop in nearly two decades in December, supporting expectations that the Bank of England will soon inject more cash into the economy to prevent a deep recession.
UK consumers pay billions in fund dealing costs
LONDON (Reuters) - The funds industry is imposing 18.5 billion pounds of hidden costs on investors every year through dealing charges that are obscured by cryptic fee structures and "convoluted language", new research on financial consumers has found.
Nervy UK fund managers start cautious return to stocks
LONDON (Reuters) - British fund managers began to return to stocks in January, cutting cash, despite worries about the damage Europe's still-unresolved debt crisis might yet inflict on markets, according to a Reuters poll.
Energy firms' accounting practices cleared
LONDON (Reuters) - A forensic review of UK energy company accounting practices has found no evidence of financial irregularities aimed at justifying steep rises in retail gas and electricity bills last year, regulator Ofgem, which commissioned the study, said.