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Analysts say 17% rise from spring 2022 shows ‘housing market isn’t working for anyone’The average cost of renting a room in the UK has risen to more than £700 a month for the first time, according to data from the property website SpareRoom.Experts sai…
Banks ‘could weather £125bn hit in economic downturn’ despite rising interest ratesBusiness live – latest updatesThe UK’s largest banks are strong enough to weather a £125bn financial hit during a severe economic downturn, despite facing mounting stres…
Lenders expected to put money aside in second quarter to protect against defaultsBusiness live – latest updatesMore mortgage borrowers are likely to face financial stress in the months ahead, lenders have warned, as rising interest rates pushed the cos…
Average rate rises to 6.66%, according to Moneyfacts, in more bad news for homeownersUK interest rates likely to rise again despite slowing labour marketTwo-year fixed mortgage rates in the UK have risen to the highest level since the 2008 financial cr…
Jeremy Hunt and Bank of England’s Andrew Bailey call for wage restraint to help curb inflationInterest rates likely to rise again despite slowing labour marketWages increased at a faster rate than expected in May, putting pressure on the Bank of Englan…
Chancellor will outline proposals to mobilise investment and support homegrown firms in Mansion House speechThe chancellor, Jeremy Hunt, is poised to announce plans to merge workplace pension schemes and release up to £75bn of retirement funds for fast…
Critics fear the change could negatively affect businesses and workers who already struggle to collect their post and packagesRoyal Mail has reduced the opening hours at half of its customer service points in the UK on Monday, with critics warning it c…
Some two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday. From a report: Cent…
As an “ambassador” for FTX, football quarterback Tom Brady appeared at the company’s conference in the Bahamas, and in TV commercials promoting the exchange as “the most trusted” institution in crypto, remembers the New York Times. And it was all about…
Money follows £1.5bn injection secured in 2022 but troubled utility warns much more future funding neededThames Water has secured £750m from its shareholders but the debt-ridden company warned it would need further funding in the years ahead.The new fu…