Daily Finance UK http://www.dailyfinance.co.uk Daily Finance UK http://www.blogsmithmedia.com/http://www.dailyfinance.co.uk/media/feedlogo.gif Daily Finance UK http://www.dailyfinance.co.uk en-us Copyright 2010 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Green car cash boost for Ford and Nissanhttp://www.dailyfinance.co.uk/2010/03/18/green-car-cash-boost-for-ford-and-nissan/http://www.dailyfinance.co.uk/2010/03/18/green-car-cash-boost-for-ford-and-nissan/http://www.dailyfinance.co.uk/2010/03/18/green-car-cash-boost-for-ford-and-nissan/#commentsFiled under: ,

Nissan Leaf in blueThe UK's struggling motor industry has had a much-needed "green" boost. The government has agreed to support Ford's new £1.5bn program of environmentally-friendly vehicles.

Several hundred new jobs are also to be created in Sunderland where Nissan will build the Leaf, a new electric zero-emissions model.

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Green car cash boost for Ford and Nissan originally appeared on Daily Finance UK on Thu, 18 Mar 2010 06:53:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayThu, 18 Mar 2010 06:53:00 ESTIMF funding is now an option - Greecehttp://www.dailyfinance.co.uk/2010/03/18/imf-funding-now-an-option-greece/http://www.dailyfinance.co.uk/2010/03/18/imf-funding-now-an-option-greece/http://www.dailyfinance.co.uk/2010/03/18/imf-funding-now-an-option-greece/#commentsFiled under: , ,

Greek premier smiling in gardenGreece is getting impatient. Premier George Papandreou (pictured) has told reporters that IMF help hasn't been ruled out in helping his country sort out its debt crisis.

Last night there were rumours that interest on an IMF Greek loan could come in as low as 3.25% - a full1% point below a potential combined EU deal.

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IMF funding is now an option - Greece originally appeared on Daily Finance UK on Thu, 18 Mar 2010 06:09:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayThu, 18 Mar 2010 06:09:00 ESTJapan opens credit taps against deflationhttp://www.dailyfinance.co.uk/2010/03/17/japan-doubles-bank-credit-to-boost-lending/http://www.dailyfinance.co.uk/2010/03/17/japan-doubles-bank-credit-to-boost-lending/http://www.dailyfinance.co.uk/2010/03/17/japan-doubles-bank-credit-to-boost-lending/#commentsFiled under: , , ,

Japan is to double the amount of cheap short-term loans to banks in an effort to fight deflation and bolster an economy that's failing to grow quickly enough. The Bank of Japan move will raise around 20 trillion yen, or £146bn.

The Japanese government is desperately trying to fight deflation with core consumer prices still falling. This makes investors wary of investing further; demand simply falls away.

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Japan opens credit taps against deflation originally appeared on Daily Finance UK on Wed, 17 Mar 2010 11:25:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 17 Mar 2010 11:25:00 ESTAdmiral Group charges migrants morehttp://www.dailyfinance.co.uk/2010/03/17/admiral-group-charges-migrants-more/http://www.dailyfinance.co.uk/2010/03/17/admiral-group-charges-migrants-more/http://www.dailyfinance.co.uk/2010/03/17/admiral-group-charges-migrants-more/#commentsFiled under: , ,

If you're a migrant you're more likely to be charged more for your car insurance - if you choose Admiral.

That's the conclusion of a Which? survey that's rapped the insurance player for piling on premiums - almost a 20% hike in some cases - for drivers who haven't lived in the UK since birth.

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Admiral Group charges migrants more originally appeared on Daily Finance UK on Wed, 17 Mar 2010 08:48:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 17 Mar 2010 08:48:00 ESTBernanke confirms US rates to stay lowhttp://www.dailyfinance.co.uk/2010/03/17/bernanke-confirms-us-rates-to-stay-low/http://www.dailyfinance.co.uk/2010/03/17/bernanke-confirms-us-rates-to-stay-low/http://www.dailyfinance.co.uk/2010/03/17/bernanke-confirms-us-rates-to-stay-low/#commentsFiled under: , ,

US Federal Reserve boss Ben Bernanke (pictured) says he intends to keep interest rates at rock-bottom for as long as possible.

Rates will remain at "exceptionally low levels" the rate-setting committee has confirmed. But it is something of a mixed picture.

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Bernanke confirms US rates to stay low originally appeared on Daily Finance UK on Wed, 17 Mar 2010 07:07:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 17 Mar 2010 07:07:00 ESTShell axes jobs but not golden goodbyeshttp://www.dailyfinance.co.uk/2010/03/17/shell-slashes-jobs-but-not-golden-goodbyes/http://www.dailyfinance.co.uk/2010/03/17/shell-slashes-jobs-but-not-golden-goodbyes/http://www.dailyfinance.co.uk/2010/03/17/shell-slashes-jobs-but-not-golden-goodbyes/#commentsFiled under: , ,

Shell logoIn an effort to cut costs Shell is pulling out from many low volume service stations and slashing at least 1,000 jobs.

But despite efforts to cut costs amongst its workers, its making sure its directors are still comfy: the oil giant has just admitted it more than doubled the pension pot - to nearly £16m - of its ex gas and power boss, Linda Cook.

Continue reading Shell axes jobs but not golden goodbyes

Shell axes jobs but not golden goodbyes originally appeared on Daily Finance UK on Wed, 17 Mar 2010 06:04:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 17 Mar 2010 06:04:00 ESTBuy-to-let landlords out of the woods?http://www.dailyfinance.co.uk/2010/03/16/buy-to-let-landlords-out-of-the-woods/http://www.dailyfinance.co.uk/2010/03/16/buy-to-let-landlords-out-of-the-woods/http://www.dailyfinance.co.uk/2010/03/16/buy-to-let-landlords-out-of-the-woods/#commentsFiled under: , ,

Toy house with keys attached to front doorRICS' latest Lettings Survey has good news for buy-to-let landords: demand is rising while supply is on the wane. Apparently.

RICS claims that 23% more chartered surveyors reported a fall in landlord instructions in the last quarter. Reasons vary, but the modest rise in the housing market generally is a factor, RICS' reckons.

Continue reading Buy-to-let landlords out of the woods?

Buy-to-let landlords out of the woods? originally appeared on Daily Finance UK on Tue, 16 Mar 2010 08:49:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 16 Mar 2010 08:49:00 ESTFTSE-100 wobbles on China growthhttp://www.dailyfinance.co.uk/2010/03/16/worries-increase-on-china-growth-prospects/http://www.dailyfinance.co.uk/2010/03/16/worries-increase-on-china-growth-prospects/http://www.dailyfinance.co.uk/2010/03/16/worries-increase-on-china-growth-prospects/#commentsFiled under: , ,

Chinese flagIs China's economy slowing? The Telegraph reported today (see link at end of article) that the FTSE-100 benchmark index retreated yesterday, with mining stocks dragging confidence down.

China is worried about its economy overheating. There are plenty of economists already warning that China's economy looks strikingly close to that of Japan's in the late 1980s.

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FTSE-100 wobbles on China growth originally appeared on Daily Finance UK on Tue, 16 Mar 2010 07:36:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 16 Mar 2010 07:36:00 ESTBig leap in new UK mortgage fundinghttp://www.dailyfinance.co.uk/2010/03/16/big-leap-in-uk-mortgage-funding/http://www.dailyfinance.co.uk/2010/03/16/big-leap-in-uk-mortgage-funding/http://www.dailyfinance.co.uk/2010/03/16/big-leap-in-uk-mortgage-funding/#commentsFiled under: , , ,

Pic of houses and up and down arrowsIt's raining mortgages out there with a record 70% increase in mortgage products.

Moneyfacts says that at the start of April 2009 there were just 1,209 UK products offered - that's now increased by 70% to a total of 2,053.

Continue reading Big leap in new UK mortgage funding

Big leap in new UK mortgage funding originally appeared on Daily Finance UK on Tue, 16 Mar 2010 06:05:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 16 Mar 2010 06:05:00 ESTEU slams Brown and Darling on deficithttp://www.dailyfinance.co.uk/2010/03/16/eu-blasts-brown-and-darling-on-deficit/http://www.dailyfinance.co.uk/2010/03/16/eu-blasts-brown-and-darling-on-deficit/http://www.dailyfinance.co.uk/2010/03/16/eu-blasts-brown-and-darling-on-deficit/#commentsFiled under: , ,

EU bureacrats at lunch - gilded pictures, big banqueting hall, scoffing foodEU bureaucrats claim Gordon Brown and Alistair Darling are not trying hard enough to bring down the UK's deficit.

The EU Commission warns that the UK won't slash its deficit in line with EU rules by 2015 - these rules state that deficits must be under 3% of GDP.

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EU slams Brown and Darling on deficit originally appeared on Daily Finance UK on Tue, 16 Mar 2010 04:54:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayTue, 16 Mar 2010 04:54:00 ESTFears rise for the UK's "hidden" joblesshttp://www.dailyfinance.co.uk/2010/03/15/fears-for-the-uks-hidden-jobless/http://www.dailyfinance.co.uk/2010/03/15/fears-for-the-uks-hidden-jobless/http://www.dailyfinance.co.uk/2010/03/15/fears-for-the-uks-hidden-jobless/#commentsFiled under: , ,

Man with head in his handsConcern about UK job security is building again. Firstly, the Bank of England has warned that fears about job insecurity are still holding back the economy.

And the Chartered Institute of personnel and Development (CIPD) has also chimed in; it says UK unemployment compares poorly with Europe - and that the UK jobless picture is probably worse than the bare stats claim.

Continue reading Fears rise for the UK's "hidden" jobless

Fears rise for the UK's "hidden" jobless originally appeared on Daily Finance UK on Mon, 15 Mar 2010 11:21:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayMon, 15 Mar 2010 11:21:00 ESTFSA rules risk extinction of mutualshttp://www.dailyfinance.co.uk/2010/03/15/fsa-rules-risk-extinction-of-mutuals/http://www.dailyfinance.co.uk/2010/03/15/fsa-rules-risk-extinction-of-mutuals/http://www.dailyfinance.co.uk/2010/03/15/fsa-rules-risk-extinction-of-mutuals/#commentsFiled under: , , , ,

Skipton building society logoCould new strict FSA rules be the death of mutuals? Building societies are a dying breed currently thanks to increased market consolidation and low interest rates.

However the boss of mutual MGM Advantage says new FSA rules could force many to close or merge. Assurance boss Chris Evans told the Independent that the new rules could "force many mutuals to either consider merging or closing to new business and going into run-off."

Continue reading FSA rules risk extinction of mutuals

FSA rules risk extinction of mutuals originally appeared on Daily Finance UK on Mon, 15 Mar 2010 07:58:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayMon, 15 Mar 2010 07:58:00 ESTSainsbury's staff dodge 50% tax ratehttp://www.dailyfinance.co.uk/2010/03/15/sainsburys-staff-dodge-50-tax-rate/http://www.dailyfinance.co.uk/2010/03/15/sainsburys-staff-dodge-50-tax-rate/http://www.dailyfinance.co.uk/2010/03/15/sainsburys-staff-dodge-50-tax-rate/#commentsFiled under: ,

Justin King, Sainsbury's bossGrocer J Sainsbury's is paying bonuses to top brass early to avoid the 50% tax rate. It will mean around 1,200 of its higher earners will be substantially better off. Including boss Justin King (pictured) who earnt more than £5m in 2008.

Sainsbury's denies the move is a tax dodge. Rather, it says the move is designed to cut the time staff have to wait before they get their clutches on the extra cash.

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Sainsbury's staff dodge 50% tax rate originally appeared on Daily Finance UK on Mon, 15 Mar 2010 06:42:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayMon, 15 Mar 2010 06:42:00 ESTEU-Greece debt deal ready for sign-off?http://www.dailyfinance.co.uk/2010/03/13/eu-greece-debt-deal-ready-to-sign-off/http://www.dailyfinance.co.uk/2010/03/13/eu-greece-debt-deal-ready-to-sign-off/http://www.dailyfinance.co.uk/2010/03/13/eu-greece-debt-deal-ready-to-sign-off/#commentsFiled under: , ,

Greek flagIt's thought an EU-Greece deal is almost signed off - thanks to the generosity of the Germans.

The Guardian newspaper reports a multi-billion deal is on the table. Berlin has apparently bowed to multiple pressures and its hugely resistant electorate, to a deal.

Continue reading EU-Greece debt deal ready for sign-off?

EU-Greece debt deal ready for sign-off? originally appeared on Daily Finance UK on Sat, 13 Mar 2010 06:22:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidaySat, 13 Mar 2010 06:22:00 ESTErnst & Young in Lehman firing line?http://www.dailyfinance.co.uk/2010/03/13/ernst-and-young-in-firing-line-over-lehmans/http://www.dailyfinance.co.uk/2010/03/13/ernst-and-young-in-firing-line-over-lehmans/http://www.dailyfinance.co.uk/2010/03/13/ernst-and-young-in-firing-line-over-lehmans/#commentsFiled under: , ,

Ernst and Young logoErnst & Young is battling to save its reputation as the investigation into the collapse of Lehman Brothers gathers pace - at last.

City accountancy operator Ernst & Young is heavily criticised in a new report on the collapse of the investment bank giant, which could now pave the way for some pretty lethal - and protracted - lawsuits.

Continue reading Ernst & Young in Lehman firing line?

Ernst & Young in Lehman firing line? originally appeared on Daily Finance UK on Sat, 13 Mar 2010 05:36:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidaySat, 13 Mar 2010 05:36:00 ESTJohn Lewis staff celebrate £151m bonushttp://www.dailyfinance.co.uk/2010/03/12/john-lewis-staff-awarded-151m-in-bonuses/http://www.dailyfinance.co.uk/2010/03/12/john-lewis-staff-awarded-151m-in-bonuses/http://www.dailyfinance.co.uk/2010/03/12/john-lewis-staff-awarded-151m-in-bonuses/#commentsFiled under:

John Lewis store entranceJohn Lewis staff are celebrating soaring sales with a £151m bonus. Even after this cash is divided between 70,000 staff, it's still a sizeable sum - about 15% of each employee's salary.

The staff pay-out is estimated to be worth around eight weeks' wages for most staff. John Lewis full year profits hit £307m, almost 10% ahead of sales in the previous year.

Continue reading John Lewis staff celebrate £151m bonus

John Lewis staff celebrate £151m bonus originally appeared on Daily Finance UK on Fri, 12 Mar 2010 08:01:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 12 Mar 2010 08:01:00 ESTFSA to deliver on consumer protection?http://www.dailyfinance.co.uk/2010/03/12/fsa-to-deliver-on-consumer-protection/http://www.dailyfinance.co.uk/2010/03/12/fsa-to-deliver-on-consumer-protection/http://www.dailyfinance.co.uk/2010/03/12/fsa-to-deliver-on-consumer-protection/#commentsFiled under: , , , ,

FSA LogoConsumers will get tougher protection on mortgages, pensions and investment products in the future, according to FSA boss Hector Sants.

Sants is leaving his job soon. But he clearly wants to leave the British public better protected against product mis-selling - so some legacy-building is going on.

Continue reading FSA to deliver on consumer protection?

FSA to deliver on consumer protection? originally appeared on Daily Finance UK on Fri, 12 Mar 2010 06:30:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 12 Mar 2010 06:30:00 ESTBP goes nuts for new Brazil dealhttp://www.dailyfinance.co.uk/2010/03/12/bp-goes-nuts-for-new-brazil-deal/http://www.dailyfinance.co.uk/2010/03/12/bp-goes-nuts-for-new-brazil-deal/http://www.dailyfinance.co.uk/2010/03/12/bp-goes-nuts-for-new-brazil-deal/#commentsFiled under: , ,

BP logoBP hopes Brazil is about to spout serious oil. BP has just bought a load of exploration assets from US company Devon Energy for £4.7bn.

These sites include ten promising new Brazilian fields, plus deep water sites in the Gulf of Mexico. It's all about long-term potential. But it's thought BP will gain around 40,000 barrels a day from the deal immediately.

Continue reading BP goes nuts for new Brazil deal

BP goes nuts for new Brazil deal originally appeared on Daily Finance UK on Fri, 12 Mar 2010 06:04:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 12 Mar 2010 06:04:00 ESTPick of the early market newshttp://www.dailyfinance.co.uk/2010/03/12/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/12/pick-of-the-early-market-news/http://www.dailyfinance.co.uk/2010/03/12/pick-of-the-early-market-news/#commentsFiled under: , ,

FTSE 100 graphA quiet day for big names. However Aga has released 2009 preliminary results. Revenues dipped to £245m compared to £279.4m in 2008.

It was a very tough year for Aga with earnings per share being hammered, from 14.4p to 2.5p. Pre-tax profit figures were just £0.5m compared to £14.4m a year ago.

Continue reading Pick of the early market news

Pick of the early market news originally appeared on Daily Finance UK on Fri, 12 Mar 2010 02:46:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayFri, 12 Mar 2010 02:46:00 ESTAAA downgrade risk increases for UKhttp://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/http://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/http://www.dailyfinance.co.uk/2010/03/10/aaa-downgrade-risk-increases-for-uk/#commentsFiled under: , , ,

Graphs showing houses and pound signsThe Brown government needs to be clearer about its planned austerity measures. If it can't, then a downgrade of its AAA credit rating looms.

That's the view of Fitch Ratings. Fitch says that though plenty of other EU countries are getting their debt priorities in ordier, the UK is lagging.

Continue reading AAA downgrade risk increases for UK

AAA downgrade risk increases for UK originally appeared on Daily Finance UK on Wed, 10 Mar 2010 07:04:00 EST. Please see our terms for use of feeds.

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]]>Adrian HollidayWed, 10 Mar 2010 07:04:00 EST