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As of November 13, 2024, mortgage rates in the U.S. have surged to 6.79%, the highest since July, driven by inflation concerns following Donald Trump's election victory. In the UK, rising rates are also impacting the housing market, prompting borrowers to act quickly amid economic uncertainty and higher borrowing costs.
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Recent financial updates from major UK retailers reveal a mixed performance. Sainsbury's reported a revenue increase, while Primark faced challenges due to weather. Domino's showed growth in sales and store openings, indicating resilience in the fast-food sector. Overall, the retail landscape remains dynamic as companies adapt to changing consumer behaviors.
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As of November 22, 2024, the UK housing market is experiencing a decline in asking prices and rising mortgage rates. The average asking price has dropped by 1.4% this month, while fixed-rate mortgage costs are increasing, impacting affordability for buyers, particularly first-time purchasers. Changes to stamp duty are also expected to affect market dynamics in 2025.
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As Black Friday and Cyber Monday approach, experts warn of a significant rise in online shopping scams. Cybercriminals are exploiting consumer eagerness for deals, with reports indicating that many shoppers fall victim to fraudulent websites and offers. Authorities urge vigilance and provide tips to protect personal data and finances.
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Barclays has decided to withdraw its appeal against a £40 million fine imposed by the Financial Conduct Authority (FCA) for failing to disclose fees paid to Qatari investors during the 2008 financial crisis. The bank aims to move past the issue, despite not agreeing with the FCA's findings.