Pound Rallies On Robust Jobs Data
The volatile British pound is higher late Wednesday morning after the release of some unexpectedly robust domestic jobs data while the dollar has ceded ground against a number of more risk-sensitive currencies.
The pound was propelled higher after the U.K. government reported that the number of people claiming unemployment benefits fell 32,200 last month, the largest drop since November 1997. Read more
Pay-day-loans
A Pay day loan is a small amount of money that is meant to cover the borrower’s expenses until his/her next pay day.These are also called cash advances.the rules varies from company to company,some charge interests while others not.For a person to avail this facility he/she should be working,should own a bank account and must be earning a standard amount of salary.
Cambridge to issue bonds to raise money
For the first time in its 800-year history, Cambridge University is planning to issue bonds to raise money from the markets, a varsity official said. Read more
Happy Christmas and New year 2010
Christmas is coming and we’d like to wish you happy holidays and lots of great glories in upcoming 2010!
We wish you, and all of the readers of Megri UK Blog, www.megri.co.uk, a very Merry Christmas and a Happy New Year.
This year was great and, we are sure, the next one will be even better!
Dollar Declines to Weakest Level
The dollar declined to the weakest level against the euro since before the bankruptcy of Lehman Brothers Holdings Inc., unwinding gains posted when the plunge in global financial markets spurred demand for safety.
Brazil’s real and Mexico’s peso rose on speculation carry- trade investors bought higher-yielding assets at the expense of the greenback. The dollar’s decline helped push gold to a record high and buoyed Treasuries. Sterling rose from a six-month low against the euro as Bank of England Deputy Governor Charles Bean said asset purchases may be working.
Tight supply pushes U.K. house price
A growing majority of British surveyors saw house prices rise in September due to an ongoing lack of homes for sale, the Royal Institution of Chartered Surveyors reported Tuesday.
The group’s monthly survey found the net balance of surveyors reporting rises rather than falls in house prices rose to +22 in September, up from +10 in August and its highest reading since May 2007. The balance is calculated by subtracting the number surveyors who report a fall in price from the number who report a rise.
The South of England, which includes London, led the upturn in prices. The net balance in London rose to +79, while the Southeast rose to +52.
“A lack of supply is still underpinning the rise in house prices with new instructions to estate agents only edging up very gradually,” said RICS spokesman Ian Perry.
Currency Tumbles on Fear That Bailout
The U.K.’s latest bank-rescue effort initially backfired Tuesday, helping drive its currency to historic lows while aggravating fears about the stability of the country’s banks and the fate of the government’s finances. Read more
Brown urges banks to ‘come clean’
Gordon Brown told the Financial Times the banks had to “come clean” about these bad debts so people could trust them again.High Street bank executives are holding talks with Treasury officials over the weekend about the economic crisis and the possibility of more help. Read more