City News

Housing stock valued at £5 trillion

The value of private homes has soared in the past year, a new report says

The total value of the UK's private housing stock has broken through £5 trillion this year as the property market recovery has taken off, a report has found.

Chinese rates move boosts US stocks

US stock markets have been boosted by news from China

US stocks have pushed further into record territory as investors welcomed a move by China to stimulate its economy by lowering interest rates.

RBS admits stress test data error

Royal Bank of Scotland made a mistake in its sums relating to a European stress test

State-backed Royal Bank of Scotland suffered fresh embarrassment today after admitting it had got its sums wrong over a stress test by European regulators to see if lenders could withstand another major financial crisis.

24 Ulster Bank branches to close

Ten Ulster Bank branches in counties Antrim, Down, Tyrone and Londonderry are to close

Twenty-four Ulster Bank branches across Ireland are to close early next year as consumer champions warned large areas risked becoming "financially forgotten".

Shares surge as FTSE 100 recovers

London's leading share index neared the 6,800 level after a surprise interest rate cut from China

Hopes that a fresh barrage of central bank stimulus will boost global economic prospects helped shares surge today as the FTSE 100 Index bounced back from recent lows.

More safeguards in tax seizure plan

David Gauke said the powers will only be used when debtors have consistently refused to talk to HMRC

Extra safeguards are to be placed around the taxman's controversial new powers to seize money directly from people's bank accounts, the Government has announced.

Osborne set to miss deficit target

Activity in the housing market has slowed down

Britain's beleaguered public finances caused George Osborne a fresh headache today as new figures left him on course to miss his deficit reduction target and offered limited scope for giveaways in his Autumn Statement.

China rate cut boosts FTSE 100

The rally by London's top flight was driven by the commodities sector after heavy losses earlier in the week

A surprise cut in Chinese interest rates provided a major boost to mining stocks and ensured the FTSE 100 Index finished the week on the front foot.

Rolls wins £3.2bn engine order

Rolls-Royce workers with one of the company's engines

Engines giant Rolls-Royce received a £3.2 billion boost today after it was chosen by Delta Air Lines to power 50 new Airbus aircraft.

UK should leave EU reiterates Dyson

Sir James Dyson said the company 'must relentlessly invent' (Dyson/PA)

Inventor Sir James Dyson has reiterated he wants Britain to leave the European Union, as he pledged to spend £1 billion on research and development.

Paym extended to HSBC businesses

Paym was launched at the end of April

Businesses will be able to take payments from customers using just a mobile phone number as a new service which makes paying as easy as sending a text continues to be rolled out.

Taxman 'leaving door open' to abuse

The National Audit Office examined 10 tax breaks to see whether the government was monitoring them properly

Billions of pounds in tax could have been dodged because the government is failing to track abuse of reliefs, according to a spending watchdog.

House price boom spreads across UK

There has been a growth in house prices of more than 5% across 20 UK cities over the last year, figures reveal

Homes in all of the country's 20 largest cities have seen their values increase by at least 5% annually for the first time in more than a decade, as the housing market recovery ripples out beyond the South East.