News headlines for January 5th

Pound rallies as UK remains safe haven

Sterling rose to a 15 month high against the Euro yesterday as fears grow about the future of the single currency

Home owners borrow less in weak market

Mortgage approvals rose slightly in November according to Bank of England figures though remortgaging levels plummeted and loans for new homes increased at a very low rate

Londonhouse prices beat north

Average house prices in Britain finished at £221,331 down just £854, says property portal Zoopla but Centre for Economic Business Research says the 38% crash in city bonuses will wipe out billions of pounds spent on real estate

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