News headlines Saturday 13th October

Property

Output in Britain’s construction sector in August contracted for nearly every activity, dashing hopes that it will make a strong contribution to overall economic production in the third quarter, CML said that lending for house purchases rose by 12 per cent in August compared with July and 11 per cent compared with the same period last year. FT p 4, Times p 61

 Economic

RBS’s deal to sell 316 branches to Spain’s Santander has collapsed.  RBS had been working on the deal for more than 2 deals and Santander has pulled the plug on the deal, initially valued at £1.6bn.  The Spanish bank is understood to have become increasingly concerned about delays in the adjustment of the IT Systems in the carved out business and worried that the business could not be transferred seamlessly without affecting customers, FT p 1, Times 56

 Consumers facing winter of discontent after fuel prices rise – Household energy bills have hit a new high after tow of Britain’s biggest suppliers raised tariffs yesterday, Times p 60

 Food prices are rising – forcing families to cut back on meat, veg and fruit, Mail p 24

 PF

Workers face losing hundreds of pounds in wages each year as companies freeze salaried to offset the cost of auto enrolment pension schemes, Government figures show, Tel p 6

 Older parents are being deprived of their “golden years” because of the burden of grown-up children still living under their roof, a study has found.  Many parents of the so called “boomerang generation” have put plans to down size, move to the country or take a dream holiday on hold, Report by Shelter Tel p 13, Mail p 29

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