News Headlines – Wednesday 23rd January

In the papers today…

 

Personal Finance
Britain’s families are being hammered as household costs soar by almost £4,000 in just one year, a new study reveals. While annual household incomes have crept up by an average of £720 over the past 12 months, families are being forced to fork out an extra £331 per month to meet basic bills, the latest Aviva Family Finances Report shows.
The Sun, p.37

Economics
Stricken high street music retailer HMV and its 4,000 staff were thrown a lifeline yesterday when a company that specialises in rescue deals bought its debt and effectively took control. The move by Hilco UK buys time while administrators try to salvage the 240-strong chain and puts it in pole position to engineer a buyout.
Daily Express, p.62, The Times, p.35

Property
House sales in Britain last year were the best since the credit crunch began as lenders said the “shutters are coming up” for mortgage borrowers. There were 932,000 completed transactions last year. This was a fiver per cent increase on 2011 and the highest since 2007, according to HM Revenue and Customs figures.
Daily Express, p.17

Recruitment
Almost 400 workers at a Rolls-Royce factory near Coventry will be among the latest victims of the Government’s defence spending cuts, it emerged last night. The Government’s decision to scrap Harrier jets under its strategic defence review has left the Rolls-Royce plant short of work.
The Times, p.3

Meanwhile, the Telegraph reports staff at Barclays’ investment banking division have been put on notice following a review of the lender’s operations.  This could involve up to 2,000 job cuts, affecting hundreds of jobs in London alone.  According to a piece on the UK’s long-term skills shortage, reported by Randstad Financial & Professional in efinancial careers, employees who want to stay in banking should retrain in compliance.

 

 

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