News Headlines – Monday 28th January 2013

Economics: Communities across the North are set to find out whether the high speed rail will cross their paths, as David Cameron is set to unveil the blueprint plans for the second phase of the £33billion HS2 project – the fastest railway in Europe. Attempts to salvage HMV will continue this week, as restructuring firm Hilco, which bought the retailer, looks to save half of the 223 UK stores.

Recruitment: Official figures from law firm EMW reveal Britain’s employers shelled out a record £5billion in redundancy payments last year. According to a study by PWC, top UK bosses are facing significant bonus cuts but are still expected to receive windfalls of 60 per cent of their salaries.

Property: House prices stayed completely flat in January according to data released by Hometrack, which identifies a 9.9% fall in new buyer registrations and a 6.8 decline in the volume of property listings. This represents the biggest fall in supply for 48 months.  Hometrack also found that four-fifths of Estate Agents expect to see a turnaround in the number of home sales, with spring being the key test of the Funding-for-Lending scheme.

Personal finance. Figures from the National Association of Pension Funds (NAPF) have shown final salary pension schemes closed at a record rate last year. Just 13 per cent of Britain’s 6,000 final salary schemes remain open to new workers – a drop from 19 per cent in 2011.

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