So the scene is set for a momentous day with the vote the most significant event since the single currency started in 2002.
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BRITS BACK BUYING ABROAD AS STERLING SHOWS STRENGTH
With the British pound returning to health, a leading currency exchange broker is reporting a rise in overseas property investment.
The noughties saw property investment boom across Europe, but with an unstable Euro, CurrencyUK has seen property buyers look further afield for investment opportunities to South East Asia, South [...]
Controversial holiday home tax scrapped
21 June 2011
Almost as soon as it was mooted in parliament, the proposal to introduce a new tax on those with second homes in France has been scrapped.
The decision by President Nicolas Sarkozy was made over the weekend under pressure from both English speaking expatriates and French nationals living abroad.
Currently, non-French [...]
George Osborne used his annual address at the Lord Mayor’s banquet last night to announce that Northern Rock would be put up for sale, or at least part of it. During the financial crisis the bank was split into a ‘good bank’ containing the branches, retail deposits and the less risky mortgage book and a [...]
Asian equity markets have started the new week lower, following on from Wall Street’s lower close on Friday. Worries continue to abound about the recent spate of macro data and what it means for the global outlook. While there was little out of consequence overnight, a fall in machine orders in Japan and a surprisingly [...]
The difficulties on our high street were laid bare yesterday when the owner of the Argos chain said that sales of TV’s, iPods and audio equipment had fell by up to 25% over March and April. This news also coincided with a major survey showing that 40pc of consumers had made “significant” cutbacks since the [...]
UK house prices have dropped at their fastest rate for 19 months with, prices falling 4.1% in the three months to May. This is a trend that is likely to continue in the near term, with, mortgage approvals a leading indicator of house prices dropping in April. This is as first time buyers struggle to [...]
The European Commission, the ECB and the IMF released a statement on Friday stating they would pay the next instalment of the 110bn Euro bailout and are ready to extend the programme. The plan still needs to be formally signed off by the euro zone finance ministers, but there is a general sense that Greece [...]
Today we start on a brighter note than yesterday with the UK construction sector offering some welcome respite from the recent barrage of gloomy data. The construction PMI released yesterday came in at 54, signalling a pick in the expansion rate from the previous month’s 53.3, where anything above 50 signals growth.
As with any UK [...]
Hopes for an economic revival took a major setback yesterday as activity in the manufacturing sector slumped to levels last seen during the recession, mortgage approvals crashed to a record low for April and Britain was officially declared one of the gloomiest nations in the world. What a day!
The manufacturing PMI index fell more sharply [...]