The latest inflation data from the Office of National Statistics (ONS) has revealed the rate of price rises quickened in July for the first time this year. The ONS recorded that its headline measure of inflation, the Consumer Price Index, rose by 2.2% in the 12 months to the July 2024, up from … [Read more...]
News for: Finance
Greater Manchester seeks to extend investment fund that has supported over 360 new homes in Stockport
Greater Manchester Combined Authority (GMCA) will look to extend the Greater Manchester Housing Investment Loans fund (GM HILF), which has supported delivery of over 10,000 new homes across the city-region. In Stockport, GM HILF has supported delivery of over 360 new homes in the borough. … [Read more...]
Chancellor calls for UK pension funds to invest more in infrastructure
Chancellor of the Exchequer, Rachel Reeves, seeks to boost investment in UK infrastructure from British pension funds in a bid to support growth. Reeves has called on UK pension funds to learn from the successes of Canadian counterparts in investing in the UK, and has met with the 'Maple 8' group … [Read more...]
Cheadle lender supports restaurant conversion for former Liverpool Bank of England building
Cheadle specialist property lender Together has provided a bridging loan to support the conversion the former Bank of England building in Liverpool into a restaurant. The lender, alongside Watts Commercial Finance, have provided nearly £1.7 million in financing for investor, JSM Property Group, … [Read more...]
Bank of England cuts interest rates for first time since March 2020
Economists at the Bank of England have voted in favour of cutting its base rate to 5%, the first cut in interest rates since March 2020. The Monetary Policy Committee voted 5-4 in favour of the 0.25 percentage point cut in interest rates. The decision follows interest rates having been held at … [Read more...]
Chancellor announces plans to address unfunded spending following Treasury audit
Chancellor of the Exchequer, Rachel Reeves, has announced the need to address unfunded spending commitments of £22 billion revealed to have been made by the previous government in a Treasury audit. Addressing the House of Commons on 29th July, Rachel Reeves outlined that a number of financial … [Read more...]
Handelsbanken survey reveals Brits’ financial regrets
Independent research conducted for Handelsbanken Wealth & Asset Management has revealed what Brits see as their biggest financial regrets and accomplishments. Over a third (36%) of UK adults cite not saving consistently from a young age as their biggest financial regret, reveals the survey, … [Read more...]
Cheadle lender backs new HQ in disused bank for property developer
Cheadle based lender specialist lender, Together, has supported Abode Residencies to bring a disused bank back into use as the property developer's new HQ. The Cheshire-based student accommodation specialised has purchased the former Barclays Bank building in Alderley Edge for £1.4 million, … [Read more...]
North West profit warnings down of previous year’s figures
UK-listed companies in the North West have issued 21% fewer profit warnings in the first six months of 2024 than in the same period last year, according to EY-Parthenon's latest Profit Warnings report. A total of 11 warnings were issued by businesses in the region in the six months to the end of … [Read more...]
Inflation remains at 2% for second month
Inflation in the UK has remained at 2% for the second consecutive month in June 2024 according to new figures published by the Office of National Statistics (ONS). The ONS' headline Consumer Price Index (CPI) remained unchanged on the previous month, with inflation holding at the Bank of … [Read more...]
First North West deal completes following launch of second Northern Powerhouse Investment Fund
The second £660 million Northern Powerhouse Investment Fund (NPIF II) has completed its first deal in the North West since it launched in March this year. The first recipient of financing from NPIF II in the region is Liverpool-based BioGrad Education, a specialist laboratory education provider. … [Read more...]
Prospect of interest rate cuts drives optimism among property investors, finds Handelsbanken
Property investors are cautiously optimistic and focusing on the prospect of interest rate cuts ahead of UK and global political issues, according to a new study by Handelsbanken. The relationship bank's 2024 Property Investor Report, based on exclusive insights from UK property investors with an … [Read more...]
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