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  • Malton flood defences proved to be 'robust'

    November 25, 2013 6:29 AM 12

    A review into serious flooding in parts of North Yorkshire in November 2012 has said flood defences proved "robust". Flooding in Malton, Norton and Old Malton was caused by surface and ground water combined with high river levels. That combination overwhelmed drainage and sewerage systems in the area, the review says. North Yorkshire County council said some properties

  • Northern Ireland house sales on the increase

    November 25, 2013 6:03 AM 26

    House sales in Northern Ireland increased by more than 20% between the second and third quarters of this year, the University of Ulster (UU) has said. The figures were revealed in the latest University of Ulster quarterly house price index. Another report by the Stormont statistics agency, Nisra, put the quarterly rise at 7%. This represents the highest

  • Payday loans: New law to cap interest

    November 25, 2013 6:01 AM 19

    The level of the cap, which has not yet been announced, will be decided by the new regulator, the Financial Conduct Authority (FCA). The Treasury says there is "growing evidence" in support of the move, including the effects of a cap already in place in Australia. The cap will be included in the Banking Reform Bill, which is already going through Parliament

  • Student debt puts families £8,200 in the red

    November 25, 2013 3:09 AM 23

    The rising cost of student borrowing meant that households sank further into debt this year for the first time since the financial crisis, a report has found. Households’ non-mortgage debt grew by 4 per cent in 2013 to £216 billion, marking the first increase for five years and taking the average sum families owe to £8,159, according to PwC’s Precious

  • UK manufacturers regain appetite for borrowing, costs rise - survey

    November 25, 2013 12:42 AM 21

    LONDON (Reuters) - British manufacturers are increasingly seeking to borrow as they try to grow on the back of the economic recovery but the cost of credit is rising, a survey showed on Monday. In a sign that a long-awaited pickup in British business investment could be taking shape, the share of firms with no need to borrow fell to 40 percent, its lowest

  • Lloyds to sell up to half TSB stake at IPO: newspaper

    November 24, 2013 12:15 PM 17

    LONDON (Reuters) - Britain's Lloyds Banking Group (LLOY.L) will probably sell 30 to 50 percent of its stake in the 631 bank branches being rebranded as TSB when the new entity floats on the stock market in 2014, a newspaper reported. TSB's Chief Executive Peter Pester told Britain's Sunday Telegraph that TSB will begin its roadshow relatively soon, with the listing

  • Prestwick Airport sold to Scottish government for £1

    November 23, 2013 10:42 AM 20

    Prestwick Airport has passed into public ownership after being bought by the Scottish government for £1. The facility, which was put up for sale last year by New Zealand firm Infratil, has incurred annual losses of £2m. It is understood a deal was concluded late on Friday. It is expected the airport will continue to operate as normal and there will be no job losses

  • Didcot power station transformer move postponed

    November 22, 2013 4:04 PM 35

    The movement of a large transformer from a power station in Oxfordshire to Bristol has been postponed. The 637-tonne load, measuring 294ft (89m) long, was due to be transported by police escort later from Didcot power station to Avonmouth Docks. Operator Npower say a problem with the transporter lorry means the load will now be moved next weekend

  • James Murdoch Re-Elected to BSkyB Board

    November 22, 2013 3:25 PM 51

    Chase Carey, president of 21st Century Fox, which owns a 39 percent stake in the U.K. pay TV giant, is also among the directors retaining their board seats. LONDON – 21st Century Fox deputy COO James Murdoch is keeping his seat on the board of U.K. satellite giant BSkyB after being re-elected at the company's annual shareholder meeting on Friday in Edinburgh

  • BoE's Dale says lack of trust in banks holding back recovery

    November 22, 2013 1:29 PM 28

    LONDON (Reuters) - British businesses' lack of confidence in banks since the financial crisis is holding back economic recovery, the Bank of England's chief economist Spencer Dale said on Friday. In an interview with BBC local radio in Merseyside, northwest England, Dale said many firms felt unable to rely on banks after they were unable to access credit