Welcome to our weekly round-up of all the biggest financial news stories of the week. It’s a new week, but some old stories are still around, with a few new twists.
£50 billion more QE from the Bank of England
For the 35th month running, the Bank of England’s Monetary Policy Committee voted to keep interest rates at 0.5% and also announced another £50 billion of asset purchasing to its Quantitative Easing programme.
Source: Fundweb
Second Greece Bailout to go ahead
Four days after the original deadline passed, it was confirmed that Greece will receive a second bailout package of £130 billion, following various austerity measures being passed, involving cuts to public spending.
Source: Fundweb
Repossessions fall to four year low
The number of homes being repossessed has fallen to a four year low, according to the Council of Mortgage Lenders (CML). The total number of homes repossessed in 2011 was 36,200 compared to 36,300 in 2010.
Source: Guardian
Record profit for Rolls-Royce
Rolls-Royce announced a record profit of £1.16 billion, with total revenue standing at £11.3 billion. The Derby and Bristol based company says it is ‘confident’ of increased growth in 2012.
Source: Guardian
FSA may block Co-op’s purchase of Lloyds branches
The Daily Mail has reported that there are fears the Financial Services Authority may block the sale of 632 Lloyds branches to the Co-op. Lloyds announced in December 2011 that it had begun talks with the Co-op.
Source: Citywire
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