Financial News Round Up for the 7th October 2011

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Published Friday, October 7th 2011

Week ending 7th October 2011

It’s been another week dominated by the financial markets’ volatility. The FTSE100 dropped below the 5,000 floor and then rallied again following news from Europe. Nerves are still on edge about Greece and a possible default, and here at home in the UK, the Bank of England announced further Quantitative Easing – a larger than expected £75billion.

• FTSE100 heads downwards towards 5000

Following fears of Greece missing its deficit target, the FTSE100 hovered around the 5000 mark at the start of the week, following small gains at the end of last week.

Source: City Wire

 

• ‘Gadget addiction’ means rising emissions and energy bills

A new report from the Energy Saving Trust, an independent organisation that reports on carbon emissions and ways to save energy, claims that the UK’s addiction to gadgets means energy bills and emissions are still rising.

Source: Guardian

 

• UK’s ‘AAA’ credit rating confirmed by Standard & Poor’s

The credit rating agency, Standard and Poor’s, confirmed that the UK’s ‘AAA’ credit rating will stand, making the UK only one of 18 countries to retain that with a ‘stable’ outlook.

Source: City Wire

 

• ‘No tax cuts’ says Osborne

Chancellor George Osborne told the Conservative party conference in Manchester that there will be no tax cuts at present.

Source: City Wire

 

• Post Office launches inflation beating savings bonds

The Post Office has launched a 3rd issue of its popular inflation beatings savings bonds. They are available to customers until January 2012. The Post Office is offering a 3 year or 5 year bond, which will offer interest at the RPI inflation plus an additional percentage.

Source: IFA Online

 

• David Cameron tells households to pay off debts

With his keynote speech at the Conservative party conference in Manchester, David Cameron urged Britain’s households to pay off their debts, including credit card and store card bills.

Source: Guardian

 

• £75billion of further Quantitative Easing announced by Bank of England

The Bank of England has increased its Quantitative Easing programme by putting a further £75 billion into the economy.

Source: Guardian

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