A burst of sunshine in May brought hitherto reluctant shoppers out in force, causing the biggest one-month jump in retail sales since records began in 1986.
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“Peculiar to the circumstances” was the phrase Chancellor Darling used of the Shell tanker drivers’ double-digit pay deal when he went on the BBC’s Today programme on Wednesday to urge everyone else to tread lightly with their wage claims.
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The top jobs at the Bank of England are to be advertised in future as well as vacancies for outsiders on the Bank’s interest-setting monetary policy committee.
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Britain’s industrialists remain overwhelmingly confident that they will be able to pass on to their customers the fast-rising prices they face for energy and raw materials.
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The CBI is challenging the City’s view that the Bank of England will have to raise interest rates later this year to contain inflation and predicts that fast-falling inflation will enable the Bank of England to start cutting the cost of borrowing next year.
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Mortgage lenders, housebuilders and estate agents have agreed new rules intended to stamp out a scam where buyers of newly built homes have obtained mortgages based on far bigger prices than they actually pay.
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A 'backstop' like The Bank of England's special liquidity scheme, set up to make up to £100 billion available to banks could become a permanent feature of British banking.
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For more than a decade we have lived in a world where house prices rose relentlessly, while the prices of everything else did nothing much. Now the opposite is happening.
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In 1992, I think it was, when the housing market was in a far worse mess than today, a gentleman was discovered living rather grandly in the kind of pad that would nowadays belong to a Russian oligarch, while humbler taxpayers were paying the interest on his £1 million mortgage.
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Horror of horrors. Imagine the agony, the recriminations, the ruined reputations, if Bradford & Bingley had stuck to its guns and pressed ahead with its rights issue at 83p, the price it originally thought of, and watched as its existing shares sank beneath it.
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If you have the misfortune to own shares in The Royal Bank of Scotland, today you have the opportunity to win back a little cash as a consolation for the prospect of getting none for this year's interim dividend.
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Chancellor Alistair Darling has been urged to abandon the Bank of England's two per cent inflation target after official numbers showed rocketing gas and electricity bills drove the cost of living ahead three per cent over the 12 months to April, up from a seemingly reassuring 2.5 in February and March.
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