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Oury Clark Ind. Financial Advaice Blog & Oury Clark News Feeds

House prices fall unexpectedly

LONDON (Reuters) - House prices unexpectedly fell for the second month in a row in January, due to the prospect of greater unemployment and buyers' problems finding large enough mortgage deposits, data from lender Nationwide showed on Wednesday.

UK consumers pay billions in fund dealing costs

LONDON (Reuters) - The funds industry is imposing 18.5 billion pounds of hidden costs on investors every year through dealing charges that are obscured by cryptic fee structures and "convoluted language", new research on financial consumers has found.

Energy firms' accounting practices cleared

LONDON (Reuters) - A forensic review of UK energy company accounting practices has found no evidence of financial irregularities aimed at justifying steep rises in retail gas and electricity bills last year, regulator Ofgem, which commissioned the study, said.

Nervy UK fund managers start cautious return to stocks

LONDON (Reuters) - British fund managers began to return to stocks in January, cutting cash, despite worries about the damage Europe's still-unresolved debt crisis might yet inflict on markets, according to a Reuters poll.

Record drop in consumer credit

LONDON (Reuters) - Credit card and other unsecured lending to British consumers posted its sharpest drop in nearly two decades in December, supporting expectations that the Bank of England will soon inject more cash into the economy to prevent a deep recession.

Irish consumer sentiment rebounds as euro fears ease

DUBLIN (Reuters) - Irish consumer sentiment rebounded sharply in January from its largest fall in a decade as New Year's sales buoyed consumers who appeared less worried about the euro zone crisis, a survey showed on Tuesday.

Water bills to rise 5.7 percent in 2012

LONDON (Reuters) - The average household water and sewerage bill in England and Wales will rise by 5.7 percent in 2012 as water companies gear up to invest as much as 22 billion pounds over the next five years, industry regulator Ofwat said on Tuesday.

Consumer confidence rises to 7-month peak

LONDON (Reuters) - British consumer morale climbed to its highest in more than half a year in January, as lower energy costs and retailer discounts provided hard-pressed consumers with some relief, at least for now, researchers GfK NOP said on Tuesday.

Lib Dems aim to speed up tax breaks for low paid

LONDON (Reuters) - The Liberal Democrats called for the government on Thursday to accelerate plans to exempt more low-paid workers from paying income tax, hoping to fund the move by taxing expensive homes and clamping down on tax evasion.

Government seeks Supreme Court appeal on solar cuts

LONDON (Reuters) - The government said on Thursday it is seeking permission to appeal to the Supreme Court to overturn a High Court ruling that the timing of its decision to cut subsidies for solar panels on homes was unlawful.

Court rejects government appeal on early solar subsidy cut

LONDON (Reuters) - The government on Wednesday lost a bid to overturn a High Court ruling that the timing of its decision to cut subsidies for solar panels on homes was unlawful.

UK economy heads for recession

LONDON (Reuters) - Britain's economy may have entered a mild recession in the last three months of 2011, hampering the government's core policy aim of spurring growth and raising the chances that the Bank of England will inject more cash soon.

Government loses bid to overturn solar panels judgement

LONDON (Reuters) - The government has lost its bid to overturn a High Court ruling that its plans to cut subsidies for solar panels on homes are unlawful.

Inflation expectations slump

LONDON (Reuters) - British public inflation expectations for the next 12 months slumped in January to their lowest level since April 2010, a monthly survey from polling company YouGov showed on Tuesday.

World needs 600 million new jobs in next decade

GENEVA (Reuters) - The International Labour Organization sounded the alarm on the global jobs situation in its annual report on Monday and called for more coordination of fiscal policies, repair and regulation of the financial sector and support for the real economy.

Shareholders to get vote on executive pay

LONDON (Reuters) - Shareholders should be given a binding vote over how large British companies manage executive pay and more companies should be able to claw back cash from highly-paid staff who fail to deliver, Business Secretary Vince Cable said on Monday.

UK dividends hit record high in 2011

LONDON (Reuters) - British companies handed out record dividends in 2011 and will pay 11 percent more this year, with mobile phone group Vodafone expected to deliver the most generous payout.

Britain's economy in mild recession - Reuters poll

LONDON (Reuters) - The British economy is languishing in a mild recession but will return to modest growth by April-June as the Bank of England maintains its ultra-loose monetary policy and the euro zone muddles through its debt crisis, a Reuters poll found.

Government to curb cash bonuses at state-backed banks

LONDON (Reuters) - Bonuses in Britain's financial services sector have "got out of control" in recent years, Prime Minister David Cameron said on Thursday, adding cash payments at state-backed banks would again be limited to 2,000 pounds.

Government to limit cash bonuses at state-backed banks

LONDON (Reuters) - Workers at state-backed banks RBS and Lloyds will get maximum cash bonuses of 2,000 pounds this year, Prime Minister David Cameron said on Thursday.