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Manufacturers expect a slowdown
UK manufacturing will slow sharply over the next few months in the face of falling demand and rising material prices, according to a survey by the CBI and credit rating agency Experian. The survey revealed that average unit costs rose at the fastest pace since 1988 in the past three months, while manufacturers in seven regions – including London and the West Midlands – saw a decline in ord... more

Estate agents ‘ignoring HIPs’
Estate agents in England and Wales are ignoring the requirement for every home for sale in the UK to have a home information pack (HIP), according to research by the BBC. The organisation reports that the Law Society believes HIPs are often not produced for weeks after a property has gone on the market, with sellers reluctant to meet the costs in the current economic climate and housing market... more

Plans to tackle tipping abuse
Businesses will be banned from using staff tips to bring wages up to the minimum wage under new plans announced by the government. The move, which is aimed primarily at those in the service sector and restaurants in particular, is likely to come into force next year. ... more

Low point for new mortgages
The number of new mortgages has fallen to its lowest level since the current system of recording data began in 1999, figures from the Bank of England show. The amount of loans approved in June slipped to 36,000 from 41,000 in May, with the increase in total mortgage lending lower than expected at £3.1bn. ... more

Record fall in house prices
House prices in the UK fell by 8.1% over the 12 months to July, according to figures released by Nationwide. The building society said the annual fall was the largest it had ever recorded since it started the survey in 1991, and that house prices dropped by 1.7% in July alone. ... more

Court threat over unequal pay
Companies that actively discriminate against women in pay schemes could be challenged in court after a legal victory for two sets of female public sector workers. The Court of Appeal found in favour of the groups of school cleaners and crossing patrol staff working for two councils in the north-east – Redcar and Cleveland, and Middlesbrough – who could now receive compensation of up to £2... more

Ryanair warning over profits
Budget airline Ryanair has said it could lose up to £47.4m this year due to the impact of rising fuel prices. The low-cost carrier said net profit had fallen by 85% in the three months to the end of June, but despite this it added it would carry on reducing fares and had no plans to introduce a fuel surcharge. ... more

Bleak assessment from IMF
The global credit crunch is still going strong and shows little sign of easing up, the International Monetary Fund (IMF) has warned. The organisation said that banks were being particularly hard hit and their reluctance to lend was worsening the situation. ... more

Phishing fraud rises 180%
The level of internet fraud aimed at getting people to part with confidential bank account details has increased by 180% in the past 12 months, according to the banking body Apacs. The organisation revealed there were 21,000 cases of ‘phishing’ fraud in the first six months of 2008, although it added that overall this year cases may fall as people became more aware of the fraud. ... more

Property prices ‘to rise 25%’
Property prices will rise by 25% over the next five years, the National Housing Federation has predicted. Despite the global economic slowdown and the impact on the housing market in the UK, the social housing organisations predicted demand for housing would once again exceed supply once financial institutions are willing to lend money again. ... more


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