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Drop in borrowing shows austerity plan is working


Figures published today by the Office for national Statistics showed Public Sector net borrowing drop 7% in March compared to the previous year, even undercutting the Office for Budget Responsibility’s estimate


Public Sector borrowing falls, though still 2nd highest since 1945


Public sector borrowing during March 2011 decreased by just under 7% over March 2010, the Office for National Statistics has revealed.


Taxpayer support for banks must end, committee says


There must be an end to the dependence of the banks on taxpayer support,” says Margaret Hodge MP


Mortgage lending jumps 21% in a Month


Gross mortgage lending surged 21% from £9.3 billion in February, renewing hope in the UK’s housing market which in itself serves as a barometer for the wider UK economy


Aligning risk and finance key to improving banks' profitability


To help deliver sustainable growth, and for their own protection, banks and other financial institutions must improve how their finance functions understand and use risk considerations and information


Managing expenses costs small businesses 13 work days a year


Filing, sorting and paying out expenses costs Britain’s 1.2 million small businesses over 13 business days a year, significantly hindering their abilities to operate and grow


1 in 3 chance that US could lose its AAA credit rating


A runaway budget deficit and no apparent policies to address it saw New York based credit rating company, Standard & Poor’s (S&P), downgrade the United States’ short term outlook to negative, from stable


Norwich & Peterborough land £1.4 million fine


Norwich and Peterborough Building Society (N&P) have been landed with a £1.4 million fine for selling Keydata products to 3,200 customers without ‘suitable advice’.


Profits at JPMorgan jump $2.3 billion in a quarter


Financial superpower JPMorgan reported first quarter net income of $5.6 billion, up 67% from the previous year


Sterling drops 0.5% on lower inflation and raised house prices


Currency expert Andy Scott from HiFX discusses the impact lower inflation and rising house prices will likely have on the future of Sterling