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The number of homes repossessed in the UK fell by 7.5% in the first three months of 2010, according to lenders. Figures show that the number of homes repossessed dropped from 10,600 in the last three months of 2009 to 9,800 in the first quarter of 2010. UK unemployment rose in February to over 2.5 million- the highest level in more than 15 years. The number of people out of work increased by 43,000 between December and February, according to the Office for National Statistics. The number of “inactive” people in the economy, classed as those who are not working because they are ill, [...] Construction activity grew in March for the first time since 2008 with a resurgence in housebuilding. Despite job cuts across the industry continuing at a sharp rate, a growth in new orders fuelled an upturn in construction activity and fresh optimism among the sector, according to the Chartered Institute of Purchasing and Supply (CIPS). The CIPS/Markit Construction [...] UK unemployment figures published on Wednesday showed that the number of people unemployed in the UK had fallen again, leaving the jobless rate at 7.8%. The Council of Mortgage Lenders (CML) said that unemployment had not been as bad as had been feared. Many workers had proved to be flexible, accepting pay cuts and part-time work. As [...] British unemployment hit 2.47 million in July, its highest level since 1994, as 210,000 more people lost their jobs. The number of people claiming jobseeker’s allowance rose by 24,400 to 1.61 million in August — the highest since May 1997 and the eighteenth monthly rise in a row, according to the Office for National Statistics (ONS). The [...] House prices will not return to the peak reached in autumn 2007 for at least another five years, according to Ernst & Young’s Item Club. The influential group’s gloomy forecast contradicts the increasingly optimistic outlook of the Government and some commentators that the British economy has begun a sustained recovery. The recent rise in property values is [...] Wall Street ticked higher in early trades as the latest report on jobless claims turned out to be better than expected and retail sales improved. The Dow Jones was up 62.13 points at 8,801.15 at midday in New York, the S&P; 500 was up 8.57 at 947.72, and the Nasdaq was up 11.48 at 1,864.56. A Labor [...] The US Government will take a 60 per cent stake in General Motors (GM) as the carmaker files for Chapter 11 bankruptcy protection today, officials of the Obama Administration revealed. President Obama said that the move would stop the company being broken up, as it prepared to make the world’s largest industrial bankruptcy filing. The United Auto [...] The UK’s Quarterly inflation report by the Bank Of England emphasising a slow and uncertain recovery. The inflation report is the first since the introduction of QE in March and the report was eagerly awaited to assess the inflation projections in the UK. Mr King was downbeat in his assessment of the UK economy [...] Kate Barker, the Bank of England Monetary Policy Committee member, was quoted today as saying it was right for banks to be cautious about lending in the face of rising unemployment and housing repossessions. In comments to a panel discussion on April 20, extracts of which were published on the “Mortgage Introducer” industry website, Ms Barker’s [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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