The banks of United Kingdom will shut their retail financial services to their customers. This decision has been taken by the Barclays Plc, as they face higher cost for providing these services to their customers. These reports are claimed by the Financial Times.
This will be the end of going to the bank for financial help. The banks will end their retail financial advice services from the next week. All the high street banks are likely to follow Barclays Bank.
The snowy weather could not do much harm to the festive spirits of the people. The pubs Marston’s, Fuller and Smith did a good business during the festive seasons.
The pub owner of Marston claimed that his chain of 485 pubs managed to be up 2.1 percent in the 16 weeks upto January 22, and the food sales are up by 4.4 percent.
The worst cold climate failed to stop the people from enjoying themselves. Over the entire Christmas period, the underlying sales were up by 11.2 percent.
The staff of Wrexham and Shropshire broke down in tears as they prepare to leave on their company’s last train service from London back to the country.
It was all very emotional for the staff of this company. The train arrived in Shropshire at exactly 10pm. According to a source it was revealed that 2,700 hundred worker have signed a petition for saving the county’s first direct rail to London.
The Wrexham and Shropshire announced its closing this week after it has nearly suffered a loss of £3 million last year.
The Office of Fair Trading (OFT) has claimed that over 35 debt management companies have reportedly surrendered their consumer credit licenses. Besides, over 15 are reported to be besieged by licensing action.
It is reported that the regulatory body has recently conducted an implicit review of the sector, extending warnings to over 129 firms, which were given until mid-December to provide evidence of compliance. The review found that frontline debt advisers linked to debt management firmed were lower on the competence barometer.
UK is in an urgent need to gradually seek to secure a consistent economic growth from financially poised situation; George Osborne was quoted as saying.
The chancellor's plan to achieve by sticking on to debt reduction, curbing corporate tax rates, and reforms to the health and education sectors. In addition, Osborne has urged firms to spend their cash reserves in a bid to boost the economic conditions.
Mr Osborne also told Davos delegates he was unhappy with UK GDP figures this week which showed a 0.5% contraction in the last quarter of 2010.
Following Egyptian President Hosni Mubarak’s step to suspend his Cabinet, dropping calls to end his 30-year rule, a huge mob of demonstrators gathered on the roads of Cairo. Besides, other cites also witnessed huge revolt.
Mr. Mubarak's Cabinet is reported to have officially resigned, claimed Egyptian state television on Saturday.
In addition to form a new Cabinet, new political and economic reforms will be enforced in a view to tranquilize the revolt launched by tens of thousands of protesters, Mr. Mubarak posted in a televised speech late Friday.