Stamp duty choking housing market, say campaigners

HomeOwners Alliance says government’s stated policy of encouraging home ownership being undermined by dutyThe UK housing market is being choked by stamp duty, which has risen by more than seven times the rate of inflation since the mid-1990s, taking the typical tax bill faced by buyers to almost £6,000, a report by a homeowners’ campaigning […]
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Property price rises stoke fears of a new housing bubble

House prices grew by 0.4% in May – the faster at any time in the past six years – figures from Hometrack showFears that George Osborne, the chancellor, is stoking a new housing bubble through plans to boost mortgages may be exacerbated by figures showing house prices grew faster in May than at any time […]
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Doomsayers warn of approaching bear market

As share prices soar and plunge, some analysts claim that a coming crash will be the worst for 80 yearsAs share prices soared across the globe this week – before crashing down in Tokyo – one group of doomsayers consistently stuck to their message: the market boom is on shallow foundations and the crash will […]
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Markets rally as Ben Bernanke backs further quantitative easing

Federal Reserve chief makes clear he has no intention of cutting short $85bn-a-month stimulus programme in near futureGlobal markets continued their rally on Wednesday as Ben Bernanke, chairman of the US Federal Reserve, made clear he had no intention of cutting short his $85bn-a-month (£56bn) quantitative easing programme in the near future.The US economy was […]
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Fed chairman Ben Bernanke: stimulus programme not creating ‘bubbles’

Stock markets rise after Federal Reserve head tells Congress quantitive easing to continue and criticises government cutsFederal Reserve chairman Ben Bernanke denied his $85bn-a-month stimulus programme was creating new financial bubbles as he updated Congress on his views on the US economic recovery on Wednesday.The Federal Reserve’s quantitative easing programme has helped drive US stock […]
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Derivatives trader: ‘Trading can take over your life – but only if you let it’ | Joris Luyendijk

A migrant derivatives trader working in London talks of how he trades on volatility to buy himself financial security• This monologue is part of a series in which people across the financial sector speak to Joris Luyendijk about their working livesHe describes himself as “a third-world migrant in his early 20s from near the equator”. […]
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FTSE 100 within sight of all-time high

Index closes at 6803.87 – just 130 points below peak reached on 30 December 1999 at height of the dotcom boomThe London stock market is within sight of its all-time closing high after another surge in share prices on Tuesday.After drifting for much of the day, the FTSE 100 index of Britain’s top companies made […]
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Petrol price rigging inquiry contacts oil traders

Glencore and Vitol among those receiving ‘request for information’ as part of cross-border investigationGlencore and other big oil trading companies have been asked to provide information to the cross-border investigation into alleged petrol price rigging. There is no suggestion that these companies are being investigated.European commission officials have asked the trading houses to answer questions […]
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Average London house price rockets past £500,000

Price rise stokes fears of a new house price bubble being fuelled by cheap mortgages and coalition schemes to revive marketNew figures showing that the average asking price for a home in London has risen to more than £500,000 for the first time could add to fears of a new house price bubble being fuelled […]
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FCA to collect mortgage borrowers’ personal data

Regulator’s proposals could spark privacy row and may have data protection and human rights implicationsThe personal financial information of millions of people – including how much they earn and whether they have fallen behind on any payments – is to be “collected and processed” by the UK’s main financial watchdog as part of its attempts […]
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