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The latest industry news and updates
The US indices were down across the board overnight on continues worries that a resolution cannot be found for the Eurozone debt crisis and the heavy debt burden carried by the USA. The Dow Jones lost 249 points (2.11%), the NASDAQ was down 49 points (1.92%) and the S&P slid 23 points (1.86%).
The FTSE is trading down more than 100 points (2.2%) on morning trading on continuing worries over the Eurozone debt crisis and the failure of US lawmakers to agree on deficit cutting measures, this is a six week low according to a report by Citywire.
The Institute of Financial Planning (IFP) have conducted a survey of 2,000 people with YouGov to look at the public’s savings habits. The survey had some startling results which included: 14% of people have never made any pension contributions and 31% are not contributing to a pension at this time. Additionally 10% of people feel they will never be able to retire. These figures highlight the problems in the pension and retirement environment we see today.
The Government could launch a new mortgage scheme today that would allow first-time buyers who purchase newly built properties to borrow up to 95% of the value of the house, currently the deposit for a new home can be as much as 20%.
David Cameron and Angela Merkel have given assurances that Britain and Germany will work together despite their difference on the Eurozone crisis, according to a report by Sky News. Both leaders were attending talking in Berlin after violence broken out in Greece and Italy this week over the increased austerity measures.
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