The UK housing market is showing signs of overheating and fears of a new housing bubble continue to grow.
In the 1980s the transaction which hit the headlines was the sale of a Chelsea airing cupboard for £50,000. Now it is the sale of a garage in Camberwell, London, for over £½ million.
A major report into the events which almost caused the failure of the Co-operative Bank last year is expected to blame poor governance.
The draft report by Sir Christopher Kelly is due to be published next week and has been described by the BBC’s business editor who has seen it as ‘scathing.’
The Co-operative Group has had a ‘disastrous year’ after announcing the biggest losses in its 150 year history.
The group lost £2.5 billion in 2013, most of which it claims stemmed from the Co-operative Bank which itself announced it had lost £1.3 million in the same timescale.
A food bank charity has handed out almost a million food parcels to needy families in the last year.
But that’s not the full picture of hunger in the UK today, say the Trussell Trust, because it doesn’t include people who are too ashamed to use food banks and others who are cutting down the size of meals.
The rate at which UK house prices are rising is still accelerating, according to the Office for National Statistics (ONS).
Prices across the UK rose by 9.1% in the year to February 2014, up from just 6.8% in January.
High housing costs and stagnating wages means 3.8 million families in the UK are living on a financial knife-edge says the housing charity, Shelter.
They would not have enough money to pay their rent or mortgage for a month if they come out of work because they have no savings.
The Co-op seems to be reeling from one crisis to the next with problems and bad news assailing it from all sides.
But where did it all go wrong? And what of the future?
The Co-op Bank has apologised to its customers and stakeholders for running up losses of £1.3 billion in 2013.
Announcing their annual figures the bank also admitted they don’t expect to make any profit in either 2014 or 2015.
Barclays have reached an out of court settlement with a UK care home over an interest rate swap claim and avoided a court appearance by their former chief executive, Bob Diamond.
The settlement means Mr Diamond and two other top Barclays executives – Jerry del Missier and Rich Ricci – will not have to appear as witnesses in a hearing scheduled for later this month.
The Treasury has assured mortgage lenders that they already have an exit strategy in place for the end of the second phase of Help To Buy.
The industry has been expressing concerns for some time that mortgage finances could fall over a cliff edge when the government scheme ends in 2017