Business

House costs fell by 5.3% within the 12 months to August - a bigger-than-expected drop, in line with Nationwide.This means the everyday house is now price £14,600 lower than 12 months in the past - with a median property worth of £259,153. Nationwide's chief economist, Robert Gardner, says the softening is "not surprising" - with rate of interest hikes by the Bank of England sending mortgage funds increased.Activity within the housing market is at the moment working effectively beneath pre-pandemic ranges - with mortgage approvals about 20% beneath the 2019 common in latest months.But Mr Gardner struck an upbeat observe after Nationwide's newest House Price Index was launched - and stated "a relatively soft landing is still achievable." He added: "In particular, unemployment i...

Rail strikes are set to convey massive components of the UK's community to a grinding halt at this time when union members walk-out of their long-running dispute over pay.The 24-hour walkout by members of the practice drivers' union Aslef will probably be adopted on Saturday by an extra time ban. Up to twenty,000 members of the Rail, Maritime and Transport Union (RMT) at 14 operators may even stroll out on Saturday, in their very own dispute over pay, jobs and situations.The strikes are set to trigger main disruption on the nation's rail community throughout the weekend - the final of the college summer time holidays.Today, there will probably be no companies from operators, together with Northern, Avanti West Coast, TransPennine, Southern and Thameslink. Fewer than half of t...

SACRAMENTO, Calif. — California Gov. Gavin Newsom has formidable and costly plans for a dilapidated manufacturing unit at San Quentin State Prison the place inmates of one of many nation’s most infamous lockups as soon as constructed furnishings, and lawmakers have given him the greenlight to start out with little enter or oversight. ...

WASHINGTON — The White House stated Thursday that Congress ought to cross a short-term funding measure to make sure the federal government retains working after the present funds yr ends Sept. 30. ...

WASHINGTON — The Biden administration is proposing a rule that might require hundreds extra firearms sellers to run background checks, in an effort to fight rising gun violence nationwide. ...

The power regulator has lifted most compensation cost ranges obtainable to households and companies from storm-related energy cuts.Ofgem stated they may now declare as much as £2,000, from the present £700, following its overview of the response to Storm Arwen by distribution community operators (DNOs) in 2021. These companies are the six corporations answerable for linking up properties to Britain's electrical energy community.In November 2021, a million houses had been left with out energy - with 1000's nonetheless ready to be reconnected 10 days later - when heavy rain and winds, of just about 100mph at their peak, slammed into the nation.The watchdog later complained that some affected prospects had been left with out electrical energy for an unacceptable period of time, ...

The Biden administration revealed Thursday it would make out there greater than $15 billion for automakers to retrofit present manufacturing crops for gas-powered automobiles to as a substitute make vehicles and vehicles that run on electrical. ...

CONCORD, N.H. — A former state senator was accused Wednesday of mendacity with the intention to get a COVID-19 aid mortgage for his on line casino and utilizing the cash to purchase luxurious automobiles for himself and his spouse, a Republican chief within the New Hampshire House. ...

Swiss banking large UBS has reported a report pre-tax revenue of $29bn (£22.8bn) within the newest quarter following its takeover of Credit Suisse.The Zurich-based financial institution stated its bumper earnings within the three months to June have been largely right down to the belongings it acquired from its collapsed rival, which it purchased for a reduced worth of $3.2bn (£2.5bn) earlier this yr. UBS confirmed it might absolutely take up Credit Suisse's home financial institution and stated full integration of the 2 was the "best outcome for UBS, our stakeholders and the Swiss economy".But it additionally warned 3,000 job losses have been deliberate in Switzerland over the following few years on account of the merger because it seeks to chop prices by $10bn (£7.9bn).CEO ...

TOKYO — The U.S. ambassador to Japan visited a metropolis in Fukushima on Thursday and had a seafood lunch with the mayor, talked to fishermen and stocked up on native produce to point out they're secure after the discharge of handled radioactive wastewater from the wrecked Fukushima nuclear plant into the ocean, backing Japan whereas criticizing China’s ban on Japanese seafood as political. ...