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Tag: Nationwide

House price growth slowest for almost six years, says Nationwide

House price growth slowest for almost six years, says Nationwide

Business
UK house prices grew at an annual pace of 0.5% in December, the Nationwide building society has said, the slowest annual rate since February 2013.The lender says uncertainty over the economic outlook appears to be undermining confidence in the market.London and surrounding areas saw a small fall in house prices in 2018.Northern Ireland saw the biggest house price rises, up 5.8%. Prices in Wales climbed 4%, in Scotland they were up 0.9% and in England they rose 0.7%.December's growth rate, based on its own mortgage data, was a marked slowdown from the annual pace of 1.9% recorded by the Nationwide in November. The Nationwide's chief economist, Robert Gardner, told the BBC the severity of the slowdown was unexpected: "It is a little bit surprising that house price growth has slowed as much ...
Unions threaten nationwide strike on Dec 26 to protest merger of banks

Unions threaten nationwide strike on Dec 26 to protest merger of banks

Finance
Bank unions Saturday called for a nationwide strike on December 26 to protest the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank. The government had in September approved the merger of the three public sector lenders. The strike will be organised by the United Forum of Bank Unions (UFBU), an umbrella body of nine employee and officer unions. The government and the concerned banks were moving ahead with their decision for amalgamation and hence it was decided to give the call for strike, All India Bank Employees Association General Secretary C H Venkatachalam said. All unions under UFBU will participate in this strike call, said Ashwani Rana, vice president of the National Organization of Bank Workers. Following the government nod, the respective boards of these banks gave the...
India Post Payments Bank will begin nationwide rollout in April

India Post Payments Bank will begin nationwide rollout in April

Finance
India Post Payments Bank will begin its nationwide rollout in April, the government said on Saturday, refuting reports of revised or delayed timelines. "India Post Payments Bank (IPPB) Expansion Programme continues to make brisk progress and a nation-wide roll-out is scheduled beginning April 2018. No decision has been taken to revise the timelines as reported in some sections of the media," the government said in statement. "Once the proposed expansion is completed, IPPB will be providing the largest financial inclusion network in the country, covering both urban as well as rural hinterland with ability to provide digital payment services at the doorstep with the help of Postmen and Gramin Dak Sewaks (GDS)," the statement added. IPPB will also enable more than 17 crore active accoun...
Deadly nationwide flu outbreak shows no sign of easing

Deadly nationwide flu outbreak shows no sign of easing

Health
A nationwide flu outbreak is showing no sign of easing up as at least four more deaths have been reported in the past few days, including three children. The U.S. Centers for Disease Control in Atlanta said 14,676 people have been hospitalized with influenza since the flu season began in October, double the number from all of last year and the highest ever recorded. In New York City, health officials confirmed Tuesday that two children had died. One was identified as 8-year-old Amely Baez of Queens, who died Monday shortly after she was rushed to a hospital with flu symptoms, health officials said. Dr. Mary Bassett, the New York City health commissioner, said 6.5 percent of all patients seen at hospitals in the city in the past few days were for flu-related symptoms. "That's the highe...
Nationwide warns of tough times for consumers

Nationwide warns of tough times for consumers

Business
Britain's biggest building society Nationwide has reported a fall in first-half profits and warned it could face tougher trading in coming months amid the squeeze on consumers.Pre-tax profits for the six months to the end of September fell 10% to £628m, though the lender said earnings would have increased but for one-off gains reported in the same period last year.Nationwide said it was expecting the UK economy to continue to grow, though at a slower rate "due to the uncertainties around Brexit".Chief executive Joe Garner said: "The second half may bring tougher trading conditions, but we remain well placed to stand by our members in these uncertain times."The building society reported that gross mortgage lending fell by 5% to £16.7bn while impairment losses - a charge related to debts tha