Business Finance Junction – March 2014
by admin | Mar 3, 2014 | Blog, Business, Business Finance Junction, Business Notes, Economy, Finance, Financial Markets, Government, In Business, Monthly Musings, News, Newsletter, Noteworthy News, Small Business Blog |
The banking industry has seen a rise in consumer confidence for two years in a row, according to a new survey of 32,000 banking customers in 43 countries. The study around the world showed confidence increasing most in India, followed by Saudi Arabia, with confidence falling the most in Ireland and Spain.The survey showed 60% of respondents aren’t planning to close or move their accounts, which, according to Ernst & Young highlights that this isn’t necessarily because they are confident that they are with the right provider, with some respondents stating they a change would be too difficult or time consuming.
“Bank customers are not being actively retained; they simply remain with their current provider through inertia and are therefore vulnerable to competitors“.
According to another global study the Arts, Entertainment and Hobbies market sector was 60% more competitive January 2014 compared to January 2013 and Financial Services 60% more so, whilst Sports & Recreation was 121% less competitive in January 2014 compared to 2013 in relation to digital advertising
The three months to February saw a highest level since 1998, in the Confederation of British Industry (CBI) quarterly Service Sector Survey. Optimism indices for consumer services (including hotels, bars, restaurants and leisure) rose to their highest level amongst 139 companies and at the quickest pace since 2005.
The ONS has confirmed the UK economy grew by 0.7% in the Quarter with business investment rising by 2.4% from the previous three-month period and rose 8.5% from a year earlier.
The BBA (British Bankers Association) has said that mortgage lending was 38% higher in January than a year ago and ‘continues to rise compared to a year earlier’. It is widely expected that the Bank of England will raise interest rates by the end of next year, with an inevitable knock-on effect on mortgage rates.
Finally, not certain if this is a record or not but Royal Bank of Scotland has lost all the money invested in it by the taxpayer six years ago with total losses since its bailout now drawn level with the £46bn put in with 81% stake, in 2008 and The Co-op Group’s losses for 2013 are expected to be greater than £2bn, by far the worst in its history.
Image and Article credits: Copyright SUF 2014 ©
