[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

  1. UK Household Wealth Declines Amid Interest Rate Rises
    • Rising interest rates have led to a sharp drop in UK household wealth, with house prices and pension funds taking a hit. Read more
  2. HSBC’s Profits Surge, Boosted by Mortgage Sales
    • HSBC UK reports a 54% increase in pre-tax profit, driven by higher mortgage sales and a favorable interest rate environment. Read more
  3. Late Payment Times Reach Three-Year High for Small Businesses
    • Small businesses are experiencing extended wait times for customer payments, impacting cash flow, especially in the retail sector. Read more
  4. Fuel Poverty Concerns Grow as UK Households Go Without Heating
    • One in four UK social housing households had to forgo heating during the winter to cope with soaring energy bills, raising health concerns. Read more
  5. Insolvencies Predicted to Decrease by 5% in Q3
    • A 5% drop in insolvencies is anticipated for Q3, reflecting improved financial stability in some sectors. Read more
  6. Retailers Suffer Decline in Sales, Education and Training Bounces Back
    • Retailers face a sales decline of -2.4% year-on-year, while the education and training sector rebounds after an 8.6% year-on-year increase earlier in the year.
  7. Asian Rival Standard Chartered Faces Profit Slump
    • Standard Chartered reports an unexpected profit plunge in the third quarter, largely attributed to exposure in China’s real estate and banking sectors. Read more
  8. HSBC UK Witnesses £4 Billion Mortgage Lending Surge in 2023
    • HSBC UK experiences a £4 billion increase in mortgage loans during 2023, fueled by a higher interest rate environment. Read more
  9. Xero’s Small Business Index Reveals Prolonged Payment Delays
    • Xero’s quarterly small business index indicates that small firms are waiting an average of 29.4 days for customer payments, with a delay of 7.7 days in September.
  10. HSBC Cautious About Chinese Real Estate Exposure
    • HSBC remains vigilant about risks associated with its exposure to mainland China’s commercial real estate sector due to ongoing economic uncertainty. Read more
  11. Sharp Rise in Households Living Below Adequate Temperatures
    • The number of UK households experiencing temperatures below 18 degrees Celsius during winter has surged by approximately 240,000 compared to the previous year.
  12. Rising Energy Bills Threaten People’s Health
    • Record-high energy bills are forcing one in four UK social housing households to reduce heating, raising concerns about the health implications.
  13. Abrdn and Resolution Foundation Report Links Wealth Decline to Interest Rates
    • A joint report by Abrdn and the Resolution Foundation attributes the decline in household wealth to interest rate hikes, especially affecting house prices and pension funds.
  14. HSBC’s UK Arm Reports Strong Third-Quarter Performance
    • HSBC UK’s third-quarter pre-tax profit reaches $1.7 billion (£1.4 billion), driven by robust mortgage sales and a favorable interest rate environment. Read more
  15. Positive Impact of Higher Interest Rates on HSBC UK
    • HSBC UK attributes its improved performance to the positive influence of higher interest rates.
  16. UK’s Wealth Boom Ends as Pandemic Impact Persists
    • The Resolution Foundation notes that Britain’s wealth boom has come to an end, largely due to the ongoing pandemic and rising interest rates. Read more
  17. One in Four UK Social Housing Households Faces Fuel Poverty
    • High energy costs lead one in four UK social housing households to sacrifice heating during the winter, raising concerns about fuel poverty. Read more
  18. Fuel Poverty Charities Alarmed by Soaring Energy Bills
    • Fuel poverty charities express alarm at the impact of rocketing energy bills on the well-being of UK households. Read more
See also  LINKS ¦ Headlines and stories of interest – this week

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