Interest rates hope for homeowners

HOMEOWNERS were given a glimmer of hope that interest rates may not rise to 6% in the immediate future.

HOMEOWNERS were given a glimmer of hope that interest rates may not rise to 6% in the immediate future.

Minutes, from the last meeting of the Monetary Policy Committee, said most members “had no firm view on whether rates would need to rise further”.

BUSINESS leaders in the region welcomed the awarding of the East Coast mainline rail franchise.

But at the same time passenger watchdogs raised concerns about fare prices, as National Express beat off the challenge of three other bidders to run the East Coast Main Line (ECML) franchise, which it will take over from GNER in December.

ONE of the most famous names in British industry fell into foreign hands after Dulux paint maker ICI agreed an £8bn takeover offer from Dutch rival Akzo Nobel.

ICI’s recommendation of the 670p a share offer followed a two-month pursuit by Akzo, best known in the UK for its Crown Paints brand.

BUILDER Rok announced profits had soared by three quarters in the first half of the year.

The company, which has North-east offices in Stockton and Newcastle, said pre-tax profits climbed 75% to £11.2m in the six months ending June 30.

TATA Steel stressed it had factored the possibility of volatile economic markets when putting together a £6.2bn bid for Corus, after a report in the Financial Times claimed bankers were likely to change the terms on a £3.6bn refinancing package for the Anglo-Dutch steelmaker, which employs 2,700 on Teesside.

Journalists

David Whetstone
Culture Editor
Graeme Whitfield
Business Editor
Mark Douglas
Newcastle United Editor
Stuart Rayner
Sports Writer