The dream of acquiring your home is often restricted by financial limitations for most people. However, the 2013 Budget gives a ray of hope to those who are aspiring to buy their own home by introducing the  ‘20% loan’ clause. The key feature of the clause is that the 20% loan will be repaid by the borrower upon sale of the property till the home has a market value less…

GlaxoSmithKline (GSK) is facing market abuse allegations by the consumer watchdog, Office of Fair Trading (OFT). GSK has responded to the accusations by saying that it acted within the boundaries of law. The GSK market abuse allegations, levelled by OFT, consist of claims that the pharmaceutical behemoth shelled out cash to its competitors to postpone their release of their own editions of GSK’s Seroxat treatment. The OFT allegations of market…

Insurer Aviva has announced 2000 global jobs on Thursday as part of its ongoing endeavour to cut costs. The Aviva job cuts announcement involved sacking of nearly 2000 employees across its branches in Asia, the European continent and Britain in the next six months. Aviva has said that the decision to cut jobs is being publicised in advance to satisfy Aviva’s promise to its employees and unions to inform them…

Marks & Spencer’s ‘knicker queen’ Janie Schaffer has quit barely three months after taking over as the head of lingerie and beauty, as the retailer suffers yet another setback in its attempt to restore the ailing business. Janie Schaffer joined M&S in January from luxury lingerie retailer Victoria’s Secret. It is widely believed that Janie Schaffer was frustrated with the lack of opportunity that she was supposedly given to overhaul…

British supermarkets have cut petrol prices by 2-3p a litre as oil prices have plunged to a 12-month low. The petrol price cut of Asda, Tesco and Sainsbury’s will be up to 2p a litre while the Morrison petrol price cut will be 3p a litre. The newest Asda petrol price cut will make its customers shell out no more than 133.7p a litre at any of its petrol stations….

House prices across the UK have hit the highest level ever registered in the month of April, which is an unambiguous indication of a spring recovery in the real estate market. The house price hike report has been posted by Rightmove House Price Index on its property search website. Asking prices amplified by 2.1% month-on-month to touch £244,706 on average. The UK house price rise documented by the report for April is…

People switching jobs are losing track of their pension fund details, which is leading to retirement planning becoming more difficult, according to charity organisation Age UK. The charity has surveyed 2300 persons regarding the whereabouts of their pension pots. The Pensions Tracing Service estimates that the amount of cash going unclaimed in ‘missing’ personal or occupational workplace pension totals around a whopping £3 billion, with five million people having lost…

Fairsearch Europe (FE), which includes hi-tech firms like Microsoft, Nokia, Oracle, Expedia and Trip Advisor, has exhorted the European Union (EU) to investigate Google over supposed unjust practices in the mobile smartphone marketplace. FE has alleged that the Android operating system is a deceptive way to dominate the mobile marketplace. FE consists of firms, which are opponents of Google, and whose positions have been eaten into by Google.

Manchester United have agreed an eight-year deal worth £180m with Aon to sponsor the club’s training kit and rename Carrington as the Aon Training Complex. The eight-year deal, which starts in July, gives the American insurance giant the right to display its logo on training kit for friendly and competitive domestic fixtures. AON will also become United’s “presenting” partners for overseas tours starting with this summer’s trip to the Far…