Rolling coverage of the latest economic and financial news
- Latest: House prices dipped in April
- UK inflation hit 2.1% in May, first time since summer 2019
- Transport, clothes and meals out pushed up inflation
- Gaming and craft prices also pushed up inflation
- Hairdressing, books, carpets and bikes all pricier
- Factory gate prices jump
In the US, mortgage applications have picked up after three weeks of falls – despite the shortages of properties that drove prices higher.
Applications for home loans rose 4.2% last week, the Mortgage Bankers Association reports.
The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11 percent – the lowest since early May.
U.S. Treasury yields have slid because of the uncertainty in the financial markets regarding inflation and how the Federal Reserve may act over the next few months.”
Mortgage Application in the United States increased by 4.20 percent in the week ending June 11 of 2021 over the previous week. https://t.co/fmhyqvEcHy pic.twitter.com/29qrBfzBaO
The £6.8bn debt-fuelled takeover of supermarket chain Asda by the billionaire Issa brothers has moved closer to completion, after the UK competition regulator accepted their offer to sell 27 petrol stations.
Asda’s prospective new owners made the proposal, following concerns that the deal would lead to higher petrol prices for motorists in 36 locations.
The CMA had officially accepted Asda buyers’ concessions to sell off 27 forecourts. Just need to find an approved buyer and the Issas and TDR will finally be able to do what they want with the supermarket
CMA has given the green light to the Issa brothers’ acquisition of Asda. The grocer’s new owners had offered to sell 30 petrol stations to push the deal through – a move that has been accepted by the watchdog
Asda boss Roger Burnley said: “We welcome today’s announcement from the CMA, which means we can now fully embark on the next stage of our journey under new ownership and work with Mohsin, Zuber and TDR to build an even stronger Asda.”