The Bank of England wants more formal powers to intervene in the housing market to stop a bubble destabilising the financial system.
Virgin Money's flotation is set to return �50 million to the taxpayer after it unveiled the details of its long-awaited flotation which will help pay off monies agreed in its purchase of Northern Rock in 2011.
LONDON Oct 2 (Reuters) - The Bank of England gave a clean bill of health to Britain's controversial flagship mortgage guarantee scheme on Thursday, sparing the government from potential embarrassment in the run-up to a national election.
Activity in the construction sector picked up in September, according to the latest purchasing managers' index, suggesting building work was growing at close to the fastest pace since the recession.
The high street crisis deepened yesterday after City watchdogs launched an investigation into bogus profit claims at Tesco while Sainsbury's revealed a disastrous fall in sales.