Demerger speculation at GUS - 2004-05-24
The owner of Argos and Homebase could demerge credit checking business Experian in an overhaul towards the end of this year, it was said today.

The speculation over the shape of retail conglomerate GUS comes as the blue-chip company prepares to reveal another major increase
in annual profits. It may also announce plans to return £400m (€596.1m) to shareholders on Tuesday.

However, the Sunday Telegraph added that a demerger of Experian was being considered, possibly for the end of the year.

The company, which also has a stake in Burberry, is thought to be waiting for evidence that the retail business, including recently-acquired DIY chain Homebase, is strong enough to operate as a stand-alone venture.

It may also want to prove that Experian has traded out of a slowdown in one of its US mortgage-related subsidiaries.
Read the full story at Ireland Online

Mortgage lending up - 2004-05-24
Mortgage lending rose by 25 per cent in the past year according to figures published by the Council of Mortgage Lenders (CML).

A total of £25 billion was lent in April - one per cent more than in March and 25 per cent higher than in April 2003.

House purchase loans accounted for 51 per cent of gross lending at £12.8 billion, matching the record figure of October last year.

Meanwhile, loans to first-time buyers slid from 31 per cent in March to 28 per cent.
Read the full story at LIA