POUND NOTES
Virgin Money has announced plans to close 31 stores with the loss of around 112 jobs.
Bosses said the move comes as more customers switched to online banking during the pandemic.
They said the number of customers using bank branches for day-to-day transactions has been on a downward trajectory across the UK banking industry for a number of years, and this has been further accelerated by the pandemic.
Virgin Money added the decision on each site was based on location, usage, proximity to alternative stores and lease arrangements.
Annual house price growth remained in double digits for the fifth month in a row in September despite a “modest slowdown”, according to an index.
Property values increased by 10% annually in September, easing back from 11% in August, according to Nationwide Building Society.
Prices increased by just 0.1% month-on-month, taking the average UK house price to £248,742.
The UK’s economic bounceback was faster than first thought in the second quarter as spending surged after lockdowns lifted, according to official figures.
The Office for National Statistics (ONS) said gross domestic product (GDP) increased by 5.5% between April and June after being revised up from the initial estimation of 4.8%.
The biggest driver of the upward GDP revision was household spending, which contributed four percentage points of the 5.5% increase as restrictions eased to allow outdoor dining in April, with further restrictions lifted in May.