It's been a mixed bag of economic news coming out of the UK. From banking app glitches to rising house prices, here's a quick rundown of what's happening.
Banking App Troubles Plague UK Users
For the second consecutive month in 2025, users of several major UK banking apps experienced technical difficulties right around payday. Lloyds, Halifax, and TSB customers reported issues accessing their accounts and completing transactions. This caused frustration and inconvenience for many relying on these apps to manage their finances.
The timing of these issues, coinciding with payday, only exacerbated the problem. While the banks haven't released a detailed explanation for the recurring glitches, users are hoping for a swift resolution and preventative measures to avoid future disruptions.
House Prices Defy Economic Headwinds
Despite signs of a sluggish economy and "affordability challenges," UK house prices continued their upward trajectory in February, marking the sixth consecutive month of growth. Nationwide, Britain's largest building society, reported a 0.4% increase in the average property price, bringing it to £270,493.
Economists suggest that a rush of buyers trying to complete purchases before anticipated stamp duty increases in April is contributing to this sustained growth. This demand is keeping prices buoyant, even as broader economic indicators paint a less optimistic picture.
“The continued rise in house prices is somewhat surprising given the current economic climate,” says a representative from Nationwide. "However, the impending stamp duty changes are clearly having an impact on buyer behavior."
Warning from Across the Channel
Meanwhile, across the channel, German economist Ulrike Malmendier has issued a stark warning regarding the future of the German economy. She believes that a federal government under Friedrich Merz must take decisive action and stand up to the influence of the USA to prevent significant economic decline.
Malmendier's concerns highlight the complex interplay of global economic forces and the challenges faced by governments in navigating an increasingly interconnected world.
Executive Pay in Focus
In other business news, pharmaceutical giant GSK is considering a significant increase in CEO Emma Walmsley's pay, potentially reaching nearly £22 million in three years. This move is part of an effort to align executive compensation with US standards, but the final package will depend on the company's share price performance and the achievement of ambitious targets. This has sparked debate about executive compensation and its relationship to company performance.
These diverse economic developments paint a complex picture of the UK and global economies, with challenges and opportunities emerging across various sectors.