Archive for March, 2009
Dunfermline bill leaves state with £600m exposure
The taxpayer is on the hook for as much as £600m to cover the failure of Dunfermline Building Society after Scotland’s largest mutual became the first lender to be dismantled under the labour Government’s new “special resolution regime”. Following a deal brokered by the Bank of England and the Treasury over the weekend, labour will [...]
March 31, 2009
Tags: Credit Crunch, sub prime loans, uk recession Posted in: Uncategorized 
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G20 unity spells end of Brown’s ‘New Deal’
Gordon Brown’s plans for a $2 trillion (£1.4 trillion) “New Deal” to revive the global economy have been quietly dropped to preserve the facade of unity as world leaders gather in London for the G20 summit. The US and Britain have both backed away from spending proposals worth 2pc of global GDP, accepting that each [...]
March 30, 2009
Tags: china, consolidate debt loans, Credit Crunch, G20 Posted in: Uncategorized No Comments
UK economy slows sharper than expected as construction slumps
GB economy slowed even more sharply than expected in the last three months of 2008 as construction output plunged, official data showed today. GDP contracted by 1.6pc in the fourth quarter of 2008, revised down from a contraction of 1.5pc, the Office for National Statistics reported. The quarterly fall of 1.6pc was the sharpest decline [...]
March 27, 2009
Tags: consolidate debt loans, Credit Crunch, Loan calculator, uk recession Posted in: Uncategorized No Comments
Brown’s reckless spending plans in trouble
The UK gilt auction by the debt management office failed to sell the total £1.75bn on offer. This is the first time such an auction has failed since 2002 and identifies probable concern over the health of public finances. The failure in the auction will concern the government and follows a warning from Mervyn King [...]
March 26, 2009
Tags: Credit Crunch, Loan calculator, UK loans rates, uk recession Posted in: Uncategorized No Comments
UK shares- is this a good time to invest?
The stock market has jumped by about 500 points in the past couple of weeks, but investors thinking of putting their Isa money into shares want to know one thing: is this the start of a sustained recovery or a dead cat bounce? Stock markets have shown signs of life in the past few weeks. [...]
March 25, 2009
Tags: Loan calculator, UK loans rates, uk recession Posted in: Uncategorized No Comments
Equities surge higher
Markets are on a positive feel following yesterdays outline by Tim Geithner on the Public Private Investment Program in the US. The plan involves the US government buying up toxic assets held by banks which will allow the banks to free up their balance sheets. At the moment the debt sits with the banks and [...]
March 24, 2009
Tags: Barack Obama, Credit Crunch, inflation, Quantitative Easing, recession Posted in: Uncategorized No Comments
AIG bonuses backlash risks inflicting permanent damage on Wall Street
Outraged US legislators are pushing through punitive taxes on bonuses not just at AIG but at all recipients of government funds. The hot-headed and unfairly retroactive changes could hurt investor confidence, undermine President Barack Obama’s credibility and damage the still valuable US finance sector. AIG has been especially irresponsible, both with its risk-taking during the [...]
March 23, 2009
Tags: Barack Obama, Credit Crunch, Loan calculator, recession, sub prime loans Posted in: Uncategorized No Comments
Gordon Brown’s G20 dream fades amid European hostility
Gordon ditherer Brown’s hopes of leading the world out of recession at next month’s pivotal summit in London were undermined yesterday when European leaders flatly rejected calls for a further massive stimulus package. The incompetent Prime Minister has been forced to lower expectations for the G20 summit, where leaders of the richest 20 countries will [...]
March 20, 2009
Tags: Credit Crunch, G20, recession, UK loans rates, uk recession Posted in: Uncategorized No Comments
Fed shock the markets with a bumper $1.15 trillion stimulus plan
The Federal Reserve shocked the market with a $1.15 trillion boost for the US economy. The funds will be used to buy government debt and to liquidate Fannie Mae and Freddie Mac. The Fed kept interest rates on hold at 0-0.25 % as expected, however the sheer scale of the plans surprised the markets. $300 [...]
March 19, 2009
Tags: FED, Interest Rates, Quantitative Easing, US loans rates, US mortgage rates Posted in: Uncategorized No Comments
UK unemployment jumps at fastest pace on record
UK unemployment last month jumped at the fastest pace since records began, driving the number of Britons without work to above 2 million for the first time since the Labour Government came to power in 1997. Figures from the Office of National Statistics released today show 138,400 people joined the dole last month, pushing the [...]
March 18, 2009
Tags: Credit Crunch, recession, UK loans rates, uk recession, unemployment Posted in: Uncategorized No Comments
