Archive for July, 2010
European bank stress test results awaited
The viability of Europe’s banks will come under scrutiny again today, when the results of EU-wide bank stress tests are published. Results for a total of 91 banks across Europe will be made public this afternoon, in a move designed to reassure investors over the health of Europe’s financial sectors. The tests assess whether banks [...]
July 23, 2010
Tags: banks, borrowing, ECB, euro, sovereign debt Posted in: Uncategorized 
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UK govt could be £4.84 trillion in debt
The Office for National Statistics (ONS) released a study revealing that the public purse could be faced with £4.84 trillion of liabilities compared with the current public sector net debt figure of £903bn. David Hobbs of the ONS described the public sector balance sheet as an “open-ended concept” as he outlined liabilities that are considered [...]
July 22, 2010
Tags: Bank of England, banks, Conservatives, labour liars, sovereign debt, UK loans rates Posted in: Uncategorized No Comments
UK public sector could have £4 trillion of hidden debts
The UK’s public sector debt could be nearly £4 trillion higher than headline figures suggest, according to new research that highlights the scale of the economic challenges facing the new Government. The Office for National Statistics (ONS) has released a study revealing that the public purse could be faced with £4.84 trillion of liabilities compared [...]
July 21, 2010
Tags: BoE, bonds, Credit Crunch, sovereign debt Posted in: Uncategorized No Comments
UK public sector borrowing worse than expected
The level of new public sector borrowing in June was worse than expected, official figures have shown. Net borrowing last month totalled £14.5bn, according to the Office for National Statistics (ONS). While less than the £14.7bn seen in June 2009, that was well above the £13.1bn economists had forecast. The ONS also said total government [...]
July 20, 2010
Tags: borrowing, finances, uk recession Posted in: Uncategorized No Comments
Bankrupts in banking exclusion says Citizens Advice Bureau
People going through bankruptcy are facing financial exclusion from banks, according to an advice service. Only two out of 17 banks allowed the recently bankrupt to open a basic bank account, a Citizens Advice report found. These accounts allow people to have income or benefits paid in, and for bills to be paid from it [...]
July 16, 2010
Tags: banks, borrowing, credit cards, Credit Crunch Posted in: Uncategorized No Comments
UK trade deficit hits two year high
The UK’s trade in goods and services gap widened unexpectedly to £3.8bn in May, the worst since July 2008 according to the Office for National Statistics. The deficit on trade in goods rose to £8bn, the highest since January and compared with £7.4bn in April. Exports went up less than £100m, or 0.2%, to £21.5bn, [...]
July 15, 2010
Tags: borrowing, finances, sovereign debt, uk recession Posted in: Uncategorized No Comments
Personal insolvency data has North South divide
The number of people being declared insolvent in England and Wales has been at record highs for five consecutive quarters.There were 35,682 personal insolvencies in the first three months of 2010, a 17.9% increase compared with the same period a year earlier. Although these figures show the picture in 2009, data already published shows that [...]
July 14, 2010
Tags: Bankrupcy, borrowing, consolidate debt loans, Credit Crunch, Interest Rates Posted in: Uncategorized No Comments
North South contrast in personal insolvency data
Figures showing the hotspots for personal insolvencies in England point to a North-South divide in 2009. The highest rate of personal insolvency – such as bankruptcies and individual voluntary arrangements – was in the North East of England in 2009. The lowest level was in London, new data from the Insolvency Service shows. Personal insolvency [...]
July 13, 2010
Tags: Bankrupcy, banks, borrowing, consolidate debt loans, credit cards, Credit Crunch Posted in: Uncategorized No Comments
Why paying off debt now is your best investment
Why you should pay off your debts even as bank interest rates remains frozen. A the Bank of England base rate remains stuck at 0.5 per cent many savers – who outnumber borrowers by six to one – may despair of ever getting a decent return on their money. Very few bonds, deposits or individual [...]
July 12, 2010
Tags: Bank of England, borrowing, consolidate debt loans, credit cards, Credit Crunch, personal loans Posted in: Uncategorized No Comments
UK economy continues to grow, say businesses
The UK economy continued to grow in the second quarter of this year, according to a survey by the British Chambers of Commerce (BCC). The organisation, which collected data from 5,600 businesses across the country, predicted growth for the three months to the end of June of between 0.6% and 0.7%. However, serious concerns over [...]
July 9, 2010
Tags: Bank of England, Loan calculator, recession, uk recession Posted in: Uncategorized No Comments
