Archive for August, 2010
UK economy to pick up in near term if interest rates kept low
The British Chambers of Commerce (BCC) has upgraded its forecast for the UK’s short term economic prospects, but said interest rates must be kept low to aid recovery. And it warned the pace of growth may slow sharply when the impact of “tough” government measures kick in. The business group expects gross domestic product (GDP) [...]
August 31, 2010
Tags: falling interest rates, Interest Rates, UK loans rates, uk recession Posted in: Uncategorized 
One Comment
Undergraduates warned of new student loan delays
Students have been warned they may not receive their full loans in time for the start of the new university term, as the body responsible for awarding funds is hit by administrative problems for a second successive year. Just 12 months after hundreds of thousands of undergraduates were left without money for rent and books [...]
August 19, 2010
Tags: borrowing, Loan calculator, loans, student loans Posted in: Uncategorized No Comments
Bank of England forecasts ‘choppy’ economic recovery according to Governor
The UK economy faces a “choppy recovery” over the next two years, the governor of the Bank of England, Mervyn King, has warned. His comments came as the Bank lowered its economic growth forecast and said inflation would stay higher for longer than previously forecast. The Bank now expects the economy to grow by less [...]
August 18, 2010
Tags: Bank of England, inflation, Interest Rates, Mervyn King, uk recession Posted in: Uncategorized One Comment
PPI compensation could reach £2.7bn says FSA regulator
Two and three quarter million people could be refunded as much as £2.7bn for being mis-sold Payment Protection Insurance (PPI). The Financial Services Authority (FSA) has given banks and other lenders until 1 December to adopt new rules for dealing with PPI complaints. The FSA said that over five years it had found “wide and [...]
August 17, 2010
Tags: borrowing, FSA, loans, loans rates, personal loans Posted in: Uncategorized No Comments
Japan keeps interest rates on hold at 0.1pc
Japan’s central bank has kept its benchmark interest rate unchanged as it tries to nurture the country’s slow recovery from recession while also attempting to tackle deflation- rates have been held at 0.1% since the end of 2008. Besides falling prices, the strong yen – which eats into the value of overseas earnings for Japanese [...]
August 16, 2010
Tags: Bank of Japan, Interest Rates, recession Posted in: Uncategorized One Comment
Dozens of UK companies going bankrupt every day
Forty five companies are going bankrupt every day as the credit crisis approaches its third anniversary, new figures show.The statistics, released the week after UK banks reported profits of more than £15 billion, were down by almost a fifth compared to the same time last year. More than 4000 firms were forced into liquidation over [...]
August 13, 2010
Tags: Bankrupcy, borrowing, sub prime loans, uk recession Posted in: Uncategorized One Comment
Duchess of York could choose an alternative to bankruptcy
The Duchess of York’s difficulties in coping with debt are an extreme example of problems faced by many people who seem set to suffer in the credit crunch. Soon, like more than 130,000 people last year, the Duchess may have to decide whether bankruptcy or a less drastic option known as an Individual Voluntary Arrangement [...]
August 12, 2010
Tags: Bankrupcy, borrowing, consolidate debt loans, Credit Crunch, IVA, sub prime loans Posted in: Uncategorized 3 Comments
British bank chiefs defend lack of lending worries
Six UK bank bosses are to form a taskforce designed to help get lending to businesses back on track. The British Bankers’ Association boss Stephen Green outlined the plans in a letter to chancellor George Osborne. He said there was a “need to make sure that viable businesses are able to obtain the finance they [...]
August 11, 2010
Tags: Bank of England, banks, BoE, borrowing, Lenders Posted in: Uncategorized One Comment
Personal insolvencies numbers drop 3% in England and Wales
The number of people being declared insolvent has fallen in England and Wales for the first time since 2007. There were 34,743 personal insolvencies in the second quarter of this year, down by 3% from the first quarter. The insolvencies were made up of bankruptcies, individual voluntary arrangements and debt relief orders. The number of [...]
August 10, 2010
Tags: Bankrupcy, borrowing, consolidate debt loans, Credit Crunch, refinancing rates, sub prime loans Posted in: Uncategorized No Comments
Eurozone interest rates kept on hold by ECB
The European Central Bank (ECB) has kept eurozone interest rates on hold at 1%, as had been expected. It is the 15th month running that rates have stayed at this record low, as the ECB continues to seek to help economies recover from last year’s recession. ECB president Jean-Claude Trichet said that while the eurozone [...]
August 9, 2010
Tags: Bank of England, ECB, euro, Interest Rates, UK loans rates Posted in: Uncategorized One Comment
