Archive for March, 2011
Nationalised Northern Rock bank to axe up to 680 jobs
The nationalised Northern Rock bank has announced a restructuring that will result in up to 680 job losses as it looks to cut costs. The job losses would affect employees at all levels across the company, the nationalised lender said. The bank said trading conditions remained “very challenging”, due in part to the subdued UK [...]
March 30, 2011
Tags: bank lending, Bankrupcy, banks, borrowing, Credit Crunch, Lenders, nationalisation Posted in: Bankers, Bankrupcy, Credit Crunch, Lenders, Loans Calculators, Uncategorized, nationalisation 
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Loans interest rates rises will hit borrowers
The Institute for Social and Economic Research (ISER) found that 659,000 households struggle to make home loans payments, with 117,000 in arrears. If the Bank of England raises the official rate by 1% to battle inflation, then a further 36,000 households will struggle with their payments. If the Bank raises its rate to where it [...]
March 28, 2011
Tags: bad debts, Bank of England, Debt Consolidation, Interest Rates, Loan calculator, loans Posted in: Bank of England, Bankrupcy, Borrowing Costs, Credit Crunch, Interest Rates, Lenders, Uncategorized 2 Comments
UK workers’ take home pay down 5% in real terms since 2009
The average employee takes home £1,088 a year less than two years ago when the sum is adjusted for inflation research finds.The sharp drop, in real terms, highlights the effect of stagnant wages and above-target inflation on incomes. The average British worker earned £20,149 at the start of 2011 – a real terms fall of [...]
March 25, 2011
Tags: Credit Crunch, falling interest rates, inflation, Loan calculator, refinancing rates, uk recession Posted in: Credit Crunch, Debt Consolidation, Loans Calculators, Uncategorized No Comments
Swiss bank pays bonuses to staff over £ 3 billion
The Swiss bank Credit Suisse is to pay it’s bankers over £3 billion in bonuses.The pay package earned by Credit Suisse Group’s chief executive officer fell by 34% last year, company accounts show. Brady Dougan earned £8.7 million including a fixed salary which doubled to £1.8 million. The total bonus pool for last year fell [...]
March 23, 2011
Tags: bankers, banks, borrowing, Credit Crunch, Loan calculator, recession Posted in: Bankers, Credit Crunch, Loans Calculators, Uncategorized No Comments
Loans rate rises could stop recovery
Loans interest rates rises could derail recovery accountants warn.A rise in UK interest rates over the next couple of months could derail the economic recovery, says a new report. Accountants BDO said that growth would remain sluggish and any imminent rate rise could prolong the weakness. With inflation at twice the Bank of England’s 2% [...]
March 18, 2011
Tags: Credit Crunch, Interest Rates, Loan calculator, loans rates, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Interest Rates, Uncategorized No Comments
Financial squeeze set to hit families loans credit charity warns
Higher tax thresholds, fewer tax credits and rising interest rates are all likely to push middle earning families into debt a charity has said.Vulnerable families, especially those with children, will continue to face financial pain, the Consumer Credit Counselling Service (CCCS) said. Surprisingly- homeowners are facing higher unsecured debts than those who rent a home, [...]
March 16, 2011
Tags: bad debts, bank lending, Bankrupcy, banks, borrowing, Credit Crunch, Debt Consolidation, Lenders, Loan calculator Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Management, Interest Rates, Lenders, Uncategorized 2 Comments
Barclays bank boss Bob Diamond gets £6.5m bonus
Barclays bank has revealed that its new chief executive Bob Diamond got a bonus of £6.5m for 2010. The sum was awarded for his performance as head of Barclays’ investment banking and wealth management operations, the bank said in its remuneration report. That figure is on top of his £250,000 annual salary. His predecessor John [...]
March 15, 2011
Tags: bank lending, banks, borrowing, Credit Crunch, Loan calculator, refinancing rates Posted in: Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized 2 Comments
Lib Dem wants taxpayers’ shares in RBS and Lloyds to be given away
Senior Liberal Democrats want the government to give away billions of pounds of its shares in Royal Bank of Scotland and Lloyds Banking Group to the general public. The radical idea would see most of its stake in the banks shared between the 46 million adults on the electoral roll. A floor would be set [...]
March 14, 2011
Tags: Bankrupcy, banks, Credit Crunch, Loan calculator, nationalisation, UK loans rates Posted in: Bankrupcy, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized, nationalisation 2 Comments
Britain at risk of another financial crisis Bank of England governor warns
Britain risks suffering another financial crisis without a reform of the country’s banks, the Governor of the Bank of England has warned. Mr King urges high street banks to take a better, longer term view towards their customers and to stop focusing on the need to “simply maximise profits next week”. He accuses them of [...]
March 11, 2011
Tags: Bank of England, Bankrupcy, banks, borrowing, Credit Crunch, Loan calculator, recession, uk recession Posted in: Bank of England, Bankrupcy, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Uncategorized One Comment
Sir Fred the Shred Goodwin wins censorship ban
Sir Fred “the shred” Goodwin, the former chief executive of the nationalised Royal Bank of Scotland, has obtained a secret super injunction banning the publication of information about him, an MP has disclosed. The existence of the injunction was revealed by John Hemming, a back-bench Liberal Democrat MP, during a business debate in the House [...]
March 10, 2011
Tags: Bankrupcy, banks, borrowing, consolidate debt loans, Credit Crunch, nationalisation Posted in: Bankrupcy, Credit Crunch, Debt Consolidation, Debt Management, Uncategorized, nationalisation No Comments
