Archive for July, 2011
Taxman apologises for poor performances at HMRC
The chairman of HM Revenue & Customs has apologised for the treatment of taxpayers after the service was attacked by a committee of MPs.Mike Clasper said: “We are not happy with our performance in 2010.” The Treasury select committee said dissatisfaction risked undermining public confidence in the tax system. The worst problems were in getting [...]
July 29, 2011
Tags: Credit Crunch, finances, recession, UK loans rates Posted in: Borrowing Costs, Credit Crunch, Finance, Online Banking, Uncategorized 
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Credit Suisse to cut 4% of global workforce by 2012 to save money
Credit Suisse is to cut more than 2,000 jobs – or 4% of its global workforce of 50,700 – by the end of next year in an attempt to make savings.The announcement came as the Swiss bank reported a 52% year-on-year fall in net profit to 768m Swiss francs ($959m; £586m) in the second quarter. [...]
July 26, 2011
Tags: banks, borrowing, Lenders, Loan calculator, loans, recession Posted in: Bankers, Banks, Borrowing Costs, Business Finance, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
Number of Scottish people going bankrupt rises by 25%
The number of people going bankrupt in Scotland rose by a quarter in the first few months of this year, according to official figures.The Accountant in Bankruptcy said more than 5,000 people were declared insolvent between April and June. That figure was up 25% on the previous quarter, but down 1% on the same period [...]
July 21, 2011
Tags: Bankrupcy, banks, consolidate debt loans, Credit Crunch, Loan calculator, UK loans rates Posted in: Bankrupcy, Banks, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Loans interest rate rises unlikely in near term says Bank of England
There is a reduced chance of a rise in loans interest rates in the near term the Bank of England policymakers have said. Minutes from its July meeting showed the Monetary Policy Committee voted seven to two in favour of holding rates at 0.5% for the second month in a row. Spencer Dale and Martin [...]
July 18, 2011
Tags: Bank of England, banks, Credit Crunch, Interest Rates, loans rates, UK loans rates Posted in: Bank of England, Bankers, Borrowing Costs, Credit Crunch, Loans Calculators, UK Loans Rates, Uncategorized No Comments
Goldman Sachs bank’s profits disappoint markets
Second quarter profits at the Goldman Sachs bank have missed expectations as the Wall Street bank’s revenues from fixed income trading dropped sharply. Net profit for the three months to June rose 77% on a year ago to $1.09bn (£676m), but this was below forecasts. Revenues in the fixed income, currency and commodities segment fell [...]
July 15, 2011
Tags: banks, Credit Crunch, US loans rates Posted in: Bankers, Banks, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Spain’s borrowing costs increase on debt fears
Spain has had to pay higher interest rates to borrow £3.9 billion on the financial markets. In a bond auction on Tuesday the yield on loans repayable in 12 months was 3.702%, up from 2.695% paid on a fund-raising in June. For 18-month bonds, the yield was 3.912%, up from 3.26%. The rise reflects greater [...]
July 13, 2011
Tags: Bankrupcy, banks, borrowing, Credit Crunch, sovereign debt, sub prime loans Posted in: Bankers, Bankrupcy, Banks, Borrowing Costs, Credit Crunch, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
Hidden credit card charges for travel tickets to be banned
Travel companies have been ordered to end the use of hidden surcharges for passengers paying by credit and debit cards.Potential airline, ferry and rail passengers typically have to click through four to six pages of an online booking before the charge is added to the price. Now the Office of Fair Trading (OFT) has ordered [...]
July 8, 2011
Tags: banks, borrowing, credit cards, finances, Loan calculator Posted in: Borrowing Costs, Credit Cards, Credit Crunch, Finance, Loans Calculators, Uncategorized No Comments
Loans interest rates must rise claims top bankers
The Bank for International Settlements (BIS) has warned that low interest rates across the globe are a threat to world financial stability. The BIS has warned that the low cost of borrowing had resulted in a credit and property price boom which was fuelling inflation, especially in emerging economies. Central banks across the globe have [...]
July 6, 2011
Tags: Bankrupcy, banks, borrowing, Credit Crunch, finances, Interest Rates, Lenders, Loan calculator, loans, refinancing rates Posted in: Bankers, Banks, Business Finance, Credit Crunch, Finance, Interest Rates, Lenders, Loans Calculators, Uncategorized, inflation No Comments
Desperate ECB shoots messenger over Greek debts
In a desperate attempt to preserve German and French banks’ from having to write off huge Greek debts at eu taxpayers’ expense the ECB has announced that they will disregard credit ratings default analysis.Plans to allow Greece to defer the repayment of its debt have been dealt a blow after Standard & Poor’s said the [...]
July 5, 2011
Tags: bank lending, Bankrupcy, banks, Credit Crunch, ECB, euro, refinancing rates, sovereign debt Posted in: Bankers, Bankrupcy, Banks, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Sovereign Debt, Uncategorized No Comments
Financial regulation to be tougher and bolder
The financial services industry faces “tougher and bolder” regulation, under plans for the forthcoming Financial Conduct Authority (FCA). The FCA will be one of the successors to the Financial Services Authority (FSA), it will come into being by the end of 2012. The FCA will oversee the way 27,000 firms, including banks, do business with [...]
July 4, 2011
Tags: bank lending, bankers, banks, borrowing, finances, Loan calculator, loans, UK loans rates Posted in: Bankers, Business Finance, Credit Crunch, Finance, Independent Finance, Lenders, Loans Calculators, Uncategorized No Comments
