RBS failures caused by poor decisions, says FSA
The Royal Bank of Scotland (RBS) nearly collapsed in 2008 because of poor management decisions, inadequate regulation and a flawed supervisory system, a Financial Services Authority report says.The FSA admits that its own supervision was “flawed” and “provided insufficient challenge” to RBS. And it says RBS had too weak a capital position to proceed with [...]
January 13, 2012
Tags: bad debts, bank lending, bankers, Bankrupcy, Credit Crunch, Loan calculator, nationalisation, sub prime loans, UK loans rates Posted in: Bankers, Bankrupcy, Banks, Finance, Sub Prime Loans, Uncategorized, nationalisation 
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Lloyds makes a £3.9 billion loss after PPI settlements
Lloyds Banking Group has reported a £3.9 billion loss for the first nine months of 2011, mainly due to the cost of settling claims for mis-selling payment protection insurance (PPI).The pre-tax loss for the period ending 30 September compares with a profit of £2 billion a year earlier. Lloyds said that during the nine months [...]
November 22, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, banks, borrowing, debt management plans, Loan calculator, nationalisation Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Uncategorized, nationalisation No Comments
World economy on verge of new jobs recession- ILO
The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned.It will take at least five years for employment in advanced economies to return to pre-crisis levels, it said. The ILO also noted that in 45 of the 118 countries [...]
November 4, 2011
Tags: Bankrupcy, Credit Crunch, recession, refinancing rates, unemployment Posted in: Credit Crunch, Finance, Uncategorized, Unemployment No Comments
Bank’s profits hit by Greek debt writedown
Commerzbank, Germany’s second largest bank, has seen its second quarter profits all but wiped out by a £676 million writedown of its Greek debt.Second-quarter net profit fell by 93% from the same period a year ago to £20 million after the debt revaluation. The move reflects acceptance among lenders to Greece that they will not [...]
September 1, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, borrowing, Credit Crunch, debt management plans, recession Posted in: Bankers, Banks, Business Finance, Credit Crunch, Debt Management, Finance, Lenders, Loans Calculators, Loans Rates, Uncategorized, nationalisation No Comments
RBS falls into loss by Greek crisis and PPI costs
The Royal Bank of Scotland (RBS) has reported a half year loss after taking a £733 million provision for its exposure to Greek government bonds.The nationalised bank RBS – 84%-owned by UK taxpayers – reported losses after tax of £1.4 billion for the six months to 30 June. RBS also allocated £850 million to cover [...]
August 18, 2011
Tags: bad debts, bank lending, bankers, Bankrupcy, banks, debt management plans, Loan calculator, loans, nationalisation Posted in: Bankers, Banks, Borrowing Costs, Business Finance, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized, nationalisation No Comments
Personal insolvencies stabilising official figures show
The number of people and businesses going bust has been stabilising, official figures show.The Insolvency Service said personal insolvencies in England and Wales rose 1% in the second quarter of the year. Although they went up by 368 to 30,513, personal insolvencies have effectively been flat for the last nine months. Meanwhile, the number of [...]
August 12, 2011
Tags: bad debts, bankers, Bankrupcy, banks, borrowing, Credit Crunch, refinancing rates Posted in: Bankrupcy, Banks, Credit Crunch, Debt Management, UK Loans Rates, Uncategorized No Comments
Holidaymakers’ compensation plan as another tour operator goes bust
Holidaymakers whose plans were wrecked when a tour firm collapsed may have to wait up to eight months for compensation.Brighton-based Holidays 4 UK went into administration – forcing the cancellation of 20,000 bookings. The firm, which offered package deals mostly to Turkey, was covered under the Air Travel Organisers’ Licensing (Atol) rescue scheme. But some [...]
August 10, 2011
Tags: bad debts, Bankrupcy, Credit Crunch, debt management plans Posted in: Bankrupcy, Credit Crunch, Finance, Sovereign Debt, Uncategorized No Comments
Workers facing a bleak old age warns pension review
Millions of people face a “bleak old age” because they are falling through the cracks of private sector pension provision, a review warns.The Workplace Retirement Income Commission says 14 million people are not saving into a workplace pension scheme at all. And those who are in a scheme often get charged too much for a [...]
August 3, 2011
Tags: Bankrupcy, Credit Crunch, Interest Rates, personal loans, UK loans rates, uk recession Posted in: Bankers, Credit Crunch, Finance, Independent Finance, 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
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
