Goldman Sachs reports £245 million loss on eurozone impact
Goldman Sachs has reported a quarterly loss, after its trading was “significantly impacted” by the debt crisis in the eurozone and the wider global economic uncertainty.The US bank made a net loss of £245 million for the third quarter of 2011. A year earlier, it made a whopping £1.18 billion profits. Goldman’s group-wide revenues fell [...]
October 21, 2011
Tags: bad debts, bank lending, bankers, Credit Crunch, euro, Loan calculator, sub prime loans, US loans rates Posted in: Bank Lending, Bankers, Banks, Business Finance, Credit Crunch, Financial Services, Gold, Uncategorized 
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UK taking legal action against European Central Bank
The UK government is taking legal action against the European Central Bank (ECB) over a planned change to European banking rules that could harm the City of London.The ECB’s plans would require clearing houses that handle more than 5% of the market in a euro-denominated financial product to be based in the eurozone. The Treasury [...]
September 23, 2011
Tags: bank lending, bankers, banks, ECB, euro, eurozone Posted in: Bankers, Banks, Finance, Financial Services, Loans Calculators, Sovereign Debt, Uncategorized 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
Bank of England warns on eurozone crisis risk
The Bank of England’s new financial policy committee (FPC) has warned on UK banks’ exposure to the eurozone debt crisis. The Bank’s governor Sir Mervyn King said the debt problems of Greece and other countries posed “the most serious and immediate risk” to UK banks. The FPC also called for banks to divert their profits [...]
June 28, 2011
Tags: Bank of England, Bankrupcy, borrowing, Credit Crunch, euro, eurozone, Mervyn King, sovereign debt, uk recession Posted in: Bank of England, Bankers, Bankrupcy, Banks, Credit Crunch, Sovereign Debt, Uncategorized No Comments
Eurozone interest rates raised to 1.25% by ECB
Eurozone interest rates have been raised to 1.25% from the record low of 1% by the European Central Bank (ECB). Interest rates had been held at 1% for just under two years following the financial crisis and global recession. ECB president Jean-Claude Trichet said that the rate rise was in response to the risk of [...]
April 18, 2011
Tags: borrowing, ECB, euro, finances, Interest Rates, sovereign debt Posted in: Borrowing Costs, Credit Crunch, Interest Rates, Loans Calculators, Sovereign Debt, Uncategorized No Comments
Bank boss warns eurozone debt restructuring would be risky given the weakness of the financial sector
Forcing eurozone countries to restructure their debt would be “far too risky”, the head of US bank JP Morgan Chase has warned. Jamie Dimon the boss of JP Morgan Chase said doing so could result in banks taking losses and needing to be rescued. Mr Dimon was speaking on day two of the World Economic [...]
February 1, 2011
Tags: Bankrupcy, banks, borrowing, consolidate debt loans, Credit Crunch, debt management plans, euro, nationalisation, sovereign debt Posted in: Bankrupcy, Borrowing Costs, Credit Crunch, Debt Management, Loans Calculators, Sovereign Debt, Uncategorized, nationalisation 2 Comments
Euro debts worries increase cost of borrowing to PIGS
The cost of borrowing for Spain, Italy and Belgium increased as worries over the eurozone debt crisis has increased. The difference between the yield on German government bonds – considered the safest – and yields for those three countries has reached the highest in the euro’s 12-year history. Late on Tuesday ratings agency Standard & [...]
December 3, 2010
Tags: Credit Crunch, ECB, euro, finances, Loan calculator, PIGS, sovereign debt, sub prime loans Posted in: Borrowing Costs, Interest Rates, Lenders, Uncategorized 3 Comments
Ireland warned credit rating cut is likely as debts soar
Moody’s has warned that it is considering cutting Ireland’s credit rating amid concerns that its economic recovery was running out of steam, coupled with the financial burden of the £45bn bailout of its bankrupt banking system. Moody’s Investor Services said Ireland’s Aa2 rating would “most likely” be cut by one notch if the downgrade went [...]
October 7, 2010
Tags: Bankrupcy, banks, euro, nationalisation, recession, sub prime loans Posted in: Uncategorized No Comments
End of fees free cards as consumers face higher overseas card charges
In two months time, the Nationwide building society is to withdraw its popular commission free service, and charge a fee when its debit card is used abroad. Most other current account debit cards now rack up charges each time we buy something or withdraw currency – up to £4 for every £100 spent. The terms [...]
September 22, 2010
Tags: banks, credit cards, Credit Crunch, euro Posted in: Uncategorized No Comments
Greece PM rules out restructuring of national debt- again
The Greek Prime Minister George Papandreou has said restructuring the nation’s debt would be “catastrophic” for the country’s credibility and its economy. If debt repayments were suspended, he said Greece “would head towards a potential and probable collapse of the banking system”. That, he said, could lead to the loss of Greek families’ property, which [...]
September 16, 2010
Tags: ECB, euro, Greece, sovereign debt Posted in: Uncategorized No Comments
