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 
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Finance watchdogs hindered by flawed information sources
Trading standards departments are continuing to be hindered by two separate and incompatible intelligence databases.Questions have been raised about whether investigations into scams across local authority borders are made less efficient by two twin track systems. Attempts are being made to allow the computer systems to operate together. The National Audit Office recently described the [...]
August 22, 2011
Tags: borrowing, Credit Crunch, finances, financial services, recession, UK loans rates Posted in: Credit Crunch, Debt Management, Finance, Independent Finance, Lenders, Loans Calculators, UK Loans Rates, Uncategorized No Comments
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 No Comments
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
Quarter of households predicted to turn off heating to save money
Soaring fuel bills may force a quarter of homes to turn off their heating at some point next winter to save money. The Bank of England said this week that gas prices could rise by 15% later this year, and electricity by 10%. Uswitch said that a survey of almost 1,600 of its customers carried [...]
May 18, 2011
Tags: Credit Crunch, debt management plans, finances, recession, sub prime loans Posted in: Borrowing Costs, Credit Crunch, Debt Management, Loans Calculators, Uncategorized One Comment
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
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
Business bankrupcies fall in England and Wales
The number of companies going bust in England and Wales fell sharply in 2010 as the economy recovered from recession. There were 4,905 receiverships, administrations or company voluntary arrangements last year. That was 23% fewer than in 2009, which was a record year for company insolvencies. The number of firms that were liquidated – the [...]
February 18, 2011
Tags: Bankrupcy, Credit Crunch, debt management plans, recession, refinancing rates, sub prime loans Posted in: Bankrupcy, Credit Crunch, Lenders, Loans Calculators, Uncategorized No Comments
Banks must be allowed to fail says Bank of England’s Paul Tucker
Capitalism cannot work unless banks are allowed to go bust, Bank of England deputy governor Paul Tucker has said. Mr Tucker told BBC Two’s Britain’s Banks: Too Big to Save? programme that despite changes to the banking system since the 2008 financial crisis, more still needs to be done. Banks still do not hold high [...]
January 24, 2011
Tags: Bank of England, Bankrupcy, Credit Crunch, nationalisation, recession, sub prime loans Posted in: Bank of England, Bankrupcy, Borrowing Costs, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized, nationalisation 2 Comments
After pressure FSA to publish limited report into RBS failings
Lord Turner, head of the Financial Services Authority (FSA) has been criticised for not releasing a report into what went wrong at RBS. The Financial Services Authority (FSA) has now pledged to publish a limited report on its findings of what went wrong at Royal Bank of Scotland (RBS). It follows criticism of RBS by [...]
December 23, 2010
Tags: Bankrupcy, banks, debt management plans, Loan calculator, nationalisation, recession Posted in: Bankrupcy, Credit Crunch, Debt Management, Lenders, Loans Calculators, Uncategorized 2 Comments
