All Entries Tagged With: "credit crunch"
Christmas Shoppers targeted with payment card at 222.7%
The public have been warned against the Argos payment card which has an astonishing interest rate of up to 222.7%, the card is targeted at low-income Christmas shoppers wishing to spend between £100 and £500 in the popular store Argos.
The lender of the Easy Shop Card, Provident Personal Credit have advertised on their website [...]
Cost of living up: Social Security benefits increases
America will see an increase of 5.8 percent in their supplemental monthly Social Security benefits next year. This is the largest increase since 1982.
The announcement was made on Thursday by the Social Security Administration. Social Security benefit goes up each year depending on the Consumer Price Index. It is expected that this 5.8 percent increase [...]
Credit Crunch hits Cars, Ford, Toyota and GM Motors
It seems no industry is safe when it comes to the credit Crunch car giant Ford Motors Co. slumped 24 percent at times on the day’s trading hitting a 26-year low, the stock closed down at $2.08 dropping 21.8 percent. Analysts warn that the auto trade decline that started in America is spreading, and one
Update: European Financial Crisis
After government efforts failed to stabilize Fortis, units in Luxembourg and Belgium have been sold to BNP Paribas SA, once the purchase is finalised the Luxembourg government will have 1.1 percent stake and the Belgian government will have 11.6 percent share
Credit crunch hits the rich, as £11.6m property is repossessed
If you think that the credit crunch only hits the lower-paid and the sub-prime, then the news of a £11.6 million home being repossessed in London’s swanky Holland Park will show how it is also
Henry Paulson urges for fast rescue plan for bad debt
The US Treasury Secretary has pushed for Congress to put through as quickly as possible a $700 billion (£382 billion) package tackle the aftermath of last week that’s led to the worse financial crisis
Lehman Brothers Update: plans to sell broker-dealer operation
Lehman Brothers, who announced they have filed for bankruptcy protection, but the chapter 11 filing will not include its broker-dealer operations, Neuberger
Inflation pressures The Bank of England
Official figures out today shows inflation has jumped to 4.4 percent in July from 3.8 percent in June.
A scary prospect for millions of people in the UK as they see their cost of
Record loss of £691m for Royal Bank of Scotland
Royal Bank of Scotland has made history today announcing one of the biggest losses in UK corporate history. RBS reported a pre-tax loss of almost £700 million in the
£585m loss for Northern Rock
A report by Northern Rock, once the 5th biggest mortgage lender, shows losses of £585.4m for the first
Nationwide report, average house price down in the UK by £17,000
The report out by Nationwide today follows a prediction by the world’s largest credit rating agency Standard & Poor’s, stating that one in seven homes in the UK could
New saving accounts in the UK up by two-thirds
Consumers have been taking advantage of high saving rates at UK building societies; the new saving accounts grew by two-thirds in the first half of
Tesco to become a high street bank
Times are hard, but Tesco seem to be finding ways to win during the credit crunch, they are now going to become a high Street bank, why not pay it in the bank in one hand then hand it back over at the
IndyMac collapses, do you know if your bank is safe?
Is it time for us all to run to our bank, withdraw our money and stash it under the mattress? Some people are doing exactly that, the IndyMac’s failure caused chaos with customer queuing outside the
Mortgage slump set to get much worse
Just one year ago the housing market was in such a good position, back then I decided to put my house on the market. That same night my estate agent had managed to line up three potential buyers, I had an offer on the first night, but I refused it as it was too low.
Well [...]