Debt
FeedSelf employed seek debt management plans
Money Expert
Sep 2nd 2010
Filed under: Debt
Self employed workers are struggling to repay their debts as new figures show that six and a half thousand self-employed people are seeking debt management solutions.The Consumer Credit Counselling Service's Self Employed Centre reported that many of these workers' financial situations were so bad that they were only in a position to help 1,600 of them as over half of callers had a deficit budget.
Managers jump back into UK equities
Adrian Holliday
Sep 1st 2010
Filed under: Company, Debt, Economy, Personal Finance, Retail
Apparently the double-dip fears are overdone. Or perhaps fund managers have a more reliable crystal ball than the rest of us. Whatever it is, fund managers are starting to pour their cash back into UK equities. So maybe there are reasons to be cheerful about the economy?UK lending continues to deteriorate
Adrian Holliday
Aug 31st 2010
Filed under: Debt, Economy, Mortgages, News , Banking
UK lending remains mired in trouble. Total net UK lending fell off a cliff in July, plummeting to just £86m compared to £518m in June, according to new Bank of England figures. The new credit data is amongst the worst ever recorded since records began in 1993.Consumer confidence soars in August
Adrian Holliday
Aug 31st 2010
Filed under: Debt, Economy, News , Retail
Consumer confidence is back - at least, until the next consumer confidence survey tells us that it isn't. But if you put your trust in surveys, the latest GfK NOP consumer confidence looks bullish: this index advanced four points in August, the biggest increase since February. Of course, you could argue some consumers were enjoying an end-of summer blow-out.UK economy grows faster than thought
Adrian Holliday
Aug 27th 2010
Filed under: Debt, Economy, Investing, Markets, Budget 2010
The UK economy expanded at its fastest rate of growth - 1.2% - for nine years in the last quarter. The Q2 GDP figures are a surprise lift from the Office of National Statistics. So what's going on? A little pre-austerity cut binge? Or something more deep-rooted and longer lasting?Ireland suffers new S&P downgrade
Adrian Holliday
Aug 25th 2010
Filed under: Debt, Economy, Banking
S&P has slashed Ireland's credit rating to AA- on the back of worries that bailing out its troubled banks could hit €50bn. Ireland's creditworthiness is still ahead of Italy, Portugal and Greece. But the news has caused a livid response from Ireland's business community.Children help parents with debt consolidation
Money Expert
Aug 25th 2010
Filed under: Debt
At least eight per cent or almost one in ten adult children are giving their parents money and over a third of them use it for debt consolidation.According to Scottish Widows, children are giving their parents is typically £8,250 compared to £6,500 in 2008.
SME lending gets pricier and tighter
Adrian Holliday
Aug 24th 2010
Filed under: Debt, Economy, Small Business, Banking
The spat continues between banks and SMEs: SMEs say banks won't lend and that remaining credit is too expensive. Banks says demand has withered. But a new survey from the Institute of Chartered Accountants in England and Wales (ICAEW) says many businesses can't borrow because the criteria is too tight.Bovis back in profit but nerves remain
Adrian Holliday
Aug 23rd 2010
Filed under: Company, Debt, Economy, Banking , Property
Housebuilder Bovis Homes has revealed a £3.5m pre-tax profit for the first six months of the year compared to an £8.6m loss in 2009. Bovis is the first of several housebuilders to report this week. Although the figures appear positive, the outlook isn't great though.Household budget fears grow for Britons
Adrian Holliday
Aug 23rd 2010
Filed under: Debt, Personal Finance, Banking
Nearly half of all UK households expect their finances to deteriorate in the next 12 months according to the latest Markit/YouGov Household Finance Index. You could argue that jar half-full optimists are still in the majority. But it's pretty tight. Small firms turn to last resort for cash
David Burrows
Aug 23rd 2010
Filed under: Debt, Economy, Banking
Small companies refused credit by banks but desperate to borrow money to keep their business running are turning to invoice financing as an alternative.
There is a general sense that the major banks are failing SMEs by not lending adequate support at a crucial time.
Increasingly companies are frustrated at the attitude of the major banks towards SME loans and are turning to smaller private banks to provide the support they need.
Money sickness syndrome increases among pensioners
Money Expert
Aug 20th 2010
Filed under: Debt, Personal Finance, Pensions
Pensioners are the group most affected by money worries with their mental and physical health suffering, new government data reveals. Britain is an ageing population - the number of people over 65 is predicted to grow to account for almost a quarter of the population in the next 20 years, and these people are being plagued by Money Sickness Syndrome.
Bank lending to SMEs falls yet again
Adrian Holliday
Aug 20th 2010
Filed under: Company, Debt, Economy, Banking , Credit Reports
The Bank of England says lending to business shrank - by up to £3.5bn - again in June. Additionally, net lending by major UK lenders remained weak in July. Naturally the banks will claim lower demand is driving the fall. But these results must drive further concern about how cash-strapped SMEs can cope.Bank shows low lending to UK business
David Burrows
Aug 19th 2010
The flow of net lending to UK businesses remained negative in June according to latest Bank of England figures.
The latest report from the BoE shows that the stock of lending to all the main sectors of the economy contracted in 2010 Q2.
BBC pension cuts sparks strikes threat
Adrian Holliday
Aug 18th 2010
Filed under: Company, Debt, Economy, Public Services
The BBC is planning to spend an extra £100m a year on its staff pension costs - more than the combined expense of both Radio 2 and Radio 3 - in order to fill its massive pension fund £2bn deficit. Benefits are certain to be cut - and strikes loom. Could the BBC approach be even copied by Cameron?
