Banking crisis could show loses of £800 billion
At lot has been said about the credit crunch, but in reality this may be revised to a credit crisis! As warnings are coming out that banks worldwide are bracing themselves for a series of massive loses.
The problem is that some people would be inclined to say that it’s their own faults and get on [...]
Bad News: Oil hits $130 a barrel!
As if things were not bad enough for everyone the price of a barrel of oil has now reached the heady heights of $130, meaning that the price of fuel is going to be more expensive as well as everything associated with it.
So it not only means that petrol goes up, but because food and [...]
Job cuts in Finance sector
With news coming across from the states saying that around 20,000 jobs could be at risk in the financial services sector, it is only natural that we in the UK should be concerned as what happens there normally drifts across the water and affects here.
Unfortunately in this case the trend has remained true, and according [...]
Banks looking to borrow £23 billion
The UK banks are looking to borrow anything up to £23 billion from the Bank of England in emergency loans, which just show the extent of the financial pressures being forced upon them by the crisis in the states.
The trouble that the banks are having at the moment is that it costs too much to [...]
Banks move to change mortgages
Normally you would expect to see mortgage lenders falling over themselves these days to grab what little amount of mortgage business that is out there. But it seems that the credit crisis has had a lasting effect on the lenders who are currently reviewing the whole process. In the mean time many lenders are actually [...]