PM says rescue plan will provide ’sounder footing’ for financial system
October 31, 2008
Speaking following the announcement of the financial market rescue plan that has been proposed recently by the government in the UK, the Prime Minister, Gordon Brown, has said that the aim of the plan is to try and get the UK’s financial system back onto a sounder footing following the turmoil that has been experienced [...]
Petrol prices coming down at last
October 31, 2008
Over the past week drivers in the UK have been delighted to see the price of petrol and diesel and the pumps coming down at last, following a lengthy delay after the price of oil fell by close to 50% a barrel. Led by supermarket giants such as Morrison’s and Tesco, petrol prices have now [...]
Not enough competition in PPI sales
October 31, 2008
According to recent reports industry officials are claiming that there is not enough competition when it comes to the sale of Payment Protection Insurance, or PPI. The criticism has come from officials from the Competition Commission, and comes after a flood of complaints from consumers.
The Competition Commission found that there was very little competition amongst [...]
Misery for charities over Icelandic banks
October 30, 2008
The collapse of popular Icelandic banks including Icesave and Kaupthing Edge recently has resulted in misery for many charities, as many had put substantial sums of money into the high interest accounts being offered by these banks in order to make the most of the money for the charities. Many charities fear that they may [...]
Merger between Yorkshire and Barnsley building societies
October 30, 2008
In a recent announcement two building societies have announced that they will be merging, but have said that there will be no resulting windfall for customers of either building society. The merger is to take place between the Yorkshire Building Society and the Barnsley Building Society.
Barnsley Building Society is said to have suffered possible losses [...]
Interest rates could hit 2% in a year
October 30, 2008
Industry experts have predicted that although inflation has hit a sixteen year high at 5.2 percent, the Bank of England will cut the base rate again before Christmas, with another cut of 0.5%. The central banks already cut rates by 0.5% recently a day ahead of the scheduled Monetary Policy Committee meeting where rates are [...]
Inflation soars again
October 29, 2008
Inflation levels for the months of September soared again according to government figures, with inflation reaching 5.2%, which is its highest level in sixteen years. Inflation has been rocketing for some time now, and has spiralled way higher than the 2% target that has been set by the government.
Officials have said that amongst the factors [...]
Increasing number of people seeking debt advice
October 29, 2008
Recent figures have shown that amidst the turmoil and chaos that has been gripping the financial markets over recent months an increasing number of consumers have been turning to industry professional in order to seek advice about their debts.
The figures from the Citizen’s Advice Bureau, and officials have said that the number of people [...]
Huge fall in new car registrations
October 29, 2008
According to recent report there has been a huge fall in the number of new car registrations, as consumers battle to try and weather the effects of the global credit crunch and the slowing economy. The Society of Motor Manufacturers and Traders (SMMT) has announced that September saw new car registrations fall by a massive [...]
How can you cut the cost of your outgoings?
October 28, 2008
All sorts of industry groups and government officials, including the Governor of the Bank of England, Mervyn King, and the Chancellor of the Exchequer, Alistair Darling, have warned that consumers in Britain have a very tough time ahead of them in terms of their finances. Household finances amongst families in the UK have been seriously [...]
