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Credit Crunch News

Online banking gaining rapid momentum
Predictions are that the physical presence of high street bank branch will be a rare a usual sight as virtual banking become increasingly common place. Virtual banking is a "win-win: situation".

Darling warns that the end for Kamikaze bankers is nigh.
UK Chancellor Alistair Darling in an interview released over the weekend announced that an entirely new banking system is needed for the UK, to prevent a recurrence of financial institutions behaving in a "kamikaze" manner.

Ready to take your first steps into the property market- there is no reason to take them on your own.
The signs are that the UK property market is showing some fairly strong signs of recovery, and many families and individuals are checking out prices and financial terms to realise what still remains the dream of the average British family- to own a home of their own.

Don't think of your bank as your enemy- Regard them as your friend
Pity the person who has come of financial maturity of some sort over the last couple of years. Maybe they have just entered the job market, have left home to attend University or just to live with some friends,

Business owners! Now is the time to raise your heads and start looking for the best deals from your bankers.
Businesses that are still around despite the difficult times deserve a round of applause. They have proved a very important point to themselves as well as to the UK business community in general.

Stop feeling bad about having money in your savings account- the times are drawing closer when you will start to earn some interest.
When times got tough for the UK banking system towards the end of last year, it seemed that every week of so the Governor of the Bank of England was cutting interest rates yet again.

BOE says that good times are still not quite rolling for UK banks
The Bank of England announced before the weekend their prediction that not only the U.K. but all the major global banking systems will remain in a vulnerable position for some time, if there is a recurrence of economic and financial tensions.

King angry about being kept in the dark on banking regulations reform
Mervyn King blew into the open the lack of trust and rancour between the bank of England and the Treasury on Wednesday as he complained he had not been adequately consulted on Alistair Darling's plans for reform of banking regulations.

Will the banks be handing some money back?
It is almost three years since The Independent began its campaign against the unauthorised borrowing charges levied by almost every current account provider in the land, and now the case has reached the House of Lords

UK economy will be on flat line by Christmas
According to a report by the Confederation of British Industry, the UK economy won't start growing again until 2010. It also seems likely that in order to keep the recovery on track, the Bank of England may need to expand its money-printing plan.

G8, allows themselves a pat on the back
All the signs are in place that the recession has begin to unwind, with stock markets were rising, interest rates remaining stable, and consumer confidence begin to pick up.

How to live with a credit card in the post-depression era
Whilst it is easy to gain the government and the banks for the financial quagmire that the UK succeeded in sinking itself in, the public also have to be levied a portion of the blame.

Doing business online may be the savior of small companies
How many times have you heard the sad story of a company that was set up around a few good ideas, talented, innovative and hard working people who had very little working capital.

Property market looking increasingly stable.
That air of cautious optimism that the UK can't seem to shake off despite all that is going on around them seems to be continuing. Recent reports have a "significant increase" in interest from potential home buyers.

No matter what, I'm  going down with you, Darling tells Gordon
Economist doesn't often agree with U.K. Prime Minister Gordon Brown's every decision, but on Friday there was a consensus that to keep Chancellor of the Exchequer Alistair Darling at the treasury was a wise one.

Get used to it: Santander is here to stay
Some might say deservedly, buts some of Britain's best known banking brands will be removed from the UK's high street, on news that Santander, the Spanish bank who first set foot in the UK market with the purchase of Santander

U.K. house prices will only drop in 2009
During these troubled times for the property market, the Nationwide Building Society have risen to become the largest U.K. customer-owned lender, and when they talk, people are inclined to listen. Even though the news might be difficult to bear.

Beware Corporate Britain! The intervenist shareholder is back
There was a not so silent revolt at Shell last week, signalling the growth of a long overdue trend of discontented shareholders

Virgin demonstrates that forward planning brings profit
Officials at BA as well as most of all the major carriers must be scratching their heads in disbelief and asking themselves" How did they manage to do that?"

Another inevitability crammed in between taxes and death
Something that was hovering in the air for a long time, and has been swept under the carpet a little as a result of the ongoing credit crunch is the fact that most UK citizens can afford to become old or worse still, to retire

Mike Ashley counts the cost of mixing pleasure with business
Controversial sportswear retailer Mike Ashley, who followed every schoolboy's dream to own the football club that he loved and supported, has just discovered that sometimes these kinds of dreams can be expensive.

Darling announces that interest rates will remain low for the time being
Chancellor of the Exchequer Alistair Darling is doing all that he can to create an atmosphere of " business as usual "/ One of his measures announced yesterday is to allow interest rates to remain at the current and unprecedented low levels

Has London lost her right to be known as the World's most stable financial center?
Estimates have it that by next year, the U.K. will have the unfortunate distinction of being the holder of the largest budget deficit in the developed world, almost entirely reversing the country's hard earned status as the role model of a successful and wealthy financial services epicenter.

Has the recovery really begun, or are we just fooling ourselves?
Just as the financial community in the UK were apparently taken by surprise by the global economic turndown and the ferocity of its extent, they seem equally nonplussed by if, when and how it will end.

The "Old Lady" shows UK banks the real meaning of the word profit
Bank of England profits soared to nearly £1bn last year on the back of operations supporting the financial sector.

A good day to be British as the FTSE shoots up, and property repossessions are down.
It might only be the good old co-op, but a touch of humility none the less. The Co-operative Bank announced that they halved home repossessions during the last 16 months.

The weak pound makes the UK look good for foreign investment
Who was it that said that every cloud has a silver lining? It would appear that the very large cloud that has been hanging over the UK property market for the last 20 months or so may be beginning to dissipate.

2009 to hold its challenges for the building societies
Harrogate in the North of England is almost a nice place to spend a few days. Their stay might be slightly less than pleasant for the chief executives of the UK's building society sector who are due to gather there for their annual industry conference in Harrogate.

Someone forgot to tell Darling to lock the gates when he slapped on a 50% tax rate
The UK treasury might have been labouring under the misconception that loyalty to the flag would entice some of the UK's wealthy to set their personal welfare and desire to get even richer aside,

Manufacturing output on the way down meets retail sales on the way up
It was a day of mixed statistics yesterday in the UK, where it was announced that manufacturing output had declined by 5.5% in the first three months of 2009, the highest quarterly fall since records began in 1948.

Whisper it!  Confidence within the UK business community is returning
Like a phoenix slowly rising from the ashes of the worst recession in close to seventy years, recent reports have it that the U.K. business community is beginning to regain some of its confidence for the future.

Public sector job cuts begin to grow
The much hammered private sector will still lead the way both in terms of redundancies as well as lack of new employment opportunities; however the public sector is beginning to feel a similar pinch.

RBS are doing better- but still have a long way to go
In the strange times in which we are forced to live in, when it is considered a major achievement to only make losses of £160 million in a quarter seems to be beyond imagination.

Barclays Bank announce a great first quarter of 2009
Barclays Bank revival seems to be gathering full speed with the news that the bank have made a considerable rise in profits for the first quarter of 2009, a quarter

UK public beginning to feel the positive (and negative) effects of interest rate cuts in their mortgages
Well the news is that these savings are beginning to filter through, and the reduction in their monthly mortgage and overdraft payments are being welcomed with both hands by most home owners in the United Kingdom.

Is Great Britain on the way to a new industrial revolution?
The UK financial sector has lost so much of its credibility in the recent past, and there are serious doubts that it will gain its strength and standing for years if not decades to come. And there are those who say that it is not a bad thing

Its Malaysia to the rescue in a last minute LDV buyout
In a move that was as dramatic as it was unexpected, the UK government made a sudden turnaround on their declaration that they will not be sinking any more funds into LDV, the stricken Midlands light van manufacturing plant.

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