Credit Crunch News

The Gordon Brown road show hits Brazil 
Ostensibly to gather support and unify global efforts to get to grips with the global economic crisis but more likely in a move to get away from the increasingly angry UK taxpayer, Prime Minister Gordon Brown hit the Copacabana beach in Brazil today.

Energy suppliers have the heat turned on
A recently code of practice providing a whole new list of conditions designed to protect the interest of consumers and members of the business community will protect against well know "gypping" practices initiated by energy companies, particularly price discrimination against customers in the lower income bracket.

Inflation is back- and nobody can understand why
Governor of the Bank of England, Mervyn King was left with some egg on his chin yesterday when February's inflation figures were announced yesterday. Instead of the expected inflation rate of 2.6%, representing a decrease of 0.4% from January,

Making the best of a bad situation- will the UK build their way out of the current economic crisis
While many financial experts shy clear of comparing the first major global financial crisis of the 21st century to the great depression of the nineteen thirties, one comparison that will soon be inescapably drawn is the Western World's growing initiative to invest money in creating jobs through the initiation and financing major infrastructure projects. 

Inflation rates continue to fall in UK
Official data due to be released today is expected to show the annual rate of consumer price inflation reaching 2.6 percent in February, down 0.4 percent from the previous month and standing at the lowest rate for almost a year.

UK 2009: Coming to terms with a life void of interest
While most of the not so long ago "upwardly mobile" families are clinging on to logs that seem to be floating rapidly towards a torrent, the baby boomer generation are finding themselves facing an even bleaker future.

A further 90 billion pounds boost needed to keep the UK economy afloat- and that’s just for this week
Whether these 90 billion pounds is part of the 180 billion pounds that a group of economists from the private sector announced that the UK economy will add to their debt levels remains unclear.

It's time to face the music for Northern Rock 
When the history books are written on what caused the first (and hopefully the last) global financial crisis of the 21st century, what will undoubtedly will be regarded as the "kick off" point in the UK will be the sudden and dramatic collapse of the Northern Rock Building Society.

Are we half way through the tunnel yet?
Picture the scene. Alistair and Gordon driving a car through a tunnel. And it is a pretty big car. It needs to be, because it has the entire population of the British Isles in the back. Around 65 million people.

Wake up! UK property prices actually took a hike in January
Against all forecasts, house prices in Great Britain rose in January, largely driven by a jump in reported demand for detached properties. According to the Department of Communities and Local Government,

Bonus hungry bankers: soon to be a thing of the past?
The basis of the FSA's proposal will be to disallow banks for passing agreed lending limits during falsely titled " boom years", therefore pushing borrowing levels up and at the same time prices,

Is the party finally over for credit card industry? 
At one time, before the credit crunch implosion was ever thought of, credit cards seemed liked a really good idea. And the truth is, it still is. If placed in the proper hands.

Prime Minister Brown finally admits it
GORDON Brown, speaking after talks held with European Commission President Jose Manuel Barroso, was heard to admit that the UK's regulatory system was now "outdated" and had failed to keep up with changes in the fast-moving banking sector.

Barclays in last minute sell off to avoid government intervention
Whilst the management team at Barclays Plc continue to vehemently deny reports that they are very interested in offloading their fund management division, San Francisco-based iShares, 

UK inspection team visits the Cayman Island in the search for transparency
Signs that Prime Minister Gordon Brown's mission to clear up the Global Tax Havens is gaining impetus was the visit of a UK inspection team to the mother of all tax havens, the Cayman Islands. The team led by Michael Foot,

Beating the recession: It's all down to the G20
A preview of the upcoming G20 meeting held over the weekend further reiterated the key economic players assertion of how important the meeting, to be held next month in London will be to set the global economic climate back on track.

UK economy expected to get even worse-before it gets better
If you thought that things in the UK couldn't get any worse, then it would appear that you might be wrong. At least so the experts say.

Still no easy paths to finance for first time home buyers
Despite the strenuous efforts of the UK treasury to push the banks to ease credit conditions for first-time buyers and those trying to upgrade but with limited equity are finding it difficult to raise finance

Spare a thought for Richard, Bill and don’t forget Roman
The average UK citizen has been ravaged by the current financial situation and spend a lot of the time trying just to make ends meet till things get back to normal. 

Lets push the global economy says Darling and Geithner 
At the same time, the two global powers agreed to coordinate their efforts to create a whole new set of legislature designed to prevent financial crises of such a magnitude from ever occurring in the future.

Jersey: no longer the tax haven that it was
The beautiful island of Jersey, for so long identified as the number one tax haven for Brits, is to mark an end to decades of sheltering those who are not so keen on paying their income taxes

Good news for Scottish home buyers as RBS agrees to release mortgage funds.
Scottish Secretary, Jim Murphy was equally heartened by the news stating that it is the first positive indication that the government's actions to return stability to the banking sector were starting to bear fruit.

Ups and downs on the High Street
British stores' contrasting fortunes in the economic downturn are due to be revealed in the not too distant future when their annual statements are made public on the FTSE

For the 'lucky few' who have money in the bank, interest rates hit all time lows.
In a time where just about anything is possible in the banking World, there might even be a scenario unfolding where banks will begin to charge their customers a storage fee for keeping their money on deposit.

UK tops the list – for bank bailouts!
Great Britain tops the list of countries as far as percentage bailouts to banks will please no one. According to a recent report by the by the International Monetary Fund, Chancellor Alistair Darling has already overseen funding equivalent to 20% of the U.K.s anticipated GDP for 2009.

Treasury rescue plan for Lloyds announced today
The bank's board is expected to meet today to consider a Treasury rescue plan that could see the UK taxpayer take a 70 per cent stake in the floundering bank.

It's not all doom and gloom in the UK
It would appear that the entrepreneurial spirit that has typified UK business has not been dampened by the current difficult times,

Further cuts in UK interest rates expected to be announced today
In yet another attempt to kick start the British economy, it is expected that the Bank of England will announce yet another cut in interest rates today.

US liquidators of Lehman Brothers begin to ask Barclays some uncomfortable questions
Liquidators of the bankrupt Wall Street merchant bankers, Lehman Brothers have posed some questions to Barclays Bank Plc that may cause the bank no little discomfort.

Why is the UK Government putting so much into saving the banks and not the man in the street?
There must be no small number of UK citizens who are slowly sinking in a sea of debt and asking themselves" what did I do wrong?"

A hint of something fishy in the air? Iceland freezes threat to UK over assets
There must have been sighs of relief all over Whitehall yesterday on the news that the freshly elected Icelandic government had announced their decision to take the UK government to the European Court of Human Rights,

LDV: on their last legs?
LDV who have failed to show a profit since 2004have been competing against Ford's Transit van since their founding and have come out bruised and battered every year.

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