Category: Loans
HP Loses $190 million In Tax Case Against IRS
Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million (118 million pounds) in tax refunds tied to a Dutch tax shelter designed by the derivatives arm of American International Group. The ruling turns a spotlight on an aggressive tax-cutting strategy created last decade by AIG Financial [...]
Small Business In Dire State Due To High Rates And Low Lending
Small firms are being crippled by the highest rates of interest for more than three years – and lending is still plunging, the Bank of England said yesterday. The Bank’s figures, described by one expert as horrific, highlight the nightmare facing small firms which urgently need money to survive or expand. Its authoritative report reveals [...]
Loans
There are several types of loans available. To name just a few: unsecured loans, secured loans, car loans and debt consolidation loans. A loan is a type of credit – and therefore it must be repaid. Repayments are usually made on a monthly basis, and will continue until the loan (plus any interest) [...]
Borrower’s Rates Are Set To Increase – Home Owners Urged To Act Now
The only thing we can be certain of right now is that we have an uncertain financial future. But with the eurozone crisis and concerns that we could face a second credit crunch, do homeowners need to act now before it is too late? Many aspects of the property and mortgage market have been encouraging [...]
Northern Rock Bank Sold To Virgin Money For £747m
Bailed-out bank Northern Rock is to be sold to Virgin Money for £747million with a loss of at least £400million to the taxpayer. Despite repeated assurances that the public purse would not be left out of pocket, the Treasury today confirmed that Sir Richard Branson’s company would be buying the firm at a knockdown price. [...]
British Banks Struggles To Raise Funds For Loans
Fears of a further credit crunch intensified last night after a stark warning that British banks are struggling to raise money for loans to households and businesses. The Bank of England said the crisis in the eurozone and slowdown in the global economy have deprived UK lenders of access to vital funds. Britain has a [...]
Families Burdened By Soaring Cost Of Living Couple With Debts And Loans
About 52 per cent of families have unsecured debts, including loans, credit cards and overdrafts, which amount to £10,604 on average, according to Aviva. This debt figure is just under half the average annual household income of £23,796. Families are putting aside only about £19 a month in savings after having their budgets squeezed by [...]
EU Raises €3bn From Bond Market To Help Fund Bailout
Europe’s rescue fund has raised €3bn in the bond markets to fund the next tranche of Ireland’s bailout. The money will be handed over to the Government on Thursday. The European Financial Stability Facility (EFSF) was forced to pay slightly more to lenders to make the funds available because of the eurozone’s worsening debt crisis. [...]
Euro zone – The Crisis Continues
With Europe’s banks accounting for almost two thirds of the foreign lending to global emerging markets, the fear is their retrenchment could drain those economies set to provide about 70 percent of world growth next year. This latest so-called “negative feedback loop” from the euro zone sovereign debt crisis is yet another potentially damaging blow [...]
Community Heating Projects To Receive £1.9m In Loan Funds
Loans worth £1.9 million have been announced to help community heating projects. The district schemes will heat about 280 homes and are expected to save more than 68,000 tonnes of carbon dioxide over 25 years. It is part of a pilot project open to councils, housing associations, small businesses and energy service companies. All nine [...]
