Category: News
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 [...]
IMF – Hong Kong Faces Potential Recession If European Crisis Continues
Hong Kong’s “rapid” credit growth has increased the risk that banks make bad loans as the city faces a potential recession if the European crisis deepens, the International Monetary Fund said. “Credit has been growing at an extraordinary pace, particularly for loans in foreign currency,” the IMF said in a report released today. Such growth [...]
Cheque Guarantee Card’s Restored As MP’s Backed Plans For It’s Return
Banks should bring back the cheque guarantee card to save the cheque from dying out, an influential group of MPs demanded yesterday. In a victory for the Daily Mail, industry trade body the Payments Council was told to restore confidence in cheques by reintroducing the cards which guaranteed payments up to a certain amount. The [...]
Bank Woes – Job Cuts For HSBC And RBS Employees As Profits Dwindles.
The Euro debt crisis appears to be forcing banks to accelerate efficiency savings as profits from investment banking dwindles. The Telegraph reports on job cuts at two of the UK’s leviathon banks, HSBC and RBS. HSBC has long made it clear that thousands of jobs would go, now according to the Telegraph we’re seeing the [...]
Basic Financial Planning – How To Better Manage Your Finance
It is easy to discuss financial planning in general terms. However, just as words have different meanings to different people, so does financial planning. There are some ideas that never vary. When discussing financial planning, the objective is to maximize wealth. Maximizing wealth does not mean a person has to become rich first. It also [...]
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. [...]
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 [...]
Computer Glitch Leaves Natwest Customers Unable To Access Their Accounts
A computer crash sparked anger and frustration for millions of bank customers yesterday. NatWest and Royal Bank of Scotland’s online and telephone banking service failed, making it impossible for up to 15?million customers to access accounts. On Friday, HSBC also suffered a computer meltdown that put its cash machines out of action and blocked debit [...]
HSBC Suffers Nationwide Crash – Customers Take To Twitter To Voice Opinion’s
HSBC was today hit by a nationwide systems crash thought to have affected millions of customers. The bank’s cash machines, branches, debit cards, and internet banking services all stopped working at 2.45pm after a computer glitch. The outage lasted more than two hours, with frantic HSBC staff finally finding a fix at 4.50pm. Earlier, a [...]
Egyptian Government Are Hoping To Overcome Public’s Opposition To Foreign Loans
Egyptian government officials are campaigning to overcome public opposition to foreign loans as they seek to reduce the highest borrowing costs since 2008. It won’t be easy. Finance Minister Hazem El Beblawi said on Oct. 26 Egypt needs an “urgent liquidity injection” to help finance the budget deficit. Relying on domestic lenders for funding reduces [...]
