Category: News
Cyber Crime – Stolen Credit Card Details Can Be Bought Online
Stolen credit card details can be bought online for less than the price of a bag of chips, it has been revealed. There are more than 150 websites offering illegally obtained information, according to government research. Many of them offer for sale details belonging to between 20,000 and 100,000 people worldwide at any one time [...]
Economic Crisis – China Warns Europe Not To Count On Them For Financial Aid
Hopes that China will ride to the rescue of the single currency were dealt a blow last night after Beijing warned that it will not be Europe’s ‘saviour’. State-run news agency Xinhua said the country cannot ‘provide a cure for the European malaise’. It came after European officials begged China for bailout funds to help [...]
Germans Windfall – £48 Billion “Bonus” Went Undetected Due To Complex Financial System
It is the government equivalent of finding a £10 note down the back of the sofa – a stroke of luck which Chancellor George Osborne would welcome. The Germans are celebrating the discovery of a £48?billion ‘bonus’ lurking undetected in one of its bailed-out banks. The money, which would be enough to build nearly 10,000 [...]
Payday Loans – What We Want vs What We Need
One of the main reasons why many Brits resort to punishingly expensive payday loans is to ensure they don’t ‘miss out on a bargain’, I learned today. Yes, according to payday loan firm Ferratum more and more ‘cash-strapped shopaholics’ are turning to the ‘financial phenomenon’ that is the payday loan to treat themselves to a [...]
What You Need To Know About Reloadable Prepaid Card
It looks like a credit card and spends like a debit card. But a reloadable prepaid card is in a class by itself. Sometimes called “prepaid debit cards,” or (less correctly) “prepaid credit cards,” reloadable prepaid cards are an exploding market. Consumers loaded $40.85 billion onto the cards in 2010 up 43 percent from the [...]
European Banks Needs €108bn To Lift Their Capital
European banks will be told to move their capital ratios up to 9 per cent by the end of June 2012, according to EU officials. But doubts remain about whether this will be sufficient to convince markets of the solvency of the continent’s financial sector. The European Banking Authority has calculated that European banks need [...]
Dubai – Drydocks World Sued For $45.5m Over Loan Default
Drydocks World, the ship repair unit of state-owned conglomerate Dubai World, is being sued by a US hedge fund for the repayment of $45.5m, it was reported Monday. US-based hedge fund Monarch Alternative Capital is suing Drydock World after talks to resolve around $2.2bn worth of debt broke down, the Financial Times reported. The action [...]
Borrowing Expert – Boris Johnson’s Constant Borrowing Reaches It’s Limit
Boris Johnson loves to paint himself as a financially responsible politician, freezing his share of the council tax while driving down costs to avoid the sort of financial “black hole” he accuses his predecessor of leaving behind. Coalition austerity measures have allowed Boris to come out against cuts to London’s budgets without the wider media [...]
HMRC Concealing Vital Information From Taxpayers
Money Mail has uncovered evidence that suggests HM Revenue & Customs is hiding mistakes and concealing vital information from taxpayers. A damning internal memo lays bare for the first time the secret decision-making process HMRC uses when dealing with appeals for leniency from people facing unexpected tax bills. The document seen by Money Mail reveals [...]
Halifax Accused Of Encouraging Credit Binge – Triggers Deeper Debt Crisis
The Halifax was accused of irresponsibility last night for encouraging hard-up families to go on a credit binge. The bank, which is 41 per cent owned by the taxpayer, has sent letters to its customers this week urging them to take out cash on their cards. It promises that it will take only one quick [...]
