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....Amec was due to raise £500m through a rights issue next week, although this has now been suspended. The funds were due to be used to reduce its £1bn debt pile and for a reorganisation of the company. ... [Read full article on BBC ]
Monday 13th of March 2017 08:32:01 AM
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.... One company would then “default” on the loan. Judges would certify the “debt” as authentic, allowing the Russian businesses to send cash to an account in Moldova. ... [Read full article on Guardian ]
Monday 20th of March 2017 06:00:24 PM
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.... . Derivatives are financial contracts that let two parties bet on something else - perhaps exchange rate fluctuations, or whether a debt will be repaid. ... [Read full article on BBC ]
Monday 20th of March 2017 12:02:25 AM
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....The simple reason is that there are too many ships for too little cargo. The most dramatic casualty was South Korean group Hanjin, which collapsed last August weighed down by debts. ... [Read full article on BBC ]
Wednesday 1st of March 2017 12:07:40 AM
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...."It is a woefully inadequate response to the impossible pressure the NHS and care services are under," Norman Lamb, the party's health spokesman, said. UKIP MP Douglas Carswell criticised what he called an "attack" on self-employed people through National Insurance rates, and said the Budget was not "fundamentally sorting out the biggest problem we face", the UK's debt. ... [Read full article on BBC ]
Tuesday 7th of March 2017 10:33:24 PM
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.... The companies made fictitious loans to each other, underwritten by Russian businesses. The companies would default on these “debts”. ... [Read full article on Guardian ]
Tuesday 21st of March 2017 07:00:14 PM
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....If it's only bank accounts, that's one thing but you worry they might have signed up to websites or applied for a passport, he says. It's a mixture of anger for the person who has defrauded you, and fear for whether the bank in question is going to try and call in that debt that you didn't build up, he adds. ... [Read full article on BBC ]
Wednesday 15th of March 2017 01:00:52 AM
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....It has been reported that the firm linked to Mr Ashley paid around £25m after seeing off competition from private equity firm Lion Capital. The lingerie firm was sold via a so called "pre-pack deal" - that means a buyer is lined up to buy the assets of a company, but crucially not its liabilities, such as its debt and pension deficit. ... [Read full article on BBC ]
Thursday 2nd of March 2017 04:27:32 PM
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.... (One of its four Manhattan stores is located on the Bowery, next to the former location of the punk club CBGB, which is now a John Varvatos boutique. ) It prides itself on pushing up against the limits of how ethical a company can be while actually still selling things: quality goods, ethical labour and manufacturing, no debt, even a tax strategy, according to Chouinard’s book, “to pay our fair share and not a penny more”. ... [Read full article on Guardian ]
Tuesday 7th of March 2017 06:00:34 AM
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....The two sides have made no bones about the fact the merger would create a company with a powerful presence in key markets, and have offered a number of sops to competition authorities in an attempt to win their approval. But it was not enough; Brussels insisted the LSE cede control of MTS, an important Italian clearing house with a crucial role in the trading of Italian government debt. ... [Read full article on BBC ]
Sunday 26th of February 2017 11:27:20 PM
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....”. However councils still struggle with the national political restraint on local authority borrowing to build homes because it counts towards public sector deficit and national debt figures. ... [Read full article on Guardian ]
Saturday 25th of March 2017 07:00:02 AM
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....And in a veiled reference to US President Donald Trump's complaints about China's exchange rate and trade policies, Mr Li warned of a far more complicated global picture in the year ahead with China facing the threat of growing protectionism. NPC leaders are tolerating slightly slower economic growth this year to give them more room to push through some painful reforms to deal with a rapid build-up in debt, Reuters news agency reports. ... [Read full article on BBC ]
Sunday 5th of March 2017 06:03:01 AM
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. After three or four years of study, many students will look with resignation at bank statements showing them thousands of pounds in debt. ... [Read full article on Guardian ]
Monday 27th of February 2017 09:28:35 AM
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....He also said he would spend "big" on infrastructure like roads and rails, but he has not yet revealed his tax plans. Mr Trump pledged to cut taxes during his presidential campaign, which would probably add to the national debt, a figure that could hit $20 trillion on his watch. ... [Read full article on BBC ]
Monday 27th of February 2017 09:03:25 PM
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.... But low interest rates have delivered lower returns for the scheme’s investments and it had a deficit of £479m in March this year. Partly because of this deficit, the group’s total debts have increased to more than four times its annual cash flow. ... [Read full article on Guardian ]
Friday 10th of March 2017 07:16:34 AM
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.... Local people have to be kept happy and that costs money, which these places don’t have. Singapore has national debt of more than 100% of GDP, which is much more than the UK. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 06:30:42 PM
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. The banks and financial regulators should do more to tackle the vicious cycle of debt and overcharging, says a Lords committee. ... [Read full article on BBC ]
Saturday 25th of March 2017 12:08:14 AM
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. Some bailiffs are still abusing their powers when trying to recover debts, despite changes to the law three years ago, say debt advice charities. ... [Read full article on BBC ]
Tuesday 14th of March 2017 12:03:59 AM
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....George Salmon, equity analyst at Hargreaves Lansdown, said Foxtons was "bearing the brunt of the troubles facing the London property market". He said that while investors could take comfort Foxton's lack of debt and the reliability of its rental business, "sales dropped sharply in the second half of 2016, and the early indications are that this trend is continuing into 2017". ... [Read full article on BBC ]
Wednesday 8th of March 2017 08:06:35 AM
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....Alteri has been in negotiations to sell the business and is understood to have received credible offers. However, filing the administration notice protects the retailer from creditors looking to recover debts. ... [Read full article on Guardian ]
Tuesday 14th of March 2017 08:09:59 PM
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....Writing in the Sunday Times, he said that calls for "massive borrowing to fund huge spending sprees" were "reckless, unsustainable and unfair on our young people who would be left to deal with the consequences". Public sector net debt - not including public sector banks - was £1. ... [Read full article on BBC ]
Sunday 5th of March 2017 02:20:28 AM
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.... . "How the year pans out will depend heavily upon consumers' willingness to draw on savings or take on more debt," he said. ... [Read full article on BBC ]
Thursday 23rd of March 2017 10:14:20 AM
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Thursday 2nd of March 2017 09:26:13 AM
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.... . It is returning to the stock market three years after its parent company sold half the business to pay debts. ... [Read full article on BBC ]
Thursday 23rd of March 2017 04:41:24 PM
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....”. Shell’s disposal of the tar sands interests is part of wider plan to offload $30bn (£25bn) worth of assets to cut debt following its acquisition of BG Group last year as it comes under investor pressure to mitigate climate change risks. ... [Read full article on Guardian ]
Friday 10th of March 2017 01:18:53 AM
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. Overdraft charges are "the elephant in the room" as not enough has been done to tackle subsequent debt problems, a committee of MPs has said. ... [Read full article on BBC ]
Wednesday 1st of March 2017 02:41:57 PM
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....The deal has been completed through a pre-pack administration, whereby a business is placed into insolvency proceedings and its assets are immediately acquired by a new owner. Pre-packs have been heavily criticised because they allow the business to shed its debts to creditors, which can include suppliers and the taxman. ... [Read full article on Guardian ]
Thursday 2nd of March 2017 12:46:56 PM
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....On one measure, Mr Haldane said, total factor productivity had shown its longest stagnation in more than 200 years. Low interest rates had probably played a role by keeping some heavily indebted, unproductive "zombie" businesses alive, he said. ... [Read full article on BBC ]
Monday 20th of March 2017 08:03:10 PM
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.... A rise in the Fed funds rate would also increase the cost of borrowing. When the Fed first hinted in 2013 that it planned to stop pumping funds into the financial system, the prospect of higher borrowing costs for those holding dollar debts spooked the bond markets. ... [Read full article on Guardian ]
Tuesday 14th of March 2017 07:08:31 PM
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.... Record numbers of care homes are already closing and more than 400 care home businesses have been declared insolvent since 2010, official figures show. Critics of the industry claim it is financial difficultly due to private companies racking up huge debts and failing to invest. ... [Read full article on Guardian ]
Tuesday 7th of March 2017 07:00:36 AM
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Latest Finance News related to Debt

How one council is beating Britain's housing crisis image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:02 AM
....”. However councils still struggle with the national political restraint on local authority borrowing to build homes because it counts towards public sector deficit and national debt figures. ...
High cost credit products must be tackled, say Lords image
Source : BBC [Read Article] Saturday 25th of March 2017 12:08:14 AM
. The banks and financial regulators should do more to tackle the vicious cycle of debt and overcharging, says a Lords committee. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
....But other sources close to the Co-op said the reports of a break-up are being driven by funds with an agenda to grab the bank’s assets on the cheap. Breaking up the bank, into a “good bank” and a “bad bank” holding most of the bad debts, would enable bidders from specialist banks to purchase parcels of loans and customers. ...
1,100 Jones Bootmaker jobs at risk as private equity deal collapses image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:39:45 PM
....One source said the Endless deal collapsed only hours before completion as Alteri wanted £1m more than the £10m offered. Alteri has been in negotiations to sell Jones for several weeks but filed a notice of intention to appoint administrators last week, which protected the retailer from creditors seeking to recover debts for a limited period. ...
Eddie Stobart: Lorry firm targets £550m stock market listing image
Source : BBC [Read Article] Thursday 23rd of March 2017 04:41:24 PM
.... . It is returning to the stock market three years after its parent company sold half the business to pay debts. ...
Higher fuel prices take toll on retail sales image
Source : BBC [Read Article] Thursday 23rd of March 2017 10:14:20 AM
.... . "How the year pans out will depend heavily upon consumers' willingness to draw on savings or take on more debt," he said. ...
The Trump bump for shares is dented – but watch where the oil price goes | Nils Pratley image
....3m penalty will impress Thames shareholders – a crew of infrastructure and sovereign wealth funds who have done splendidly over their decade of ownership – he needs to raise his sights. Thames Water Utilities, the debt-laden operating company that sits under various holding companies, incurred net finance expenses of £257m in its last financial year, but still made a £511m profit before tax. ...
Why becoming a tax haven would be bad news for Britain image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:30:42 PM
.... Local people have to be kept happy and that costs money, which these places don’t have. Singapore has national debt of more than 100% of GDP, which is much more than the UK. ...
Shoe retailer Brantano goes into administration with 1,000 jobs at risk image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 05:41:07 PM
....Brantano is not the first British retail group to collapse under the control of Alteri, a group backed by US private equity firm Apollo Global Management. Last year tailoring specialist Austin Reed went into administration soon after Alteri bought its debt. ...
Bank that lent $300m to Trump linked to Russian money laundering scam image
Source : Guardian [Read Article] Tuesday 21st of March 2017 07:00:14 PM
.... The companies made fictitious loans to each other, underwritten by Russian businesses. The companies would default on these “debts”. ...
Low UK interest rates 'hurt productivity but saved jobs' image
Source : BBC [Read Article] Monday 20th of March 2017 08:03:10 PM
....On one measure, Mr Haldane said, total factor productivity had shown its longest stagnation in more than 200 years. Low interest rates had probably played a role by keeping some heavily indebted, unproductive "zombie" businesses alive, he said. ...
Blurred lines? image
Source : BBC [Read Article] Monday 20th of March 2017 12:02:25 AM
.... . Derivatives are financial contracts that let two parties bet on something else - perhaps exchange rate fluctuations, or whether a debt will be repaid. ...
Aberdeen wrestles with hard choices as independence looms again image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
.... Since the oil slump, I think it’s clear those arguments were not sound,” says the Scottish Labour councillor. Callum McCaig – the SNP MP who drew laughter from colleagues and a stony face from Theresa May at PMQs last week when he asked if the UK could afford to be an independent country given its debt – rejected the idea that the fiscal and economic case no longer adds up. ...
'Brothers bling': lawsuit puts Nick and Christian Candy in spotlight image
Source : Guardian [Read Article] Saturday 18th of March 2017 09:00:35 AM
.... The brothers deny all the allegations. Holyoake alleges that he was told by Nick during a phone call that his brother had decided to sell the loan to Russian debt collectors who would not think twice about “seriously fucking hurting you”, adding: “you don’t want to have your legs broken”. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... But according to one of the UK’s top fund management groups, both are among the most overpriced shares on Wall Street, a stock market that under President Trump is – to use a phrase he rather likes – one of the most overrated in the world. We are at a strange juncture in financial history, with a madman in the White House, Britain breaking itself into pieces, interest rates on the march up (in the US at least), the economy barely bigger than it was a decade ago, Greece in desperate straits and global debt at eye-watering levels. ...
Seven ways to teach your kids about money image
Source : Guardian [Read Article] Saturday 18th of March 2017 06:30:31 AM
.... If they head off to college, this is theoretically when all those years of training kick in and they leave with a full understanding of the value of money, how to save and the need to budget. In reality, the first instalment of a student loan will make the majority feel recklessly rich, and telling them they will probably graduate with a debt of more than £40,000 will mean absolutely nothing. ...
If big business is to thrive, it needs a strong welfare state | Phil McDuff image
.... Just keep beating people until they realise the real economic growth was inside them all along. But if we want a flexible, entrepreneurial economy, the last thing you want is for everyone to be desperately scrambling from low-paid job to low-paid job, weighed down with crippling debts. ...
FTSE 100 closes at another record high image
Source : BBC [Read Article] Friday 17th of March 2017 08:52:07 AM
....In the FTSE 250, shares in Tullow Oil slumped by 14% on news of a rights issue. Tullow said it was planning to raise about £607m through the share sale in order to cut its debts. ...
Canada Goose shares jump on stock market debut image
Source : BBC [Read Article] Thursday 16th of March 2017 04:50:44 PM
....78 per share. It raised $256m (£207m) from the share sale which will go towards paying down debt. ...
Interest-only mortgage deals: Bank to help 100,000s borrowers with new change image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 02:15:00 PM
....The little known lender hopes the new loan could shake up the mainstream mortgage market, which imposes arbitrary age caps as part of lending criteria- regardless of income stream. Over 55s left with outstanding balances on interest-only deals when a deal ends, often turn to equity release or in the worst case sell family homes to pay off debts. ...
E.On clears up the past with €16bn full-year loss image
Source : BBC [Read Article] Wednesday 15th of March 2017 08:16:40 AM
....1bn . The company has promised to reduce its debt by €7bn to around €20bn. ...
Identity fraud reached record levels in 2016 image
Source : BBC [Read Article] Wednesday 15th of March 2017 01:00:52 AM
....If it's only bank accounts, that's one thing but you worry they might have signed up to websites or applied for a passport, he says. It's a mixture of anger for the person who has defrauded you, and fear for whether the bank in question is going to try and call in that debt that you didn't build up, he adds. ...
Jobs at risk as Jones Bootmaker teeters on brink of administration image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:09:59 PM
....Alteri has been in negotiations to sell the business and is understood to have received credible offers. However, filing the administration notice protects the retailer from creditors looking to recover debts. ...
Charlotte Hogg’s exit raises tough questions for Bank of England | Nils Pratley image
....Unilever has been around for 100 years and has 165,000 employees. You do not have to be a hard-line protectionist to think such a company, whose shareholders in any case have done OK over the years, deserves a better fate than being kicked around by a charmless operator like Kraft whose main weapon is its principal shareholders’ willingness to run with enormous levels of debt. ...
Q&A: What will happen if the Federal Reserve raises US interest rates? image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:08:31 PM
.... A rise in the Fed funds rate would also increase the cost of borrowing. When the Fed first hinted in 2013 that it planned to stop pumping funds into the financial system, the prospect of higher borrowing costs for those holding dollar debts spooked the bond markets. ...
Bailiff industry still problematic, say charities image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:00:16 AM
.... They have called on the industry to be independently regulated and for a free, clear process to complain about bailiffs to be introduced. Bailiffs (or enforcement agents) collect debts owed to local authorities, the tax man and other public sector bodies such as the Child Maintenance Service, consumer credit lenders and utility companies. ...
Some bailiffs 'still abusing powers', debt charities say image
Source : BBC [Read Article] Tuesday 14th of March 2017 12:03:59 AM
. Some bailiffs are still abusing their powers when trying to recover debts, despite changes to the law three years ago, say debt advice charities. ...
Top executives may be brilliant – but their pay's about timing and luck image
....3bn company splashes out £1. 9bn on a “transformational” acquisition, paying half in shares and half in cash, what do you get three years later? The answer, in the case of Amec, which spent the sum on US group Foster Wheeler in 2014, is a pile of trouble, towering debts followed by submission to Wood Group’s all-share takeover offer at only £2. ...
Credit card Britain: Seven out of ten adults have average debts of £6,372  image
Source : Daily Express [Read Article] Monday 13th of March 2017 04:08:00 PM
.... One in three people admitted that they felt on credit to get by every single month. Younger people are likely to have the biggest debts, with one in five owing more than £10,000. ...
Wood Group agrees takeover of rival Amec Foster Wheeler image
Source : BBC [Read Article] Monday 13th of March 2017 08:32:01 AM
....Amec was due to raise £500m through a rights issue next week, although this has now been suspended. The funds were due to be used to reduce its £1bn debt pile and for a reorganisation of the company. ...
US interest rate rise to deepen debt crisis in developing world image
Source : Guardian [Read Article] Monday 13th of March 2017 07:00:26 AM
. Developing countries are struggling with steep rises in their debt payments after being hit by a double whammy of lower commodity prices and a stronger dollar, with more pain to come once the US central bank raises interest rates this week, campaigners warn. ...
Labour must learn to win if it wants to shape the UK's economic future image
....Third, when the economy subsequently slowed in 2011 and 2012, the response from George Osborne was to warm up the housing market by providing banks with incentives to lend and borrowers with incentives to buy. Having complained on entering office that the economy was too dependent on consumer and government borrowing, he engineered a pre-election boomlet based squarely on debt. ...
Shell’s sale of dirty tar sands assets cleans up debt and spruces image image
....But the $7. 25bn (£6bn) sale of the majority of its tar sands assets to an independent Canadian oil company is less about the company cleaning up its image than about cleaning up its debt. ...
Greek activists target sales of homes seized over bad debts image
Source : Guardian [Read Article] Saturday 11th of March 2017 08:00:29 AM
.... But every Wednesday, between 4pm and 5pm, they are anything but. For it is then that activists converge on the building, bent on stopping the auctions of properties seized by banks to settle bad debts. ...
Nick Candy paid Katy Perry £1.2m to sing at his wedding, court told image
Source : Guardian [Read Article] Friday 10th of March 2017 05:00:20 PM
....Candy said he had been close to Holyoake’s children and denied making threats against his former friend or his family. Holyoake says that during a phone call, Candy threatened that his brother might sell the loan to Russian debt collectors who would not hesitate to “seriously fucking hurt” Holyoake and his family. ...
Forget Brexit: housing is the key issue for Labour | Phil McDuff image
Source : Guardian [Read Article] Friday 10th of March 2017 12:04:31 PM
.... You get to realise the free money from the propertied middle and upper classes, keep business interests happy by putting a lid on wage growth, and still keep those on lower incomes in houses, albeit houses that get increasingly smaller and shoddier. Those property owners can “free up the value in their home” by taking out mortgages and other secured loans, and this debt can fuel consumer spending. ...
Why is John Lewis tightening its belt? image
Source : Guardian [Read Article] Friday 10th of March 2017 07:16:34 AM
.... But low interest rates have delivered lower returns for the scheme’s investments and it had a deficit of £479m in March this year. Partly because of this deficit, the group’s total debts have increased to more than four times its annual cash flow. ...
Shell sells oil sands assets as boss warns on clean energy challenge image
Source : Guardian [Read Article] Friday 10th of March 2017 01:18:53 AM
....”. Shell’s disposal of the tar sands interests is part of wider plan to offload $30bn (£25bn) worth of assets to cut debt following its acquisition of BG Group last year as it comes under investor pressure to mitigate climate change risks. ...
Christian Candy adviser linked to Litvinenko and his alleged killer image
Source : Guardian [Read Article] Thursday 9th of March 2017 07:45:01 PM
....Holyoake, who borrowed £12m from Christian Candy for a property deal, alleges that in 2012 he was threatened during a phone call with Christian’s brother, Nick Candy. Nick is alleged to have said his brother would sell the loan to Russian debt collectors who “would not think twice” about “seriously fucking hurting you”. ...
John Lewis slashes staff bonus to 6% – the lowest in 63 years image
Source : Guardian [Read Article] Thursday 9th of March 2017 09:28:42 AM
....6m. Mayfield said John Lewis had pumped money into reducing its debts, including its pension deficit, as the economic outlook remained “volatile and uncertain” because of difficulties in the wider UK economy and in the retail market. ...
Budget 2017: manifesto row clouds chancellor's attempt at low-key package image
....7bn stimulus to an economy Hammond said had continued to “confound the commentators with robust growth” but he hinted at further measures in the autumn statement. “The deficit is down but debt is still too high,” the chancellor said as he banked a one-off windfall from stronger-than-expected tax receipts since the EU referendum. ...
Greek farmers clash with riot police in Athens over austerity image
Source : Guardian [Read Article] Wednesday 8th of March 2017 05:16:48 PM
....The government is seeking to complete bailout talks over controversial income and spending cuts with visiting inspectors representing Greece’s international creditors. The country is due to make debt repayments of €7bn (£6bn) in July and faces the prospect of default if the bailout review is not completed. ...
Foxtons sees property sales plunge as Brexit vote hits image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:06:35 AM
....George Salmon, equity analyst at Hargreaves Lansdown, said Foxtons was "bearing the brunt of the troubles facing the London property market". He said that while investors could take comfort Foxton's lack of debt and the reliability of its rental business, "sales dropped sharply in the second half of 2016, and the early indications are that this trend is continuing into 2017". ...
Savers are getting worse return than ever while risk takers are benefiting image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 12:01:00 AM
....uk, a risk rating service for P2P platforms, says a number of sites pay around 4 per cent with little risk. “They vet borrowers, incur minimal bad debts and have defences to prevent losses. ...
Budget 2017: £2bn for social care and tax rise for self-employed image
Christian Candy tells court he follows rules on tax exile 'religiously' image
....”. Stewart asked Christian Candy if he had known that employees of a security firm he hired to advise on debt collection had been arrested on suspicion of bribery. ...
Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley image
.... If 10% house price inflation had continued, the UK would have been heading into dangerous waters. The Bank of England’s monetary policymakers, already fretting about the rise in unsecured credit card debt, should be relieved. ...
Government abdicating responsibility for social care, say providers image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:00:36 AM
.... Record numbers of care homes are already closing and more than 400 care home businesses have been declared insolvent since 2010, official figures show. Critics of the industry claim it is financial difficultly due to private companies racking up huge debts and failing to invest. ...
Patagonia and The North Face: saving the world – one puffer jacket at a time image
.... (One of its four Manhattan stores is located on the Bowery, next to the former location of the punk club CBGB, which is now a John Varvatos boutique. ) It prides itself on pushing up against the limits of how ethical a company can be while actually still selling things: quality goods, ethical labour and manufacturing, no debt, even a tax strategy, according to Chouinard’s book, “to pay our fair share and not a penny more”. ...
Greece desperate for growth strategy as public mood darkens image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:54:18 PM
. In the long and winding road of Greek debt drama, disappointment and hope have been the alternating emotions that every government has faced. ...
China cuts growth target to 6.5% this year - Premier Li Keqiang image
....And in a veiled reference to US President Donald Trump's complaints about China's exchange rate and trade policies, Mr Li warned of a far more complicated global picture in the year ahead with China facing the threat of growing protectionism. NPC leaders are tolerating slightly slower economic growth this year to give them more room to push through some painful reforms to deal with a rapid build-up in debt, Reuters news agency reports. ...
Budget 2017: No 'spending sprees', Hammond warns image
Source : BBC [Read Article] Sunday 5th of March 2017 02:20:28 AM
....Writing in the Sunday Times, he said that calls for "massive borrowing to fund huge spending sprees" were "reckless, unsustainable and unfair on our young people who would be left to deal with the consequences". Public sector net debt - not including public sector banks - was £1. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....That could steadily decline into a loss of £218 in the 2020/21 tax year. Higher rate tax payers, especially those with significant levels of mortgage debt and a large portfolio, could be hardest hit. ...
Violent criminals get off lighter than people late with their water bill image
.... To put that in context, 999 is the best score anyone can get, while 673 “is in the middle of the poor category”, Experian says. This is how Diana is now rated, even though she tells me she actually has savings rather than debts. ...
Christian Candy tells high court: ‘I don’t deal with shady people’ image
. Property tycoon Christian Candy has rejected allegations that he intimidated a business associate by threatening to hire a debt collector, telling the high court: “I don’t deal with shady people. ...
China's economic concerns mount as thousands gather for congress image
Source : Guardian [Read Article] Friday 3rd of March 2017 06:26:46 AM
....5-7%. Growth in that band would continue the slowest rates for more than a quarter of a century, a development which has complicated government efforts to shift from an economic model based on debt-fuelled investment and exports towards a consumer-driven one. ...
Australian housing market crash could lead to broader downturn, OECD warns image
....The OECD attributed this boom to domestic buyers rather than foreign investment, and recommended government policy should pressure banks to limit mortgage lending for investment properties, and avoid risky loans – echoing 2014 measures already put in place by the Australian Prudential Regulation Authority. Household debt also rose to record levels, with the debt to disposable income ratio rising to 186. ...
Snap IPO: a 21st-century firm with a 19th-century structure image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:36:11 PM
....1%, which most of Capita’s rivals would love to imitate. The fall in the share price has been steep partly because Capita is carrying too much debt – £1. ...
REVEALED: Winners and losers of Bank of England's money-printing programme  image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 04:57:00 PM
....". Mr Khalaf added: "Loose monetary policy has annihilated the income streams of cash savers and has also pushed bond yields down to historically low levels, with unintended consequences, because the price of government debt is used as a key yardstick in many markets. ...
Mike Ashley firm buys lingerie firm Agent Provocateur image
Source : BBC [Read Article] Thursday 2nd of March 2017 04:27:32 PM
....It has been reported that the firm linked to Mr Ashley paid around £25m after seeing off competition from private equity firm Lion Capital. The lingerie firm was sold via a so called "pre-pack deal" - that means a buyer is lined up to buy the assets of a company, but crucially not its liabilities, such as its debt and pension deficit. ...
Labour says £1m earners should publish tax returns image
Source : BBC [Read Article] Thursday 2nd of March 2017 03:05:40 PM
...."Hypothecation, allocating taxes raised to specific purposes, can make absolutely clear where tax money is being spent," he said. He accused the Conservatives of adding £750bn to the national debt since 2010, while at the same time imposing the first spending cuts on schools for 40 years and cuts to social care amounting to £4. ...
Agent Provocateur founder brands Mike Ashley's purchase 'a stitch-up' image
Source : Guardian [Read Article] Thursday 2nd of March 2017 12:46:56 PM
....The deal has been completed through a pre-pack administration, whereby a business is placed into insolvency proceedings and its assets are immediately acquired by a new owner. Pre-packs have been heavily criticised because they allow the business to shed its debts to creditors, which can include suppliers and the taxman. ...
ITV shouldn't get away with blaming Brexit for falling revenues | Nils Pratley image
.... Crozier was tight-lipped, as he must be, but the temptation to complete a few more laps of the track must be great. ITV is carrying little debt, can afford to carry on buying independent production houses and, whatever the advertising weather, doesn’t need a strategic rejig. ...
Overdraft charges are elephant in the room, say MPs image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:41:57 PM
. Overdraft charges are "the elephant in the room" as not enough has been done to tackle subsequent debt problems, a committee of MPs has said. ...
Hitting rock bottom image
Source : BBC [Read Article] Wednesday 1st of March 2017 12:07:40 AM
....The simple reason is that there are too many ships for too little cargo. The most dramatic casualty was South Korean group Hanjin, which collapsed last August weighed down by debts. ...
Spring budget 2017: drop in government borrowing predicted image
Source : Guardian [Read Article] Tuesday 28th of February 2017 12:01:13 AM
....The impact of that rising inflation is underscored in a closely watched barometer of consumer confidence out on Tuesday, which dipped one point in February as people became more pessimistic about their finances and more cautious about making big purchases such as furniture or electrical goods. Joe Staton at the poll’s publishers, GfK, said: “Any momentum behind the post-Brexit, debt-fuelled, consumer-spending boom now appears to be softening. ...
Trump lays out hike in military spending image
Source : BBC [Read Article] Monday 27th of February 2017 09:03:25 PM
....He also said he would spend "big" on infrastructure like roads and rails, but he has not yet revealed his tax plans. Mr Trump pledged to cut taxes during his presidential campaign, which would probably add to the national debt, a figure that could hit $20 trillion on his watch. ...
‘Buy for Uni’ mortgage turns students into landlords image
Source : Guardian [Read Article] Monday 27th of February 2017 09:28:35 AM
. After three or four years of study, many students will look with resignation at bank statements showing them thousands of pounds in debt. ...
London Stock Exchange/Deutsche Boerse merger in doubt image
Source : BBC [Read Article] Sunday 26th of February 2017 11:27:20 PM
....The two sides have made no bones about the fact the merger would create a company with a powerful presence in key markets, and have offered a number of sops to competition authorities in an attempt to win their approval. But it was not enough; Brussels insisted the LSE cede control of MTS, an important Italian clearing house with a crucial role in the trading of Italian government debt. ...
When will Britons get a pay rise? image
Source : Guardian [Read Article] Sunday 26th of February 2017 03:05:50 PM
....Some people can afford to opt for a better lifestyle because they live in a cheaper part of the country or benefit from family wealth that has paid for all or some of their home. Equally, they could be weighed down by student debts and feel insecure about their prospects, especially if they lack skills that are in demand, says Kevin Green, the head of the Recuitment & Employment Confederation. ...
Austerity anguish image
Source : BBC [Read Article] Sunday 26th of February 2017 01:54:38 AM
.... . Its ratio of debt to GDP - how much it owes compares to how much it earns - stands at an eye-watering 180% and its long term hope has to be that at some point at least some of that debt will be written off. ...
The Bank of England fears it may not spot the next crisis. Here’s where to look image
....Last month, the Bank of England warned that consumer credit, including car loans, was nudging levels not seen since the 2008 crash. Credit agency Experian, which monitors personal indebtedness, said the number of personal contract plans (PCPs), which allow buyers to pay a small deposit and then commit to making a monthly payment for three years with the option to buy or hand back the car at the end, has increased by 394% in five years. ...

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