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....The data breach is a further blow for Wonga which has been trying to rebuild its reputation after several scandals. In 2014, UK financial regulators found it had made loans to customers who could not afford to repay them, and chased debts with letters from a fake law firm. ... [Read full article on BBC ]
Sunday 9th of April 2017 02:20:23 PM
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...."The latest IHS survey data showed the amount of cash that households had available to spend fell in April to the greatest extent for two and a half years," he added. "Spending was supported by households eating further into their savings and taking on more debt [which] is clearly unsustainable in the long run". ... [Read full article on BBC ]
Friday 21st of April 2017 09:24:52 AM
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. Credit card firms must do more to help millions of customers unable to clear debt, the financial regulator has said. ... [Read full article on BBC ]
Monday 3rd of April 2017 06:53:47 AM
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....Some mental health problems manifest themselves in compulsive buying, making purchases which are later regretted. This could lead those affected into a spiral of debt. ... [Read full article on BBC ]
Thursday 20th of April 2017 11:05:25 PM
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....The breach will be a blow to Wonga, which has in recent years attempted to improve its reputation following a series of controversies. The lender, which advertised heavily on TV and through football sponsorships, was found by the financial regulator to have made loans to customers who could not afford to repay them and to have chased bad debts with letters from a fake law firm. ... [Read full article on Guardian ]
Sunday 9th of April 2017 11:33:39 AM
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.... A 20-percentage-point cut to corporate tax rates alone would add $2. 4tn to the national debt, according to the nonpartisan pressure group Americans for Tax Fairness. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 06:35:17 PM
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....The agency said that political upheaval, including the recent sacking of finance minister Pravin Gordhan, was endangering the economy. S&P also expressed concern over government debt, and in particular the expense of supporting the state energy firm Eskom. ... [Read full article on BBC ]
Monday 3rd of April 2017 11:11:12 AM
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.... Those in financial difficulty will be helped with day-to-day living costs. They will also be helped with legal fees, and have their existing debts written off. ... [Read full article on BBC ]
Friday 7th of April 2017 08:40:13 AM
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....Unfortunately, at the time it wasn't actually making any money. Set up in London in 2004, by 2008 it was saddled with debts of £1. ... [Read full article on BBC ]
Sunday 9th of April 2017 11:11:43 PM
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....Within that sector, it was retail slamming on the brakes. Normally, fuelled by cheap consumer debt, retail spending is the accelerator. ... [Read full article on BBC ]
Friday 28th of April 2017 08:32:58 AM
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....". JAB will also take on about $340m of Panera's debt, the companies said. ... [Read full article on BBC ]
Wednesday 5th of April 2017 04:05:19 PM
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.... The sale of the underperforming margarine division has been under consideration for some time, while the proposed cost-cutting and share buybacks are small relative to the size of the company. Together, the measures send a message that Unilever will never be an easy takeover target for the likes of Kraft Heinz or anyone else considering a debt-laden, slash-and-burn strategy. ... [Read full article on Guardian ]
Sunday 9th of April 2017 06:00:00 AM
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. Indebted tycoon Vijay Mallya has been bailed on security of £650,000 after appearing in court in London. ... [Read full article on BBC ]
Tuesday 18th of April 2017 11:33:56 AM
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....It will come in the autumn alongside an increase in tuition fees to £9,250 for universities in England. The Department for Education is also trying to sell off more student loan debt to private investors. ... [Read full article on BBC ]
Wednesday 12th of April 2017 11:02:18 AM
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....The firm says it will open 60 hotels over the next three years, including one in central London. In 2012, the chain was bought by two US hedge funds after its debts nearly dragged the company under. ... [Read full article on BBC ]
Monday 10th of April 2017 07:11:56 AM
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....“I think the government supporting apprenticeships and really promoting it has driven people,” she says. “I also think from a young person’s point of view with all the publicity around going to university and racking up debt, it’s giving the youngsters more information to make decisions. ... [Read full article on Guardian ]
Tuesday 4th of April 2017 06:00:44 AM
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....”. Last week Better Capital sold Jaeger’s debt to a company understood to be controlled by the retail billionaire Philip Day, who heads Edinburgh Woollen Mill. ... [Read full article on Guardian ]
Monday 10th of April 2017 05:06:29 PM
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.... . Government spending on infrastructure, a booming property market and taking on debt were all things China's leadership has pledged to move away from in the transition towards a new, modern, open economy. ... [Read full article on BBC ]
Monday 17th of April 2017 02:36:03 AM
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....". She hit financial difficulties and sought help from debt charity Christians Against Poverty. ... [Read full article on BBC ]
Friday 31st of March 2017 09:17:02 PM
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....“Another decade of weak productivity growth would seriously undermine the rise in global living standards. Slower growth could also jeopardise the financial and social stability of some countries by making it more difficult to reduce excessive inequality and sustain private debt and public obligations. ... [Read full article on Guardian ]
Monday 3rd of April 2017 05:56:41 PM
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. Personal debt levels are high enough to merit the whole sector coming under the microscope of the UK's financial regulator, the head of the Financial Conduct Authority (FCA) has said. ... [Read full article on BBC ]
Tuesday 18th of April 2017 09:09:54 AM
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....What's left in the portfolio which remains with the taxpayer? Some more buy-to-letters and, crucially, 56,000 residential borrowers. They include many stuck on an interest rate of nearly 5%, thousands in financial difficulty and over a thousand who have been referred for help in dealing with debt. ... [Read full article on BBC ]
Friday 31st of March 2017 06:57:25 AM
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....7% in the final three months of 2016. Economists said that was driven by a rise in consumer spending, partly funded by households dipping deeper into savings and running up debt. ... [Read full article on BBC ]
Friday 31st of March 2017 10:36:39 AM
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....”. Butler said that in reality, the interest rate increase was simply adding to the “massive amounts” of accumulated student loan debt “that the government will never see”. ... [Read full article on Guardian ]
Tuesday 11th of April 2017 05:31:05 PM
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....The White House is also working to include an expanded child and development care credit, for which Mr Trump's daughter, Ivanka, has advocated. Democrats are not expected to back a plan which adds to the national debt. ... [Read full article on BBC ]
Wednesday 26th of April 2017 12:20:53 PM
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.... It was only after the sale that the key element of the deal became clear. After buying Angel Trains, the Nomura consortium securitised the debt through a bond issue of £690m. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 04:30:38 AM
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.... Banks can help to gauge risks and get money where it is needed, both of which are vital to a well-functioning economy. But consider this: economists tell us that the optimum level of total private-sector debt is 100% of GDP. ... [Read full article on Guardian ]
Thursday 30th of March 2017 01:26:11 PM
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.... . The bond markets, this is where government debt is sold and the values are directly linked to the prospects of the economy have also reacted negatively. ... [Read full article on BBC ]
Thursday 30th of March 2017 10:39:38 PM
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....". Regulators have warned about rising unsecured debt, but despite the risks, "Lloyds remains the star of the UK banking show," Mr Wilson said. ... [Read full article on BBC ]
Thursday 27th of April 2017 06:33:36 AM
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. The International Monetary Fund has warned that Brexit’s unpredictable outcome poses a risk to global financial stability at a time when it is already challenged by heavily-indebted US corporations, China’s credit bubble and weak European banks. ... [Read full article on Guardian ]
Wednesday 19th of April 2017 12:30:21 PM
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Latest Finance News related to Debt

Weak pound melts the British dream of a place in the sun image
Source : Guardian [Read Article] Friday 28th of April 2017 04:03:49 PM
....A report by Spain’s Association of Land and Commercial Registrars last week revealed British demand for second homes in Spain was down nearly 30% on last year’s pre-referendum levels. In Greece, where property taxes have soared amid the debt-stricken economy and there are lingering fears that the country could yet be ejected from the eurozone, estate agents on some of the more popular Greek islands are reporting an even bigger plunge in the number of Britons looking for homes since the Brexit vote. ...
Personal insolvencies soar to highest level in three years image
Source : Guardian [Read Article] Friday 28th of April 2017 02:34:07 PM
....Joanna Elson, the chief executive of the Money Advice Trust, the charity that runs National Debtline, said the insolvency figures were concerning. “Growing levels of household debt and extra pressure on budgets from inflation are a worry, and we expect this to translate into greater demand for free debt advice over the rest of 2017,” she said. ...
Eurozone recovery gathering pace, says Draghi image
Source : BBC [Read Article] Thursday 27th of April 2017 12:21:29 PM
....It also decided not to change the ECB's bond-buying stimulus scheme, which is already being trimmed to 60bn euros (£51bn) a month from 80bn euros. Economic confidence is at its highest since the eurozone debt crisis, but inflation continues to miss the ECB's target for a fifth straight year. ...
Lloyds profits double to £1.3bn despite PPI and fraud payouts image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:33:22 AM
....The bank, which is Britain’s largest mortgage lender, shrugged off the uncertainty created by Brexit and what António Horta-Osório, chief executive, described as a “challenging” operating environment. “The UK economy continues to benefit from low unemployment and reduced levels of indebtedness, and asset quality remains strong and is stable across the portfolio. ...
Trump under fire over 'huge tax cut for the rich' image
Source : Guardian [Read Article] Wednesday 26th of April 2017 06:35:17 PM
In the small print image
Source : BBC [Read Article] Wednesday 26th of April 2017 03:35:41 PM
....The "pay for itself" argument in favour of tax cuts has a long and contested history in the US, with many doubting that the evidence bears out the theory. Lower tax rates mean less tax revenue - which could be a serious problem for Republicans in Congress worried about national debt and a ballooning deficit. ...
Trump seeks tax windfall for business image
Source : BBC [Read Article] Wednesday 26th of April 2017 12:20:53 PM
....The White House is also working to include an expanded child and development care credit, for which Mr Trump's daughter, Ivanka, has advocated. Democrats are not expected to back a plan which adds to the national debt. ...
Millions could reclaim CASH on energy bills after an unexpected mild winter image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
....Claire Osborne, energy expert at uSwitch. com, urged households to submit up-to-date gas and electricity meter readings to find out if they are owed cash: “It is important to provide regular meter readings otherwise energy bills can quickly become inaccurate, tipping people into credit or debt on their accounts. ...
Average 50-something 'OWES more in debts than they have in savings' image
Source : Daily Express [Read Article] Wednesday 26th of April 2017 12:01:00 AM
. Excluding mortgage debt, the average person aged between 50 and 59 owes £4,641 from borrowing such as credit cards loans and overdrafts, according to the research from Nationwide Financial Planning. ...
Theresa May promises personal tax allowance will go up to woo working-class voters image
....In an article for Welsh newspaper the Western Mail, Mrs May said: "Our Labour, Lib Dem and Nationalist opponents - Plaid Cymru here in Wales and Nicola Sturgeon's SNP in Scotland - are already seeking to disrupt our negotiations, even as 27 other European countries line up to oppose us. "That approach can only mean one thing - uncertainty and instability, bringing grave risk to our growing economy with higher taxes, fewer jobs, more waste and more debt. ...
The Crusader: Couple saddled with debt threats after returning mobile phones image
Source : Daily Express [Read Article] Monday 24th of April 2017 04:39:00 PM
....” . But the problem reared up again two weeks later when they got another demand from a debt collector saying they now owed £718. ...
Bill sets out plan to tackle 'extortionate' UK overdraft fees image
Source : Guardian [Read Article] Sunday 23rd of April 2017 04:51:46 PM
....Rachel Reeves, a Labour MP who sits on the Treasury select committee, will outline plans on Tuesday for regulators at the Financial Conduct Authority (FCA) to cap the maximum amount that banks can charge customers for unauthorised overdrafts, similar to the limit imposed on charges on payday loans of £24 a month. She argued: “Banks are sending many people deeper into debt with extortionate charges on unauthorised overdrafts. ...
Whatever the IMF thinks, we are a long way from the boom time of 2007 | Larry Elliott image
....Secondly, 2007 was peak growth. It is now apparent that the period of rapid expansion in the early 2000s was only possible because the financial system was out of control and households were taking on record amounts of debt. ...
Packing a punch image
Source : BBC [Read Article] Sunday 23rd of April 2017 06:58:24 AM
....5bn) worth of assets, has earned a reputation over 40 years as a no-holds-barred activist investor, with an unusually large appetite for public face-offs. The firm famously pursued Argentine debt for more than a decade, seizing one of the country's naval ships while it was docked in Ghana and prompting the country to default. ...
Dortmund attack: man arrested on suspicion of share-dealing plot image
Source : Guardian [Read Article] Friday 21st of April 2017 04:36:02 PM
....After a euphoric stock market launch that earned the club €140m, Dortmund invested heavily in new players but failed to turn its new spending power into sporting success. In July 2004, several players complained they had not received their wages, and by 2005, the club had racked up debts to the tune of €118m. ...
'Vijay Mallya can't avoid the law': Herts villagers on 'fugitive' billionaire neighbour image
. Vijay Mallya, the multimillionaire co-owner of the Force India Formula One team and self-proclaimed “King of the Good Times”, does not appear to be preparing for his possible extradition to India to face a fraud trial on allegations over £1bn of unpaid debts. ...
Reactor goes here ... the £18bn Hinkley Point C starts to take shape image
Source : Guardian [Read Article] Friday 21st of April 2017 01:05:27 PM
....“It’s a growing industry, isn’t it? We’re all fairly local, and it’s a big thing round here,” she said of nuclear power’s appeal. “I never went to uni, so this course gives me a degree without having to go to uni and have all the debt. ...
Biggest fall in UK retail sales in seven years image
Source : BBC [Read Article] Friday 21st of April 2017 09:24:52 AM
...."The latest IHS survey data showed the amount of cash that households had available to spend fell in April to the greatest extent for two and a half years," he added. "Spending was supported by households eating further into their savings and taking on more debt [which] is clearly unsustainable in the long run". ...
Sports Direct breaks into US market image
Source : BBC [Read Article] Friday 21st of April 2017 08:32:02 AM
....Mike Ashley's chain said the "footprint" in US bricks and mortar retail would give it a "platform from which to grow US online sales". It has bought the debts of parent firm Eastern Outfitters and lent it money. ...
UK's online shoppers top global spending survey image
Source : BBC [Read Article] Thursday 20th of April 2017 11:05:25 PM
....Some mental health problems manifest themselves in compulsive buying, making purchases which are later regretted. This could lead those affected into a spiral of debt. ...
The Guardian view on the IMF: a global institution in an age of protection | Editorial image
.... The IMF has its doubts about whether the pick-up in activity – which has only been possible because central banks have kept interest rates at record lows since the deep slump of 2008-09 – will endure. It points to the vulnerability of debt-laden American companies to rising borrowing costs, to the credit bubble that has kept China’s economy booming, and to the €1tn of non-performing loans weighing down banks in the eurozone. ...
Presidential challenge image
Source : BBC [Read Article] Thursday 20th of April 2017 03:10:40 PM
....It's true the government's borrowing costs are not high. One widely used measure is the yield or return in the financial market on government bonds or debt due for repayment in 10 years. ...
With a whiff of sulphur, George Osborne was gone – but for how long? | Polly Toynbee image
.... He leaves behind acid burns on the national psyche that will take years to heal. He could leave his successors a there’s- no-money note in blazing capital letters, bequeathing a national debt that increased by far more in his six years than it did in Labour’s three terms combined – but that’s small beer compared with the scars he leaves on public attitudes. ...
George Osborne: history will not be kind to a man whose flaws led to Brexit image
....By halfway through the 2010-15 parliament, Osborne was in a spot. He had claimed – correctly – that the UK economy had been too dependent on debt in the years before the crisis, but now found that the economy was flatlining. ...
IMF says global financial stability has improved image
Source : BBC [Read Article] Wednesday 19th of April 2017 12:31:28 PM
....There is political and policy uncertainty around the globe, particularly in the United States and Europe. There is also a warning from the IMF about rising debt levels in China. ...
Brexit’s unpredictable outcome poses risk to global stability, says IMF image
Source : Guardian [Read Article] Wednesday 19th of April 2017 12:30:21 PM
. The International Monetary Fund has warned that Brexit’s unpredictable outcome poses a risk to global financial stability at a time when it is already challenged by heavily-indebted US corporations, China’s credit bubble and weak European banks. ...
Financial watchdog to investigate car finance market image
Source : BBC [Read Article] Wednesday 19th of April 2017 10:47:47 AM
....9% last November, before easing over the winter months. That was the fastest rate since 2005, which was the time when household debt was building up to the financial crash. ...
Force India F1 team boss Vijay Mallya arrested in London image
Source : Guardian [Read Article] Tuesday 18th of April 2017 12:31:31 PM
....Vijay Mallya, the multimillionaire co-owner of the Force India Formula One team, has been arrested in London on behalf of Indian authorities investigating allegations of fraud in connection with the collapse of Kingfisher Airlines. Scotland Yard said Mallya, who fled to the UK from India to avoid arrest in relation to £1bn of unpaid debts, was arrested on an extradition warrant on Tuesday. ...
Indian tycoon Vijay Mallya bailed in UK image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:33:56 AM
. Indebted tycoon Vijay Mallya has been bailed on security of £650,000 after appearing in court in London. ...
Financial Conduct Authority concerned over personal debt image
Source : BBC [Read Article] Tuesday 18th of April 2017 09:09:54 AM
. Personal debt levels are high enough to merit the whole sector coming under the microscope of the UK's financial regulator, the head of the Financial Conduct Authority (FCA) has said. ...
China's first quarter growth beats expectations at 6.9% image
Source : BBC [Read Article] Monday 17th of April 2017 02:36:03 AM
.... . Government spending on infrastructure, a booming property market and taking on debt were all things China's leadership has pledged to move away from in the transition towards a new, modern, open economy. ...
Tenant charged £835 … to scribble a new name on a contract image
Source : Guardian [Read Article] Saturday 15th of April 2017 06:00:17 AM
....50. Quite how young people starting out work, with vast debts from university (now charged at an interest rate of 6. ...
Labour plans clampdown on 'sweetheart deals' to close £36bn tax gap image
Source : Guardian [Read Article] Friday 14th of April 2017 11:01:09 PM
....“After thirteen years of Labour doing nothing we have led the way on tackling tax evasion, avoidance and non-compliance, securing an additional £140bn in additional tax revenues since 2010. “All Labour would do now is wreck the economy with higher taxes, half a trillion in additional borrowing and a leader who says we should not be afraid of debt. ...
Labour plans to halt 'epidemic' of high street bank closures image
Source : Guardian [Read Article] Thursday 13th of April 2017 11:01:17 PM
....Responding to the announcement, the Conservative vice-chair and MP for Pudsey, Stuart Andrew, did not specifically comment on the plan, but criticised Labour’s wider policies. “Labour’s plan for our high streets would see corporation tax going back up to 28% and £500bn of extra debt – all under a Labour leader who said that we should not be afraid of debt or borrowing,” he said. ...
Banks cracking down on lending after borrowing binge, survey finds image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:53:17 PM
.... The proportion of lenders expecting to restrict access to credit between April and June was the highest since the financial crisis in 2008. Those plans will be welcomed by financial regulators after their warnings on the rapid growth in borrowing in recent months as Britons have racked up debt on cards, car leasing schemes and personal loans. ...
Is business starting to get spooked about Donald Trump? | Larry Elliott image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:36:22 PM
.... Lenders sit up and take notice. The FPC’s concern is that too much unsecured lending is going on: too much credit card debt; too many payday loans; too many cars being bought on attractive-looking finance deals. ...
Beijing bans property ads promising high returns and good feng shui image
....The sites had until Wednesday to remove ads promising high returns and even good feng shui, state media said. Beijing's surging home prices have made it unaffordable for many, and led to high debt levels. ...
US senator presses Deutsche Bank for details of Trump loans image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:29:14 PM
....Chris Van Hollen has written to Deutsche Bank asking for assurances that it will not use the president’s outstanding multimillion-dollar loans as “leverage”. The Democratic senator is also demanding to know whether the bank has restructured Trump’s debt or sold it to “foreign entities”. ...
Students face sharp rise in interest on tuition loans image
Source : BBC [Read Article] Wednesday 12th of April 2017 11:02:18 AM
....It will come in the autumn alongside an increase in tuition fees to £9,250 for universities in England. The Department for Education is also trying to sell off more student loan debt to private investors. ...
Akzo Nobel faces call to axe chairman amid takeover battle image
Source : BBC [Read Article] Wednesday 12th of April 2017 10:42:40 AM
.... . Founded in 1977 by American activist investor Paul Singer, it made a name investing in national debt in countries such as Peru. ...
Student loan interest rate set to rise by a third after UK inflation surge image
....”. Butler said that in reality, the interest rate increase was simply adding to the “massive amounts” of accumulated student loan debt “that the government will never see”. ...
The Crusader: Trader falls victim to debt collector trying to get back money owed image
....After we contacted Falcon, whose directors are listed as Lynn Robinson and Michael Watson, and put Anna’s concerns to them, it just replied it would speak to her. Falcon used to be a member of the industry’s trade body the Credit Services Association which in recent times has responded to public concern about the behaviour of some debt collectors and bailiffs by developing a tougher code of conduct. ...
Jaeger collapses into administration putting 680 jobs at risk image
Source : Guardian [Read Article] Monday 10th of April 2017 05:06:29 PM
....”. Last week Better Capital sold Jaeger’s debt to a company understood to be controlled by the retail billionaire Philip Day, who heads Edinburgh Woollen Mill. ...
Travelodge makes more out of business than leisure visitors image
Source : BBC [Read Article] Monday 10th of April 2017 07:11:56 AM
....The firm says it will open 60 hotels over the next three years, including one in central London. In 2012, the chain was bought by two US hedge funds after its debts nearly dragged the company under. ...
Parents forking out thousands of pounds after children leave the nest image
Source : Daily Express [Read Article] Monday 10th of April 2017 12:01:00 AM
....More than half of parents (56 per cent) fund this spending from savings and a third (36 per cent) cover the costs from their normal income. But some parents put themselves into debt to help their children, with 6 per cent putting the cost on a credit card, 5 per cent dipping into an overdraft and 3 per cent using a personal loan. ...
Sparkling success image
Source : BBC [Read Article] Sunday 9th of April 2017 11:11:43 PM
....Unfortunately, at the time it wasn't actually making any money. Set up in London in 2004, by 2008 it was saddled with debts of £1. ...
Wonga data breach 'affects 245,000 UK customers' image
Source : BBC [Read Article] Sunday 9th of April 2017 02:20:23 PM
....The data breach is a further blow for Wonga which has been trying to rebuild its reputation after several scandals. In 2014, UK financial regulators found it had made loans to customers who could not afford to repay them, and chased debts with letters from a fake law firm. ...
Wonga data breach could affect nearly 250,000 UK customers image
Source : Guardian [Read Article] Sunday 9th of April 2017 11:33:39 AM
....The breach will be a blow to Wonga, which has in recent years attempted to improve its reputation following a series of controversies. The lender, which advertised heavily on TV and through football sponsorships, was found by the financial regulator to have made loans to customers who could not afford to repay them and to have chased bad debts with letters from a fake law firm. ...
America owes China $1tn. That’s a problem for Beijing, and Trump knows it image
.... The sale of the underperforming margarine division has been under consideration for some time, while the proposed cost-cutting and share buybacks are small relative to the size of the company. Together, the measures send a message that Unilever will never be an easy takeover target for the likes of Kraft Heinz or anyone else considering a debt-laden, slash-and-burn strategy. ...
Having enough money is key to happy retirement image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
. Whether you want to help out younger family members, clear your debts or do up your home, the choice is yours. ...
Property’s equity can help your loved ones image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
.... . You can spend the money on whatever you like, and many are also using equity release to clear the capital on their interest-only mortgage, because the endowment designed to pay off the debt left a shortfall. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....Massed before parliament in the fading light of day, they did what they had come to do: rail against the cuts that loom in return for further disbursement of the emergency aid now needed to avert economic collapse. The serial drama of Greece’s debt repayments will reach a climax again when loans of €7. ...
Are the wheels about to fall off the credit gravy train? image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
....In Threadneedle Street, the alarm bells are ringing. The Bank of England is concerned that consumer spending is underpinned by rising credit card debt, personal loans and car finance deals. ...
Greece agrees basic terms to unlock delayed bailout image
Source : BBC [Read Article] Friday 7th of April 2017 03:14:32 PM
....That is needed before there is political decision to make that delayed payment. Once there is a staff agreement, Mr Dijsselbloem said that the Eurogroup ministers would also look at the targets Greece would need to aim for in the government finances after the last bailout payments are made (due in 2018) and the question of debt sustainability - which means debt relief beyond what the eurozone has already provided. ...
Jaeger going out of fashion puts 700 jobs at risk image
Source : Guardian [Read Article] Friday 7th of April 2017 03:01:10 PM
.... The retailer confirmed on Friday that it had filed a notice of intention to appoint administrators – a step that gives a company protection from creditors for 10 days before potentially tipping into administration. Last week, a mystery buyer bought all Jaeger’s debts from the private equity firm Better Capital for £7m. ...
Bank of England orders financial firms to draft Brexit contingency plans image
....Carney has previously warned that European economies could be damaged if their access to the City of London was disrupted after Britain leaves the EU. On Friday, he reiterated that more than half the equity and debt raised for European governments and business was raised in the UK. ...
Lloyds to pay £100m fraud compensation image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:13 AM
.... Those in financial difficulty will be helped with day-to-day living costs. They will also be helped with legal fees, and have their existing debts written off. ...
A week of turmoil in South Africa image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:00 AM
. The BBC's Lerato Mbele reprts on a week of political and economic turmoil in South Africa, with the sacking of a finance minister and a downgrading of the country's sovereign debt. ...
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Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....The lender said that it will pay compensation for “economic losses, distress and inconvenience” as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering “reasonable” fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds, and not pursuing repayment. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
....The lender said that it will pay compensation for "economic losses, distress and inconvenience" as part of a package of measures to assist victims. This includes providing interim payments on a case-by-case basis to help those in day-to-day financial difficulty as a result of the fraud, covering "reasonable" fees for professional advice to customers and writing off remaining business and personal debts owed to Lloyds and not pursuing repayment. ...
Unilever bins Flora – but butters up its shareholders | Nils Pratley image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:21:41 PM
.... The numbers are big, but Unilever is a big business. Indeed, it can afford to carry another €10bn of debt, on top of the current €12bn. ...
What is probate? Is there anything I can do to avoid rising probate fees? image
Source : Daily Express [Read Article] Thursday 6th of April 2017 05:39:00 PM
....This person needs to apply for a ‘grant of representation’ to get the legal right to access things like the deceased’s bank account. They then need to pay Inheritance Tax, collect the estate’s assets and pay any debts such as unpaid utilities bills. ...
The Guardian view on rising personal debt: more prudence please | Editorial image
.... The twin pressures of rising inflation and slowing pay rises are squeezing household incomes. The ratio of personal debt to household income, which fell steadily in the years after the financial crisis, has now again begun to rise. ...
Krispy Kreme owner pays $7.5bn for Panera Bread chain image
Source : BBC [Read Article] Wednesday 5th of April 2017 04:05:19 PM
....". JAB will also take on about $340m of Panera's debt, the companies said. ...
Is there a housing bubble or isn't there? | Greg Jericho image
Source : Guardian [Read Article] Wednesday 5th of April 2017 02:00:07 PM
.... But there are things we can look at with concern, and we know we should because the Reserve Bank is very much looking at them. The big one is debt. ...
It's that time of year to spring clean your finances with the help of our expert tips image
....Get the balance right. Consider switching unpaid credit or store card debt to a balance transfer card charging zero interest. ...
Degrees of fear  image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:23:24 PM
.... . "You have American students who are graduating tens of thousands of dollars in debt, or foreign students who come to the United States legally, but they don't get the same kind of attention," he said. ...
Will populist leaders stifle the global recovery – or vice versa? image
Source : Guardian [Read Article] Tuesday 4th of April 2017 03:32:12 PM
.... The Trump administration believes that it has the bargaining tools to recalibrate the relationship to America’s advantage, including a tariff on Chinese imports or even selectively defaulting on the more than $1tn the US owes to China. But a tariff would eventually be overturned by the World Trade Organisation, and a default on US debt would be even more reckless. ...
Cost of junk image
Source : BBC [Read Article] Tuesday 4th of April 2017 12:52:58 PM
....The country's currency, the rand, has lost ground, bonds and banking shares have fallen and there is a general air of impending doom. Of the big three ratings agencies, only Standard & Poor's has lowered South Africa's sovereign debt to below investment grade. ...
Bank still worried about personal lending image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:26:26 AM
....8bn on their mortgage loans. The Bank said: "Relative to mortgage debt, consumer credit was less likely to pose a risk to broader macroeconomic stability through its effect on household spending. ...
Bank of England sounds new alarm over consumer credit binge image
Source : Guardian [Read Article] Tuesday 4th of April 2017 11:21:46 AM
. The Bank of England has flagged up new concerns about the rapid growth in consumer borrowing as Britons rack up debt on credit cards, car purchase schemes and personal loans. ...
You're hired? New levy and tougher rules signal apprenticeship shakeup image
....“I think the government supporting apprenticeships and really promoting it has driven people,” she says. “I also think from a young person’s point of view with all the publicity around going to university and racking up debt, it’s giving the youngsters more information to make decisions. ...

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