Topic filter : Financial Crisis

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.... . The aftermath of the financial crisis saw affordability levels plateau. ... [Read full article on BBC ]
Friday 17th of March 2017 10:06:40 AM
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.... “There is so much money out there looking for a way into student housing,” he said. “Throughout the financial crisis and the housing market crash, students still went to school. ... [Read full article on Guardian ]
Thursday 16th of March 2017 03:40:59 PM
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....Persistent low interest rates are another element of the tougher climate for banks, as it is far more difficult to make a profit when the difference between borrowing and deposit rates is so small. Deutsche Bank, which last year was deemed the riskiest bank in the world by the International Monetary Fund for its global interconnectedness and weakness, has been slower than rivals to take action to recover from the financial crisis of 2008, giving it less strength to ride the weak business banking climate. ... [Read full article on BBC ]
Monday 20th of March 2017 09:25:46 AM
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....He would not have sacrificed those jobs for an extra 1% or 2% productivity. Mr Haldane was speaking at the London School of Economics about the "puzzles of productivity" and why it has been so low since the financial crisis. ... [Read full article on BBC ]
Monday 20th of March 2017 08:03:10 PM
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....The Institute for Fiscal Studies said income for working-age adults was no higher than eight years ago. Inequality and poverty remain slightly lower than before the financial crisis. ... [Read full article on Guardian ]
Thursday 16th of March 2017 02:45:20 PM
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.... . The profit drop in 2016 was the first for the retailer since the financial crisis of 2008. ... [Read full article on BBC ]
Thursday 23rd of March 2017 07:24:09 AM
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....The DWP figures also show that in 2015-16, rises in pensioner incomes stalled. A number of reports and previous data have shown that income growth has been faster among pensioners than working-age people since the financial crisis. ... [Read full article on BBC ]
Thursday 16th of March 2017 11:20:14 AM
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.... GDP rises but wages shrink. The financial crisis was 10 years ago but austerity looks set to continue into the middle of the next decade, as we endlessly wait for the recovery that’s always round the corner. ... [Read full article on Guardian ]
Friday 17th of March 2017 08:59:05 AM
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.... The reality is that Britain’s economic recovery will be feeling far from miraculous to millions of low-paid workers. Since the financial crisis, the growth in jobs has come at the price of little growth in average earnings, with many workers finding themselves materially worse off. ... [Read full article on Guardian ]
Sunday 19th of March 2017 12:05:01 AM
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Latest Finance News related to Financial Crisis

Next sees first annual profit fall in eight years image
Source : BBC [Read Article] Thursday 23rd of March 2017 07:24:09 AM
.... . The profit drop in 2016 was the first for the retailer since the financial crisis of 2008. ...
Low UK interest rates 'hurt productivity but saved jobs' image
Source : BBC [Read Article] Monday 20th of March 2017 08:03:10 PM
....He would not have sacrificed those jobs for an extra 1% or 2% productivity. Mr Haldane was speaking at the London School of Economics about the "puzzles of productivity" and why it has been so low since the financial crisis. ...
Deutsche Bank cuts staff bonuses image
Source : BBC [Read Article] Monday 20th of March 2017 09:25:46 AM
....Persistent low interest rates are another element of the tougher climate for banks, as it is far more difficult to make a profit when the difference between borrowing and deposit rates is so small. Deutsche Bank, which last year was deemed the riskiest bank in the world by the International Monetary Fund for its global interconnectedness and weakness, has been slower than rivals to take action to recover from the financial crisis of 2008, giving it less strength to ride the weak business banking climate. ...
A ‘jobs miracle’ that leaves millions worse off | Observer editorial image
.... The reality is that Britain’s economic recovery will be feeling far from miraculous to millions of low-paid workers. Since the financial crisis, the growth in jobs has come at the price of little growth in average earnings, with many workers finding themselves materially worse off. ...
Homes cost more than seven times income image
Source : BBC [Read Article] Friday 17th of March 2017 10:06:40 AM
If big business is to thrive, it needs a strong welfare state | Phil McDuff image
.... GDP rises but wages shrink. The financial crisis was 10 years ago but austerity looks set to continue into the middle of the next decade, as we endlessly wait for the recovery that’s always round the corner. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
.... “There is so much money out there looking for a way into student housing,” he said. “Throughout the financial crisis and the housing market crash, students still went to school. ...
Child poverty in UK at highest level since 2010, official figures show image
Source : Guardian [Read Article] Thursday 16th of March 2017 02:45:20 PM
....The Institute for Fiscal Studies said income for working-age adults was no higher than eight years ago. Inequality and poverty remain slightly lower than before the financial crisis. ...
Household incomes crept up last year, DWP figures show image
Source : BBC [Read Article] Thursday 16th of March 2017 11:20:14 AM
....The DWP figures also show that in 2015-16, rises in pensioner incomes stalled. A number of reports and previous data have shown that income growth has been faster among pensioners than working-age people since the financial crisis. ...
US interest rate rise signals end of ultra-low borrowing costs image
Source : Guardian [Read Article] Wednesday 15th of March 2017 07:31:25 PM
....With Donald Trump planning tax cuts and spending increases, Wall Street currently sees that as unlikely. But Yellen is aware that Greenspan’s softly-softly approach to raising rates ended with an almighty financial crisis and the biggest US slump since the 1930s. ...
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
....Customers will also be able to make additional payments to their mortgage without penalty, or repay their mortgage in full at any time. It's estimated around 600,000 interest-only mortgages - which were a popular product before the financial crisis - will mature before 2020, with around half still owing money. ...
Single market exit: UK construction 'could lose 175,000 EU workers' image
Source : Guardian [Read Article] Wednesday 15th of March 2017 06:30:23 AM
....”. The construction industry has been recovering ground since the financial crisis, but there have been signs of a potential slowdown even before the Brexit process is triggered and the budget changes come into full effect. ...
Cathay Pacific sees first annual loss in eight years image
Source : BBC [Read Article] Wednesday 15th of March 2017 05:47:20 AM
. Hong Kong's flag carrier Cathay Pacific has reported its first annual loss since the global financial crisis. ...
UK average annual rents fall for first time in six years image
Source : Guardian [Read Article] Monday 13th of March 2017 06:00:24 AM
....Any falls in rents will come as welcome relief to tenants after years of rises. Despite the small decrease over the past 12 months, the average rent in Britain is still £112 higher than the previous peak in 2007, even though average incomes have only edged ahead since the financial crisis. ...
HSBC appoints AIA boss Mark Tucker as new chairman image
Source : BBC [Read Article] Sunday 12th of March 2017 11:19:23 PM
....The banking industry has been hampered by the extended period of very low interest rates, which makes lending money less profitable. For HSBC, that problem has been compounded by its move into less risky areas of banking since the financial crisis which started in 2007. ...
Labour must learn to win if it wants to shape the UK's economic future image
....The current state of Westminster politics is all the more curious given what has happened to the economy over the past decade. First, there was a financial crisis caused by blind adherence to free market dogma and a laissez-faire approach to regulating global finance. ...
Trump is set to win the battle on interest rates, but US economy will pay the price image
.... A rate rise this week will be taken as another sign by commentators that the Fed is slowly capitulating to the new president’s tub-thumping campaign. In December, the Fed raised interest rates for the first time in a year, and only the second time since the 2008 financial crisis, up 0. ...
Markets in 'no doubt' on US rate rise image
Source : BBC [Read Article] Friday 10th of March 2017 10:33:01 PM
....Federal Reserve chair Janet Yellen said last week that the central bank could raise rates in March if employment and inflation figures met their expectations. The Fed increased rates, which have been at near-historic lows since the financial crisis, to a range of 0. ...
US interest rate rise almost certain after bumper jobs growth image
Source : Guardian [Read Article] Friday 10th of March 2017 06:15:58 PM
. The US Federal Reserve is poised to raise interest rates next week for only the third time since the financial crisis after the latest job numbers for the world’s largest economy beat expectations. ...
US jobs report means Fed rate hike is a bolt-on certainty image
Source : Guardian [Read Article] Friday 10th of March 2017 03:03:04 PM
....Following news that the world’s biggest economy generated 235,000 net new non-farm jobs in February, it is a bolt-on certainty that the central bank will push up the cost of borrowing by a quarter of a point. It is now almost 10 years since the start of the financial crisis ushered in a period of ultra-low interest rates and it has been clear for a while that the Fed is anxious to speed up the normalisation process. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
....Johnson pointed out just how woeful the productivity performance of the UK economy had been since 2008. Growth in living standards depends on improvements in productivity, which in the years leading up to the financial crisis averaged more than 2% a year. ...
No rights, more tax: this is Conservative ‘fairness’ for the self-employed | Frances O’Grady image
.... I’m pleased that self-employment is at the top of the political agenda at last. Self-employment is, after all, behind the biggest change in our labour market since the financial crisis, accounting for nearly half of all employment growth since 2008. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
....The risk warnings in its annual report said that if it could not achieve its goals “the Bank of England may impose particular directions or a special resolution procedure”. This special resolution procedure has been put in place since the financial crisis with an aim to avoid taxpayers bailing out troubled banks, requiring bond holders to take losses. ...
No pay rise for 15 years, IFS warns UK workers image
Source : Guardian [Read Article] Thursday 9th of March 2017 08:57:23 AM
....Analysing Philip Hammond’s spring budget, the Institute for Fiscal Studies (IFS) said that after suffering a lost decade of earnings growth, households were now about to be hit by big welfare cuts. Paul Johnson, the thinktank’s director, highlighted permanent scars to the UK economy from the global financial crisis and said that almost a decade on the prospects for income and earnings growth remained weak. ...
Budget 2017: Squeeze on family finances 'extended until 2020s' image
Source : BBC [Read Article] Thursday 9th of March 2017 07:40:05 AM
....The UK is on course for an unprecedented 15 years of spending cuts and lost pay growth the Resolution Foundation said. It will leave the poorest third of households worse off than in the years after the financial crisis, it said. ...
RBS awards nearly £16m of bonuses in shares to nine top executives image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:57:42 PM
....4m. Since RBS’s £45bn taxpayer bailout during the financial crisis, it has reported nine consecutive years of losses amounting to more than £58bn. ...
Get ready for food inflation to take a bite out of growth | Vicky Pryce image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:37:50 PM
.... What has actually kept the economy growing is buoyant household spending. With wages finally rising above inflation, real disposable incomes recovered after years in the doldrums following the financial crisis. ...
Budget will hold no big surprises on spending or tax, chancellor says image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:33:22 AM
.... But the economy is performing strongly, even as it slows, leaving the chancellor to continue where he left off in the autumn statement: focusing on relatively limited measures to improve the UK’s infrastructure, skills and education. Austerity will continue to drive down government spending to levels not seen since before the financial crisis, while the tax burden is on track to reach its highest level as a proportion of GDP in 30 years. ...
Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley image
.... But the whiff of complacency in the court is harder to overlook. After the financial crisis, the outside world was promised firm 21st-century governance led by commanding outsiders. ...
Hammond gets budget boost as OECD upgrades UK growth forecast image
Source : Guardian [Read Article] Tuesday 7th of March 2017 10:00:39 AM
....2% it was predicting in late November. It made no changes to its earlier forecast for growth to slow further in 2018 to just 1% – which would be the weakest performance since the depths of the global financial crisis in 2009. ...
The fine print behind the GM deal image
Source : BBC [Read Article] Monday 6th of March 2017 09:17:53 AM
....GM, meanwhile, continues to shrink its ambitions and focus on the future. Since it was bailed out by the US government in the aftermath of the financial crisis, it has closed in America the Oldsmobile, Saturn, Hummer and Pontiac brands, and ditched its plants in Australia, where it had made cars since 1931. ...
Standard Life  and Aberdeen Asset Management confirm merger talks image
Source : Guardian [Read Article] Sunday 5th of March 2017 05:57:06 PM
.... Standard Life and Aberdeen have reiterated their commitment to active management – where fund managers actively pick stocks and bonds. Active management has come under pressure from the growing popularity of cheaper index-tracking funds and an increase in costs caused by the introduction of stricter regulatory rules since the financial crisis. ...
Deutsche Bank shares hit by cash call image
Source : BBC [Read Article] Sunday 5th of March 2017 04:57:28 PM
....9bn) payment to US authorities to settle an investigation into mortgage-backed securities. The sale of residential mortgage-backed securities played a significant role in triggering the 2008 financial crisis. ...
Big returns image
Source : BBC [Read Article] Sunday 5th of March 2017 01:39:06 AM
....The figures come from a study by Hargreaves Lansdown, which tracked the performance of 30 equity income fund managers over the 10-year period from December 2006 to December 2016. Given that the period included the financial crisis, when stock markets crashed, it is quite an achievement. ...
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
....Stamped on The buy-to-let tax onslaught should at least give first-time buyers a better chance of getting on the property ladder. Some 335,750 bought their first home last year, the highest number since the financial crisis, Halifax says. ...
A Mini part's incredible journey shows how Brexit will hit the UK car industry image
.... It is made in eastern Europe before being sent to Crewe for further work, then on to Germany for finishing and finally back to Crewe where it is added to the luxury vehicle. The UK automotive industry is right at the centre of concerns about what damage Brexit might inflict on the British economy – because the expansion of car plants since the financial crisis is based on remarkable levels of cooperation with suppliers on the continent. ...
IFS: Growth in UK living standards worst in 60 years image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:01:10 AM
.... In a new report on living standards, poverty and inequality, the IFS says incomes for the average family will not grow at all over the next two years. The IFS calculated that average household incomes will be 18% lower in 2021-22 than could have been reasonably expected in 2007-08, before the global financial crisis took hold of the economy. ...
'Long shadow' of financial crisis hits incomes image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:18:25 AM
. Typical household incomes in the UK will not grow for the next two years due to the "long shadow" of the financial crisis, a report suggests. ...
Recipe for success image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:11:31 AM
....London-based Food@Work is one firm that organises such away days. Launched in 2002, it faced some tough trading in 2008 during the global financial crisis, but says business is now growing strongly again. ...
Hitting rock bottom image
Source : BBC [Read Article] Wednesday 1st of March 2017 12:07:40 AM
.... . The container shipping industry, and Hanjin in particular, has been spectacularly wrong about the financial crisis - twice. ...
UK workers' wages fell 1% a year between 2008 and 2015, TUC says image
Source : Guardian [Read Article] Monday 27th of February 2017 12:01:43 AM
. Workers in the UK saw their wages fall by 1% a year in the period following the financial crisis, putting the country in 103rd place in a global ranking of pay growth compiled by the TUC. ...
The Bank of England fears it may not spot the next crisis. Here’s where to look image
....It was like a private confession broadcast to the nation. When Gertjan Vlieghe cast his eyes down at the desk in front of him and said “we are probably not going to forecast the next financial crisis”, it was a moment of sorrow and self-reproach rarely seen from a Bank of England policymaker. ...
Warren Buffett, 'Oracle of Omaha', criticises Wall Street and praises immigrants image
.... In 2014, Buffett said he planned to put 90% of the money he leaves his wife when he dies into an S&P 500 index fund and 10% in government bonds. During the financial crisis, Buffett bet a founder of the asset management company Protege Partners $1m that a Vanguard S&P 500 stock index fund would outperform several groups of hedge funds of over the 10 years through 2017. ...
On your bike: the best and the worst of city cycle schemes image
Source : Guardian [Read Article] Saturday 25th of February 2017 07:00:05 AM
.... Researcher Alberto Castro Fernandez of the Observatorio de la Bicicleta Pública estimates that of the 130 schemes that launched in Spain before 2010, 65 have closed, half of them shutting within three years of opening. Many were lavishly funded by local authorities prior to the 2007-08 financial crisis and have not survived budget cuts. ...
Royal Bank of Scotland losses more than treble to £7bn image
Source : BBC [Read Article] Friday 24th of February 2017 07:32:39 AM
....The bank - which is 72%-government owned - has racked up more than £50bn of losses since the £45. 5bn taxpayer bailout during the financial crisis. ...
RBS reports £7bn loss and says it will not make profit until 2018 image
Source : Guardian [Read Article] Friday 24th of February 2017 07:27:28 AM
....The 2016 loss was caused by £10bn of one-off items, including £5. 9bn set aside for looming fines and legal costs, largely related to a forthcoming penalty from the US Department of Justice (DoJ) for mis-selling toxic bonds in the run-up to the financial crisis. ...
Former IMF chief gets four years in jail for embezzlement in Spain image
Source : Guardian [Read Article] Thursday 23rd of February 2017 04:40:36 PM
. The former International Monetary Fund chief Rodrigo Rato has been sentenced to four-and-a-half years in prison for misusing corporate credit cards while in charge of two leading Spanish banks at the height of the country’s financial crisis. ...
Lloyds reports biggest profits since financial crash image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 08:49:43 AM
....Profits, which were just £1. 6bn a year ago, have been weighed down in recent years by the £50bn cost of bad lending at HBOS – the bank Lloyds took over during the 2008 financial crisis – and £17bn of charges to cover PPI compensation. ...
Savers told to vote with their feet for best deals, says finance expert image
Source : Daily Express [Read Article] Wednesday 22nd of February 2017 12:01:00 AM
....1billion of deposits from more than 60,000 savers since launching in June 2015. The big banks are still struggling to overcome the financial crisis, with HSBC posting disappointing results yesterday as write-downs hit the bank’s earnings. ...
We are unlikely to spot next financial crisis, Bank of England official says image
. The Bank of England is unlikely to predict the next financial crisis, according to one of the central bank’s leading policymakers, who said economic models were unable to provide flawless forecasts for the UK economy. ...
Hammond in ‘listening mode’ on business rates after backlash from Tories image
.... This is supposed to take place every five years but the previous revaluation was controversially delayed by the government for two years, making the change in bills from April more pronounced. London will be particularly affected because the rental value of property in prime areas has increased substantially since the financial crisis. ...
Co-op Bank faces struggle to find owner with ethics – and deep pockets image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....Coleman is looking for a buyer, and considering other options, to shore up the ruinous financial position created by the disastrous deal between the Co-op and Britannia building society eight years ago. At that time, the talk was of the creation of a mutual behemoth, born out of the ashes of the financial crisis. ...
Treasury plan may allow RBS to avoid selling 300 branches image
Source : Guardian [Read Article] Friday 17th of February 2017 09:29:15 PM
....The chancellor, Philip Hammond, last year cited the branch disposals as one of the hurdles preventing him selling off any more of the 73% stake in the bank. The other problem is the uncertainty over the size of a penalty from the US for a toxic bond misselling scandal in the run-up to the 2008 financial crisis. ...
Britons spend more on food and leisure, less on booze, smoking and drugs image
Source : Guardian [Read Article] Thursday 16th of February 2017 11:03:11 AM
....”. The report showed that households have still not fully recovered from the blow dealt by the financial crisis, with family spending still below 2007 levels. ...
Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen image
.... In 1995, the US Treasury extended financial assistance to Mexico through the Exchange Stabilisation Fund. In 2008, the Federal Reserve provided Brazil with a $30bn swap line to help it navigate the global financial crisis. ...
Treasury hits back at 'scaremongering' over business rate changes image
Source : Guardian [Read Article] Thursday 16th of February 2017 06:01:33 AM
.... This is supposed to take place every five years but the previous revaluation was controversially delayed by the government for two years, making the change in bills from April more pronounced. London will be particularly affected because the rental value of property in prime areas has increased substantially since the financial crisis. ...
UK employment growth driven by foreign nationals, figures show image
Source : Guardian [Read Article] Wednesday 15th of February 2017 10:46:10 AM
....Frances O’Grady, TUC general secretary, said: “With prices rising faster, real pay growth is now slowing down. This will be worrying for families whose have still not seen their living standards recover following the financial crisis. ...
Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:35:18 PM
....Warren quoted Trump’s claim that “friends of mine, who have nice businesses, can’t borrow money”. The senator asked Yellen whether it was true that banks were not lending as a result of the legislation, brought in to curb risky lending after the financial crisis. ...
Blow to City as London offices face £1.4bn rise in business rates bill image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:18:45 PM
.... This is supposed to take place every five years but the previous revaluation was controversially delayed by the government for two years, making the change in bills from April more pronounced. London will be particularly affected because the rental value of property in prime areas has increased substantially since the financial crisis. ...
Toshiba crisis: unions urge government to 'get a grip' on nuclear policy image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:01:48 PM
. Unions are urging the government to take back control of its nuclear strategy after Toshiba’s deepening financial crisis cast fresh doubt about its involvement in the planned Moorside power station in Cumbria. ...
Steven Mnuchin, former Goldman Sachs exec, confirmed as treasury secretary image
Source : Guardian [Read Article] Tuesday 14th of February 2017 12:50:03 AM
....During his Senate confirmation hearing, Mnuchin was aggressively grilled over his tenure at the California-based OneWest bank. In 2009, Mnuchin assembled a group of investors to buy the failed IndyMac bank, whose collapse the year before was the second biggest bank failure of the financial crisis. ...
The Co-op Bank is the new Bradford & Bingley image
Source : Guardian [Read Article] Monday 13th of February 2017 02:34:40 PM
....TSB and Virgin Money look the most likely buyers, and if they have any sense they will seek to maintain some sort of ethical stance to retain the customer base. Meanwhile, the proposed sale leaves Nationwide as the only true challenger bank to the stockmarket-based banks we rescued from the mess of the 2007-08 global financial crisis. ...
For sale: Co-op Bank looks for buyers image
Source : Guardian [Read Article] Monday 13th of February 2017 08:05:49 AM
....Liam Coleman, the chief executive, said it was “business as usual” for customers – which have fallen in number by 700,000 since the problems emerged. He said the turnaround plan had been slowed bylow interest rates and the “sheer scale” of the transformation, in part required after the bank’s merger with the Britannia Building Society just as the financial crisis started. ...
Donald Trump is undermining the fight against corruption image
Source : Guardian [Read Article] Sunday 12th of February 2017 03:25:57 PM
.... Both houses of Congress have voted to gut a law that would have forced US oil, gas and mining companies to disclose their royalty, licensing and other payments to foreign governments. The law was a bipartisan initiative between Democratic Senator Ben Cardin and former Republican Senator Richard Lugar, and formed an amendment to the 2010 Dodd-Frank Act, the law designed to clean up Wall Street after the financial crisis. ...
Instead of draining the swamp, Trump has become Wall Street’s best buddy | Will Hutton image
.... Far from draining the swamp, he is opening the sluicegates; the money men are not so much being hurled out as in full occupation of the economic citadel. Goldman Sachs’ number two, Gary Cohn, is to be Trump’s chief economic adviser; his Treasury secretary, Steve Mnuchin, was 20 years at Goldman Sachs before running OneWest Bank, which made a fortune by improperly foreclosing on mortgages in ethnic minority communities after the financial crisis. ...
Osborne’s bleak Brexit forecast ‘has undermined the Treasury’ image
Source : Guardian [Read Article] Sunday 12th of February 2017 12:04:29 AM
....The Treasury is traditionally Whitehall’s most powerful department and its civil servants some of the brightest and best. But Kerslake finds that its reputation waned in the wake of the financial crisis – and when it published bleak forecasts of the impact of Brexit in the run-up to the referendum, “the public reaction . ...
Five minute guide to choosing to invest in premium bonds image
Source : Daily Express [Read Article] Sunday 12th of February 2017 12:01:00 AM
....Your chances of winning anything will shrink further after last week’s decision by National Savings & Investments (NS&I) to cut the Premium Bonds prize rate, as well as slicing rates on its other savings products. This is yet another blow for beleaguered savers who have seen rates dwindle to near zero since the financial crisis. ...
Sub-prime cars: are car loans driving us towards the next financial crash? image
Source : Guardian [Read Article] Friday 10th of February 2017 03:29:36 PM
.... Everything is sold using leasing deals. These deals are part a colossal buildup of debt in the UK, some of it taken out by people with poor credit scores, and which has some experts warning of an uncomfortable parallel with sub-prime mortgages before the financial crisis. ...
Five reasons why Waitrose is closing stores image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:57:04 PM
.... As Tesco has brought down prices, Waitrose has been forced to follow, contributing to a 1% fall in sales at established stores in the half-year to July. Other initiatives including the introduction of a basics range during the financial crisis in 2009 and a 20% discount for loyalty card holders on 10 items they regularly buy will also have squeezed profit margins. ...
Men earn £12,500 less in 20s than generation before, research shows image
Source : Guardian [Read Article] Thursday 9th of February 2017 12:01:07 AM
.... Millennials today are the first to earn less than their predecessors. While that in part reflects their misfortune to come of age in the midst of a huge financial crisis, there are wider economic forces that have seen young men in particular slide back,” he will say. ...
Brexit will cost UK 30,000 finance jobs, says Brussels thinktank image
Source : Guardian [Read Article] Tuesday 7th of February 2017 11:01:00 PM
....According to the economics thinktank’s model, Frankfurt would be the biggest winner, with Paris, Amsterdam and Dublin also making gains. But the researchers warn that having a more geographically diverse spread of financial institutions, without stronger oversight of banks, would heighten the risk of a banking meltdown in the event of an acute financial crisis. ...
England's housing market is 'broken', government admits in white paper image
Source : Guardian [Read Article] Tuesday 7th of February 2017 01:32:18 PM
....He placed the blame almost entirely on low rates of house building, telling MPs that the number of home completions in England has been lower than anywhere else in Europe, relative to the population, for the last three decades. Javid said house building needs to rise to 225,000 to 275,000 units a year compared with 190,000 built in 2016 and as little as 95,000 following the financial crisis. ...
UK house prices fell in January for the first time in five months image
Source : Guardian [Read Article] Tuesday 7th of February 2017 10:34:19 AM
....”. Halifax estimates that the number of first-time buyers rose by 7% last year to 335,750 – the highest level since the start of the financial crisis in 2007. ...
Trump's bonfire of banking rules could burn us all | Nils Pratley image
Source : Guardian [Read Article] Monday 6th of February 2017 07:14:50 PM
.... In fact, the reverse seems more likely: credit availability in the US is strong, which is exactly what you’d expect given the healthy returns being reported by US banks. But that hasn’t stopped the new administration from trying to blame the Dodd-Frank regulations, the country’s response to the financial crisis of 2008-09, for all manner of ills. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
.... Along with London and New York, it is one of the top three centres for the insurance industry globally. But the financial crisis led to an exodus of the best-trained workers and a reduction in financial services income from which Bermuda is only just beginning to recover. ...

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