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Latest Finance News related to High Interest Rate

Libor requests need not break rules, court hears image
Source : BBC [Read Article] Thursday 9th of March 2017 11:08:42 PM
...."It is a dirty little secret that this is not always the case," he wrote. The court also heard a transcript of a telephone conversation from 29 November 2007 where Mr Ewan discussed with a senior Barclays executive, Miles Storey, how banks were borrowing at a high interest rate but making submissions that said they could borrow at a lower one. ...
Devil-may-care investors fall under spell of Trump-mania image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:31:01 PM
.... In tandem, investors have expanded their lending to the corporate sector to embrace some of the riskiest businesses. These are companies that are usually forced to borrow money at sky-high interest rates after analysts have looked them up and down and agreed that they are at the greatest risk of going bust. ...
Payday loans are capped. Now let’s tackle other high-cost credit | Gillian Guy image
....The rent-to-own market, which provides household goods on credit, is also not covered by the cap. Consumers face high interest rates and are also charged large fees for add-on costs such as insurance and aftercare, which can mean people end up paying two to three times as much for products as they would on the high street. ...
Chrsitmas sales UK - An essential survival guide to Boxing Day and January sales image
Source : Daily Express [Read Article] Wednesday 28th of December 2016 07:14:00 AM
....When paying at the till, Pugh says you should resist signing up to the store’s credit card scheme. “Most may offer discounts on first use, but high interest rates mean you usually end up paying more in the long run,” he says. ...
Smart money? image
Source : BBC [Read Article] Friday 2nd of December 2016 12:23:08 AM
....Rival student finance firm SoFi adopts a similar technique to CommonBond, but comes at it from a different angle, assisting students who have already taken out loans to refinance. Its co-founders saw a gap in the market when they noticed their peers at Stanford Business School were paying high interest rates in spite of being relatively low-risk borrowers. ...
National Grid looks to benefit from Trump infrastructure plan image
Source : Guardian [Read Article] Thursday 10th of November 2016 05:02:29 PM
....The firm repurchased £1. 9bn of debt with a high interest rate, a move Pettigrew said would benefit the firm through lower interest payments and bolster the sale price of its gas network. ...
Rent-to-own debts rise as Citizens Advice warns on new types of loans image
Source : Guardian [Read Article] Tuesday 27th of September 2016 08:58:29 AM
....However, problems with other types of sub-prime borrowing, where there is no cap on costs, have increased. As well as high interest rates, the charity said rent-to-own firms were applying compulsory service charges sometimes running into hundreds of pounds. ...
Switch to a market-leading current account for the best returns image
Source : Daily Express [Read Article] Wednesday 21st of September 2016 02:03:00 PM
.... . However, Springall said savers should consider using a current account to beat record low rates: “With high interest rates, exclusive products and even rewards on spending, there is an abundance of great incentives available. ...
How to get an 11 per cent risk-free return on your cash using THIS method image
Source : Daily Express [Read Article] Tuesday 20th of September 2016 02:04:00 PM
....“The most important rule in using current accounts to earn cash is to meet eligibility criteria, which could be minimum funding requirements, or the need to bank online or set up direct debits, so it’s important to be aware of these before switching. "A decent current account can give customers so much more than just free cash; with high interest rates on offer, exclusive products and even rewards on spending, there is an abundance of great incentives available. ...

Philip Hammond still needs to be a deficit hawk
 image
Source : Telegraph [Read Article] Wednesday 27th of July 2016 09:28:21 AM
....After the First World War the government also ran big primary surpluses but, even then, the debt burden did not come down dramatically. This was partly because of deflation and partly because of high interest rates. ...

Credit card crackdown: 5m card holders to receive texts when deals end - and 'rip-off' fees kick in 
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....9 per cent a year thereafter, plus an extra 4 per cent to transfer the balance to another provider. The average UK credit card debt is £1,100 meaning even it can take months or even years to clear debts - especially when high interest rates and fees are added. ...
Unplanned overdraft fees 'four times costlier than payday loans' image
Source : Guardian [Read Article] Saturday 9th of July 2016 06:00:09 AM
....The organisation said its findings showed that regulators needed to crack down on “punitive” unauthorised overdraft charges that were causing harm to vulnerable customers. Which? suggested that unauthorised overdrafts were now more expensive than payday loans, which are notorious for their high interest rates: Wonga charges a representative APR of 1,509%. ...
Rent-to-own firms 'selling to vulnerable people' image
Source : BBC [Read Article] Sunday 3rd of July 2016 11:05:20 PM
....Rent-to-own companies are selling products to vulnerable people with mental health problems and learning disabilities, the BBC has found. The firms allow customers to pay for a household item in instalments, with high interest rates, until they own it. ...
Cash crop image
Source : BBC [Read Article] Wednesday 22nd of June 2016 11:00:50 PM
....The lack of commercial credit has opened up opportunities for private lenders who want to step into the cannabis industry. The average loan is $750,000 and has a high interest rate because of the risks associated with the industry. ...
Student loans ‘really were’ mis-sold image
Source : Guardian [Read Article] Saturday 4th of June 2016 06:01:02 AM
.... I thought I agreed with Vince Cable, who defended the move as a sensible way to fund a massively expanded higher education system. Then, after my daughter had already clocked up a term’s worth of loan, I was alerted to the high interest rate payable on the £9,000. ...
Student loans: the next big mis-selling scandal? image
Source : Guardian [Read Article] Saturday 28th of May 2016 05:59:26 AM
.... As one student wrote below Crowther’s post: “I was always under the impression that the interest rate would be inflation plus 3% – no prospective students were lied to. Yes, this is an extremely high interest rate but we have not been led on to believe it would be anything less. ...
We need to talk about inflation – the great debate missing from this election campaign | Greg Jericho image
....If anything explains the weak state of the economy right now it is the lack of debate over interest rates in this election campaign. In 2004, the LNP asked voters who they trusted to keep interest rates low and they ran adverts full of horror and fear about high interest rates under the ALP (which ignored those under the Fraser-Howard government). ...
Two cheers for Google’s ban on payday loan ads image
Source : Guardian [Read Article] Saturday 14th of May 2016 06:01:29 AM
. Successive British governments refused to cap super-high interest rates, which is how we allowed Wonga to charge its poor borrowers up to 5,853%. ...
'Dangerous' payday loans join guns and drugs on Google's banned ad list image
Source : Guardian [Read Article] Wednesday 11th of May 2016 05:17:26 PM
.... Payday lending is a $46bn industry, and there are more payday loan storefronts in the US than McDonald’s and Starbucks combined. The lenders – who generally give out small loans – use extremely high interest rates and target vulnerable, low-income communities, often entrapping people in circles of debt. ...
Five-minute guide to changing your current account image
Source : Daily Express [Read Article] Sunday 24th of April 2016 04:53:00 PM
....com, says far more people should be switching given that there are an estimated 65million active current accounts in the UK. He urged more to move to get a better deal and put pressure on the banks to raise their game: “There are plenty of enticing deals offering high interest rates, cash incentives and other perks, so it is well worth shopping around. ...
REVEALED: The banks losing THOUSANDS of customers every month as they find better deals image
...."At the same time consumers should continue to put pressure on banks by switching provider if they aren’t happy with their current deal. "On average people save £70 a year by switching and there are plenty of enticing deals currently on the market, offering high interest rates, cash incentives and other perks, so it’s well worth shopping around as there may be a better offer elsewhere. ...
IMF warns of fresh financial crisis image
Source : Guardian [Read Article] Wednesday 13th of April 2016 01:00:16 PM
....”. It added that there was a risk investors would demand high interest rates and that tougher financial conditions would create a “pernicious feedback loop” of fragile confidence, lower growth and inflation, and rising debt. ...
Revealed: the $2bn offshore trail that leads to Vladimir Putin image
Source : Guardian [Read Article] Sunday 3rd of April 2016 05:50:31 PM
.... There is no explanation in the files of why the banks agreed to extend such unorthodox credit lines. Some of the cash obtained from RCB was also lent back onshore in Russia at extremely high interest rates, with the resulting profits siphoned off to secret Swiss accounts. ...
The  loans that have left councils impoverished and saddled with debt image
Source : Guardian [Read Article] Friday 1st of April 2016 08:43:17 AM
....In 2009, 30 housing associations took out lobos after the financial industry took to selling them to local authorities and social landlords on an industrial scale. Borrowers thought they were insuring themselves against possible high interest rates, but the derivatives built into the loans meant that the costs were linked to market performance, so borrowers actually pay more when rates fall. ...
Leading market historian: 'Shares could halve from here' image
Source : Telegraph [Read Article] Friday 12th of February 2016 08:03:51 AM
.... . As interest rates are key in assessing the present value of future earnings, low interest rates are good for share prices and high interest rates are bad. ...
'Can I set up a £1 direct debit to qualify for a high interest current account?' image
.... . A number of providers have geared up their current accounts and as well as offering high interest rates, are now also attempting to woo customers with generous switching bonuses and cashback reward schemes. ...
Britain has been fully reimbursed for Icesave bank collapse, Iceland says image
Source : Guardian [Read Article] Wednesday 13th of January 2016 01:11:30 AM
....“Remember Icesave?”, Iceland’s foreign ministry wrote on Twitter, adding a link to an article about the reimbursement on the English-language website of the Icelandic daily Morgunbladid. Hundreds of thousands of British and Dutch savers lured by high interest rates lost deposits worth billions of euros after the privately-owned Landsbanki bank, the parent company of Icesave, and other financial institutions went bust when Iceland’s financial system collapsed in 2008. ...
After eight years, Iceland reimburses Britain for Icesave collapse image
Source : Telegraph [Read Article] Tuesday 12th of January 2016 07:35:05 PM
....co/EZuj09kSd8. Hundreds of thousands of British and Dutch savers lured by high interest rates lost deposits worth billions of euros after the privately-owned Landsbanki bank, the parent company of Icesave, and other financial institutions went bust when Iceland's financial system collapsed in 2008. ...
Why millennials should use holiday expenses to build credit card knowhow image
Source : Guardian [Read Article] Friday 4th of December 2015 12:00:21 PM
.... Put the big-ticket items on the cards with the lowest interest rates, so that if it does take you a month or two longer to pay off those purchases, you won’t be feeling the pain quite as much. If you’ve got a card or two that you know charges particularly high interest rates, lock them out of sight for the duration. ...
Watchdog tackles 500 complaints from Santander borrowers locked on high rates image
. Around 500 Santander mortgage borrowers have complained to the Financial Ombudsman that the lender is profitting by keeping them trapped on a high interest rate and refusing to offer them a better deal. ...
Poverty premium: why it costs so much more to be poor image
Source : Guardian [Read Article] Tuesday 10th of November 2015 07:03:01 AM
....Personal loan rates among mainstream lenders are heading towards 3% on large sums, but some short-term lenders are still charging almost 100 times as much for smaller amounts. And goods bought on credit from monthly payment stores come with high interest rates, charged on prices that are already not the keenest. ...
Indonesia's growth picks up momentum image
Source : BBC [Read Article] Thursday 5th of November 2015 05:43:15 AM
....67% growth in the second quarter. Weak consumer spending, slumping commodity prices, along with high interest rates have impacted growth. ...
The islanders who are experts with cash image
Source : BBC [Read Article] Friday 16th of October 2015 08:49:54 PM
....If your record is so poor that you can't get a normal credit card, you can always take out a card specifically designed for those with bad credit scores. Such cards typically have very high interest rates, of around 35%. ...
Aussie dollar decline boosts tourism image
Source : BBC [Read Article] Thursday 15th of October 2015 11:24:08 PM
.... . The re-energised US dollar and Australia's relatively high interest rates play a part, too. ...
Starbucks to help staff by paying rent deposits image
Source : Telegraph [Read Article] Friday 25th of September 2015 07:58:00 AM
.... . The corporation transferred money to a Dutch sister company in royalty payments, bought coffee beans from Switzerland and paid high interest rates to borrow from other parts of the business in order to post losses. ...
Call for payday loans overhaul after teenager killed himself on the day Wonga emptied his bank account image
.... . Payday loan companies and brokers have been criticised in recent years for charging high interest rates and one-off fees to customers who are often the poorest in society. ...
'Which current accounts will pay the most interest on my £12,000 savings?'  image
Source : Telegraph [Read Article] Tuesday 22nd of September 2015 06:32:46 AM
.... . “The trick is to ensure that you’ve always got each account funding the next, moving money from one into the other so you’ll meet the funding requirements, whilst still maintaining the balances required to earn the high interest rates,” Ms Hannums said. ...
Wow: Iceland's latest low-cost airline offers a £99 bridge to the US image
Source : Guardian [Read Article] Friday 18th of September 2015 03:30:57 PM
....Iceland has not always been kind to people wishing to fly, or even those searching for the best online deal. Savers attracted by high interest rates had billions in their Icesave bank accounts temporarily frozen in 2008. ...
Revealed: the countries where house prices are rising the most image
Source : Telegraph [Read Article] Thursday 17th of September 2015 12:00:10 PM
....6pc between April and June on a quarter-by-quarter basis. These sharp house price falls are mainly attributable to the high interest rates imposed to fight hyperinflation, the authors said. ...
Brazil reduced to junk as BRICs facade crumbles image
Source : Telegraph [Read Article] Thursday 10th of September 2015 07:28:27 PM
.... Brazil fell victim to the "Dutch Disease” during the boom, becoming dependent on commodity exports to China, while the manufacturing base shrivelled to 10pc of GDP. The real became far too strong, made worse by a fatal policy mix: inflationary budget spending, which the central bank had to counter with high interest rates. ...
Source : Reuters [Read Article] Wednesday 9th of September 2015 06:18:48 AM
.... A proposed Bank of England (BoE) overhaul of credit unions would make it harder for these local savings and loans organisations to compete with banks, industry officials said on Tuesday. Lawmakers and bodies such as the Church of England want to see credit unions compete better with the "Big Four" banks that dominate the British market for current or checking accounts and personal loans, as well as with "payday" lenders charging high interest rates to those lacking access to other forms of credit. ...
Is austerity saving or sinking Brazil? image
Source : BBC [Read Article] Thursday 27th of August 2015 11:01:46 PM
.... . The logic was that with a combination of budget cuts and high interest rates, Brazil's inflation would be kept under check and the economy could slowly emerge out of crisis in a stronger financial position. ...
Next banks £170m in interest charges from shoppers image
Source : Guardian [Read Article] Sunday 2nd of August 2015 11:50:43 AM
....”. The consumer watchdog Which? said: “Some ‘buy now, pay later’ deals may charge you very high interest rates even if you’re just a single day late in repaying. ...
Source : Reuters [Read Article] Monday 27th of July 2015 09:19:25 AM
...."We have been encouraged that Cash Genie has been working with us proactively and openly to put things right for its customers after these issues were reported," FCA acting director of retail supervision, Linda Woodall, said in a statement. Payday lenders, which provide short-term loans to tide people over until pay day, have come under scrutiny for charging borrowers sky-high interest rates and exorbitant fees. ...
Greek crisis - IMF crisis image
Source : BBC [Read Article] Wednesday 15th of July 2015 05:22:20 PM
.... . Many believe it has been a slave to free market economics, imposed inappropriate privatisation programmes, tough spending cuts and high interest rates which can turn modest problems into full blown crises. ...
Yanis Varoufakis: His finest and most controversial moments image
Source : Telegraph [Read Article] Monday 6th of July 2015 11:47:24 AM
.... He told the New York Times in 2010: . You do not lend money at high interest rates to the insolvent and you do not introduce austerity into a recession,'' he said. ...
Lloyds bonds: case to go to Appeal Court 'by July 31' image
Source : Telegraph [Read Article] Monday 22nd of June 2015 11:28:01 AM
.... Bondholders had expected to receive the interest until maturity, on dates ranging from 2019 to 2029. The high interest rates mean that Lloyds could find alternative funding much more cheaply elsewhere. ...
If HSBC is leaving, why still bank on Brazil? image
Source : BBC [Read Article] Friday 12th of June 2015 12:43:43 AM
....Competition and efficiency flourished, with foreign groups such as Spain's Santander and Netherland's ABN Amro investing heavily in Latin America. But one single factor remained vital for bankers - Brazil's growth model depended on high interest rates. ...
Big fall in payday loan problems reported to Citizens Advice image
Source : Guardian [Read Article] Thursday 11th of June 2015 04:54:49 PM
.... These loans have been compared with using a pawnbroker, in that full ownership of the car is retained until the loan has been paid off. But issues reported to Citizens Advice about logbook loans include high interest rates, excessive fees and charges and aggressive behaviour when collecting debts. ...
Source : Independent [Read Article] Saturday 6th of June 2015 08:00:00 PM
.... . The good news is that we don’t need high interest rates now, or at least not the double-digit ones we had then. ...
Starbucks CEO slams Obama administration for failings on diversity and equality image
....5m in corporation tax since coming to Britain, despite sales of £3bn. The corporation transferred money to a Dutch sister company in royalty payments, bought coffee beans from Switzerland and paid high interest rates to borrow from other parts of the business in order to post losses. ...
How Turkey's economy went from flying to flagging - and could get worse image
Source : Telegraph [Read Article] Saturday 30th of May 2015 01:00:37 PM
.... Mr Erdogan has been criticised for his meddling in the central bank. In March, he suggested Erdem Basci, a central bank governor, was under foreign influence and he has referred to a “high interest rate lobby”. ...
Pensioners locked out of best current account deals image
Source : Telegraph [Read Article] Tuesday 19th of May 2015 03:02:53 PM
.... . In the topsy-turvy world of record low rates on traditional savings accounts, and high interest rates of up to 5pc on current accounts, savers are increasingly turning to current accounts to maximise the returns on their money. ...
Source : Reuters [Read Article] Tuesday 19th of May 2015 06:15:16 AM
....4 million) a week. But the business, founded by South African entrepreneur Errol Damelin, hit trouble when its sky-high interest rates came under scrutiny from lawmakers and its debt collection practices, including sending its customers fake legal letters, were exposed by Britain's consumer watchdog. ...
Russia cuts rates as rouble rallies image
Source : BBC [Read Article] Thursday 30th of April 2015 12:00:05 PM
....The reduction in the main lending rate was larger than the one-percentage-point cut that analysts had expected. The rouble has rallied in recent weeks, reducing the need for high interest rates to defend it. ...
Santander smashes target as it poaches customers from rivals image
Source : Telegraph [Read Article] Tuesday 28th of April 2015 04:25:23 PM
.... Of the 1. 6m people that have used the service, Santander, which offers its customers high interest rates and cashback, has taken more than a quarter. ...
More people are switching current accounts – but what do the figures mean? image
Source : Independent [Read Article] Wednesday 22nd of April 2015 11:00:00 PM
....“But in recent months we’ve also seen the market heat up. As well as switching incentives of up to £150, current accounts are becoming increasingly attractive thanks to high interest rates and monthly cash rewards. ...
Putin tempts Tsipras with promise of lucrative gas deals… but can Russia really save Greece’s skin? image
....If the oil price falls again, Odendahl said, it could plunge the country into economic crisis. Russia would then have enough to worry about of its own: high interest rates, poor access to finance and inflation, which would erode disposable incomes, worsening a recession. ...
Lloyds bonds: how the bank was persuaded to compromise image
Source : Telegraph [Read Article] Thursday 2nd of April 2015 05:31:41 PM
.... >> READ: Lloyds accused of 'outrageous abuse of savers' as it tries to close top-paying bonds . The fact that repurchase of the bonds would take place at face value is crucial, because the bonds had been trading at far higher prices as a result of their high interest rates. ...
Dead and buried – but how soon will inflation rise again? image
Source : Telegraph [Read Article] Sunday 29th of March 2015 09:30:49 PM
.... The years between 1974 and 1981 were a sharp contrast. They marked the watershed: rampant inflation, high interest rates, fitful growth and high unemployment. ...
Debt in Britain: Numbers seeking help on how to cope with mounting bills goes up by more than half in three years image
.... “The next government must make tackling problem debt a major priority. ” Dealing with the personal debt crisis, he said, would require measures such as helping people build up savings buffers and providing better protection from high interest rates and charges on loans. ...
Help to Buy equity loan borrowers face rate traps image
Source : Telegraph [Read Article] Saturday 21st of March 2015 12:07:42 PM
. Thousands of homeowners who used the Help to Buy equity loan scheme two years ago could be forced onto a high interest rate or left with little equity in their property when their fixed deals come to an end. ...
How do I rebuild my credit rating after bankruptcy? image
Source : Guardian [Read Article] Friday 20th of March 2015 07:00:06 AM
.... In the meantime, you can build up your credit profile just by using your current account and its modest overdraft facility. The charity Money Advice Trust suggests you investigate the various products available to help people restore bad credit, including credit cards with low limits (and rather high interest rates). ...
The real story on young vs old: who's robbing whom? image
Source : Telegraph [Read Article] Sunday 8th of March 2015 07:00:25 AM
.... The truth is more complex than the stereotypes. “Baby boomers”, those now either retired or close to pensioner age, were raised through postwar austerity and weathered terrifyingly high interest rates in the Seventies and Eighties. ...
Money roundup video: Rent-to-own investigation demanded image
Source : Independent [Read Article] Tuesday 10th of February 2015 01:38:57 PM
....Investigation called today into rent-to-own retailers. MPs have highlighted the dodgy practices by high street retailers that flog sofas and fridges at high interest rates and demand intervention by the City Watchdog. ...
The ECB has learnt nothing from Japan's lost decade image
Source : Telegraph [Read Article] Monday 9th of February 2015 09:23:57 AM
.... . “Low interest rates are generally a sign that money has been tight, as in Japan; high interest rates, that money has been easy,” he wrote. ...
Indonesia economy grows at slowest pace in five years image
Source : BBC [Read Article] Thursday 5th of February 2015 06:41:12 AM
...."The country's new president, Joko Widodo, despite a promising first few months in office, faces a tough challenge to reinvigorate the economy," he wrote in a report. "While we don't think growth will slow any further from here, we think a rebound is unlikely in the short-term, with weak commodity prices and high interest rates set to weigh on economic activity. ...
'Self-cert' mortgage borrowers stuck on high rates image
Source : Telegraph [Read Article] Saturday 31st of January 2015 09:08:09 AM
. Borrowers with “self-cert” loans are increasingly becoming mortgage prisoners, trapped in their homes on very high interest rates. ...
Russia cuts interest rates from 17% to 15% image
Source : BBC [Read Article] Friday 30th of January 2015 11:30:39 AM
....The interest rate is still extremely high, she said, and the economy is vulnerable to low oil prices and concerns about further sanctions. Nevertheless, the high interest rate may be cushioning the rouble against other currencies. ...
Sadly for all our futures, cheap money is here to stay. Just get used to it image
Source : Telegraph [Read Article] Tuesday 27th of January 2015 06:31:15 PM
.... Back then, virtually everything was tried to free Britain from its inflationary curse. There was beer and sandwiches with union leaders, wage controls, price controls and sky high interest rates. ...
Green Deal nightmares: 'British Gas botched our insulation – then offered £50 Nando’s meal'  image
.... . Green Deal loans, which typically charge borrowers a high interest rate of 6pc‑7pc, were also criticised by the Energy & Climate Change Select Committee’s inquiry. ...
Jean-Claude Juncker’s Luxembourg tax haven problem image
Source : Independent [Read Article] Friday 21st of November 2014 02:06:24 AM
....However, it is not his alleged fondness for cognac and fireside chats that have overshadowed his first few weeks in power, but his policies during 18 years running the tiny landlocked nation of Luxembourg. Its 500,000 citizens enjoy the highest per capita income in the EU, thanks to its policies encouraging large multinational corporations to park their profits in the Grand Duchy in exchange for low taxes, high interest rates and relatively few questions asked. ...

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