In an unprecedented and devastating attack, Sir John Gieve hit out at the ‘tripartite’ system set up by Gordon Brown in 1997 to manage the economy. He said the combined efforts of the Treasury, the Bank of England and the Financial Services Authority after the events of August 2007 - when credit markets froze […]
The Council of Mortgage Lenders said 40,000 homeowners lost their properties, up from 25,900 in 2007, having fallen behind with their mortgage payments.
The CML reported that around 10,400 properties were taken into possession by first charge mortgage lenders in the final three months of 2008. This was down from 11,100 in the previous quarter […]
Unfortunately, npower keeps harassing me for payment of electricity that I have not had. Despite regular correspondence and complaints from me, they keep sending me bills dating back to June 2007. So far they say I owe them £283.05, based on estimates from a non-existent meter in my property. How do I get […]
The ultra low-cost US mutual fund group Vanguard has announced its intentions to launch into the already crowded UK market.
It gained fame for bargain tracker funds with fees that are a fraction of the cost of traditional rivals.
The group, which manages more than $1.1 trillion in assets and serves more than 23m individual and […]
The Confederation of British Industry’s latest economic forecast says the economy will shrink by 3.3% in 2009, compared with its November forecast of a 1.7% contraction.
Net borrowing for 2009-10 is expected to reach £149bn, compared with the £118bn predicted by Chancellor Alistair Darling in his Pre-Budget Report last year.
It will rise to £168bn in […]
Parent company Stylo said it as ‘disappointed’ to report talks with creditors and landlords aimed at retrieving the stores from administration had failed.
Stylo will be placed into administration as a result.
This week Stylo chief executive Michael Ziff said if the proposals were voted down it would ‘threaten the employment of some 5,400 people’.
PriceLess and […]
Sir James said he was confident there was ‘no substance’ in the allegations, but felt the ‘right course of action’ was to resign from the FSA board.• MPs no match for ‘fatcats’ who get away with it • Bankers: We’ll sue for our bonuses • City Focus: Spotlight on City exuberance […]
The latest report from the Royal Institution of Chartered Surveyors (Rics) showed buyer inquiries rising for the third month in a row, with 16% more of its estate agents reporting a rise in potential buyers than a fall.
But average sales per agent, over the three months to January, fell to a new record low […]
The site may be unique, but there are questions over whether it will evolve into a bargain
Are you tired of trawling savings tables looking for a decent savings rate for the considerable amount of money you have set aside?
Do you think banks have it easy as they get to dictate savings rates? And […]
One in four workers say they can no longer afford to call it a day when they had planned because of the recession, which has hammered investment and pension returns, interest rates and property prices.
But the problems faced by those on the verge of retirement today are only a taste of things to come […]
© 2008 Daily Financial News