News and comment
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Welcome to your on-line financial newsletter. This service is regularly updated to bring you news of important developments in financial matters.
General Finance News
- Credit crunch could get worse, Bank of England warns
1st May 2008
The Bank of England (BoE) has warned the reluctance of banks to take on risk by refusing to extend credit could fuel the credit crisis.
- Couples keep cash separate
30th Apr 2008
Some 71 per cent of couples keep separate accounts from their partners, according to research by PayPal.
Insurance and Protection
- Insurers 'need to change global warming thinking'
3rd Apr 2008
Insurance providers and other organisations need to do more to consider the effects of climate change on their businesses, according to one expert.
- Demand for Islamic insurance 'on the rise'
25th Jan 2008
The demand for Islamic insurance, which is compliant with sharia law, is "constantly growing", HSBC has said.
Investments
- Lloyds TSB seen surviving credit crunch
6th May 2008
High street bank Lloyds TSB has announced substantially smaller damage from the credit crunch than its rivals, suffering a £387 million writedown.
- Shell 'to sell stake' in London Array scheme
2nd May 2008
Shell has decided to sell its stake in the London Array offshore windfarm scheme, leading some industry experts to question the future of the renewable energy project, the Guardian has reported.
Pensions
- Pensions Regulator urged to investigate risks
24th Apr 2008
An influential committee of MPs has urged the Pensions Regulator to look at risky money purchase schemes.
- Retirees face four times more debt than ten years ago
26th Mar 2008
Borrowers approaching retirement owe four times more in debts than ten years ago, according to a report.
Borrowing
- Interest rate freeze from Bank of England
8th May 2008
Interest rates are to be held at five per cent, the Bank of England has announced.
- Bank puts mortgage approvals at 15-year low
29th Apr 2008
The Bank of England has admitted that UK mortgage lending has fallen to a 15-year low.
Property
- House prices slump to 6.7% in February
15th Apr 2008
Government figures show house prices slipped 1.6 per cent during February, confirming reports of a property market slowdown.
- FT: March house prices remain flat
11th Apr 2008
Property prices in England and Wales stayed flat during March, according to the latest house price survey from the Financial Times (FT).
Tax Planning
- Business leader attacks government over tax changes
15th Apr 2008
CBI head Richard Lambert has attacked the government for "ill considered political decisions", which have damaged the UK's reputation as a haven for entrepreneurs.
- Tax cheats cost economy £1bn a year says report
3rd Apr 2008
HM Revenue and Customs misses out on £1 billion every year in unpaid tax and could be imposing higher penalties, the National Audit Office (NAO) said in a report.
Corporate Planning
- UK businesses stung by £12.6bn through crime
9th Apr 2008
Crime levels against businesses in the UK have risen by a fifth over the last four years, a survey showed on Wednesday.
- Downcast growth forecast from Institute of Directors
7th Apr 2008
The Institute of Directors (IoD) has predicted UK growth will fall to 1.7 per cent in 2008 and slide further to 1.5 per cent the following year.
Offshore Investments
- Brits could get £37m rebate on illegal Spanish tax bills
11th Apr 2008
An illegal capital gains tax (CGT) on British sellers of Spanish property could lead to hundreds of rebate claims, according to a Spanish lawyer.
- American subprime collapse cost $100bn
9th Apr 2008
The collapse of the subprime mortgage market in the US will cost the world economy $945 billion (£472 billion), the International Monetary Fund (IMF) has said.
Mergers and Aquisitions
- British Energy shares rise on rumoured EDF bid
11th Apr 2008
Shares in British Energy rose on reports French energy group EDF is readying a bid for the whole company.
- JP Morgan increases offer for Bear Stearns to $10 a share
25th Mar 2008
JP Morgan upped its offer for stricken investment bank rival Bear Stearns yesterday after reportedly coming under intense shareholder pressure.
