|
FM News:
FM Main:
FM Features:
|
October 23, 2007
by Kay Murchie
A new legislation is being considered by the credit industry which allows you to legally ‘freeze’ your credit history to prevent fraudsters from opening accounts in your name. The system has already been in place for several years in 40 US states.
As the move is protected in US law, the lender must bear any liability if a fraudulent account is ...
by Kay Murchie
British Energy has revealed it is to close down 4 nuclear reactors and shut off a quarter of generating capacity for the immediate future.
The revelation came after corrosion was discovered during routine inspections at the weekend at its Reactor 1 Hartlepool nuclear power station. The corrosion was discovered in wire-winding in the steel and concrete encasement around the ...
by Gill Montia
The National Association of Estate Agents (NAEA) has published its September survey with data indicating a slowdown in the housing market.
The number of both sales agreed and buyers on estate agents' books were down for the time of year, while the volume of houses for sale was high.
Eleven sales per agent were agreed in September 2007, compared with 12 per agent in ...
by Gill Montia
Forecasts of a slump in the UK property market do not seem to have deterred the majority of the population, with 62% still believing the value of houses will continue to rise.
However, only 44% of property investors hold the same opinion and the Association of Investment Companies (AIC) is warning that large numbers of people could be in for a shock.
An ...
October 22, 2007
by Elaine Frei
European markets were lower Monday as subprime concerns reemerged. The FTSE Eurofirst 300 dropped 1.3 percent to 1,543.56 while Madrid’s IBEX fell by the same percentage to 15,327.8. The Dax fell 1.13 percent to 7,794.94 while the CAC-40 was 1.38 percent lower to 5,661.27. In London, the FTSE 100 fell 1.05 percent to 6,459.3 and the FTSE 250 ...
by Kay Murchie
Almost 20,000 young graduates have had their overdraft facilities accidentally removed by Barclays. The bank traditionally migrates graduates from the Higher Education account to the Barclays current account at this time of year.
But an ‘internal processing issue’ has resulted in cash-strapped graduates having their overdraft facility removed and those who have gone into the red are being fined for making ...
by Gill Montia
Paragon, the mortgage lender, has published its October Buy-to-Let Index showing the annual total return on the average buy-to-let property at its highest level since summer 2006.
The demand for rented accommodation has been fuelled by the number of potential first-time buyers deferring the purchase of a home.
This reticence on the part of first-time buyers is likely to continue until the economic environment ...
October 19, 2007
by Elaine Frei
Most European markets were lower again, with IBEX again the notable exception with a gain of 0.15 percent to 15,529.7. The FTSE Eurofirst 300 dropped 0.56 percent to 1,564.44, while the CAC-40 was down 0.46 percent to 5,740.48 in Paris and the Dax was 0.47 percent lower to 7,884.12 in Frankfurt. London’s markets were also lower again. The FTSE 100 ...
by Kay Murchie
The Association of British Insurers (ABI), the industry trade body, has revealed that there is a significant increase in fraudulent insurance claims and sincere policyholders are suffering as a consequence with an average £40 being added to premiums.
The ABI added that fighting insurance fraud is costing the industry £1.6 billion a year.
The ABI has declared that one in 11 claims ...
by Kay Murchie
With just over 9 weeks to go until Christmas, you will see that many shops are already preparing for the festive season so this is a good time to look at personal finances and find the best credit card deals so you can profit from Christmas spending.
According to Moneyfacts.co.uk, last Christmas the average Briton spent over £500 on presents. However, smart shoppers ...
by Gill Montia
Mortgage lending figures for September provide further evidence of a slowdown in the UK property market.
According to the Council of Mortgage Lenders(CML), the total value of mortgage loans fell by 12%, or £4 billion, last month.
September normally sees a decline in mortgage lending because it is the beginning of a quieter period for the property market, but the average decline is 5%. ...
October 18, 2007
by Elaine Frei
Equities markets in Asia and the Pacific remained mixed once again on Thursday. The Sensex dropped 3.83 percent to 17,998.39 at the close. Elsewhere, the Shanghai Composite was 3.5 percent lower to 5,825.28, and the Straits Times index was down 0.78 percent to 3,809.69 in Singapore. Among gainers on the session, the Hang Seng index added 0.57 percent to ...
by Kay Murchie
Aviva, the parent company of Norwich Union, is proposing to cut £300 million in costs over the next 2 years which will lead to job losses.
Aviva’s new chief executive, Andrew Moss, said the savings target is part of a push of new group business targets presented to investors in New York. He added that it would be naive to say there ...
by Kay Murchie
According to moneysupermarket.com, Pay As You Go (PAYG) mobile phones make up 50% of all new and existing mobile connections in the UK, consequently, the website has introduced a new comparison tool.
A spokesperson for moneysupermarket.com said the launch of this comparison facility provides all types of mobile users with the facility to find the cheapest phone on the best tariff ...
by Gill Montia
According to Moneyfacts, the financial information website, tighter lending criteria and a rise in interest rates has led to a 40% decrease in the range of mortgages available to those seeking to buy a home or remortgage.
In the first half of 2007, the number of home loans on offer increased by 22% but since July, product choice has reduced dramatically for both ...
by Kay Murchie
Morgan Stanley is cutting 300 credit-related roles globally. Approximately 200 jobs will be axed in the US with the remainder in Europe and a few in Asia, 50 redundancies are to be made in the London office.
The job losses come 2 weeks after the group announced it would make 600 people redundant in its mortgage origination business. The redundancies also follow ...
by Gill Montia
The International Monetary Fund (IMF) has issued a report warning that the UK could follow in the wake of the US, in terms of a house prices crash.
The IMF believes that the global credit shortage could impact severely on the over-valued UK property market.
The report takes the form of a half-yearly overview of the global economy, and points out that the housing market in the ...
by Kay Murchie
It has materialised that an interest rate cut is looking likely after minutes from the Bank of England’s Monetary Policy Committee meeting showed members talked about the option of reducing rates from 5.75% to 5.5% to kick-start the slowing economy following the crisis in the credit markets.
Yesterday the pound was up just 0.08 of a cent at 2.0338 against a weak dollar ...
October 17, 2007
by Elaine Frei
Markets in Europe were higher on Wednesday. The FTSE Eurofirst 300 added 0.49 percent to 1,583.69. In Frankfurt the Dax gained 0.29 percent to 7,985.41, while the Paris CAC-40 was up 0.77 percent to 5,818.8 and the IBEX jumped 0.99 percent to 15,430.5 in Madrid. In London, the FTSE 100 added 0.96 percent to 6,677.7 and the FTSE 250 ...
|
|
A new legislation is being considered by the credit industry which allows you to legally ‘freeze’ your credit history to prevent fraudsters from opening accounts in your name. The system has already been in place for several years in 40 US states.
As the move is protected in US law, the lender must bear any liability if a fraudulent account is ...
European markets were lower Monday as subprime concerns reemerged. The FTSE Eurofirst 300 dropped 1.3 percent to 1,543.56 while Madrid’s IBEX fell by the same percentage to 15,327.8. The Dax fell 1.13 percent to 7,794.94 while the CAC-40 was 1.38 percent lower to 5,661.27. In London, the FTSE 100 fell 1.05 percent to 6,459.3 and the FTSE 250 ...
Most European markets were lower again, with IBEX again the notable exception with a gain of 0.15 percent to 15,529.7. The FTSE Eurofirst 300 dropped 0.56 percent to 1,564.44, while the CAC-40 was down 0.46 percent to 5,740.48 in Paris and the Dax was 0.47 percent lower to 7,884.12 in Frankfurt. London’s markets were also lower again. The FTSE 100 ...
Equities markets in Asia and the Pacific remained mixed once again on Thursday. The Sensex dropped 3.83 percent to 17,998.39 at the close. Elsewhere, the Shanghai Composite was 3.5 percent lower to 5,825.28, and the Straits Times index was down 0.78 percent to 3,809.69 in Singapore. Among gainers on the session, the Hang Seng index added 0.57 percent to ...
Markets in Europe were higher on Wednesday. The FTSE Eurofirst 300 added 0.49 percent to 1,583.69. In Frankfurt the Dax gained 0.29 percent to 7,985.41, while the Paris CAC-40 was up 0.77 percent to 5,818.8 and the IBEX jumped 0.99 percent to 15,430.5 in Madrid. In London, the FTSE 100 added 0.96 percent to 6,677.7 and the FTSE 250 ...