Following a week of talks, the $700 billion (£380 billion) bailout plan has finally been approved. The plan had been designed to prevent financial meltdown and was essential to the financial security of every American, according to President George W. Bush. On Friday night, the vote which was nervously watched by Wall Street, saw the [...]
US shares have fallen today after investors are concerned over the US $700 billion (£380 billion) rescue package. Earlier this morning, it was announced that the US Senate voted in favour of a new version of the $700 billion (£380 billion) bailout plan. The revised scheme will now go back to the House of Representatives [...]
Earlier this morning the US Senate voted in favour of a new version of the $700 billion (£380 billion) bailout plan. Senators voted 74 to 25 in favour of the emergency legislation established to prevent further damage to the US financial system. The new approved version includes sweeteners such as tax breaks for families and [...]
Monday night saw the rejection of the $700 billion (£380 billion) Wall Street rescue plan after days of negotiations between the US Government and lawmakers. The plan failed to receive support from Congress who voted against the proposed scheme. Following the news, stocks throughout the world fell sharply. However, stock markets have recovered slightly after [...]
Following a day of bailouts and nationalisations, it was announced late last night that the US $700 billion (£380 billion) bailout was rejected after it failed to gain support from Congress who voted against the proposed scheme. Talks have been taking place over the last few days between the Government and lawmakers and yesterday the [...]
After a weekend of negotiations, America’s $700 billion (£380 billion) bailout plan has finally reached a conclusion. US Treasury Secretary, Henry Paulson, managed to convince Republican and Democratic leaders to agree to a compromise, prior to the opening of the Asian stockmarkets. However, the announcement did little to allay fears in the global stock markets, [...]
According to US Congress, America’s $700 billion (£380 billion) bailout plan is still in negotiations but considerable progress is being made. According to Harry Reid, the Senate majority leader, there are 15 outstanding issues to be resolved in agreeing Treasury secretary Henry Paulson’s Troubled Asset Relief Programme (Tarp). Meanwhile, The White House said the prospect [...]
US billionaire investor, Warren Buffett, has described the current financial turmoil as ‘an economic Pearl Harbour’. Buffett, who is one of the world’s richest men, and US Federal Reserve chief, Ben Bernanke, are urging US Congress to quickly approve the $700 billion (£380 billion) financial rescue plan or risk serious consequences to the US economy. [...]
Shares in London, Europe and Asia have fallen amid doubts over the $700 billion (£378 billion) US Government’s financial rescue plan. While the rescue plan has been welcomed, there are fears about how it will come into effect in practice. In London, the FTSE 100 index lost over 100 points in morning trading to 5,143.05 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
