News Tag: credit crunch
December 2, 2009
The German Government has named Joachim Metternich as the country’s new credit mediator in a bid to boost business lending.
Mr Metternich, who currently heads up the public investment bank for the western German state of Rhineland-Palatinate, will take up his role in March 2010.
The appointment comes after Germany's Economy Minister, Rainer Bruederle, and German ...
Credit mediator to be appointed in Germany to prevent another credit crunch
by Kay Murchie
November 5, 2009
Investment in ethical funds has recovered to pre-credit crunch levels, new research has discovered.
During the third quarter, investments in ethical funds reached more than double the total of ethical investments in the same period last year.
Net sales of ethical funds between July and September were £59 million, compared to £21 million in the same three month period for 2008.
The statistics were ...
Ethical investments return to pre-crunch levels
by David Masters
October 30, 2009
The financial crisis has not changed the attitude of investors towards green and ethical investments, new research has discovered.
In a poll of financial advisers just 18% said the economic downturns has impacted on the attitude of clients towards green and ethical investment.
This is compared to 85% of advisers who said the crisis has impacted on client attitudes towards traditional investments.
The UK ...
Investors keep their principles during recession
by David Masters
October 27, 2009
One in three Brits are saving money by going out less often and socialising at home.
In a poll by Friends Provident, 35% of respondents said they have been going out less frequently since the recession began.
One in five (22%) have become 'social-nesters', bringing their nights out into their own living room.
A third (34%) of those polled said they are going ...
Credit crunched Brits choose cosy nights in
by David Masters
October 24, 2009
Reports that mortgage lending increased during September are a "very positive sign" for the UK housing market, an industry expert has claimed.
Stuart Law, chief executive of property investment firm Assetz, made the remarks after the Council of Mortgage Lenders (CML) reported a 2% rise in mortgage lending during September.
Law said he is optimistic about the future of the ...
Is the rise in mortgage lending a positive sign?
by David Masters
October 17, 2009
Potentially successful businesses are being forced into bankruptcy because they can't get access to credit, an industry expert has claimed.
Commenting on research by UHY Hacker Young and Trowers & Hamlins that found a rising number of firms facing financial difficulties, David Molian, lecturer in entrepreneurship at the Cranfield School of Management, said restrictions on lending were to blame.
"I think those businesses ...
Ongoing credit crunch forces unnecessary bankruptcies
by David Masters
Consumers fuming at banks for financial crisis
by David Masters
October 13, 2009
The Royal Institution of Chartered Surveyors (Rics) has discovered that a lack of homes up for sale has resulted in the strongest rise in house prices since the start of the credit crunch.
According to Rics, its headline house price balance has grown to its highest level since the autumn 2007. It said that almost one quarter (22%) more surveyors thought prices ...
Shortage of homes pushing up prices
by Kay Murchie
September 16, 2009
Many UK adults have had their social lives "hit hard" by the credit crunch, moneysupermarket.com claimed this week.
Two-thirds (65%) of those polled by the price comparison site said they're more likely to stay in since the recession started.
Eleven percent said they're holding more house parties such as barbecues and 'Come Dine With Me' style dinners, spending an average of £22 per ...
Social lives “hit hard” by recession
by David Masters
September 15, 2009
The stranglehold of debt on UK consumers is likely to continue for a "long time", an industry expert has claimed.
Chris Tapp, director of Credit Action, said the financial crisis has left a rising number of people struggling to keep up with loan and credit card repayments.
Increasing unemployment has become "a real source of debt problems because it impacts on people's income so ...
Stranglehold of debt to continue
by David Masters
September 11, 2009
Dutch banks have signed up to a new code of conduct limiting executive bonuses to 100% of salary.
Once the code comes into force, bankers' salaries will have to be below the median for similar jobs, bonuses will have to be returned if a bank enters financial difficulty, and redundancy payments will be limited to one year's salary.
All banks in the Netherlands Bankers ...
Dutch banks cap executive salaries
by David Masters
Barclaycard launches pre-application credit check
by David Masters
August 17, 2009
One in sixteen Brits are better off because of the recession, according to new research by Yorkshire Bank.
In the north-east, more than one in five (21%) are financially stronger compared with before the recession.
Lower interest rates have put more money into the pockets of mortgage payers, while decreased VAT has generated extra bargains on the high street.
Many mortgage holders are ...
One in sixteen better off from recession
by David Masters
Credit crunched Brits cutback holiday budget
by David Masters
August 13, 2009
High street banks are still more popular with consumers than non-bank brands offering financial products despite the banking crisis, new research has discovered.
Nearly two-thirds (65%) of consumers polled in a Marketing Week commissioned study said they wouldn't consider a financial product, such as a bank account, personal loan, or credit card, from outside the traditional banking sector.
Tesco Personal Finance proved the ...
Banks more popular than supermarket finance
by David Masters
July 21, 2009
In its latest "Trends in Lending" report, the Bank of England said the flow of credit to British businesses fell to £3.4 billion in May and followed a drop of £6 billion the previous month.
During 2007, the normal levels of lending were £7 billion per month and £4 billion in 2008 - when the credit crunch was well and ...
Lending to businesses falls for second consecutive month
by Kay Murchie
July 17, 2009
People in the UK are visiting friends and family less frequently because of the recession.
One in four Brits are socialising less since the credit crunch because they've curbed their spending habits, a poll by Turn2us has discovered.
A similar number, 28%, believe they will be financially worse off by the end of the year.
Turn2us fears the downturn in socialising could lead to ...
Social isolation may deepen with recession
by David Masters
July 2, 2009
Britain's mountain of debt continues to grow, with the average adult now owing 132% of their typical earnings.
Collectively, UK consumers owe £1.459 trillion, Credit Action revealed this week, equivalent to £30,480 per person.
Personal debt on credit cards, store cards, overdrafts, and unsecured loans is also on the rise, increasing to £4,860 per person during the month of May.
The pace at which ...
Debt mountain grows to £1.46 trillion
by David Masters
June 25, 2009
Governments worldwide must continue to take action on pensions or risk a decades-long global pensions crisis, the Organisation for Economic Co-operation and Development (OECD) warned this week.
The OECD said new economic concerns created by the credit crunch must not deter governments from pursuing pensions reforms.
Dealing with short-term challenges by postponing reforms would prove disastrous in the long-term, the ...
OECD urges governments to stand firm on pensions reform
by David Masters
Employers attempt to save jobs despite recession
by David Masters
