News Tag: Loan News
March 1, 2010
Figures from the Bank of England today revealed that British consumers borrowed £500 million in January through credit cards, loans and overdrafts, once repayments were taken into account - the highest level since November 2008.
According to the Bank, the increase was almost double the £265 million rise seen in the previous month December, and comes after consumers had repaid more than they ...
Consumer borrowing surges in January
by Kay Murchie
February 1, 2010
Figures from the Bank of England today revealed that new borrowing on credit cards, loans and overdrafts rose for the first time since June 2009.
Consumer credit rose £52 million in December, which surprised analysts who had expected a £400 million fall.
For the first time since June, borrowing outstripped the amount being paid back by UK consumers.
This was primarily due to ...
Credit card borrowing soars in December
by Kay Murchie
January 19, 2010
Citigroup, which is the third largest US bank, has today posted a loss for the fourth quarter of 2009, as a result of the repayment of Government loans.
The bank said it repaid $20 billion to the US Government during the 2009 year.
The Wall Street banking giant said losses totalled $7.6 billion (£4.7 billion) for the final three months of last ...
Citigroup reports Q4 loss of $7.6bn
by Kay Murchie
January 15, 2010
A new microfinance bank in Bahrain is set to help thousands of needy families.
The Family Bank, a joint initiative between Bahrain's Social Development Ministry and the Grameen Bank, will offer loans of between 150 and 7,000 Bahrain Dinars (between £250 and £11,500).
"The idea is to make needy and creative Bahraini families self dependent by helping them set up their own ...
Microfinance loans to help needy in Bahrain
by David Masters
January 4, 2010
Shares in troubled Japan Airlines (JAL) soared 31% today after it was revealed that the Japanese Government had asked the state-owned Development Bank of Japan (DBJ) to double JAL’s credit line to JAL to 200 billion yen (£1.4 billion).
The airline has already used 55 billion yen of the 100 billion yen credit line set up by the DBJ.
The extra funding ...
JAL shares recover after Government loans deal
by Kay Murchie
June 15, 2009
Banking giant, Lloyds Banking Group, is expected to take a hit of £450 million as a result of its investment in pub chain Admiral Taverns.
In order to finance a series of acquisitions, the group's Bank of Scotland arm loaned more than £850 million to Admiral but the pub group, which owns more than 2000 pubs, has been hit by ...
Lloyds in £450m write-off on Admiral Taverns loan
by Kay Murchie
May 31, 2009
Many reports over the weekend have speculated that General Motors (GM) is expected to file for Chapter 11 bankruptcy tomorrow.
The century-old car maker, which was once the biggest company in the world, reaches its deadline tomorrow of restructuring the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy protection.
So far, the company ...
General Motors expected to file for Chapter 11
by Kay Murchie
April 28, 2009
There is now a definitive separation between car firms Daimler and Chrysler after the German carmaker has reached a deal to give up its 19.9% stake in the US firm.
The agreement will also see Daimler forgive repayment of the loans extended to Chrysler, which were already written off in the 2008 financial statements, said Daimler.
Once the deal is finalised, "the ...
Daimler redeems 20% stake in Chrysler
by Kay Murchie
April 25, 2009
Deflation has occurred for the first time in the UK since the 1960s and the Retail Prices Index (RPI) figure has been used to track the interest rate payments on student loans.
However there has always been much speculation as to what would happen if the RPI would turn negative and yet last month, this stopped becoming a moot point and ...
Student loans could fall to zero percent
by Peter Charalambous
April 2, 2009
A Bank of England report has revealed that Britain's banks and building societies are set to make more loans available to homeowners and businesses over the next quarter.
The report also revealed that despite the tightening of lending criteria over recent times, credit availability to larger companies actually increased during the first three months of this year.
"The economic outlook ...
BoE report reveals lending is set to increase
by Kay Murchie
March 30, 2009
It has been confirmed this morning that the Nationwide is to buy the Dunfermline Building Society's branches, good loans and deposits.
It was reported over the weekend that Scotland’s largest Building Society had collapsed after last-minute rescue attempts failed.
The institution, which was established in 1869, will see Nationwide take on its 500+ staff and the brand will remain intact.
The deal, which was rushed ...
Dunfermline rescued by Nationwide
by Kay Murchie
December 29, 2008
As a result of steep increases in the cost of energy and food and rising unemployment, the number of people struggling with debts has surged over the last 12 months.
The Government-funded National Debtline said the number of calls increased from around 16,000 a month a year ago to 23,000 in November.
According to Paul Mullins, chief executive of the National Debtline, ...
Surge in demand for debt advice
by Kay Murchie
October 13, 2008
The 15 Eurozone leaders have met in Paris this weekend and agreed on an emergency plan to prevent further financial institutions collapsing.
France and Germany followed the UK by spending billions of euros to guarantee loans in leading banks in a bid to fight off financial meltdown. Banks' reluctancy to lend to each other has been the main problem of the ...
European leaders meet to discuss financial crisis
by Kay Murchie
October 6, 2008
Figures from price comparison website, uSwitch.com, has found that lenders are continuing to increase their cost of personal loans with interest rates surging.
In the last month alone, personal loans from Black Horse, part of the Lloyds TSB group, have increased by up to nine percentage points, to 36.9%, according to uSwitch.
Prior to the hike, a ...
Consumers urged to shop around as personal loan rates surge
by Kay Murchie
