A report has revealed that the majority of small and medium-sized enterprises (SMEs) are successful when applying for credit. According to the study, more than half (59%) of applicants were successful when applying for a loan, while 72% who applied for an overdraft were successful. The figures come from the latest SME Finance Monitor report [...]
Portugal has today raised £1 billion via the sale of bonds, although analysts say this does not mark the end of the country’s problems. Portugal was successful in borrowing €1.25 billion via a bond auction but fears remain that the debt-ridden country may still require an emergency bailout from the EU – something which Prime [...]
Passengers will breathe a sigh of relief this morning after British Airways (BA) was successful in preventing the latest series of strikes by its cabin crew staff. The Unite union had announced that cabin crew would strike for four separate five-day strikes in May and June – the first strike was due to start today. [...]
Berkshire Hathaway, the investment group controlled by respected US billionaire investor Warren Buffett, has revealed its latest investments. Seventy-nine year old Buffett is often referred to as the ‘Oracle of Omaha’ and is one of the most successful investors in history and therefore any investments made by his company are closely monitored. The investment vehicle [...]
According to the Society of Motor Manufacturers and Traders (SMMT), UK car production fell 16% in September compared with the same month last year. However, the SMMT said it was the smallest fall for 12 months and was considerably less than the annual rate of fall of 31.5% reported in August. The SMMT attributed the [...]
Chinese state media has reported that annual car production in China has accelerated and topped the 10 million mark for the first time and is set to overtake the world’s leading economies. Only the US and Japan (the world’s number one and two economies) have produced 10 million cars in a single year. China’s car [...]
Official figures released today show that orders for the scrappage scheme have reached 154,927. £300 million was put aside from the Government, along with the matched funding from manufacturers – enough to fund 300,000 transactions. Consequently, over half of the money within the scheme has been spent. The Government’s car scrappage scheme, branded ‘bangers for [...]
The US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme has received an additional $2 billion (£1.19 billion) – approved by the US Senate, after an initial $1 billion ran out in just 10 days. The “cash for clunkers” scheme has been designed to help bring the US economy out of [...]
A Government scheme to aid families in England under threat of repossession has helped only two households since its launch in January. According to the Department for Communities and Local Government (DCLG), the £285 million package of measures is “designed to prevent some of the most vulnerable families losing their homes and experiencing the trauma [...]
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, [...]
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