News Tag: support
February 19, 2010
Despite calls from leading business groups to take urgent action with regard to spending cuts, Chancellor Alistair Darling, has received support to delay cuts until 2011.
According to David Kern at the British Chambers of Commerce, the UK’s credit rating is being put at risk by the Government’s failure to act more quickly.
However, over 60 senior economists have signed two open ...
Senior economists support delay in spending cuts
by Kay Murchie
February 12, 2010
The International Monetary Fund (IMF) has today pledged its support for Greece after yesterday’s declaration from the European Union, which will see the debt-stricken economy tackle its spiralling debts.
“We stand willing and able to support Greece in ways that the Greek authorities think is appropriate," IMF First Deputy Managing Director John Lipsky told reporters on the sidelines of an international ...
IMF lends its support for Greece
by Kay Murchie
February 11, 2010
After the summit meeting in Brussels today, EU leaders have agreed to work with Greece to tackle its spiralling debts.
Last week, the Greek Government announced tough austerity measures to tackle the country’s spiralling debt.
The country’s runaway budget deficit is currently more than four times the EU limit of 3%. It currently has the highest debt of the 16-member ...
EU agrees to work with Greece over debts
by Kay Murchie
February 3, 2010
The European Commission has met today to discuss Greece’s tough austerity measures which will see the weakest economy of the euro zone tackle its spiralling debt.
The Commission confirmed it will support the country’s plans which include a public sector pay freeze and a hike in fuel taxes.
However, the European Commission will closely monitor progress and has demanded an interim report by ...
European Commission confirms support for Greece
by Kay Murchie
Greece unveils measures to cut soaring debt
by Kay Murchie
January 29, 2010
Fifty-six-year old Ben Bernanke has won a second term as chairman of US central bank, the Federal Reserve.
The US Senate confirmed the appointment after it voted 77-23 in favour of Bernanke, whose current term ends on Sunday.
At the time of his nomination last August, US President Barack Obama said: “Mr Bernanke had helped prevent a repeat of the Great Depression.”
Last weekend, Mr ...
Bernanke wins second term
by Kay Murchie
January 25, 2010
The Equality and Human Rights Commission is supporting plans to let the over 65s continue working.
Earlier this month, minister for Women and Equality, Harriet Harman, announced a major shake-up in the retirement law which will see workers no longer forced to retire at 65.
Miss Harman believes a radical change in the law is needed in order to smash the notion that ...
Calls for over-65s to keep working
by Kay Murchie
January 22, 2010
Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a severe fall UK car production.
Car output fell 47.5% in December compared with a year earlier, with 53,823 cars produced.
For the 2009 year as a whole, 1,446,619 cars were produced - a fall of 5.7% on the previous year.
The poor year-end figures from the SMMT has ...
UK car production falls 47.5% on year
by Kay Murchie
November 10, 2009
Over the weekend, G20 finance ministers at St Andrews in Fife reached an agreement to maintain financial support until recovery is ensured.
The agreement was reached following concerns over rising unemployment and unsteady growth which saw finance ministers from developing and rich countries vow to keep fiscal measures in place until global recovery is assured.
The International Monetary Fund (IMF) also believes that ...
G20 agreement sees shares rise
by Kay Murchie
October 26, 2009
Lone-parent campaign group Gingerbread has said new rules mean unemployed single parents are facing severe pressure to return to work by the Government.
According to the charity, new regulations means almost 70,000 single parents with a child aged 10 to 16 will now receive jobseekers' allowance instead of income support.
Currently, single parents aged over 18 whose youngest child is aged ...
Unemployed lone parents not receiving support, says charity
by Kay Murchie
August 27, 2009
The chairman of the Financial Services Authority is supporting a new tax on banks, aimed at curbing the bonus culture in the City.
In an interview with Prospect magazine, Lord Turner attacked the industry and said some of the City's activities had "swollen beyond its socially useful size" and was happy to consider taxing it.
Lord Turner comments: "If you want to ...
FSA chief supports tax to curb bonuses
by Kay Murchie
June 8, 2009
87% of new shares offered by Lloyds Banking Group have been bought by the bank’s shareholders.
Strong support was expected since the shares were offered at 38.43p - heavily discounted from last Thursday’s closing price of 67.1p.
Lloyds announced the cash call in order to replace the £4 billion of preference shares held by the Government in the bank for equity. ...
Lloyds shareholders respond strongly to cash call
by Kay Murchie
January 20, 2009
Banking giant HSBC has rejected the Government's offer of emergency funding.
The UK's largest banking group said it had not sought capital support from the UK Government and cannot envisage circumstances where such action would be necessary.
Unlike other banks, HSBC has been relatively unaffected by the credit crisis due to its focus on emerging markets business. With nearly 10,000 office in ...
HSBC turns down financial support from Government
by Kay Murchie
November 6, 2008
The Council of Mortgage Lenders (CML) has reported that almost 50% first-time buyers under the age of 30 look for family help to secure their first mortgage.
Financial help from relatives has always played a part in a fortunate minority getting a foot on the property ladder but the need has been increasing; in 2006, only 38% of first-time ...
First-time buyers increasingly rely on family financial support
by Gill Montia
September 16, 2008
Price comparison website, Moneysupermarket.com, has reported that over 50% of the first-time buyers that approach mortgage lenders using its site are receiving financial support from parents.
Those attempting to get a foot on the property ladder have been particularly hard hit by borrowers raising deposit requirements and according to research from Moneysupermarket, parents are providing help with initial costs, such as deposits, ...
First-time buyers rely on parental support
by Gill Montia
