News Tag: withdrawal
February 8, 2010
The Indian Government has today announced that the economy is expected to expand 7.2% in the year to the end of March.
The economy is making a strong recovery and expanded at an annual pace of 7.9% in the three months to the end of September, after growing 6.7% in the year to the end of March 2009.
Meanwhile, today’s announcement has raised ...
Indian economy to grow 7.2%
by Kay Murchie
January 18, 2010
The International Monetary Fund (IMF) has today warned that the global recovery “remains very fragile“.
Dominique Strauss-Kahn of the IMF said the global economy has been stronger than expected and China and developing Asian economies are leading the way in the global economic recovery but warned all major economies of an early withdrawal from stimulus packages.
He said stimulus measures have led to a ...
IMF: Asia leads global recovery
by Kay Murchie
July 22, 2009
In a further reshaping of the UK mortgage market, the maximum length of a fixed-rate deal is down to 15 years, following Manchester Building Society's withdrawal its 30-year fix.
Prior to the credit crisis, the Government was proposing to help lenders offer more affordable long-term fixed-rate products, which at the time were common in the US, Germany and Denmark.
Lenders were sceptical and pointed out that ...
Long-term fixed-rates disappear
by Gill Montia
April 30, 2009
The UK’s largest engineering company, BAE Systems, is to shut three factories in Telford, Leeds and Guildford by Christmas and is to axe 500 jobs.
The announcement is primarily due to the withdrawal of British troops from Iraq and the axe will be wielded in the combat vehicles and weapons division. Today’s announcement follows the 200 job losses confirmed in ...
BAE Systems announce factory closures and job losses
by Kay Murchie
December 12, 2008
New research from Durham University shows the extent to which some UK homeowners are exposed to the credit crisis because their lifestyles have been funded by withdrawing equity from property.
The study, which examined the borrowing patterns of over 8,000 households between 2001 and 2005, revealed that in any year around 40% of homeowners increased their mortgage borrowing, despite having not ...
Mortgage equity withdrawal kept families afloat
by Gill Montia
October 3, 2008
Homeowning Britons have stopped using their properties as banks, according to figures from the Bank of England.
For the first time since 1998, consumers have become more focused on paying off their mortgages rather than remortgaging to fund their lifestyles, or consolidate debts.
In the three months to the end of June, the UK's mortgage borrowers increased the amount of equity held in ...
Britons stop using houses as banks
by Gill Montia
