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06th of September 2010
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News Tag: funding

July 1, 2010

Government withdraws investment for UK car industry

by Kay Murchie
”Government
Business Secretary Vince Cable has warned that the UK’s car industry will not receive any further funding from the Government. Mr Cable was speaking at a conference in London organised by trade body, the Society of Motor Manufacturers and Traders (SMMT). However, he said the industry is "incredibly important to the UK economy" and insisted that "we're not walking away from the ...



June 29, 2010

European shares down on banking concerns

by Kay Murchie
European shares down on banking concerns
There are fresh concerns over the European banking sector after banks are scheduled to repay €442 billion (£362 billion) worth of loans to the European Central Bank (ECB) later this week. Shares in Europe hit a three-week closing low today as a result. Furthermore, shares were hit by a sharp fall in US consumer confidence and a fall in Japanese industrial ...



May 26, 2010

Little evidence of ‘spring bounce’ say BBA

by Kay Murchie
Little evidence of ‘spring bounce’ say BBA
The British Bankers’ Association (BBA) has today revealed a marginal rise in the number of new mortgages approved by the major banks in April. According to the BBA, mortgage approvals for the month stood at 35,729 - up by just 685 on March. The BBA said there is little evidence of the traditional "spring bounce" with net mortgage lending by ...



May 5, 2010

Call Britannia secures £500,000 funding

by David Masters
Call Britannia secures £500,000 funding
Call Britannia has secured £500,000 of investment to help it create 10,000 new jobs for long-term unemployed people across Britain. The funding was secured from specialist investment firm Bridges Ventures, which uses its funds to meet social and environmental goals. The new jobs will be created in ten new outsourced customer call centres in economically disadvantaged areas across the UK. Call Britannia guarantees new employees ...



April 27, 2010

Social enterprises struggle to raise capital

by David Masters
Social enterprises struggle to raise capital
Social enterprises are underfunded because they lack access to capital, according to a new report launched this week in Australia. The Financing Social Enterprise report, researched by Foresters Community Finance, said social enterprises are often unable to access finance from mainstream lending institutions. "The greatest challenge for emerging social businesses is their lack of access to capital for growth and development," said Ingrid ...



April 19, 2010

Gross mortgage lending remains on track

by Gill Montia
”Gross
Gross mortgage lending leapt to £11.5 billion in March, a 24% rise on February and up 3% on a year earlier, according to the Council of Mortgage Lenders (CML). However, the figure is in line with the usual seasonal trend and gross lending for the first three months of the year stood at £29.5 billion, or 24% less than in the ...




March 11, 2010

O2 sets aside £5m for community projects

by David Masters
O2 sets aside £5m for community projects
Mobile phone operator O2 this week announced a £5 million project offering cash-in-hand grants to young people who plan to make a difference in their local communities. The three year programme, Think Big, will allow 13-25 year olds to apply for a £300 grant to fund projects designed to address local problems as identified by young people. Successful project will be eligible ...



December 16, 2009

Watford FC on the brink of administration

by Kay Murchie
”Watford
Shares in Watford Football Club have been suspended after its parent company, Watford Leisure, warned it may enter administration. The Club, nicknamed The Hornets, is currently 10th with 30 points in the 24-team Coca-Cola Championship. Watford Leisure recently announced it would run out of cash before Christmas if it did not secure further funding and has been asked to pay back £4.9 ...



December 7, 2009

JAL shares up on Government funding rumours

by Kay Murchie
”JAL
Struggling Japan Airlines (JAL) saw it shares soar 7% to 107 yen today after speculation that the Japanese Government is looking to guarantee about 700 billion yen ($7.8 billion; £4.7 billion) in loans to the debt-laden airline. Since 2001, JAL, which is Asia’s largest carrier, has been bailed out four times by the Government. The airline has been struggling amid the global ...



October 14, 2009

US retail sales fall as scrappage scheme ends

by Kay Murchie
US retail sales fall as scrappage scheme ends
The Commerce Department today revealed a fall in US retail sales for the month of September as the US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme ended. According to the organisation, retail sales in the world’s largest economy fell 1.5% on the month - the largest amount in 2009 to date. The news comes after a ...



September 28, 2009

Mandelson to announce extension of scrappage scheme

by Kay Murchie
”Mandelson
It has been reported that Business Secretary Lord Peter Mandelson will today announce that the car scrappage scheme, branded ‘Cash for Bangers’ will be extended. The scheme, which was launched on 18 May to boost the ailing car industry, pays consumers £2,000 to get rid of their old cars and replace it with a more environmentally friendly car. The £300 million initiative ...



September 24, 2009

Struggling Japan Airlines seeks Government funding

by Kay Murchie
”Struggling
Struggling Japan Airlines (JAL) has confirmed it has asked the Government for public funds to strengthen its capital base and save it from collapse. The news comes just a week after the loss-making carrier announced plans to cut its operating schedule and reduce headcount by almost 7,000. JAL president, Haruka Nishimatsu, said he is also proposing a major restructure after meeting with ...



September 4, 2009

Scrappage scheme continues to be a success

by Kay Murchie
”Scrappage
The Society of Motor Manufacturers and Traders (SMMT) has today revealed a further rise in car sales as a result of the Government’s car scrappage scheme. The scheme, which was launched on 18 May to boost the ailing car industry, pays consumers £2,000 to get rid of their old cars and replace it with a more environmentally friendly car. According to ...



August 10, 2009

Scrappage scheme reaches halfway mark

by Kay Murchie
”Scrappage
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 cash‘ was launched on 18 May and pays ...



August 7, 2009

US scrappage scheme receives further $2bn

by Kay Murchie
”US
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 recession by boosting new car sales. Car ...



July 27, 2009

Hardship Fund helps recession-hit charities

by David Masters
Hardship Fund helps recession-hit charities
The government has launched a new fund to help struggling voluntary organisations through the recession. Any UK charity that offers services to vulnerable and disadvantaged people can now apply for a grant of up to £250,000 from the £16.7 million Hardship Fund. Organisations applying for a grant must be suffering financial difficulties that impact their ability to provide housing support, health care, social care, ...



Government to kickstart mothballed housing projects

by Gill Montia
”Government
The Government has announced a £925 million initiative that could allow work to recommence on 270 stalled development projects across England. According to Housing Minister, John Healey, the scheme could get building work on 22,400 homes back on track and create 20,000 jobs. Every region already has projects shortlisted under the Kickstart programme, which forms part of Prime Minister Gordon Brown's "Housing ...



July 26, 2009

Extra funds to tackle car theft

by David Masters
”Extra
The police unit responsible for fighting car crime has been awarded a £300,000 grant from the Home Office. The Association of Chief Police Officers’ Vehicle Crime Intelligence Service (AVCIS) will use the grant to identify trends in vehicle break-ins. The funds will also be used to work out the best ways of recovering stolen vehicles. Acting Detective Chief Inspector Mark ...



July 1, 2009

Government allocates £1bn for new businesses

by David Masters
Government allocates £1bn for new businesses
The government has announced plans to set up a venture capital fund to be worth an estimated £1 billion over the next ten years. The Department for Business, Innovation and Skills said the money will be targeted at small businesses and start-ups in the technology sector. Priority will be given to companies with high growth potential and a focus on the digital ...



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