News
News Archive
October 2008
In our news section, you can find online news articles relating to UK & world finance and economy. This is a free to use resource and if you can't find the information you're looking for, why not try the search option at the bottom of the page.UK faces 'redundancy torrent' as firms cut costs - 31/10/08
Some 24 per cent of companies have plans to make new or further redundancies in the next twelve months with older workers taking the brunt of job cuts
Some 24 per cent of companies have plans to make new or further redundancies in the next twelve months with older workers taking the brunt of job cuts
Government moves to reinforce small business - 30/10/08
The government is taking steps to provide banks with £4 billion to lend to small businesses
The government is taking steps to provide banks with £4 billion to lend to small businesses
Interest rates must drop 'quickly' - 30/10/08
More interest rate cuts are needed to stop the UK falling into a depression, a Bank of England rate setter has warned
More interest rate cuts are needed to stop the UK falling into a depression, a Bank of England rate setter has warned
UK workers 'stressed about debt worries' - 29/10/08
Many Britons are stressed at work because of worries about debt, a survey has suggested
Many Britons are stressed at work because of worries about debt, a survey has suggested
FTSE 100 up 5% at lunch - 29/10/08
The FTSE 100 was up over five per cent at lunch today – as confidence returned to the markets ahead of another round of global interest rate cuts
The FTSE 100 was up over five per cent at lunch today – as confidence returned to the markets ahead of another round of global interest rate cuts
Hedge funds hit for £12bn on bad VW bets - 29/10/08
Hedge funds could face billions of pounds of losses after bets on the falling price of Volkswagen turned against them
Hedge funds could face billions of pounds of losses after bets on the falling price of Volkswagen turned against them
Tracker mortgage rates break off the rails - 29/10/08
Average tracker mortgage deals are stuck at 2007 levels, despite the Bank of England's interest rate cut this month
Average tracker mortgage deals are stuck at 2007 levels, despite the Bank of England's interest rate cut this month
Bank of England: Crunch losses to hit £1.8 trillion - 28/10/08
The Bank of England estimates the global banking crisis will create losses of £1
The Bank of England estimates the global banking crisis will create losses of £1
9/11 'the root' of the financial crisis - 28/10/08
The roots of the global financial crisis lie in the September 11th 2001 terrorist attacks and the US reaction to rebuilding the nation, it has been claimed
The roots of the global financial crisis lie in the September 11th 2001 terrorist attacks and the US reaction to rebuilding the nation, it has been claimed
Britons set to fall into negative equity - 28/10/08
Falling house prices are set to put more Britons who are struggling with debt problems at risk of repossession, the Bank of England (BoE) has indicated
Falling house prices are set to put more Britons who are struggling with debt problems at risk of repossession, the Bank of England (BoE) has indicated
Coordinated action fails to stabilise markets - 27/10/08
World markets tumbled on Monday as central and international efforts to stabilise the global economy were thwarted once again
World markets tumbled on Monday as central and international efforts to stabilise the global economy were thwarted once again
Borrowers in debt 'must face up to problem' - 27/10/08
Britons who are struggling with debt must face up to their problems as soon as possible, according to debt management advice published this weekend
Britons who are struggling with debt must face up to their problems as soon as possible, according to debt management advice published this weekend
FTSE falls sharply on recession fears - 27/10/08
The FTSE 100 plunged five per cent after opening on overnight falls in the Asian markets and fears of a worldwide recession
The FTSE 100 plunged five per cent after opening on overnight falls in the Asian markets and fears of a worldwide recession
Six Irish institutions in favour of bank guarantee - 25/10/08
Six Irish institutions have signed up to a government plan to guarantee their operations
Six Irish institutions have signed up to a government plan to guarantee their operations
Recession looms as UK GDP falls - 24/10/08
The UK economy has suffered its first negative quarter of growth for over 16 years, bringing it closer to recession
The UK economy has suffered its first negative quarter of growth for over 16 years, bringing it closer to recession
'Brits earning nothing from their monthly salary' - 24/10/08
One in seven Britons have no spare income once household expenses are deducted from their monthly salary, new figures have shown
One in seven Britons have no spare income once household expenses are deducted from their monthly salary, new figures have shown
Greenspan: Credit tsunami has blighted global economy - 23/10/08
Alan Greenspan says the US economy is experiencing a "credit tsunami" and warns it will be "many months" before confidence will be restored
Alan Greenspan says the US economy is experiencing a "credit tsunami" and warns it will be "many months" before confidence will be restored
People 'must start fixing their debts' - 23/10/08
Britons who are struggling with high levels of debt and bad credit after the onset of the credit crunch must act now, an expert has warned
Britons who are struggling with high levels of debt and bad credit after the onset of the credit crunch must act now, an expert has warned
FTSE 100 down 2% into lunch - 23/10/08
The FTSE 100 failed to hold onto its position this morning as global falls of the stock markets and poor UK data brought the index down
The FTSE 100 failed to hold onto its position this morning as global falls of the stock markets and poor UK data brought the index down
Mandelson and Darling push banks on lending - 23/10/08
Alistair Darling and Lord Mandelson meet bank chiefs today to push for greater lending to small businesses
Alistair Darling and Lord Mandelson meet bank chiefs today to push for greater lending to small businesses
High street sales growth drops - 23/10/08
The annual retail growth rate has fallen to its lowest level in two-and-a-half years as the High street slowdown continues
The annual retail growth rate has fallen to its lowest level in two-and-a-half years as the High street slowdown continues
FTSE 100 holds steady in recession headwinds - 23/10/08
The FTSE 100 opened with a drop but bounced back to hold its value
The FTSE 100 opened with a drop but bounced back to hold its value
Recession fears push down global markets - 22/10/08
Markets in Europe and the US fell today as further fears of recession grew, after both Gordon Brown and Mervyn King admitted a UK recession was likely
Markets in Europe and the US fell today as further fears of recession grew, after both Gordon Brown and Mervyn King admitted a UK recession was likely
"Large increases" in missed mortgage payments predicted - 22/10/08
More people are set to miss their mortgage repayments in the coming months, an expert has predicted
More people are set to miss their mortgage repayments in the coming months, an expert has predicted
Yorkshire and Barnsley building societies to merge - 22/10/08
Yorkshire Building Society has announced it is to take over its Barnsley counterpart
Yorkshire Building Society has announced it is to take over its Barnsley counterpart
FTSE 100 opens down 2% - 22/10/08
European markets saw falls this morning – with the FTSE 100 falling 2
European markets saw falls this morning – with the FTSE 100 falling 2
Young adults seeing debts mount - 21/10/08
Young adults are accumulating debt and failing to save for the future, a new study has found
Young adults are accumulating debt and failing to save for the future, a new study has found
Debenhams profits fall - 21/10/08
Department store Debenhams has reported a 16 per cent drop in profits as high street spending dwindles
Department store Debenhams has reported a 16 per cent drop in profits as high street spending dwindles
Pru insurance sales up 15% - 21/10/08
Sales at Prudential rose 15 per cent over the last nine months, the insurer revealed today
Sales at Prudential rose 15 per cent over the last nine months, the insurer revealed today
Lloyds TSB staff to receive bonuses - 21/10/08
Staff at Lloyds TSB will continue to receive bonuses despite the bank's part-nationalisation by the government
Staff at Lloyds TSB will continue to receive bonuses despite the bank's part-nationalisation by the government
FTSE 100 holds steady - 21/10/08
The FTSE 100 jumped on opening this morning, before falling and holding steady at its opening price
The FTSE 100 jumped on opening this morning, before falling and holding steady at its opening price
Sexism 'not behind gender pay gap' - 21/10/08
Sexist bosses are not a significant cause in the pay gap between men and women, new research has claimed
Sexist bosses are not a significant cause in the pay gap between men and women, new research has claimed
Mortgage lending falls 42% - 20/10/08
Mortgage lending fell 42 per cent over the last year, as property prices slump and the credit crunch blocks borrowing
Mortgage lending fell 42 per cent over the last year, as property prices slump and the credit crunch blocks borrowing
Recession 'hitting all parts of UK economy' - 20/10/08
The economy has now fallen into recession, affecting all parts of the country, and recovery will only come in 2010
The economy has now fallen into recession, affecting all parts of the country, and recovery will only come in 2010
FTSE 100 up on opening - 20/10/08
The FTSE 100 continued its gains recorded the last hours of Friday and started Monday with a nearly 100 point jump
The FTSE 100 continued its gains recorded the last hours of Friday and started Monday with a nearly 100 point jump
Borrowers 'rejected by lenders' - 17/10/08
Britons looking to take out a loan or a new credit card because they are heavily in debt are unlikely to be successful, a study has revealed
Britons looking to take out a loan or a new credit card because they are heavily in debt are unlikely to be successful, a study has revealed
Cameron declares war on government over economy - 17/10/08
David Cameron has ended a unilateral truce on the global financial crisis with the government, accusing Gordon Brown's policies of 'fundamentally failing'
David Cameron has ended a unilateral truce on the global financial crisis with the government, accusing Gordon Brown's policies of 'fundamentally failing'
Banks step back from meltdown - 17/10/08
Banks are now stepping away from the tipping point as the real risk of global economic meltdown recedes, the head of the City's regulator stated today
Banks are now stepping away from the tipping point as the real risk of global economic meltdown recedes, the head of the City's regulator stated today
FTSE 100 slithers up 4% - 17/10/08
After two days of drops the FTSE 100 started Friday with a jump of over four per cent
After two days of drops the FTSE 100 started Friday with a jump of over four per cent
FTSE 100 slinks to lowest since 2003 - 16/10/08
A global sell-off continued in London today with the FTSE 100 dropping 5
A global sell-off continued in London today with the FTSE 100 dropping 5
Global markets down on recession fears - 16/10/08
Losses seen in London and Europe yesterday continued into New York last night and Asia this morning, as fears of a global recession ground away any optimism on the markets
Losses seen in London and Europe yesterday continued into New York last night and Asia this morning, as fears of a global recession ground away any optimism on the markets
FTSE 100 climbs after falling over 5% - 16/10/08
The FTSE 100 dropped further this morning after yesterday's losses, before staging a comeback
The FTSE 100 dropped further this morning after yesterday's losses, before staging a comeback
13 councils in financial trouble - 15/10/08
Some 13 councils face financial problems as a result of losses from the collapse of Icelandic savings accounts
Some 13 councils face financial problems as a result of losses from the collapse of Icelandic savings accounts
EU leaders meet over bank crisis - 15/10/08
EU leaders are meeting at a crunch summit in Brussels to move forward over the banking crisis
EU leaders are meeting at a crunch summit in Brussels to move forward over the banking crisis
FTSE 100 down 2% - 15/10/08
The FTSE 100 dropped over two per cent this morning, as the optimism of the last two days started to ebb
The FTSE 100 dropped over two per cent this morning, as the optimism of the last two days started to ebb
Councils demand Iceland bank inquiry - 14/10/08
Local authorities across Britain are calling for a government inquiry into why credit rating agencies gave Icelandic banks high ratings
Local authorities across Britain are calling for a government inquiry into why credit rating agencies gave Icelandic banks high ratings
Round one of banking crisis: Darling's bailout plan - 14/10/08
The UK and US bailout plans – followed by those throughout the world – should only be considered as round one of the fight against the crisis
The UK and US bailout plans – followed by those throughout the world – should only be considered as round one of the fight against the crisis
Women fail to save for pensions - 14/10/08
Women are saving more for pensions, but still falling short as motherhood gets in the way of preparing for retirement
Women are saving more for pensions, but still falling short as motherhood gets in the way of preparing for retirement
Germany, France unveil banking rescue scheme - 13/10/08
Germany and France have unveiled their own multi-billion banking rescue package along the same lines as the UK bailout
Germany and France have unveiled their own multi-billion banking rescue package along the same lines as the UK bailout
US takes up Brown bank rescue plan - 13/10/08
The US is to follow the UK's bail out plan by buying shares in banks and other financial institutions
The US is to follow the UK's bail out plan by buying shares in banks and other financial institutions
Bank chiefs told to put a halt on bonuses - 13/10/08
Chief executives of UK banks have been warned to put their bonuses in order
Chief executives of UK banks have been warned to put their bonuses in order
Britons 'clueless' over pensions - 13/10/08
Britons are so focussed on what little cash they currently have in their wallets that they are clueless when it comes to saving for retirement, it has been suggested
Britons are so focussed on what little cash they currently have in their wallets that they are clueless when it comes to saving for retirement, it has been suggested
Government nationalises banks for £37 billion - 13/10/08
The government is to invest £37 billion in Royal Bank of Scotland (RBS), HBOS and Lloyds TSB in an unprecedented move
The government is to invest £37 billion in Royal Bank of Scotland (RBS), HBOS and Lloyds TSB in an unprecedented move
Brown: We are the rock of stability - 13/10/08
The government's £37 billion investment in Royal Bank of Scotland (RBS), Lloyds TSB and HBOS is "unprecedented but essential", Gordon Brown said this morning
The government's £37 billion investment in Royal Bank of Scotland (RBS), Lloyds TSB and HBOS is "unprecedented but essential", Gordon Brown said this morning
Taxpayers 'will be rewarded for bank investment' - 13/10/08
Alistair Darling has warned banks there are strings attached to the £37 billion bailout of Royal Bank of Scotland (RBS), HBOS and Lloyds TSB
Alistair Darling has warned banks there are strings attached to the £37 billion bailout of Royal Bank of Scotland (RBS), HBOS and Lloyds TSB
RBS chief executive steps down - 13/10/08
The chief executive of Royal Bank of Scotland is stepping down as the bank announced it will raise £20 billion of new capital as part of the government's bailout package
The chief executive of Royal Bank of Scotland is stepping down as the bank announced it will raise £20 billion of new capital as part of the government's bailout package
Treasury team fly to Iceland - 10/10/08
A Treasury delegation has landed in Iceland – with the aim of retrieving the £20 billion of assets held by UK savers, councils, charities and businesses
A Treasury delegation has landed in Iceland – with the aim of retrieving the £20 billion of assets held by UK savers, councils, charities and businesses
Darling and Brown: World will never be the same again - 10/10/08
Alistair Darling has warned international finance will never be the same again, while Gordon Brown has called on every bank in the world to increase its capital ratio
Alistair Darling has warned international finance will never be the same again, while Gordon Brown has called on every bank in the world to increase its capital ratio
Debt help demand rises - 10/10/08
Demand for help with mortgage arrears and energy bills is growing, Citizens Advice reports
Demand for help with mortgage arrears and energy bills is growing, Citizens Advice reports
Iceland PM: Crisis will be painful - 09/10/08
The prime minister of Iceland has warned the country's banking crisis will be painful
The prime minister of Iceland has warned the country's banking crisis will be painful
Darling flies to America - 09/10/08
Alistair Darling has flown to America to meet with finance chiefs to help broker a international move on tackling the global credit crisis
Alistair Darling has flown to America to meet with finance chiefs to help broker a international move on tackling the global credit crisis
Baby boomers become boring pensioners - 09/10/08
The youth of the 1960s are now heading to conventional retirement
The youth of the 1960s are now heading to conventional retirement
Bailout 'should save mortgage market' - 09/10/08
The government's £500 billion bailout package should help the mortgage market recover stability
The government's £500 billion bailout package should help the mortgage market recover stability
Shock rate cut follows £50 billion bank bailout - 08/10/08
The Bank of England has cut interest rates by half a per cent to 4
The Bank of England has cut interest rates by half a per cent to 4
Fresh recession warning for UK - 08/10/08
The UK fell into recession in May, according to new GDP estimates
The UK fell into recession in May, according to new GDP estimates
Sub-prime borrowers attempt to improve credit rating - 08/10/08
Debt-hit Britons are attempting to improve their battered credit records, a new study has shown
Debt-hit Britons are attempting to improve their battered credit records, a new study has shown
Darling props up banks with £50bn - 08/10/08
The government is to pump £50 billion into UK banks in a bid to stop the banking crisis and guarantee interbank lending
The government is to pump £50 billion into UK banks in a bid to stop the banking crisis and guarantee interbank lending
Government to part nationalise banking system - 07/10/08
The government is to announce a plan to inject £50 billion into individual banks, effectively part-nationalising the UK banking system
The government is to announce a plan to inject £50 billion into individual banks, effectively part-nationalising the UK banking system
Icesave expected to fail - 07/10/08
The Financial Services Authority (FSA) has reported Icesave is now expected to go into insolvency in Iceland, triggering compensation claims from 300,000 British savers
The Financial Services Authority (FSA) has reported Icesave is now expected to go into insolvency in Iceland, triggering compensation claims from 300,000 British savers
Recession: It's already here - 07/10/08
A UK recession has started already and the outlook is getting worse as confidence "collapses", according to research from the British Chambers of Commerce (BCC) for the third quarter
A UK recession has started already and the outlook is getting worse as confidence "collapses", according to research from the British Chambers of Commerce (BCC) for the third quarter
Icesave faces online run as Icelandic owner is nationalised - 07/10/08
Icesave is stopping savers withdrawing cash as the firm is nationalised
Icesave is stopping savers withdrawing cash as the firm is nationalised
Pope: Money is nothing - 07/10/08
Pope Benedict XVI yesterday weighed into the financial crisis hitting the world, claiming it showed the futility of money
Pope Benedict XVI yesterday weighed into the financial crisis hitting the world, claiming it showed the futility of money
UK £50 billion bank bailout plan - 07/10/08
The UK government is being pushed to invest £45 billion in the banking sector to shore up confidence, it emerged last night
The UK government is being pushed to invest £45 billion in the banking sector to shore up confidence, it emerged last night
One in three graduates earns under £15K - 07/10/08
A third of graduates who started university after 1998 are not paying back their student loans yet
A third of graduates who started university after 1998 are not paying back their student loans yet
Hirst sale points to peak of art market - 07/10/08
Damian Hirst's recent £111 million sale of works will mark the peak of the arts market, according to new analysis
Damian Hirst's recent £111 million sale of works will mark the peak of the arts market, according to new analysis
FTSE in 'Black Monday' slide as market turmoil spreads - 06/10/08
The FTSE 100 has joined markets across the world by recording its biggest one day fall since "Black Monday" 21 years ago
The FTSE 100 has joined markets across the world by recording its biggest one day fall since "Black Monday" 21 years ago
Loan repayment rates hiked by up to 9% - 06/10/08
Lenders have hiked rates on personal loans by as much as nine per cent in the last 28 days, as debt pressure continues to pile up on cash-strapped borrowers
Lenders have hiked rates on personal loans by as much as nine per cent in the last 28 days, as debt pressure continues to pile up on cash-strapped borrowers
FTSE 100 falls to four-year low - 06/10/08
The FTSE 100 continued its dramatic slide by lunchtime and was 5
The FTSE 100 continued its dramatic slide by lunchtime and was 5
Energy market 'failing' - 06/10/08
UK energy giants have been warned to sort out problems in the gas and electricity markets or face a competition investigation
UK energy giants have been warned to sort out problems in the gas and electricity markets or face a competition investigation
Government set to miss new home building targets - 06/10/08
Less than 100,000 new homes will be built next year, half the amount needed to meet government targets
Less than 100,000 new homes will be built next year, half the amount needed to meet government targets
FSA ups saver protection to £50K - 03/10/08
Savers will now have the first £50,000 of deposits protected if their bank goes bust
Savers will now have the first £50,000 of deposits protected if their bank goes bust
Water bills to rise - 03/10/08
Regulator Ofwat said water bills are set to increase by an average of £29 before inflation between 2010 and 2015
Regulator Ofwat said water bills are set to increase by an average of £29 before inflation between 2010 and 2015
Northern Rock shuts doors to new savers - 02/10/08
Northern Rock has been forced to close some savings account offers as it experiences the opposite of a run, with customers flooding the bank with deposits
Northern Rock has been forced to close some savings account offers as it experiences the opposite of a run, with customers flooding the bank with deposits
Retirees 'still paying off debt' - 02/10/08
Nearly one quarter (24 per cent) of pensioners use lump sum retirement funds to help with their debt management, according to Scottish Widows
Nearly one quarter (24 per cent) of pensioners use lump sum retirement funds to help with their debt management, according to Scottish Widows
uSwitch: few to escape energy worries - 02/10/08
Few households will be "unscathed" and some may even need debt advice when the last energy supplier finally raises its prices, according to price comparison website uSwitch
Few households will be "unscathed" and some may even need debt advice when the last energy supplier finally raises its prices, according to price comparison website uSwitch
Investment clients given chance to compensate debt - 02/10/08
Consumers may be able to recoup some of their debt by claiming up to £48,000 if they have lost money through investment firms that have defaulted, it has been revealed
Consumers may be able to recoup some of their debt by claiming up to £48,000 if they have lost money through investment firms that have defaulted, it has been revealed
'Bad credit loans' attached to PPI - 02/10/08
More than one million Britons are making a mistake with their credit card applications that could push them further into debt, according to a consumer watchdog report
More than one million Britons are making a mistake with their credit card applications that could push them further into debt, according to a consumer watchdog report
Higher motoring costs pile pressure on debt-hit Brits - 02/10/08
The soaring cost of motoring is adding to debt pressure on British households, new figures from the RAC have shown
The soaring cost of motoring is adding to debt pressure on British households, new figures from the RAC have shown
Fuel poverty up 1m - 02/10/08
One million more households fell into fuel poverty in 2006 than 2005 – data released today show
One million more households fell into fuel poverty in 2006 than 2005 – data released today show
Students turn to parents to ease debt worries - 02/10/08
Debt-hit students are being forced to ask their parents for money to help them through university, it has been revealed
Debt-hit students are being forced to ask their parents for money to help them through university, it has been revealed
France 'proposes £237 billion EU bailout package' - 01/10/08
France will push for European leaders to unveil a €300 billion (£237 billion) rescue package for financial institutions at a summit scheduled for this weekend, reports claim
France will push for European leaders to unveil a €300 billion (£237 billion) rescue package for financial institutions at a summit scheduled for this weekend, reports claim
Manufacturing shrinks at record pace - 01/10/08
Manufacturers are facing the worst economic conditions in 17 years as demand fell sharply in September
Manufacturers are facing the worst economic conditions in 17 years as demand fell sharply in September
Senate to vote tonight on bailout package - 01/10/08
Expectation is growing before the US Senate votes tonight on a revised version of the $700 billion (£388 billion) Wall Street bailout package
Expectation is growing before the US Senate votes tonight on a revised version of the $700 billion (£388 billion) Wall Street bailout package
$1 trillion cost of Congress failure - 01/10/08
The failure of Congress to sign a $700 billion rescue package for Wall Street cost Americans on Main Street $1
The failure of Congress to sign a $700 billion rescue package for Wall Street cost Americans on Main Street $1
