Be careful what you wish for
29 Jun 2009 [0 Comments | 79 views]
By Pam Atherton The legal battle currently being waged between the Office of Fair Trading and a group of banks over the fairness of penalty charges could end up harming all UK bank customers. If the OFT wins, it could put an end to free in-credit banking and the introduction of restrictive and expensive bank [...]
Bank lending to be constrained for years
26 Jun 2009 [1 Comment | 87 views]
There comes a time when all kids have to leave home, and learn how to stand on their own two feet. If you are a parent, you can cosset them and protect them from the harshness of reality, but by doing this are you really doing them a favour? It is like that with banks, [...]
Is saving better than retail therapy?
26 Jun 2009 [1 Comment | 82 views]
Savings are back, and so is debt. Two reports out yesterday seemed to totally contradict each other. But there is an underlying truth about savings, which will change the economy in quite profound ways for years to come. First, here’s the contradiction. According to unbiased.co.uk: “The so called ‘economic optimism’ has led Brits straight back [...]
Michael Jackson’s death could mean a windfall for the record company
26 Jun 2009 [0 Comments | 80 views]
The sad death of the world’s most famous, not to mention enigmatic, musical artist yesterday is clearly bad news for locations such as the O2 building which was due to host one of Michael Jackson’s live concerts. But one company could rake in the bucks. You may recall, when Freddie Mercury died, Bohemian Rhapsody went straight back [...]
Analysts remain bullish on emerging markets
25 Jun 2009 [0 Comments | 78 views]
By Pam Atherton The 20th anniversary of the Templeton Emerging Markets Investment Trust (Temit) has sparked considerable debate about the long term prospects for emerging market funds. Emerging markets represent around 75 per cent of the world geographically, and over 80 per cent of the world’s population. One in every five people in the world [...]
Forget the bath plugs, its their pensions, stupid!
24 Jun 2009 [0 Comments | 51 views]
By Pamela Atherton As the nation frets about MPs’ expenses, the real free ride our MPs are getting is their pensions. Remarkably little comment has been made about the super generosity of the MPs’ pension scheme, but then bath plugs, duckhouses and moats make for more entertaining copy than desperately dull pensions. We are told [...]
oil
23 Jun 2009 [0 Comments | 91 views]
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FTSE
23 Jun 2009 [0 Comments | 68 views]
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The bears are back in town
23 Jun 2009 [0 Comments | 111 views]
The bears came back yesterday, as markets across the world saw sharp losses.
Why this latest batch of gloom? The World Bank sat partially behind the news. The European Central bank didn’t help. Meanwhile, one strategist forecast another major sell off on stocks, with equities falling to the March low.
Why the global change in heart? And are equities really set to slide all the way down again?
Mortage arrears, landlords rearing – tenants too
23 Jun 2009 [0 Comments | 89 views]
It was all go on the housing market yesterday, with a raft of reports and forecasts.
The Royal Institution of Chartered Surveyors released its latest survey into the letting market. It seems rents are still falling, but a fascinating development has emerged.
Meanwhile, the FSA released its latest data on mortgage lending. Repossessions are up on this time last year (surprise, surprise), but down on the last quarter. Dig a little deeper, however, and a little golden nugget of data comes out – and once we examine that, things look different.
The Council of Mortgage Lenders seems to be getting rather chuffed over all the green shoots, and has cut its forecast for repossessions this year; and, finally, Fitch Ratings has come out with some disturbing stuff about negative equity.
