Your jargon busting guide to the current crunch crisis
Posted in News on Oct 20th, 2008
News Week: 20th October 2008
The UK is said to have plunged into a recession and that by the end of next year there could be as many as 400,000 more people unemployed. The banks have recently decided not to pass on the 0.5% cut in inflation rates to their customers.
Posted in News on Oct 13th, 2008
News Week: 13th October 2008
The Centre for Economics and Business Research consultancy has said that this is now the worst financial situation that we have seen for 70 years. As a result of this they predict that by the end of next year 60,000 workers from the Financial City will have lost their jobs; this [...]
Posted in News on Oct 6th, 2008
News Week; 6th October 2008
Personal loan interest rates are increasing rapidly in the current climate; Lloyds TSB has seen some of its loans increase by up to 37%, a huge mark-up for the consumer, especially in this dire financial situation.
Posted in News on Sep 29th, 2008
News Week: 29th September
This week the government has nationalised Bradford and Bingley’s mortgage lending which stands at £41 billion in debt. The building society’s other assets of the savings accounts have been bought by the Santander group.
Posted in News on Sep 22nd, 2008
News Week: 22nd September 2008
The credit crunch has really hit hard these past few weeks; £100 billion has been wiped off from the stock markets and predictions into the economic future seem bleak. Estimations form Britain’s largest mortgage provider, HBOS, are that the credit crunch could last another 18 months.
The Economist
