Archive for October, 2008

A Place in the Sun?: Public Finance

As the global financial crisis deepens, public sector pension schemes are facing a double whammy. Not only are they suffering from falling share values, but there are increasing calls for their ‘generous’ retirement benefits to be curtailed. Paul Gosling investigates
Public sector pensions make a surprising topic for newspaper headlines, but they have increasingly grabbed them [...]

Hope emerges: Primelocation

Glimmers of hope are emerging in the residential property market, with mortgage lending rising, inter-bank lending rates falling and the prospect of further moves by the world’s major central banks to again cut base rates.

For full story go to http://www.primelocation.com/news/hope-emerges/

Co-op merger a sign of confidence: Co-operative News

The  Paul Gosling Column
 
A ‘United Co-operatives’ moment for Co-operative Financial Services may be looming. The impetus for growth and renewal in the retail sector provided by the merger of the Co-operative Group and United Co-operatives could be replicated by the possible amalgamation of CFS with the Britannia Building Society.
 
Following the media leaks of discussions between [...]

Accountancy news: Accounting & Business

 
Off-balance sheet and off track
 
Tougher action against off-balance sheet accounting practices, global regulation of financial markets and permanent restrictions on short selling may all be long-term outcomes of the global financial meltdown.
 
Leaders of the leading industrial countries appear to have reached a consensus that light touch regulation of the financial sector is unsustainable. Governments in [...]

Irish collapse a sign of continued trouble: Primelocation

One of Ireland’s largest housebuilders - with property development interests in England and much of the world - has collapsed. The Belfast-based Taggart Holdings was placed in administration at the request of its two largest lenders, the Bank of Ireland and Ulster Bank (part of the Royal Bank of Scotland).

Continued at http://www.primelocation.com/news/Irish-collapse-a-sign-of-continued-trouble/

Protecting homeowners from repossession: Primelocation

New rules to protect homeowners from repossession by mortgage lenders have been announced by the Treasury. Housing minister Margaret Beckett said the move would ensure that repossessions could only take place after all other avenues have been explored.

Continued at http://www.primelocation.com/news/protecting-homeowners-from-repossession/

Questions of Cash: I want unfair bank charges refunded: The Independent

Questions of Cash: I want a refund for these unfair overdraft charges
 
 
By Paul Gosling
Saturday, 25 October 2008
Q. Credit card fraud led to me receiving a £2,000 American Express bill. AmEx told me to cancel my direct debit with my bank, Alliance & Leicester, to avoid this payment being processed. I tried to cancel using A&L’s [...]

Questions of Cash: ‘Vodafone made me go overdrawn’: The Independent

Questions of Cash: ‘My bank charged me for going overdrawn – but it’s Vodafone’s fault’
 
 
By Paul Gosling
Saturday, 18 October 2008
Q. Vodafone incorrectly changed my tariff, which generated an extra £75 on my next bill. As I was not expecting this, there were insufficient funds in my bank account, so I was charged £135 by my [...]

Coming to the crunch: Public Finance

The crisis in the markets has left a trail of financial giants in tatters. Public services, especially those with Icelandic investments, are feeling the strain. Paul Gosling reports on how the sector is preparing for the worst
‘Never send to find for whom the bell tolls, it tolls for thee.’ John Donne’s lament for the passing [...]

Efficiency targets threaten health service jobs: Public Finance

Around 2,000 health service jobs will be lost in Northern Ireland in the next three years as part of efficiency savings, Health Minister Michael McGimpsey has said.
The cuts are likely to include 700 nursing posts, 900 administrative jobs and 450 posts in social services, although there are unlikely to be redundancies, McGimpsey told the Assembly’s [...]