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 […]
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
Efficiency targets threaten health service jobs: Public Finance Read More »
Home equity release schemes in which homes are sold and rented back should be subject to regulation by the Financial Services Authority, the Office of Fair Trading has concluded after an investigation. See http://www.primelocation.com/news/regulation-likely-on-home-sale-and-rent-back/
Regulation likely on home sale and rent back: Primelocation Read More »
Further falls in house prices can be expected, according to the latest Housing Market Survey from the Royal Institution of Chartered Surveyors (RICS). However, the survey found some signs of gradually improving market sentiment. See http://www.primelocation.com/news/house-prices-fall-further-according-to-rics-survey/
Building societies are angry – and no wonder. The collapse of former society Bradford & Bingley has left them facing massive financial contributions, significant reductions in their profits and a cost to their members through less favourably priced products. Bradford & Bingley went bust, provoking its nationalisation by the Treasury. To put it
When sound financial management is penalised: Co-operative News Read More »
Emergency action to strengthen the capital position of banks and building societies should help free up the mortgage market and improve the prospects of borrowers, according to the Council of Mortgage Lenders. See: http://www.primelocation.com/news/mortgage-lenders-thrown-lifeline/
Questions of Cash: ‘Exchange rates left me dangling on earrings refund’ By Paul Gosling Saturday, 11 October 2008 Q. In Copenhagen in March, I wanted to buy some earrings from Magasin du Nord. I asked the price, and thought the assistant said 1,100 krone (£105). After the debit card payment was processed, I
Questions of Cash: Exchange commission kept me dangling for refund: The Independent Read More »
Meltdown in the global financial markets has hit local government pension schemes hard. Not only are they all badly affected by the vicious fall in share prices, but some held direct investments in institutions and securities that collapsed in value. Perhaps surprisingly, the failure of the giant US investment bank Lehman Brothers has brought
Council pension schemes are next victim: Local Government Chronicle Read More »
Beware the consolidated loan The daytime tv ads can look very tempting. ‘Worried about debt?’, they ask. ‘Just phone and we will sort it out’, they explain. But there is far more to think about than just seeing an advertisement and responding. With the credit crunch biting hard, more of us are
The Bank of England and other central banks have operated with unprecedented global co-ordination to announce a cut in base rates of half a per cent. The Bank of England base rate has now fallen to 4.5% – the lowest level for two years. See http://www.primelocation.com/news/dramatic-interest-rate-cut-takes-market-by-surprise/
Dramatic interest rate cut takes market by surprise: Primelocation Read More »
Buy-to-let investors are facing a harder time obtaining mortgages – despite signs that income from property rentals is rising, as more would-be first time buyers opt to rent instead. See http://www.primelocation.com/news/rental-demand-rises-buy-to-let-mortgages-fall/
Rental demand rises, buy-to-let mortgages fall: Primelocation Read More »
Questions of Cash: ‘I had to pay delivery costs for a sofa I don’t want’ By Paul Gosling Saturday, 4 October 2008 Q. I ordered a leather sofa from English Sofas, which was ripped during delivery. This was spotted by the delivery workers, who took the goods directly back to the suppliers. I