Are we poised is to see the third leg of the credit crunch crisis?
After the initial credit crunch hit the US and began to spread around the world there was a period when many observers believed concerns had been overdone and the markets and economies around the world would return to "normal". However, we then saw a second leg which impacted upon the worldwide financial sector, stock markets, government budgets and other vital elements of "everyday life". However, there are growing concerns that we could be poised to see the third leg of the credit crunch hit the worldwide economy!
Earlier this week we saw concerns appear regarding the Greek economy, which has struggled due to the downturn, with a massive increase in the Greek government budget deficit. There is also the ongoing situation in Dubai which, despite government claims that it is "under control", still has some way to go before it is totally resolved. As a consequence, there is growing fear in the money markets that more governments around the world will struggle to raise funds needed to see them through the short to medium term, a time when the worldwide economy and local economies should start to turn the corner.
The danger is that if economies are starved of potential financial investment in the short term we could see a sharp U-turn and a further lurch downwards. This could literally push the worldwide economy into a depression, never mind a recession!
HBOS 'might be taken over by Lloyds TSB'
Lloyds TSB is in talks to take over HBOS, it emerged today.The discussions, which insiders say might result in a share deal which would value HBOS at around £16 billion, have come about due to the recent downwards pressure on the larger firm's stock.HBOS has been hit by negative market sentiment, with speculators apparently believing that it is having trouble in raising enough money to meet its c...Read More
UK insurance trap could hit 7 million people
It has been revealed that a number of UK insurance companies have small print built into their contracts, one of which demands that those acquiring policies need to reveal any past convictions or minor offences against their name. A recent case regarding a property which was the subject of an arson attack brought the small print to light when a £241,000 payment was paid back to Aviva after the co...Read More
Why does Lloyds bank need additional finance from the taxpayer?
Lloyds bank is rumoured to be on the verge of asking the UK government for an additional £5 billion from taxpayer coffers at a time when the UK banking sector has made strides but the likes of Lloyds bank and Royal Bank of Scotland still appear to be struggling. It seems that the call for extra funding centres upon the banks recent agreement to join the government's asset protection scheme and th...Read More
19% of people retire with debt
28/01/2015 One in five people retiring this year will have to do so with debts averaging £21,800, a study has shown. Research from Prudential, a financial services company, found that 19% of retirees will still have debt to pay off when they retire this year. This is an increase on the 17% of retirees with debt last year. 43% of those who took part in the survey still have a outstanding mor...Read More
When will the MPs expenses saga end?
Despite the fact that a number of MPs have been exposed in relation to the MP's expenses saga the situation continues this weekend with yet more startling revelation. Amongst them are claims for a duck island, mortgages which did not exist, second homes just a few miles from their main residence and other similar allegations and the list just goes on and on.
Many now believe it is t...