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News Archive
December 2008
Simple IVA's news pages, keep an eye on the latest Finance & Money News.FTSE 100 sees worst ever year - 31/12/08
The FTSE 100 recorded its worst year in 2008 since its establishment in 1984 falling over 30 per cent
The FTSE 100 recorded its worst year in 2008 since its establishment in 1984 falling over 30 per cent
Morgan calls in administrators - 31/12/08
French women's fashion store Morgan has entered administration – becoming the first major French retail victim of the global slowdown
French women's fashion store Morgan has entered administration – becoming the first major French retail victim of the global slowdown
Aberdeen takes a slice of Suisse - 31/12/08
Aberdeen Asset Management is to take on Credit Suisse's fund management arm in a deal worth £250 million
The all-share deal will see Credit Suisse take a 24
Aberdeen Asset Management is to take on Credit Suisse's fund management arm in a deal worth £250 million
The all-share deal will see Credit Suisse take a 24
Record IVA levels predicted in 2009 - 31/12/08
A new report from KPMG claims that the number of British people entering insolvency proceedings will rise to unprecedented levels next year
A new report from KPMG claims that the number of British people entering insolvency proceedings will rise to unprecedented levels next year
FTSE 100 up on end of worst ever year - 31/12/08
The FTSE 100 was up this morning as its ends its worst ever year
The FTSE 100 was up this morning as its ends its worst ever year
More affordability for first-time buyers in 2008 - 31/12/08
Despite the economic downturn the affordability of property for first-time buyers has improved significantly in the last year, a new review has found
Despite the economic downturn the affordability of property for first-time buyers has improved significantly in the last year, a new review has found
Christmas boost remains on markets - 30/12/08
The FTSE 100 closed up again today, as the slow moving markets maintained some festive glee before the turn their backs on a torrid 2008
The FTSE 100 closed up again today, as the slow moving markets maintained some festive glee before the turn their backs on a torrid 2008
FTSE 100 continues post-Christmas boost - 30/12/08
The FTSE 100 was up again this morning, for a second day of gains after the Christmas break
The FTSE 100 was up again this morning, for a second day of gains after the Christmas break
Cameron accuses Brown of 'debt bombshells' - 30/12/08
David Cameron has slammed prime minister Gordon Brown for "dropping bombs" on the UK economy
David Cameron has slammed prime minister Gordon Brown for "dropping bombs" on the UK economy
FTSE 100 holds on to festive cheer - 29/12/08
The FTSE 100 was up nearly two per cent today, as the first day back after Christmas for traders brought a touch of festive cheer
The FTSE 100 was up nearly two per cent today, as the first day back after Christmas for traders brought a touch of festive cheer
Adams looks to raise funds to avoid administration - 29/12/08
Children's clothes chain Adams is looking to raise funds by the end of the week to avoid facing administration
Children's clothes chain Adams is looking to raise funds by the end of the week to avoid facing administration
Sterling falls further against euro - 29/12/08
The pound fell further against the euro today to new record lows
The pound fell further against the euro today to new record lows
Britons 'turning to credit cards' - 29/12/08
A growing number of British people could be building up credit card debt as the economic downturn continues to put pressure on personal finances
A growing number of British people could be building up credit card debt as the economic downturn continues to put pressure on personal finances
Brits stop remortgaging to spend - 29/12/08
House price falls and the credit crunch have stopped Britons remortgaging to spend, as they focus more on paying off their mortgages
House price falls and the credit crunch have stopped Britons remortgaging to spend, as they focus more on paying off their mortgages
600,000 job losses expected for 2009 - 29/12/08
The coming year could see as many as 600,000 job losses with over a quarter of workers expecting no pay rise
The coming year could see as many as 600,000 job losses with over a quarter of workers expecting no pay rise
FTSE 100 jumps 2.4% after Christmas - 29/12/08
London opened surprisingly up this morning, as markets shook back to life after Christmas
London opened surprisingly up this morning, as markets shook back to life after Christmas
Retailers predict gloomy Christmas results - 26/12/08
The director general of the British Retail Consortium (BRC) has admitted that early indications show this year's Christmas trading results "won't be pretty"
The director general of the British Retail Consortium (BRC) has admitted that early indications show this year's Christmas trading results "won't be pretty"
Stores go for broke on Christmas Eve sales push - 24/12/08
Some 90 per cent of stores are cutting prices today in a last ditch effort to get shoppers spending before Christmas Day
Some 90 per cent of stores are cutting prices today in a last ditch effort to get shoppers spending before Christmas Day
Zavvi calls administrators as 3,000 jobs at risk - 24/12/08
CD and DVD retailer Zavvi is going into administration
CD and DVD retailer Zavvi is going into administration
FTSE 100 falls over 1% in early trading - 24/12/08
The FTSE 100 fell over one per cent in early trading this morning
The FTSE 100 fell over one per cent in early trading this morning
Officers Club sold off and saved - 24/12/08
Clothing retailer the Officers Club is to close 32 of its shops, but 118 will remain open and 900 jobs will be saved
Clothing retailer the Officers Club is to close 32 of its shops, but 118 will remain open and 900 jobs will be saved
Whittard of Chelsea sold off - 24/12/08
Whittard of Chelsea was sold off yesterday, after going into administration
Whittard of Chelsea was sold off yesterday, after going into administration
House prices to drop 10% in 2009 - 24/12/08
House prices will end 2009 25 per cent lower than the peak of the market, according to new analysis
House prices will end 2009 25 per cent lower than the peak of the market, according to new analysis
FTSE 100 loses gains in final drop - 23/12/08
The FTSE 100 lost most of today's gains in a drop in the final hour of trading
The FTSE 100 lost most of today's gains in a drop in the final hour of trading
UK not yet in official recession as GDP revised down - 23/12/08
Fears that GDP would be revised downwards to put the UK in official recession were not realised today
Fears that GDP would be revised downwards to put the UK in official recession were not realised today
Monday was busiest shopping day of the year - 23/12/08
Yesterday was the busiest shopping day of the year, with higher shopper numbers expected today and December 24th
Yesterday was the busiest shopping day of the year, with higher shopper numbers expected today and December 24th
FTSE 100 sees early gains - 23/12/08
The FTSE 100 was up a touch this morning on a slow morning of trading
The FTSE 100 was up a touch this morning on a slow morning of trading
Tea shop Whittard faces closure - 23/12/08
Whittard of Chelsea could face closure, as the chain looks like becoming the latest victim of the economic slowdown
Whittard of Chelsea could face closure, as the chain looks like becoming the latest victim of the economic slowdown
Struggling borrowers 'should consider debt consolidation' - 22/12/08
Consumers who are finding it difficult to manage their debts have been urged to think about pursuing a method of debt consolidation
Consumers who are finding it difficult to manage their debts have been urged to think about pursuing a method of debt consolidation
Toyota posts first loss in 70 year history - 22/12/08
Toyota today announced a loss of over £1 billion – the first time it has failed to make a profit since its establishment in 1938
Toyota today announced a loss of over £1 billion – the first time it has failed to make a profit since its establishment in 1938
Tata pumps cash to Jaguar Land Rover - 22/12/08
Tata Motors is to inject tens of millions of pounds into Jaguar Land Rover to resolve its cash flow crisis
Tata Motors is to inject tens of millions of pounds into Jaguar Land Rover to resolve its cash flow crisis
Bank of England 'failed to understand credit crisis' - 22/12/08
The Bank of England knew about unsustainable lending but failed to act, deputy governor Sir John Gieve has stated
The Bank of England knew about unsustainable lending but failed to act, deputy governor Sir John Gieve has stated
Poundland to expand as recession hits pockets - 19/12/08
Poundland is to open 35 new stores in 2009 creating 1,200 new jobs
Poundland is to open 35 new stores in 2009 creating 1,200 new jobs
Bank of Japan cuts rates to 0.1% - 19/12/08
The Bank of Japan last night cuts the nation's interest rates to 0
The Bank of Japan last night cuts the nation's interest rates to 0
FTSE 100 falls 1% on opening - 19/12/08
The FTSE 100 started the day with a one per cent fall – marking a pattern seen through much of the week of early losses made up during the day
The FTSE 100 started the day with a one per cent fall – marking a pattern seen through much of the week of early losses made up during the day
Public faith in the economy falls, but confidence up - 19/12/08
Public confidence in the state of the UK economy fell further this month
Public confidence in the state of the UK economy fell further this month
British homeowners facing "bleak winter" - 19/12/08
New data from the Council of Mortgage Lenders (CML) suggests that more British people are at risk of losing their homes due to debt problems next year
New data from the Council of Mortgage Lenders (CML) suggests that more British people are at risk of losing their homes due to debt problems next year
FTSE 100 firm as banks drop - 18/12/08
After a stable day, the FTSE 100 made up late losses to close down 0
After a stable day, the FTSE 100 made up late losses to close down 0
Job losses could lead to debt disaster - 18/12/08
Many British people fear they would succumb to major debt problems if they were to lose their jobs, new research has revealed
Many British people fear they would succumb to major debt problems if they were to lose their jobs, new research has revealed
75,000 repossessions in 2009 forecast - 18/12/08
The number of homeowners falling behind on their mortgage will increase by 138 per cent in the coming year
The number of homeowners falling behind on their mortgage will increase by 138 per cent in the coming year
Bean: 0% interest rates are a possibility - 18/12/08
Interest rates in the UK could follow the US and Japan and head down to zero per cent, a leading member of the Bank of England's monetary policy committee (MPC) stated today
Interest rates in the UK could follow the US and Japan and head down to zero per cent, a leading member of the Bank of England's monetary policy committee (MPC) stated today
Oil production cut to push up prices - 17/12/08
Oil producers today responded to the falling oil price by slashing production
Oil producers today responded to the falling oil price by slashing production
Further rise in bankruptcy levels predicted - 17/12/08
A financial expert has predicted that the level of personal bankruptcies in the UK will continue to see significant growth next year
A financial expert has predicted that the level of personal bankruptcies in the UK will continue to see significant growth next year
Unemployment 'could top 3m' - 17/12/08
Bank of England economist David Blanchflower has warned unemployment is likely to rise above three million in the current recession
Bank of England economist David Blanchflower has warned unemployment is likely to rise above three million in the current recession
Fed slashes interest rate to near zero - 17/12/08
The United States Federal Reserve has slashed its main interest rate from one per cent to a range of between zero and 0
The United States Federal Reserve has slashed its main interest rate from one per cent to a range of between zero and 0
Darling promises not to 'claw back' pension overpayments - 16/12/08
Alistair Darling is to write-off pension overpayments made to 95,000 retired public sector staff, NHS workers and service personnel
Alistair Darling is to write-off pension overpayments made to 95,000 retired public sector staff, NHS workers and service personnel
Ofgem on track to cut energy bills by £500m - 16/12/08
Ofgem is pushing the six main energy suppliers to strip unfair charges from their bills as the regulator targets £500 million of savings for consumers
Ofgem is pushing the six main energy suppliers to strip unfair charges from their bills as the regulator targets £500 million of savings for consumers
January energy bill to be £250 higher - 16/12/08
Brits are being warned this January's gas and electricity bill could be as much as £250 higher than a year ago
Brits are being warned this January's gas and electricity bill could be as much as £250 higher than a year ago
Derby resident explains bankruptcy - 15/12/08
A young woman from Derby has revealed how mounting debt problems led her to file for personal bankruptcy this year
A young woman from Derby has revealed how mounting debt problems led her to file for personal bankruptcy this year
Reckless City workers will face justice - 15/12/08
Irresponsible bankers and businessmen must be held to account if their actions are shown to have hurt the economy, David Cameron has insisted
Irresponsible bankers and businessmen must be held to account if their actions are shown to have hurt the economy, David Cameron has insisted
European banks count cost of Madoff 'fraud' - 15/12/08
The list of banks and funds that have lost money following an alleged $50 billion investment fraud continues to grow
The list of banks and funds that have lost money following an alleged $50 billion investment fraud continues to grow
Senate rejects US bailout bill - 12/12/08
The US auto bailout bill has been rejected by the Senate after Democrats failed to convince enough Republicans to assist the industry
The US auto bailout bill has been rejected by the Senate after Democrats failed to convince enough Republicans to assist the industry
Home repossession measures welcomed - 11/12/08
The government's scheme to help mortgage holders struggling with debt or other financial difficulties has been welcomed by an industry group
The government's scheme to help mortgage holders struggling with debt or other financial difficulties has been welcomed by an industry group
MP backs government stance on credit card debt - 11/12/08
Labour MP Claire Ward has voiced her support for the government's efforts to clamp down on irresponsible lending among credit card companies
Labour MP Claire Ward has voiced her support for the government's efforts to clamp down on irresponsible lending among credit card companies
Christmas could plunge some into debt - 10/12/08
With a plethora of family and friends to buy gifts for and numerous events such as office Christmas parties to attend, it is no surprise that many struggle to finance their way through December
With a plethora of family and friends to buy gifts for and numerous events such as office Christmas parties to attend, it is no surprise that many struggle to finance their way through December
Bank chief predicts fall in credit card spending - 10/12/08
The chief executive of Barclaycard has said that credit card spending will drop in the UK next year as consumers attempt to tackle their debts
The chief executive of Barclaycard has said that credit card spending will drop in the UK next year as consumers attempt to tackle their debts
UK GDP to fall one per cent - 10/12/08
The UK economy is likely to contract by one per cent in the three months to the end of November
The UK economy is likely to contract by one per cent in the three months to the end of November
Manufacturing output sharply down - 09/12/08
Manufacturing output fell significantly faster in October as the UK slides into a messy recession
Manufacturing output fell significantly faster in October as the UK slides into a messy recession
FTSE 100 drops 1.4% - 09/12/08
The FTSE 100 was down this morning – but holding on to much of yesterday's gains
The FTSE 100 was down this morning – but holding on to much of yesterday's gains
Lowest number of property sales ever - 09/12/08
November saw the lowest number of property sales ever, as the property slowdown continued
November saw the lowest number of property sales ever, as the property slowdown continued
UK's economic recovery 'dependent' on immigrant workers - 09/12/08
The continued influx of migrant workers is essential to the UK's weathering of the current economic crisis, a new report claims
The continued influx of migrant workers is essential to the UK's weathering of the current economic crisis, a new report claims
HSBC pledges to up mortgage lending - 08/12/08
HSBC has pledged to increase its mortgage lending in 2009 by 20 per cent
HSBC has pledged to increase its mortgage lending in 2009 by 20 per cent
PM to push banks over rate cut - 05/12/08
Gordon Brown is pushing high street banks and building societies to cut their lending rates after the Bank of England's one per cent cut yesterday
Gordon Brown is pushing high street banks and building societies to cut their lending rates after the Bank of England's one per cent cut yesterday
Brown reveals plan to combat repossessions - 04/12/08
Gordon Brown has unveiled a new scheme designed to ease the pressure on people whose debt problems put them at risk of losing their home
Gordon Brown has unveiled a new scheme designed to ease the pressure on people whose debt problems put them at risk of losing their home
Taxpayer to take stake in New Star - 04/12/08
The taxpayer is to become a major owner of the troubled New Star fund after several banks bailed it out in a debt-for-equity swap
The taxpayer is to become a major owner of the troubled New Star fund after several banks bailed it out in a debt-for-equity swap
Bank of England cuts interest rates again - 04/12/08
The Bank of England has cut interest rates by one per cent – the third cut in interest rates in three months
The Bank of England has cut interest rates by one per cent – the third cut in interest rates in three months
FTSE up before interest rate decision - 04/12/08
After spending much of Wednesday in the doldrums, traders in London this morning continued a last minute rally from last night, ahead of an expected Bank of England interest rate cut
After spending much of Wednesday in the doldrums, traders in London this morning continued a last minute rally from last night, ahead of an expected Bank of England interest rate cut
GM and Chrysler 'consider bankruptcy' - 04/12/08
General Motors and Chrysler are reported to be considering accepting a pre-arranged bankruptcy in a bid to receive a multi billion dollar government bailout
General Motors and Chrysler are reported to be considering accepting a pre-arranged bankruptcy in a bid to receive a multi billion dollar government bailout
Northern Rock overs 6-month repossession reprieve - 03/12/08
Northern Rock has pledged to stop repossession actions until a mortgage borrower is six months behind on their repayments
Northern Rock has pledged to stop repossession actions until a mortgage borrower is six months behind on their repayments
Consumer confidence drops again - 03/12/08
Consumer confidence fell yet again in November, despite the Bank of England's interest rate cut along with falling fuel and food costs
Consumer confidence fell yet again in November, despite the Bank of England's interest rate cut along with falling fuel and food costs
Service sector shrinks at record rate - 03/12/08
The UK service sector is contracting at a record rate as the UK looks set to enter a deep recession
The UK service sector is contracting at a record rate as the UK looks set to enter a deep recession
Banks move to safeguard small business customers - 03/12/08
Two high street banks have unveiled new measures to help small businesses survive the looming recession
Two high street banks have unveiled new measures to help small businesses survive the looming recession
Credit card debt 'causing repossessions' - 03/12/08
A growing number of British residents are putting their homes at risk due to unpaid credit card bills and other loan debts, it has emerged
A growing number of British residents are putting their homes at risk due to unpaid credit card bills and other loan debts, it has emerged
Job market contracts at record rate - 03/12/08
The job market contracted at a record rate in November as companies freezed recruitment amid worsening economic conditions
The job market contracted at a record rate in November as companies freezed recruitment amid worsening economic conditions
Lancashire residents urged to seek debt advice - 02/12/08
People living in Blackburn have been advised to seek help if they find themselves struggling to cope with debts over the Christmas period
People living in Blackburn have been advised to seek help if they find themselves struggling to cope with debts over the Christmas period
FTSE 100 holds firm under pressure - 02/12/08
The FTSE 100 managed to hold firm today – not following losses last night in the US and Asia
The FTSE 100 managed to hold firm today – not following losses last night in the US and Asia
Tesco sees sales growth slowing as recession fears bite shoppers - 02/12/08
Tesco reported today a slowdown in sales growth, with UK like-for-like sales, excluding petrol, up just two per cent for the last three months
Tesco reported today a slowdown in sales growth, with UK like-for-like sales, excluding petrol, up just two per cent for the last three months
Pound continues to fall - 02/12/08
Sterling has continued to fall against the dollar this morning after it experienced its largest percentage drop on Monday since 1992
Sterling has continued to fall against the dollar this morning after it experienced its largest percentage drop on Monday since 1992
Thomas Cook reports profit rise - 02/12/08
Thomas Cook has today reported a 32 per cent rise in pre-tax profits for the year
Thomas Cook has today reported a 32 per cent rise in pre-tax profits for the year
FTSE 100 down 1% after Dow falls 7.7% - 02/12/08
London started the day with further falls, following drops last night in New York and in Asia
London started the day with further falls, following drops last night in New York and in Asia
Bank of England set to cut rates to record low - 02/12/08
The Bank of England is set to cut interest rates to record low this week, following poor economic data released yesterday
The Bank of England is set to cut interest rates to record low this week, following poor economic data released yesterday
Borrowers 'must address credit card debts' - 01/12/08
A financial expert has urged British consumers to tackle their credit card debt problem before it is too late
A financial expert has urged British consumers to tackle their credit card debt problem before it is too late
RBS stops repossessions for six months - 01/12/08
Royal Bank of Scotland (RBS) has promised not to start repossession actions on borrowers until they are six months behind on their mortgages
Royal Bank of Scotland (RBS) has promised not to start repossession actions on borrowers until they are six months behind on their mortgages
London Scottish Bank in administration - 01/12/08
Specialist lender London Scottish Bank has gone into administration, it has been announced, with the government offering a 100 per cent savings guarantee
Specialist lender London Scottish Bank has gone into administration, it has been announced, with the government offering a 100 per cent savings guarantee
FTSE 100 down 1% - 01/12/08
The FTSE 100 started December with a one per cent drop, after last week's rally
The London index was down 1
The FTSE 100 started December with a one per cent drop, after last week's rally
The London index was down 1
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