News

Home Sales Hit New Record Low
» Click here for the original articleThe number of homes changing hands hit a new record low in October – but chartered surveyors are optimistic that business will pick up soon.

U.S. vows more help for AIG
» Click here for the original articleThe United States pledged more support for struggling insurer AIG on Monday, a day after China announced a $586 billion plan to stimulate domestic demand, as world governments took new action to battle the global financial crisis.
Nationwide Hit By The Downturn
» Read the full storyThe Nationwide Building Society has unveiled an 18% drop in half year profits coupled with an increase in bad debt.

HBOS board unanimously rejects bid to scupper Lloyds takeover
» Read the complete articleThe board of Britain's HBOS bank has rejected an attempt by two senior banking figures to replace its bosses and stop a takeover by rival Lloyds TSB, HBOS's chairman said Saturday.

Europe's DIY mkt to shrink in 2008, outlook bleak
» Read the full storyEurope's do-it-yourself market is set to shrink by 1.5 percent this year and the outlook for 2009 is even bleaker as economies contract and housing markets grind to a halt, a report said on Friday. (…)

£30k Wiped Off Value Of Your Home
» Read the full story£30k Wiped Off Value Of Your Home House prices have fallen 15% in the last year, wiping almost £30,000 from the average home's value, latest figures from Halifax show. (…)

Brown wants rate cuts passed on
» Click here for the original articleGordon Brown appealed to UK banks to pass on any interest rate cuts from the Bank of England in parliament this lunchtime. (…)
Obama expected to offer stimulus package
» Click here for the original article – U.S. (…)

Mandelson urges banks to pass on rate cuts
» Click here for the original articleBusiness minister Peter Mandelson urged banks Tuesday to pass interest rate cuts on to customers as markets are preparing for the Bank of England to slash rates by 75 basis points later this week. (…)

Crisis plunges EU towards recession
» Read the complete articleThe global financial crisis is pushing the whole European Union into recession, official forecasts showed on Monday, as South Korea unveiled its own 8.5 billion dollar stimulus package against the turmoil.

British ministers in talks with financier over possible rival bid for HBOS
» Click here for the original articleBritish ministers will hold talks with a leading Scottish businessman over a possible rival bid for mortgage lender HBOS, which has been hit hard by the subprime crisis, the government confirmed Saturday. (…)
New Zealand offers guarantee to stop banks running out of cash
» Read the full storyThe New Zealand government confirmed Saturday it will guarantee wholesale bank deposits in a scheme that it hopes will stop the financial system running out of cash.

Whipped by crisis, mortgage traders turn to rock
» Read the full storyRoughed up by the global credit crunch and Wall Street layoffs, dozens of mortgage bond traders turned their talents to music in a Halloween rock concert that raised about $50,000 for charity. (…)
Bank Deal Looks Set To Go Ahead
» Click here for the original articleThe Business Secretary Peter Mandelson is to confirm that the Lloyds TSB/HBOS deal can go ahead as the Tories prepare to attack the PM over borrowing. (…)

Mandelson 'To Confirm Bank Deal'
» Read the complete articleThe Business Secretary Peter Mandelson is to confirm tomorrow that the Lloyds TSB/HBOS deal can go ahead, according to Sky sources.
Bank of China books 3.8 billion dollars in investment losses
» Read the full storyBank of China said it had posted 26.3 billion yuan in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.

Instant View – Mortgage approvals tick up in Sept
» Click here for the original articleMortgage approvals for house purchase inched up in September for the first time in more than a year, after hitting a record low hit in August, the Bank of England said on Wednesday. (…)

'Million Facing Negative Equity'
» Read the complete article'Million Facing Negative Equity' Up to 1.2 million homeowners in Britain could soon fall into negative equity if house prices continue to fall steeply, a report has warned. (…)
Fed eyes further rate cut, steps to boost confidence
» Read the complete articleThe Federal Reserve opens a two-day meeting Tuesday widely expected to cut key interest rates further as part of an unrelenting effort by the central bank to restore confidence to battered markets. (…)

Belgium pumps 3.5 billion euros into KBC bank
» Click here for the original articleKBC became the latest Belgian bank to get its capital shored up by the Belgian state which pumped 3.5 billion euros into the group on Monday after a share slump. (…)