‘General’ News
Survey Shows Britons “Financially Overweight”
Posted 2008-01-2
Evidence collected from a recent survey by British lender Abbey indicates that a large majority of Britons are “financially overweight.” The study indicates that a mere 1 percent are in top form when it comes to how they manage their...
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New Study Reveals Cost of Last-Minute Holiday Splurge
Posted 2007-12-14
A report released yesterday by online banking giant Egg suggests that again this year, million of Britons will leave their holiday shopping until the last minute. Their delay will cause them to overspend by an estimated £594 million. Nearly 4...
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Bank of England Move Difficult to Predict
Posted 2007-12-6
The Monetary Policy Committee will hold its regular monthly meeting today and experts predict the cost of borrowing will drop from the current level of 5.75 percent to 5.5 percent. The Bank of England has been under increasing pressure to cut rates, which have risen five times since August 2006. Since July of this year, rates have held steady. The LIBOR, the base lending rate that banks charge each other, has gone up dramatically, a factor which may influence any decision to cut rates. The increase in LIBOR is adding to the current difficulty in the credit market. The MPC must determine how to balance a slowing economy with rising prices, so the decision could go either way, according to Reuters. This month’s decision whether to cut the rate is “one of the tightest calls ever,” according to Howard Archer of Global Insight. ...
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Resist Urge to Overdo It
Posted 2007-12-3
Many Britons will endure the headaches of holiday spending after the new year, according to Citizens Advice. Slowing wage growth, rising interest rates and high prices will contribute to their maladies. Citizens Advice is a free service that offers confidential...