Ireland eyes mortgage debt restructuring August 22, 2011 The Irish government is likely bring in legislation to restructure mortgage debts for thousands of troubled loanholders as it does not have the resources to fund a significant debt forgiveness programme, a junior minister has said. Ireland’s ruling coalition has promised to examine ways to ease the burden on mortgage holders struggling to cope with [...]
Inflation to stay above 4pc August 15, 2011 INFLATION in the UK could have slowed further in July, yet is expected to spike again in late summer and during autumn. July’s consumer price index (CPI) and retail price index (RPI) figures are set for publication this morning, with some analysts forecasting a fall to 4.1 per cent in the CPI, and for the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 15, 2011 FINANCIAL TIMES CQS SHUTS FUND BUILT ON SUBPRIME TO NEWCOMERS CQS, the London-based credit hedge fund that is one of the biggest of its kind globally, is preparing to shut to new investors its asset-backed securities fund – known for its successful bets in the US subprime mortgage market. The move marks a further step [...]
Qantas cuts spending and drops orders June 15, 2011 AUSTRALIA’S Qantas Airways will slash spending by A$700m (£459m) and plans to cancel aircraft orders as it battles waning demand, soaring fuel costs and investor displeasure, with its shares trading near multi-year lows. Qantas, which suffered a blow to its reputation after an Airbus A380 accident last year forced it to ground its flagship aircraft, [...]
Consumer price inflation in shock jump May 17, 2011 Consumer price inflation jumped more than forecast in April – fuelled by soaring travel costs around Easter and higher duty on alcohol and tobacco, official data showed. The surprisingly sharp rise reinforces the policy dilemma for the Bank of England, keen to keep interest rates low to support a sluggish economy. The UK Consumer Prices [...]
Inflation dips on food prices April 12, 2011 INFLATION surprisingly slowed to four per cent in March, down from February’s 28-month high of 4.4 per cent, the Office for National Statistics (ONS) said yesterday. Consumer prices rose 0.3 per cent from February to March, yet compared to the same months last year inflation slowed by 0.4 per cent. Food discounts by the UK’s [...]
Record drop in mortgage debt at end of 2010 April 4, 2011 BRITONS are no longer withdrawing equity from their houses to fuel consumer spending, official data suggests. Outstanding mortgage debt plummeted by £7bn in the final three months of last year — a record fall in debt — the Bank of England revealed yesterday. The figure sharply contrasts with levels of mortgage debt prior to the [...]
Osborne to hike tax allowances March 22, 2011 GEORGE Osborne will today unveil small tax cuts, help for first-time buyers and a series of symbolic measures to show he is tough on the rich. But his Budget could be overshadowed by spiralling inflation and weaker public finances, preventing him from pulling any rabbits out of his hat. The chancellor will announce that he [...]
What the other papers say this morning February 28, 2011 FINANCIAL TIMES NORTHERN ROCK TO OFFER 90 PER CENT MORTGAGES Northern Rock is poised to launch a range of mortgages offering up to 90 per cent of a property’s value, marking the nationalised bank’s return to riskier lending three years after its collapse and government bail-out. The lossmaking lender could make the new high loan-to-value [...]
FED HAS DONE A GOOD JOB ON US EQUITIES January 31, 2011 THE Federal Reserve has so far done an excellent job of goosing US equities through its ongoing asset purchase programme. As Fed chairman Ben Bernanke has intimated, boosting stock prices is now one of the Reserve’s aims, on top of its officially mandated dual role of ensuring price stability and full employment. So investors were [...]