WHAT THE OTHER PAPERS SAY THIS MORNING February 2, 2011 FINANCIAL TIMES LLOYDS DROPS MORTGAGE BROKERS OVER SUSPECTED FRAUD Concerns over suspected fraud have prompted Lloyds Banking Group to cull the list of brokers it allows to sell its mortgages. The UK’s largest mortgage lender has removed some 900 individuals over the past four years from its “approved panel” of brokers, including 300 in the [...]
House prices and mortgage approvals drop in January February 1, 2011 HOUSE prices and mortgage approvals both fell in the first month of 2011 sparking fears of a sluggish year for the property market, according to closely watched data published yesterday. Mortgage lender Nationwide, the first to publish figures for January, indicated that house prices declined by a seasonally adjusted 0.1 per cent last month after [...]
Keep your loan on track January 26, 2011 IT’S a question playing on many homeowners’ minds: with interest rates expected to rise this year, should they fix their mortgage? The Bank of England left the official rate of borrowing unchanged for the 22nd consecutive month recently, but faces a dilemma given slowing economic growth and rising inflation. This week’s disappointing GDP data has [...]
What the other papers say this morning January 16, 2011 FINANCIAL TIMES RBS DIRECTOR TO STEP DOWN FROM BOARD One of the last Royal Bank of Scotland directors to remain on the bank’s board from the days of Sir Fred goodwin is poised to step down from his role. Colin Buchan, 56, a former UBS investment banker who until recently was chairman of RBS’s remuneration [...]
Fed makes $81bn profit January 10, 2011 THE US Federal Reserve reported record earnings yesterday, with profits jumping by more than 50 per cent to $80.9bn (£52bn) thanks to vast interest payments on its lending programmes. The Fed will turn over more than $78.4bn to the US Treasury, its highest ever contribution, as its $2.16 trillion portfolio of securities including US government [...]
Asia bank fees trump Europe January 6, 2011 ASIAN financial services have continued to grow on the global stage, showing a 22.2 per cent lift in investment banking fees taken in the region over the last year, as payments to European banks fell. Companies in Asia surged to contribute £12.8bn last year, as fees taken globally by investment banks jumped nine per cent [...]
Key dates to watch in 2011 January 6, 2011 JANUARY is traditionally a month of self-imposed austerity and resolutions to do better. Despite a recovering economy, in an environment of high unemployment, rapidly rising prices and a less generous state, keeping one’s finances under better control ought to be topping many 2011 resolution lists. While the VAT rise will be foremost in all of [...]
More credit for small UK businesses but housing market slump continues January 6, 2011 BANKS are increasing their lending to small businesses and expect to raise the availability of credit in the coming months, a Bank of England report revealed yesterday. Yet demand for mortgages is low and expected to keep falling, according to the credit conditions survey. And fears over falling house prices are preventing some lenders from [...]
Lenders expect stable credit conditions January 6, 2011 Lenders expect credit conditions to remain broadly steady in the first quarter of 2011 but are bracing for a further drop in mortgage demand and slightly higher losses from mortgage defaults, a survey by the Bank of England showed. The central bank’s quarterly credit conditions survey highlights the continued reluctance among banks to extend credit [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]