Most European equities markets saw gains Monday after an announcement from the Chinese government that it will spend 4 trillion yuan ($586 billion) in the next two years in support of its economy.
In London, the FTSE 100 was up 0.89 percent to 4,403.92 and the FTSE 250 added 1.08 percent to 6,656.56 on gains in [...]
Banking giant HSBC has revealed that losses have soared by $700 million to $4.3 billion (£2.7 billion) in the third quarter due to bad debt charges relating to the US sub-prime mortgage market crisis.
This takes its total impairment since the US housing market crisis first emerged in late 2006 to approximately $23 billion.
Furthermore, the bank [...]
Figures from the Office for National Statistics (ONS) have revealed that manufacturers’ output prices fell by 1% in October from September, which is the largest monthly fall since records began in 1986.
The fall, which is primarily due to the recent fall in oil prices, means the annual rate of output price inflation is down to [...]
Sir George Mathewson, former chief executives of RBS (RBS) and Sir Peter Burt, former chief executive of Bank of Scotland (BoS), are trying to convince HBOS shareholders they will not benefit from the current Lloyds TSB deal on the table.
The merger of the two banking giants, which will create Lloyds Banking Group, was given the [...]
The chief executive of Nationwide Building Society, Graham Beale, is predicting that house prices will continue to fall during 2008/09 and possibly into 2010.
Mr Beale is expecting a peak to trough decline of 25%, after which improved affordability ratios will encourage first-time buyers back into the market.
The comments came as the UK’s largest building society [...]
What Will Happen to Mortgage Rates?
After the Bank of England’s decision to cut interest rates by 1.5%, there was a predictable scrutiny of the high street banks to see whether they would pass the cut on to consumers.
Interestingly, one of the first banks to announce they would pass the cut on was Lloyds TSB and [...]