Having studied the latest figures from the Insolvency Service, Grant Thornton is predicting a glut of company failures in England and Wales during 2010.
Last year saw a record 4,161 companies placed in administration (up 1.7% on 2008) and the accountancy firm warns: “There is no light at the end of the tunnel for troubled companies [...]
Speaking today at the annual conference of the Confederation of British Industry (CBI), Prime Minister Gordon Brown told business leaders that in order to sustain economic recovery, financial stimulus measures will be kept in place for as long as necessary.
The PM warned that economic recovery would be put at risk if official support was withdrawn [...]
US light crude hit $74.49 (£45) a barrel by afternoon in Europe today – after reaching $74.81, its highest intra-day price in ten months, on the back of increasing demand.
Meanwhile, London’s Brent crude was 16 cents higher to $74.35 a barrel.
This resulted in stock rising in BP, Royal Dutch Shell, BG Group and Cairn [...]
Homeowners will be forced to “scramble around” for good value fixed-rate mortgages in the future as interest rates “fly up”, an industry expert has warned.
Jacqueline Thornton, financial planner at Re-Financial Planning, said householders that are currently happy to benefit from currently low-priced standard variable rate mortgages will struggle to find a reasonably priced fixed-rate deal [...]
The RBS (RBS) warned this week that the UK’s economy will not start recovery until 2011.
Stephen Hester, chief executive, expects unemployment to continue rising.
The journey to economic recovery will be a “marathon” rather than a “sprint”, Hester said.
“I believe we are coming out of the problems but when we start coming out it doesn’t mean [...]