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Money News Archive: February 2008 - June 2008

 

Money News Archive


Norfolk: The Home of the Prolific Saver (30-06-08) - Savers in North Norfolk have the biggest savings balances relative to local earnings in the UK...................

Icesave Increase Savings Interest (26-06-08) - The savings war took another twist yesterday as Icesave announced improved interest rates on its most popular accounts....................

Visa and Facebook in Cahoots (25-06-08) - Credit card issuer Visa has firmly nailed its colours to the social networking mast....................

Online Banking Trumps Social Networking (24-06-08) - As an internet pastime, banking beats bleating in the surfing stakes....................

Post Office Joins Euro Revolution (23-06-08) - Cash machines have been installed in a number of Post Offices dispensing commission free foreign currency.....................

Holiday Fun Leading to Financial Meltdown (20-06-08) - A significant number of Brits have confessed to overspending while on holiday....................

UK Consumers: Credit Crunch is a Conspiracy (19-06-08) - British consumers believe the credit crunch is a term created by the media....................

Lloyds TSB set to play Cilla in Reunification Drive (18-06-08) - One of Britain’s leading banks has pledged to reunite 120,000 stranded savings accounts with their owners.........................

Discount Codes: The Haggle-Free Gateway to Bargains (17-06-08) - The trend for using discount codes in conjunction with online purchases is on the rise.........................

Barclays Pin Hopes on Modern Makeover (16-06-08) - Having fully tested its new branch layout behind closed doors, Barclays are ready to roll out the re-designs.........................

Credit Crunch Prompts ‘No Frills’ Summer (13-06-08) - Research published by GE Money shows one in four UK consumers feel their finances have spiralled ‘out of control’.........................

Halifax Bumper Savings Account – Is there a Catch? (12-06-08) - Holes are being picked in the new best buy busting Halifax savings account. Is all as it seems?........................

Cotton Traders Suffer Card Details Theft (11-06-08) - Clothing retailer Cotton Traders became the victim of a high profile web hack, resulting in the theft of credit and debit card details........

Savers Sainted but Borrowers get Binned (10-06-08) - As the credit crunch continues to bite, banks are prepared to reward those who go back to black..........................

Recession ‘Upon us already’ say UK Consumers (09-06-08) - Two thirds of UK consumers believe the country has fallen into recession already..........................

Banks Face PPI Crackdown (06-06-08) - Banks and credit card issuers will no longer be allowed to get away with payment protection insurance ‘daylight robbery’............

Northern Rock Sign Mortgage Deal with Lloyds TSB (05-06-08) - Government owned high street lender Northern Rock has found a mortgage solution in the shape of Lloyds TSB.........................

FSA Unveil Financial Training Site for Teens (04-06-08) - In an attempt to prevent young adults from starting their life in debt, the FSA has introduced a teen-oriented financial advice site........................

Capital One Announce Best Buy Topping Terms (03-06-08) - In the light of the credit crunch, Capital One is striving to make its range more attractive.......................

Store Card Payments are ‘No Quick Fix’ (02-06-08) - Defying all known logic and rational thinking, shoppers are turning to store cards in order to remedy their credit crunch woes.......................

Barclays First to Reduce Overdraft Fees (30-05-08) - Fears over OFT actions on unauthorised overdraft fees are forcing high street banks into a battle for current account customers.....................

RBS Credit Cards – 0% Balance Transfer Period Extended (29-05-08) - The Royal Bank of Scotland extended the 0% balance transfer period for new applicants to its credit card this week....................

ID Theft – London Tenants at Risk (28-05-08) - Research commissioned by credit reference agency Experian has highlighted those most at risk from ID theft....................

Speed Banking - Same Day Transfers Go Live (27-05-08) - Banks are rolling out a new payment system which will eliminate the three day clearing black hole...................

Bank Appeal Upheld (23-05-08) - As anticipated, the appeal by banks against the OFT test case outcome has been upheld...................

OFT and Banks back in Court (22-05-08) - Round two in the unfair overdraft charges test case kicks off today, with the banks likely to appeal against last month’s outcome...................

McAfee Question Contactless Payment Security (21-05-08) - It is estimated that by 2011 around 50 million people will be utilising contactless payment technologies, but are they safe..................

Technology Developed to Spy on Bank Staff (20-05-08) - Do you work for a bank? If you do, your e-mails, phone calls and instant messenger conversations are about to be monitored by a computer...................

Credit Crunch takes hold of the Affluent (19-05-08) - Nobody, it seems, is safe from the ever expanding clutches of the credit crunch...................

Shared ownership scheme extended to help first time buyers (16-05-08) - All first time buyers earning less than £60,000 will now be eligible for the Government’s HomeBuy programme it was announced today ...................

Credit crunch hits CreditChoices users (15-05-08) - More than half of CreditChoices.co.uk users are feeling the squeeze as a result of the ongoing credit crunch according to our latest survey ...................

Mortgage lending drops to 33-year low (14-05-08) - Lending to home buyers has dropped to its lowest point for 33 years according to new data from the Council of Mortgage Lenders ..................

Halifax forces borrowers to open current accounts (13-05-08) - From today, the UK’s biggest mortgage lender will force borrowers with small deposits to open a current account before they can get a mortgage ..................

Factory gate inflation rises at record rate (12-05-08) - The price of goods leaving British factories has soared to the highest point in 22 years according to statistics released today ..................

Credit Crunch will Erase North/South Divide (09-05-08) - A significant by-product of the credit crunch will be the gradual eradication of the north/south growth divide in the UK ..................

Free Banking Set to End as Banks Raise Fees (08-05-08) - Two major high street banking groups have announced OFT test case induced fee increases..................

Icesave Ignite Savings War (07-05-08) - Icelandic savings specialists Icesave have blown the savings market wide open with their new fixed rate account....................

Family Food Basket up £15 a Week (06-05-08) - Against a backdrop of rising energy prices, credit shortages and a flat housing market, the average weekly shopping bill has taken a turn for the worst....................

Parents Borrowing from Children to Ease Retirement (02-05-08) - A social role-reversal is taking place, as inter-family lending culture gets skewed by the credit crunch...................

Northern Rock Shed 2000 Staff (01-05-08) - Nationalised high street lender Northern Rock announced plans to shed a third of its operating staff today..................

Banks Take Less Blame for Online Crime (30-04-08) - A significant outcome from the OFT test case could be the level of liability banks are prepared to accept for online identity theft..................

ISA sales down in 2008 (29-04-08) - ISA sales during the busiest period for this tax advantaged account were the lowest on record in 2008..................

OFT Triumph ‘The End of the Beginning' (28-04-08) - Those expecting instant refunds from their bank in the light of the OFT test case victory need to adjust their expectations.................

OFT Victory Sets Up Overdraft Investigation (25-04-08) - As anticipated, the OFT won the right to probe bank charges in the High Court yesterday................

Banks Already in ‘Defeat’ Mode (24-04-08) - With the High Court test case about overdraft charges due to conclude today, banks are bracing themselves for the biggest series of refunds in their history...............

Barclays ISA May Come Up Short (23-04-08) - Savers who signed up for the Barclays Tax Beater ISA in April of 2007 should check their statements carefully...............

Bank Charge Outcome this Thursday (22-04-08) - A ruling in the case of the OFT versus the big four banks over unfair overdraft fees will be received on Thursday 24th April................

Cash Back in Fashion (21-04-08) - According to a survey by the British Retail Consortium (BRC), cash payments have made a significant increase among consumers................

Cash Payment Savings Destroyed by ‘Needless’ Taxes (18-04-08) - Consumers who make savings by paying in cash are having the benefits wiped out by ‘needless’ taxes, according to a new survey...............

IVAs to Double in 2008 (17-04-08) - The number of people entering into Individual Voluntary Arrangements (IVAs) is estimated to reach 800,000 this year..............

Gone Phishing: Bank Scams Up 300% (16-04-08) - Cases involving an attempt by fraudsters to nefariously obtain people’s bank details tripled in the first three months of 2008.............

Card Rates Rise despite Interest Cuts (15-04-08) - A reduction in the base interest rate has not been passed on to credit card holders, according to new research.............

Darling gets Bullish with Banks (14-04-08) - Chancellor Alistair Darling has urged banks to pass interest rate cuts onto customers.............

Bank Details For Sale at less than Five Pounds (11-04-08) - Stolen financial data containing the account and sort code numbers of UK residents changes hands for only £5 in online crime portals.............

OFT has Stern Words for Debt Collectors (10-04-08) - The Office of Fair Trading has issued warnings to 13 debt collection and lending agencies.............

First Time Buyers Get Government Support (09-04-08) - In a bid to liven up the depressed housing market, the Government have announced new measures to encourage first time buyers and key workers to set foot on the property ladder............

HSBC does a HMRC (08-04-08) - HSBC took a leaf out of Her Majesty’s Revenue and Customs' book yesterday when they admitted to losing a disc containing details of over 370,000 clients...........

Halifax Pile Extra Pressure on Mortgage Holders (07-04-08) - Halifax, one of the UK’s biggest lenders, will raise mortgage rates and alter its mortgage acceptance policy today...........

Bank of England Predicts Further Financial Constraints (04-04-08) - A survey conducted by the Bank of England suggests worsening credit conditions are set to intensify over the coming months...........

First Direct Prompts Further Mortgage Withdrawals (03-04-08) - A glut of high street lenders have followed First Direct and withdrawn their most competitive mortgage products..........

First of the Big Banks pull Mortgages (02-04-08) - First Direct, the internet banking arm of HSBC, called a halt to new mortgage lending yesterday as the global credit crunch took a firm stranglehold on the UK housing market..........

Former Rock Boss Receives Payout as Mortgage Holders Become ‘Orphans' (01-04-08) - Ex-Northern Rock Chief Adam Applegarth received a £750,000 severance it was revealed yesterday, just as the beleaguered bank announced that 60% of all mortgage borrowers would be encouraged to leave this year..........

‘Sympathetic’ Banking Code Introduced (31-03-08) - A new voluntary banking code will be introduced from today, with an added directive for banks to help and advise those tumbling into debt..........

A Penny for Your Thoughts? Not Anymore (28-03-08) - With the credit crunch forcing banks to withdraw free services and increase mortgage rates, it’s now the humble 1p and 2p coins that could become the next victims of this financial lull..........

Cost of Living Hits Families Hard (27-03-08) - According to research commissioned by a leading UK supermarket, families are £30 a month worse off than they were this time last year..........

Skating on thin ISA (26-03-08) - With the April 5th deadline looming, the door is closing for those wishing to top up their cash and share ISAs.........

Small Building Societies Stop Lending (25-03-08) - The repercussions of the credit crunch have resulted in smaller building societies having to turn mortgage applicants away........

New ISA rules confirmed (20-03-08) - April 6th will see a change in the way ISAs will be managed........

Top Anti-Fraud tips Revealed (19-03-08) - News service Reuters-UK has compiled a list of guidelines to prevent UK consumers from becoming victims of fraud.......

Worried Homeowners Seeking Debt Advice (18-03-08) - The Citizens Advice Bureaux has reported a 35% increase in mortgage debt enquiries in the period between January 2007 and February 2008.......

Overseas card fraud up 77% (17-03-08) - Chip and PIN has defeated face to face fraud in the UK, but overseas fraud has risen by 77% since 2006...........

National Savings Scheme Revealed (14-03-08) - An innovative national savings scheme for low income earners will be launched across the UK from 2010, Chancellor Alistair Darling has announced in the Budget............

Darling Gets Tough on Environmental Issues (12-03-08) - Chancellor of the Exchequer Alistair Darling announced his first Budget today, with owners of high polluting vehicles and those partial to a drink or two hit hardest.............

UK Debts are Eating into Salaries (10-03-08) - According to a survey undertaken by an independent financial advice site, it takes most Britons over two months’ worth of salary to pay off amassed yearly debts............

Credit Crunch Suits Savers but Mauls Mortgage Holders (07-03-08) - Savers continue to profit from the credit crunch, but mortgage borrowers are being hit were it hurts: in the pocket.............

Mortgage Squeeze Takes Hold (06-03-08) - With the end of so called ‘125% Mortgages’, and introduction of strict deposit criteria, first time buyers face their toughest challenge yet when trying to get a foot on the property ladder............

HSBC bracing itself for another hit (05-03-08) - Having revealed details of writedowns amounting to over £8 billion just days ago, the HSBC bank said it could take a further £300 million hit should it taste defeat in the OFT ‘fair charges’ test case...........

Government Set to Fund Free Money Advice Scheme (04-03-08) - A government commissioned report will strongly urge finance ministers to organise a free national advice service to help consumers with money matters...........

Profits Boom but Writedowns Soar at HSBC (03-03-08) - HSBC has reported a mixed year, as worldwide profits showed a 10% increase, but the writedown on bad debts and other credit losses totalled $17.2 billion..........

Egg Refuses to Crack (29-02-08) - Despite an attempted intervention by Labour MP Nigel Griffiths, Egg has refused to back down over the current card cancellation row.........

RBS Bucks Profit Trend (28-02-08) - Despite Lloyds TSB, Alliance and Leicester and HBOS having their profits negatively affected by last year’s credit crunch, The RBS/Natwest group have weighed in with a 9% increase in pre-tax profits..........

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