UK Finance News

Reports in this weekends press suggest that only around 10% of HBOS shareholders participated in the banks rights issue to raise £4billion.
Experts are concerned that the take up may be so bad that it will leave underwriters Morgan Stanley & Dresdner with as much as £3.6bn worth of the banks stock.
HBOS had hoped to rally [...]

[Read more →]

London’s FTSE 100 index slid into ‘bear market’ territory amid fears that the UK economy could fall into recession.
Speculation that two US mortgage providers might have to raise fresh capital and make further write-downs prompted a ’sell off’ on Wall Street, making things very uncomfortable for a host of financial stocks on the UK market.
Richard Hunter, head [...]

[Read more →]

A staggering £13.2bn has been paid out in bonuses to City workers so far this year, down just 1% on the same stage last year, suggesting that the credit crunch has yet to hit the pockets of bankers.
The figures will infuriate the general public, currently caught in the aftermath of the diabolical greed and extraordinary [...]

[Read more →]

Figures from the Office for National Statistics show growth in the Finance and Business Sector -.’The City’ - to be just 0.4 per cent for the first quarter of 2008.
The City is responsible for over 30% of UK output and has brought the whole economy to its own level  - a far cry from Alistair Darling’s budget [...]

[Read more →]

The big high street banks and one building society have lost their test case against the OFT over bank charges.
As noted on UK Finance News, the case has revolved around whether the OFT has the right to rule on overdraft charges - not necessarily whether the charges themselves are fair - although the implication is [...]

[Read more →]