Pensioners’ investment income in 20-year slide Pensioners have suffered a dramatic fall in their investment income in the past 20 years, with levels dropping almost to where they were in 1977, Office for National Statistics figures have shown. The Daily Telegraph Business, p. 3 The above article appeared on 24\10\12 reproduced with the kind permission of […]
Monthly Archives: October 2012
Whose fault is it if you can never afford to retire? Figures released yesterday show that there are 1.5 million over-65s still working – a number which has doubled in the past decade. Forty per cent of them, in a survey for NFU Mutual Insurance, feared never having enough money to retire. Daily Express, p. 12 […]
Eurozone debt to GDP ratio edged up to 87.3% from 87.2% last month. Across the whole of the EU the ratio is 82.5% whilst the country with the lowest ratio is Estonia at 6.1%. Greece’s ratio stands at 170.6%. As a trend northern European countries have mainly fared better than their southern European counterparts.
Financial crisis sees over 50s lose thousands The financial crisis has knocked 10pc off the average wealth of Britons aged 50 and over, according to figures released this morning by the Institute for Fiscal Studies (IFS). Meanwhile, the Chartered Institute of Personnel and Development (CIPD) said that “increasing pensions costs” has moved into the top […]
Caterpillar ($85.08) the world’s largest maker of construction machinery cut its 2012 forecast for the second time this year as they warned that the global economy is slowing faster than expected. Caterpillar’s retail dealers are selling off inventories, which has caused the company to shutdown some plants temporarily. The firm does not expect the global economy […]
We are on the same page, Japanese banker tells West A senior Japanese policymaker has denied accusations that its central bank has done too little to battle the country’s woes, saying that it was “exactly the same” as its Western counterparts in taking aggressive action to support the economy. The Times, p. 37 Loosening purse strings Three […]
Big banks reject 53 appeals for crucial loans every hour High Street banks turned down a £1.3bn of overdraft and loan applications from small and medium-sized firms in the first quarter of this year – equivalent to rejecting 53 applications an hour. Analysis of industry data by challenger bank Cambridge & Counties, which lends to […]
Millions affected after cyber attack on HSBC HSBC”s websites across the world have been hit by one of the largest cyber attacks on a bank that left millions of customers without access to casino online online services. The Daily Telegraph, p. 35 Which are worse: banks or energy companies? Barclays and Santander have joined Ryanair in the […]
Leaked legal opinion shows that politicians have been told that proposals for a single bank regulator go beyond the powers of the ECB’s governance structures and would require an EU treaty change to enact. The Daily Telegraph 18/10/12.
As borrowing costs dropped ahead of today’s EU Summit, Francoise Hollande claimed that European leaders are close to ending the debt crisis. He said that leaders made the right decisions at the June summit, including planning the banking union and that it was now “their duty to apply them quickly” The Daily Telegraph 18/10/12. Also […]