Payday lenders target vulnerable over Christmas.
Funding fails to reach first-time buyers
Figures from the the Council of Mortgage Lenders, show that mortgage lending plunged by almost 20 per cent in September as first-time buyers struggled to get on the property ladder
Surveys reveal housing sector activity boost
The UK’S ailing housing sector has begun to show signs of life, according to two widely-regarded reports released yesterday and this morning.
City AM London, p. 11
Also appeared in : Daily Express, p.44, City AM London, p.11, The Times, p.40, The Daily Telegraph Business, p.3
HBOS warned of growth danger years before crash
The board of HBOS was told four years before the bank’s collapse that the City watchdog viewed its growth strategy as “an accident waiting to happen”, according to evidence put before the Parliamentary Commission on Banking Standards yesterday.
The Times, p. 41
Also appeared in : The Independent, p.52, The Daily Telegraph Business, p.3
Rule on trader and not the industry, says judge
The jury in the trial of the alleged “rogue trader” Kweku Adoboli accused of losing UBS $2.3 billion has been told it should not acquit him because of any dislike of banking.
The Times, p. 37
Also appeared in : City AM London, p.3
Stop trashing the banks, warns PM
The Prime Minister has issued his strongest defence of the finance industry since the economic crisis, claiming those who ‘trash the banks would end up trashing Britain’. The Prime Minister used his annual speech at the Lord Mayor’s Banquet – traditionally used to discuss foreign policy – to instead deliver a warning that Britain is in a battle to survive as a major economy in the wake of the financial crisis.
Daily Mail, p. 2
Also appeared in : The Sun, p.2
Vickers says Bank reforms were too tough
Sir John Vickers yesterday acknowledged his widely welcomed banking reforms were too heavy handed, hurting banks unnecessarily in some areas, including on capital levels.
City AM London, p. 5
Also appeared in : Daily Mail, p.66
Short-term benefits should not disguise the damaging side effects of QE
The Bank of England may have recently decided to call a halt on the expansion of its quantitive easing (QE) programme. But the debate over the costs and benefits of QE continues. A full £375bn has already been injected into the UK financial system, and it’s still possible that more might follow.
City AM London, p. 22
Spain’s Banco Popular sees its shares rise after capital increase
Banco Popular shares rose after Spain’s sixth biggest bank secured a 2.5bn (£2bn) capital increase, averting the need to seek state aid.
City AM London, p. 5
Payday lenders target vulnerable over Christmas
Aggressive payday lenders are planning to cash in on the vulnerable this Christmas by encouraging them to take out expensive short-term credit. An Independent investigation has discovered a whole host of unscrupulous lenders which are already encouraging people to make it the season of “spend, spend, spend”.
The Independent, p. 6
Chinese banks rein in their lending
Chinese banks made fewer local currency loans in October than expected, while total financing in the economy expanded more slowly than in September, data released Monday showed, suggesting that Beijing might need to do more to ensure that policy was loose enough to promote growth.
International Herald Tribune, p. 20
The above articles appeared on 13\11\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.