In order to address the deteriorating economic conditions felt here in the UK, as in much of the developed world, the Bank of England is now likely to vote on more quantitative easing
Contributions to personal pensions have dropped 15% in 2 years as a result of the recession and current downturn, figures from the Office for National Statistics show.
Any move to ring-fence the UK banks' High Street operations from investment banking divisions would result in a 0.3% decrease in economic growth according to the Ernst & Young Item Club report.
Goldman Sachs (NYSE: GS) is facing enforcement action by the US Federal Reserve Bank to address ‘a pattern of misconduct and negligence’ in its former subsidiary, Litton Loan Servicing LP.
Credit scarcity and falling consumer spend risk a surge in missed invoice payments, threatening UK businesses.
Private Finance Initiatives as a means of delivering infrastructure projects appear to deliver better value for private sector contractors than for the taxpayer, the Commons Public Accounts Committee stated this morning in its report into the controversial contracts.
Chancellor George Osborne’s plan to tax the accounts of UK taxpayers held in Swiss banks, announced last week, was widely met with praise.
Bank customers should be granted full access to their accounts via the Post Office network, a consumer group has said.
Bank lending to individuals rose by £900 million in July- less than the half year average of £1.2 billion a month, the Bank of England’s latest figures show.
Corporate losses have increased across the world in the wake of the global economic downturn, and part of this surge may be a deliberate use of loop-holes and ‘aggressive tax planning’, Paris-based economic institution, the Organisation for Economic Cooperation and Development have said.