Banking News
Lloyds TSB: MPC rate decision
Trevor Williams, chief economist Lloyds TSB Corporate Markets comments on the MPC decision: "This decision must have been one of the toughest the Monetary Policy Committee (MPC) has faced for a while.
UK interest rates cut to 5.0%
The Bank of England's Monetary Policy Committee today voted to cut interest rates by 0.25 percentage points to 5.0%.
Turbulent times force financial services to rethink strategy
Unpredictable and unstable markets will see more financial services companies experiencing benefits by outsourcing their systems or services during 2008, predicts Newcastle Building Society.
Barclays stockbrokers predicts the MPC will cut rates
Speculating on Thursday’s MPC interest rate decision, Henk Potts, Equity Strategist at Barclays Stockbrokers said: “Pressure has been building and building on the Bank of England to reduce interest rates as the economic picture deteriorates and property prices fall.
NAEA calls on Bank of England to reduce interest rates
The National Association of Estate Agents (NAEA) is calling on the Bank of England to act to stabilise the housing market.
HSBC loses disc with 370,000 customer details
Commenting on the loss of 370,000 customer details by banking giant HSBC, Kevin Mountford, head of savings at price comparison site moneysupermarket.com, said: “For a bank that prides itself on first class service this is unforgivable
Another financial advice acquisition for The Skipton Group
The Skipton Building Society Group has announced that it has acquired a 75% shareholding in Thomson Shepherd Ltd, the Scottish based IFA (which trades as Coggans Wood in Edinburgh).
Treasury faces major challenge in meeting fiscal rules
The Treasury Committee, in its Report on the 2008 Budget, cautions that the Treasury may have given insufficient weight to the risks of continued financial market turbulence in making its forecasts for economic growth.
Zopa most threatening non-bank competitor
Zopa beats PayPal, Wal-Mart, Vodafone and Prosper as the biggest threat to banks across the world
Overwhelming member support coincides with record savings inflows
Leeds Building Society, the UK’s 7th largest building society, held its Annual General Meeting in Leeds earlier today. Members voted overwhelmingly for the re-election of Chief Executive, Ian Ward, and Non-Executive Director, Ian Marshall.
Consumers could claim up to £48,000 after FSCS steps in
Consumers can claim compensation of up to £48,000 if they have lost money as a result of their dealings with any one of 35 firms that the Financial Services Compensation Scheme (FSCS) has recently declared in default.
Lending to individuals up in February
The increase in total net lending to individuals in February (£9.8 billion) was above the increase in January and the previous six-month average, according to figures from the Bank of England (BoE).
Consumers are squeezed from all sides
As the purse strings tighten and the credit crunch takes hold, Callcredit Check is advising consumers to take a good look at their finances.
Yorkshire says it’s time to make a mark
Yorkshire Building Society is urging its members – that is its savers and borrowers – to have a say in how the financial business is run.
Shaping the future
Members of Britannia Building Society can help shape its future by casting their vote at the Society's Annual General Meeting (AGM).