Loans and Finance

Loans and Finance


News and information about loans, money, debt, finance and business issues.

Tuesday, January 16, 2018

Beware The Forthcoming Dead Cat Bounce of Bitcoin

Monday, January 15, 2018

Carillion Liquidation

It beggars belief that a company with so many lucrative government contracts can so totally screw its finances up.

Let us trust and assume that the shareholders nail the board to the floor for this disgrace!

Friday, December 22, 2017

The Downside of Bitcoin - Trying To Covert It To Real Cash

The Great Crypto Crash!

Wednesday, December 20, 2017

Bitcoin Explained

Markets are driven by fear and greed.

Hence Bitcoin will be a roller-coaster, and is not for the faint-hearted!

Friday, December 15, 2017

The City Takes a Break

Wednesday, December 13, 2017

October Unemployment 4.3% - Lowest Since 1975

Monday, December 11, 2017

Labour's Tokenistic Gesture To Move The Bank of England To Birmingham

Seemingly Labour is considering relocating most of the Bank of England (The Old lady of Threadneedle Street) to Birmingham if it wins power at the next general election.

The FT reports that consultants commissioned by John McDonnell, the shadow chancellor, have concluded that the central bank’s base in Threadneedle Street is “unsatisfactory and leads to the regions being underweighted in policy decisions.”

They have recommended moving “some functions” to Birmingham, to be located “next door or close to” the National Investment Bank and Strategic Investment Board, organisations that Labour plans to create on entering government. Labour’s policy review will include whether the governor should also be based in Birmingham.

“All three, side-by-side, would constitute a new ‘economic policy’ hub,” said an interim report by consultants GFC Economics and Clearpoint Corporation Management. The report suggested moving the BoE’s premises “close to” Birmingham’s main train station, saying a relocation would “provide a clear, visible example of a new government’s determination to promote growth and a rebalancing of the economy”.

Well this is all very well and tokenistic. However, given that McDonnell's first act (if Labour gain power) would be to take over the Bank and remove its independence, moving it away from its main stakeholders (ie the Labour government) seems a tad stupid.

Whilst we are on the subject, given that Unite's head office is in Holborn, whilst Unison, TSSA and the RMT are all headquartered in Euston; will Labour ask them to relocate as well?

Friday, December 01, 2017

RBS/NatWest Closing 259 Branches

Wednesday, November 29, 2017

Xavier Rolet Falls On His Sword

The Telegraph reports that outgoing London Stock Exchange chief executive Xavier Rolet is to step down “with immediate effect” after a furious row between the company’s board and one of its shareholders over his departure.

Mr Rolet had been due to remain in his job until December 2018 but today said he had agreed to leave straight away, just one day after Bank of England Governor Mark Carney indicated that he did not back calls by one of the LSE’s biggest investors for him to stay on until 2021.

"We can’t envisage a situation where a CEO stays beyond the agreed period," Mr Carney said at a conference on yesterday, adding that he was “mystified” by the row.

The news follows weeks of acrimony between the board and Sir Christopher Hohn, founder of the Children’s Investment Fund (TCI), who accused the LSE’s chairman Donald Brydon of forcing Mr Rolet out against his will.

Mr Rolet said he was leaving amid “a great deal of unwelcome publicity” and would not be returning to the board or the job “under any circumstances”.

I will leave the final word to Francis Urquhart:

"Even the longest, the most glittering reign must come to an end someday."

Tuesday, November 28, 2017

London Property Market Booming - Or Is It?

The Telegraph reports that London house prices are now 14.5 times the earnings of an average Londoner, according to Hometrack, hitting the highest level on record.

This is up from last year's high of 14 times average income, despite house price growth having slumped in London over the last 12 months. This year's level is 42% higher than the long-term average over the last 15 years.

The question is, how are people paying for these?

-Excess mortgages
-Non resident investors

Tuesday, November 21, 2017

NatWest Online Banking Problems - Update

NatWest Online Banking Down

Natwest online banking appears to be experiencing technical problems this morning, with customers reporting that the login page is slow to load or doesn't load at all.

Thus far mobile banking appears to be working.

Wednesday, November 15, 2017

Unemployment Falls By 59,000

The ONS reports that the rate of unemployment for July to September 2017 fell. There were 59,000 fewer unemployed than for April to June 2017 and 182,000 fewer than for a year earlier.

The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.3%, down from 4.8% for a year earlier and the joint lowest since 1975.

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.2% both including and excluding bonuses, compared with a year earlier.

Friday, November 10, 2017

National Savings Rates Increased By 0.25%