News and comment
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Welcome to your on-line financial newsletter. This service is regularly updated to bring you news of important developments in financial matters.
Citywire Investment News
- US Government takes control of $5 trillion crisis-hit mortgage giants
Mon, 08 Sep 2008 00:01:00 GMT
The US Government is to take control of Freddie Mae and Fannie Mac, the two institutions responsible for half of the nation's mortgage market.
- The Daily Interview:Eclectica's Hendry-steer clear of financials for 20 years
Mon, 08 Sep 2008 00:01:00 GMT
Electica?s Hugh Hendry remains zero-weighted to financial stocks across all three of his funds as he believes the sector has just come to the end of a twenty year super cycle.
- SocGen plans launch of two emerging market funds
Mon, 08 Sep 2008 00:01:00 GMT
Société Générale is tapping further into the emerging market and frontier sectors with the launch of two new funds in its SGAM Ucits III fund range.
- Nationwide confirms Cheshire, Derbyshire takeover plan
Mon, 08 Sep 2008 00:01:00 GMT
Nationwide is emerging as a winner from the credit crunch announcing that it is swooping on smaller rivals Cheshire Building Society and Derbyshire Building Society
- Bob Micheals to leave Schroders for JPMorgan
Mon, 08 Sep 2008 00:01:00 GMT
Veteran fixed income manager Bob Michele hands fund over to Nick Garside.
BBC Business News
- One in four 'facing fuel poverty'
Mon, 08 Sep 2008 00:20:35 GMT
Almost a quarter of the population will be pushed into fuel poverty by the end of next year as prices rise, a report suggests.
- US takes over key mortgage firms
Sun, 07 Sep 2008 20:42:56 GMT
President Bush says the US is taking over two mortgage giants because they posed "an unacceptable risk" to the economy.
- Tax rich at higher rate, says TUC
Sun, 07 Sep 2008 16:41:44 GMT
People earning more than 100,000 a year should pay higher tax rates, the Trades Union Congress says.
- Nationwide in talks over mergers
Sun, 07 Sep 2008 16:29:35 GMT
The Nationwide Building Society is in merger talks with two smaller rivals, the Derbyshire and Cheshire Building Societies.
- US Boeing workers strike over pay
Sun, 07 Sep 2008 10:02:52 GMT
Workers at the world's biggest aircraft manufacturer, Boeing, go on strike in the US.
Citywire News
- US Government takes control of $5 trillion crisis-hit mortgage giants
Mon, 08 Sep 2008 00:01:00 GMT
The US Government is to take control of Freddie Mae and Fannie Mac, the two institutions responsible for half of the nation's mortgage market.
- The Daily Interview:Eclectica's Hendry-steer clear of financials for 20 years
Mon, 08 Sep 2008 00:01:00 GMT
Electica?s Hugh Hendry remains zero-weighted to financial stocks across all three of his funds as he believes the sector has just come to the end of a twenty year super cycle.
- Nationwide confirms Cheshire, Derbyshire takeover plan
Mon, 08 Sep 2008 00:01:00 GMT
Nationwide is emerging as a winner from the credit crunch announcing that it is swooping on smaller rivals Cheshire Building Society and Derbyshire Building Society
- Hard facts put mortgage market into perspective
Mon, 08 Sep 2008 00:01:00 GMT
The gap between perception and reality is delaying a mortgage market revival. Much depends on repairing first-time buyers? confidence.
- Sunday Papers: US Treasury to announce rescue of Fannie Freddie -- other news
Sun, 07 Sep 2008 10:55:00 GMT
HBOS chief Andy Hornby warns economic squeeze would continue until house prices in US recover in 2010.
London Stock Exchange News
- US unemployment figures 'reach five-year high'
Fri, 05 Sep 2008 05:49:06 +0100
Unexpected job cuts in the US have led to a five-year high in unemployment rates, according to new figures.
- Regional office property offers 'advantages'
Fri, 05 Sep 2008 05:36:00 +0100
Regional property offices outside the south-east and London are experiencing higher yields and more stable occupancy rates, a study has revealed.
- Pensions advice cost 'justified'
Fri, 05 Sep 2008 05:33:19 +0100
The cost involved in seeking pension advice when considering switching schemes is wholly justified for the projected benefits, one expert has claimed.
- Adults still borrowing from bank of mum and dad
Fri, 05 Sep 2008 05:30:22 +0100
Parents spend around £233 billion supporting their children's financial goals and often pass over their own aspirations to do so, research has suggested.
- Bank stocks slide as interest rates held
Fri, 05 Sep 2008 05:28:32 +0100
As the Bank of England revealed that interest rates remain unchanged, bank stocks slid and contributed to a 2.5 per cent drop felt in the FTSE 100.
Mortgage News
- Accord scraps products within 24 hours
Fri, 5 Sep 2008 17:39:43 GMT
Accord has pulled its prime existing borrower transfer range within 24 hours of it launching, blaming unforeseen circumstances.
- GMAC cuts 5,000 jobs in USA
Fri, 5 Sep 2008 16:05:38 GMT
GMAC, parent company of GMAC-RFC, is cutting 5,000 jobs from its ResCap business and closing 200 branches in the US.
- Harpenden chairman retires
Fri, 5 Sep 2008 15:54:53 GMT
Roger Smith, chairman of Harpenden has retired, with vice chairman Michael Willis taking his place at the mutual.
- Trigold to hold training days
Fri, 5 Sep 2008 14:12:20 GMT
Trigold is embarking on six new dates for its broker Business Academy events.
- RBSIP launches new rates
Fri, 5 Sep 2008 11:21:09 GMT
RBS Intermediary Partners is rolling out rates on a number of its fixed rate and tracker mortgages from September 6.
BBC News
- One in four 'facing fuel poverty'
Mon, 08 Sep 2008 00:20:35 GMT
Almost a quarter of the population will be pushed into fuel poverty by the end of next year as prices rise, a report suggests.
- Key wins for Hong Kong opposition
Mon, 08 Sep 2008 00:18:27 GMT
Hong Kong's pro-democracy camp wins enough seats in legislative elections to retain key powers of veto, say reports.
- Wind farm eagles teach their chicks to fly
Sun, 07 Sep 2008 23:45:12 GMT
A pair of golden eagles nesting in Argyll have reared two chicks for the first time since 46 wind turbines were built nearby.
- Call at TUC for public pay strike
Sun, 07 Sep 2008 23:22:04 GMT
Unions are urged to call a public sector-wide strike over the government's pay policy.
- Flood fears ease as rains lighten
Sun, 07 Sep 2008 22:40:44 GMT
Flood fears are easing as showers replace persistent rain across England and Wales and river levels stabilise.
