Northern Rock Asset Management (NRAM), the so-called bad bank, has today reported it has returned to profit.
The crisis-torn bank, which was the first victim of the credit crunch, said pre-tax profit for the first six months to the end of June were £349.7 million, compared with a loss of £724.2 million...
Posted to
Finance
on 08-03-2010
Filed under: All Financial News, Economy News, Banking News, credit crunch, HSBC, profit, bad bank, good bank, two, split, divisions, nationalised, Northern Rock Asset Management, NRAM
Swiss banking giant UBS has today reported a net profit of SwFr2.0 billion (£1.2 billion, $1.9 billion) for the April to June period – exceeding analysts’ expectations. The news will be welcomed by many investors after the bank was among one of the worst hit victims of the credit crunch due...
Posted to
Finance
on 07-27-2010
Filed under: UBS, All Financial News, Banking News, credit crunch, profit, expectations, sub-prime, exceed, second quarter, exposure, Credit Suisse
The era of debt-fuelled consumer spending is over, a financial expert has claimed, pointing out Britain’s consumer debts of nearly £1.5 trillion.
Tim Moss, head of loans at moneysupermarket.com, seemed to be talking himself out of a job by claiming consumers can no longer afford to fund purchases...
Posted to
Finance
on 07-14-2010
Filed under: All Financial News, Economy News, UK, credit crunch, Credit Card News, Debt News, moneysupermarket.com, consumerism, Loan News
The Office for Budget responsibility publishes its first economic forecast today. They provide unprecedentedly detailed forecasts for the next five years - we have never seen these before • Get the data The Office for Budget Responsibility (OBR) has only existed since May - but already it has caused...
Posted to
Economics
on 06-14-2010
Filed under: Politics, Economic policy, Blogposts, guardian.co.uk, Economics, Recession, Credit crunch, Budget, George Osborne, Economic growth (GDP), Technology