Loans and Finance

Loans and Finance


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

Wednesday, July 19, 2017

Card Surcharges To Be Banned

As from January next year, businesses will not be allowed to add any surcharges for card payments.

This follows a directive from the European Union, which bans surcharges on Visa and Mastercard payments.

However, the government has gone further than the directive, by also banning charges on American Express and Paypal too.

This covers all companies and organisations that add a surcharge, including HMRC!

You can bet your bottom dollar that companies will find another way to pass on the charges.

Tuesday, July 18, 2017

Inflation Falls To 2.6%

The ONS reports that the Consumer Prices Index (CPI) 12-month rate was 2.6% in June 2017, down from 2.9% in May 2017.

This is the first fall in the CPIH inflation rate since April 2016, and was caused primarily by falling prices for motor fuels and certain recreational and cultural goods and services.

This means that there will be no increase in interest rates in the foreseeable future.

Tuesday, July 11, 2017

Piss Pathetic Pensions

Monday, July 10, 2017

Bank of England Wants People To Sniff Out Regulation Busting

G20 Minus 1

The G20 is now the G19 as America has placed itself into isolation.

Monday, July 03, 2017

Bank of England To Go On Strike

Does this mean that all debts held during this period will be interest free?

Thursday, June 29, 2017

George "Six Jobs" Osborne

Osborne doing his bit to maintain full employment.

Wednesday, June 28, 2017

Beware Zombie Pension Companies

A prescient warning in the Telegraph wrt pension schemes that might go bust:
"There are 10 million people in 6,000 “defined benefit” pension schemes in Britain. Most of them will get the pensions they expect in full – but not all.

If the companies behind these schemes are financially strong enough still to be in business when the pensions come to get paid, then all is well. However, around 1,000 schemes, possibly with as many as 1.7 million members, are in a very precarious position with financially weak companies behind them or large deficits - sometimes both.

Their members face a real and current risk that their companies will go bust. If this happens their scheme will almost certainly fall into the Pension Protection Fund (PPF). This will ensure that they still get a pension, but it will be lower, at around 90pc of what they were expecting."
A pension is meant to cover you from retirement through to death, which may be 30 years or so from the date of retirement.

How the hell can anyone predict what the world will look like 30 years from now?

Scary isn't it?

Tuesday, June 27, 2017

The ATM's Fiftieth Birthday

50 years ago today the world's first ATM was unveiled at a Barclays branch in Enfield, London.

Reg Varney, a celebrity of the time, made the first withdrawal.

EU Stiffs Google for 2.4bn Euros

The EU said Google had broken EU competition law by exploiting the power of its search engine to promote its online shopping service, at the expense of other price comparison sites.

Monday, June 26, 2017

Deutsche Bank Way Offbeam!

This analysis couldn't be more wrong wrt "paralysis", there will be black swans aplenty coming!

Thursday, June 22, 2017

LIBOR Funding

Tuesday, June 20, 2017

Carney's Cake and Consumption Doubts Nixes Rate Rise

The time is not right for an interest rate rise, Bank of England Governor Mark Carney has said.

Citing falling wage growth and Brexit uncertainty.
"Before long, we will all begin to find out the extent to which Brexit is a gentle stroll along a smooth path to a land of cake and consumption."
A wee barb there methinks!

Thursday, June 15, 2017

Wednesday, June 14, 2017

Unemployment Lowest Since 1975

As per the ONS the unemployment rate for people for the latest time period, February to April 2017, at 4.6%, was the joint lowest since 1975.

For February to April 2017:
  • the unemployment rate for people was 4.6%; it has not been lower since May to July 1975
  • the unemployment rate for men was 4.7%, it has not been lower since September to November 1975
  • the unemployment rate for women was 4.4%; it has not been lower since July to September 2005
For February to April 2017, there were:
  • 1.53 million unemployed people, 50,000 fewer than for November 2016 to January 2017 and 145,000 fewer than for a year earlier
  • 840,000 unemployed men, 26,000 fewer than for November 2016 to January 2017 and 58,000 fewer than for a year earlier
  • 690,000 unemployed women, 24,000 fewer than for November 2016 to January 2017 and 87,000 fewer than for a year earlier