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All the share windfalls are looking distinctly bruised, if not rotten to the core.
In all, six building societies converted to banks, giving shares to their members. Not one of them has survived intact.
Those who sold all these windfall packages at their height would have pocketed £16,625. Today [...]
He announced yesterday that he intends to raise the Treasury's guarantee to savers that their money is safe from the current £35,000 to £50,000.
But the Prime Minister is considering going much further and issuing a blanket guarantee to savers that all their money would be protected in the event of their bank failing. Such [...]
Three building societies have also shut up shop. In this not so brave new world there will be less choice for both borrowers and savers. Here, we examine the profound effect the banking crisis is having on all our personal finances.
Homeowners
Property owners are at the sharp end of the credit squeeze. The number [...]
This should be of particular concern to savers here, as Iceland's two remaining big banks, Landsbanki and Kaupthing Edge, are also two of the UK's most popular foreign banks and are showing signs of weakness.
A complex indicator of bank stability, credit default swap rates (CDSs), signify both Kaupthing and Landsbanki [...]
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City of Industry, CA --(www.FinancialNewsUSA.com)-- 10/01/2008 - Consumer Goods industry news provided by Financial News USA (OTC: FNWU). Mariner's Choice International, Inc. (Pink Sheets: MCII), a provider of high-performance and eco-safe recreational and industrial solutions to the marine industry, recently [...]
Millions of pension savers who 'contracted out' and ended up with money tied up in 'protected rights' will be able to move them to a personally chosen and hopefully better performing investment.
From tomorrow (October 1) those who have 'protected rights' can benefit from new rules which will allow them to switch their pot into [...]
This follows an increase in the level of Irish compensation from €20,000 to €100,000 (£80,000) last week and makes the savings of Anglo-Irish Bank, Bank of Ireland and Post Office customers here in the UK some of the most protected across the EU.
The 100% guarantee came in at midnight last [...]
Traders were betting millions of pounds that the Lloyds TSB deal to save Britain's biggest mortgage lender, owner of the Halifax, was at risk of falling apart.
At one point HBOS shares were down by more than 20%. They closed down 19.6p at a record low of 122.4p.
A failure to secure the deal would [...]
© 2008 Daily Financial News