Beleaguered fund management group New Star Asset Management is locked in talks with its lenders over the group's £230m of debt after its shares fell back to an all-time low.
The situation has raised fears that investors may look for a quick exit from New Star funds. Already assets under management at [...]
It will be the first long-haul scheduled budget service from the British capital since Sir Freddie Laker's Skytrain to New York in the Seventies.
AirAsia X, backed by Virgin boss Sir Richard Branson, starts taking bookings this afternoon for the five-timesaweek direct flight from Stansted to the Malaysian capital. It could slash the cost of [...]
The historic two percentage point cut in interest rates over the past two months means that monthly mortgage repayments have plummeted for some lucky borrowers.
But while the extra cash may come in handy for cash-strapped households, brokers are urging borrowers to maintain their precut payment levels, overpaying on the mortgage to reduce the overall [...]
That is double the number of people who have already lost their jobs since the financial crisis led to frozen credit markets.
Banks are slashing back staff numbers around the world amid trillions of dollars in losses.
Executive search firm CTPartners says the job losses will amount to some 20% of the global workforce before the [...]
A new report has warned investors considering opting for a with-profits policy to avoid them like the plague.
An estimated 25m people, or 42% of the UK's population, have with-profits policies worth a massive £400bn, for their pension, savings or as a mortgage endowment.
But people with new money to invest should avoid these [...]
A study reveals the stores have imposed alarming price increases on staple foods, despite advertising discounts on popular items.
The annual rate of increase in the cost of a typical shopping basket leapt to 21.3% in November - adding more than £1,100 a year to family grocery bills.
Yesterday the Liberal Democrats said supermarkets had 'no [...]
According to research from pension provider Axa, one in 12 feel they will be left with little choice but to take a pension 'holiday' in the next two years, with 35 to 44 year olds the most likely to slash their contributions.
But the insurer warns that up to £35bn could be lost from [...]
Interest rates were slashed to 3% on Thursday, their lowest level in more than half a century.
However, first-time buyers and remortgaging borrowers hoping for a reprieve in rates have been left disappointed.
Though existing borrowers with tracker loans will benefit, the shock base rate cut on Thursday has meant virtually all trackers have been withdrawn [...]
The Prime Minister and Chancellor spoke out after a series of rate cuts had not been passed on to borrowers by High Street lenders.
The frustration had become too much after a multi-billion pound bail-out failed to pull the banks into line with Government policy to loosen their purse strings.
But while major lenders reluctantly reflected [...]
On the day after Diwali, India's explosive annual festival of light, burnt out fireworks litter Mumbai's busy pavements.
But while the excitement of the day before has died down, the heat is still on one standout business in the city's burgeoning financial district, ICICI bank, which has spent a substantial time [...]
© 2008 Daily Financial News