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 [...]
Just weeks before Christmas, Aston Martin, Unilever and Halfords announced cuts to their workforces.
The losses will add to a growing tally as firms struggle in the worst economic downturn since the First World War.
Unemployment is at 1.8m, its highest level for 11 years. It is expected to rise to 3.3m by 2010.
Every day, about [...]
A 'significant and sustained' downturn in the economy has prompted the call from manufacturers, while struggling small businesses say that Chancellor Alistair Darling's Pre-Budget stimulus package does not go far enough.
The market is already anticipating another significant reduction in borrowing costs after last month's surprise 1.5 percentage point drop in the base rate.
City opinion [...]
The Chancellor's Pre-Budget Report included the expected inflationary rise in the State pension from £90.70 to £95.25 a week for a single person and from £145.05 to £152.30 for a couple, starting in April, but also a headline-grabbing £60 bonus to be paid to all pensioners in January on top of the usual [...]
John Duffield's struggling group said it was in 'advanced and constructive discussions' over its crippling £230m mountain of debt.
The request for shares to be suspended was made at the all-time low of just 14p this morning, having crashed 97% from a peak of 485p just 18 months ago. After the request was denied by [...]
Punitive increases announced by Chancellor Alistair Darling in his Pre-Budget Report last week will hit those earning more than £140,000 hardest.
From 2011, big cuts in personal allowances and an increase in the top rate to 45p will effectively push the rate of tax for those on £140,000 to 60p in the pound - the [...]
But Alistair Darling's mini-Budget came with a sting in the tail - higher National Insurance contributions and tax rises for the relatively well-off. Here, Financial Mail examines the impact of the Chancellor's action on families.
Cash-strapped families were given an early Christmas present from the Chancellor as he increased child benefit payments three [...]
'The speed of the drop in property values is unprecedented for this country, but when the market starts to pick up, the huge advantage that buyers currently have will be lost,' says James Greenwood, of Stacks Property Search & Acquisition.
He points buyers in search of a great deal towards new developments.
'With most developers in [...]
If this is permissible then what legalities are involved and would the seller or buyer be responsible for legal costs? Julie, Ascot, Berkshire
Louise Cuming, head of mortgage and protection services at Moneysupermarket.com, replies: This does seem a logical proposal, but unfortunately life, or certainly property conveyance, is not [...]
The gap between the Bank of England base rate and the interest charged on personal loans has leapt from less than three percentage points to more than five in the last two months.
Many customers will need loans to stay afloat in the present climate. Hundreds of thousands rely on personal loans to consolidate other [...]
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