Northern Rock admitted one in 10 repossessions in the UK last year were from its books as it posted losses of 1.3bn for 2008. Up to 8,500 of its Together borrowers are in arrears and almost 3,000 were repossessed.
By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]
The pension industry is changing rapidly, supported by this government’s development of the pension dashboard, the introduction of collective defined contribution pension schemes and a consultation on the regulation of defined benefit superfunds. We are unleashing innovation and opening up options for pension schemes members and employers. These reforms will bring the pension industry into the […]
The Money Advice Service aims to launch a prototype version of a drawdown comparison tool aimed at non-advised, mainstream customers in spring next year. The guidance body’s senior policy manager Teresa Fritz shared details about the tool that is being designed in collaboration with the Association of British Insurers. Speaking at a Westminster Business Forum […]
Trade tensions and Brexit are concerns ahead of 2019 European equity markets have had a tough year. The economy has failed to live up to the expectations at the start of the year that European growth would be fuelled by easy financial conditions and falling unemployment. Regional business confidence surveys have fallen steadily since January. […]