Market Eye from Prest Financial The Bank of England held the official rate at 0.5% and has not extended Quantitative Easing. President Obama has been re-elected and the looming fiscal cliff problem is thus the same, with deadlock between the Democrat and Republican camps in Washington on how … [Read more...]
News for: Finance
Business lending expected to drop again
Bank lending to businesses in 2012 is expected drop for a fourth consecutive year, according to a new report. The Ernst & Young ITEM Club has predicted a 4.6 fall compared with last year, with lending reducing to £429bn. The figure will be the lowest level since 2006. Carl Astorri, … [Read more...]
European venture fund trimmed again
Place Norh West: 29 Oct 2012, 10:07 The North West Fund has had its budget for investing in companies with potential for growth reduced by another £15m for spending too slowly. European funding managers have reduced the North West Fund for Development Capital fund, one of six sub-funds … [Read more...]
Umbro to be sold in $225m deal
Cheadle-based football clothing and equipment business Umbro is to be sold by its parent company Nike in a $225m (£141m) deal. New York-based Iconix Brand Group has agreed to buy the company which was snapped up by Nike in 2007 for £285m, but placed on the market in June this year. … [Read more...]
A new funding support package for businesses has been launched by Yorkshire Bank.
Called the 'Growing Business' package, the measures are aimed at supporting companies in the various stages of their lifecycles. The first will be the launch of fee-free business loans and overdrafts as the bank said the removal of an arrangement fee could save businesses up to £10,000 on … [Read more...]
RBS bank branch sale collapses
Royal Bank of Scotland's planned sale of 316 branches to Santander collapses, with the Spanish bank saying the deal could not be agreed on time. Royal Bank of Scotland's proposed sale of 316 branches and other interests to Santander has collapsed. The Spanish bank pulled the plug on the … [Read more...]
Mortgage lending on the rise
Mortgage lending and new advances have increased in the second quarter of the year, according to new data from the Financial Services Authority (FSA). The FSA said the total value of outstanding loans at the end of quarter two was £1.22bn, an increase of 0.1 per cent on the first three … [Read more...]
Adidas set for Olympic boost after sales rise
Adidas set for Olympic boost after sales rise Annual revenues have climbed closer to the £500m mark at the UK arm of sportswear brand Adidas, which is headquartered in Stockport. The rise comes after group chief executive Herbert Hainer predicted a record year for the business following a … [Read more...]