Homeowners are paying an average £1,800 a year extra for their mortgages as banks fail to pass on cuts in borrowing rates.
All the big lenders, including those saved from ruin by the taxpayer, are ramping up loan rates at the expense of families and businesses, a Daily Mail analysis has found. Full story...
Alistair Darling has effectively threatened Britain's biggest banks with a competition inquiry should they fail to increase cheap lending to mortgage borrowers and small businesses, The Times reports.
The Chancellor met the chief executives of seven of the country's biggest banks in the Treasury yesterday along with Lord Mandelson, the Business Secretary, Baroness Vadera, Minister for Competitiveness, Small Business and Enterprise, Lord Myners, the City Minister, and senior officials from the Bank of England. Full story...
The quantitative easing programme through which the Bank of England hopes to stimulate the economy is beginning to have some success, with companies finding credit markets easier to access over the past three months, the Bank said yesterday.
According to The Independent, the Bank's quarterly report on its asset purchase facility, through which the quantitative easing scheme is being conducted, reveals that its network of agents up and down the country say corporate credit conditions improved during the second quarter of the year. Full story...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till