Surprise As Treasury Wants Arnold Back In Northern Rock Bidding
February 11, 2008 | Leave a Comment
The bidding for Northern Rock may not be over yet, as Olivant has agreed to meet with officials from the Treasury to see if their bid can be resurrected.
US Home Sales Fall At Record Rate
February 8, 2008 | Leave a Comment
New home sales in the US fell at a record pace in 2007, according to figures from the US Commerce Department.
Bank Of England Watches As The Fed Dives In
February 6, 2008 | Leave a Comment
The Federal Reserve in the US has not been slow to react in its attempts to stave off recession. Cuts of 0.75% last week and another 0.5% this week have taken the interest rate down from 4.25% to 3%. In comparison, the UK can be seen as either foolishly slow or sensibly calm in its lack of reaction so far in 2008.
Time Runs Out For Northern Rock Bidders
February 4, 2008 | Leave a Comment
It seems that the chances of a major bidding war for Northern Rock have disappeared as it seems that only two bidders will be putting forward plans for its takeover by the deadline on Monday 4 February.
Sub-prime Fallout To Get Worse
February 1, 2008 | Leave a Comment
The problems caused by the US sub-prime crisis have been wide and intense. The US housing market continues to fall, the credit crunch followed and is still causing grief worldwide, and economies around the world are taking flight. It might not get better just yet.