Subprime borrowers could not withstand the higher interest rates

Subprime borrowers could not withstand the higher interest rates

The trouble started when the interest rates started rising and home ownership reached a saturation point. From June 30, 2004, onward, the Fed started raising rates so much that by June 2006, the Federal funds rate had reached 5.25% states Alan Green, senior analyst at Molton Wealth believes...

Standard Chartered puts aside $900m for potential fines

Standard Chartered puts aside $900m for potential fines

21 February 2019 Image copyright Getty Images Standard Chartered is putting aside $900m (£690m) for potential fines involving investigations in Britain and the US.The money will cover separate investigations into breaches of US sanctions and foreign exchange trading issues.It also covers a...

Import prices in US recorded their biggest increase in seven months

Import prices in US recorded their biggest increase in seven months

US import prices increased 0.6 percent month-over-month in August of 2017, recovering from a downwardly revised 0.1 percent drop in July and above market expectations of 0.4 percent. It was the first gain in import prices since April and the largest since January as cost increased the most for...

Barclays profits amid UK economic 'uncertainty' in UK

Barclays profits amid UK economic 'uncertainty' in UK

21 February 2019 comments Image copyright Getty Images Barclays has reported a profit of £3.5bn for 2018, unchanged on the previous year.The bank also announced a provision of £150m for "anticipated economic uncertainty" related to Brexit.If the economy suffers after the UK's departure...

What's wrong with gas hobs?

What's wrong with gas hobs?

21 February 2019 Image copyright Getty Images Gas hobs could become a thing of the past if recommendations from the Committee on Climate Change are implemented.What could this mean?What is wrong with using gas hobs?Gas hobs and gas boilers use fossil fuels which produce greenhouse gas...

Cyber-thieves set sights on hijacking payment data

Cyber-thieves set sights on hijacking payment data

20 February 2019 comments Image copyright Getty Images Image caption BA customers were caught out by an attack that sought to steal payment card information Thousands of websites are being hit by cyber-thieves who implant code to scoop up payment card numbers, research suggests.Security giant...