According to the Daily Telegraph, 2006 saw the number IVAs (individual voluntary arrangements) double to 45,000. In the process a total of £1.4 billion in debt was written off.
IVAs are a mechanism for individuals to regain control of their indebtedness without going through the process of personal bankruptcy. With debts, loans and credit card borrowing at all time highs, the IVA has become a significant feature on the lending landscape.
To read more, click on the post title.
30 December 2006
20 December 2006
Mergers and Acquisition Boom
According to a report in today's Daily Telegraph, 2006 M&A activity will exceed the levels reaches in the 1999/2000 dotcom boom. The total value of takeovers has reached $3,611bn (£1,836bn).
The largest UK transaction was the takeover of British Airports Authority (BAA) by Ferrovial of Spain worth $30.2 billion. The largest global deal was valued at $89 billion. This was the takeover of Bellsouth by AT&T.
To read the full story, click on the post title.
The largest UK transaction was the takeover of British Airports Authority (BAA) by Ferrovial of Spain worth $30.2 billion. The largest global deal was valued at $89 billion. This was the takeover of Bellsouth by AT&T.
To read the full story, click on the post title.
01 December 2006
UK High Street in Christmas Slump
Retail sales are falling on the UK high street. That's not exactly news. The problem is that many retailers were hoping that Christmas shopping would signal a reversal of the decline.
Obviously traditional retailers are being hit by the growth of the Internet based competitors. But large retailers from ASDA to John Lewis are reported to be concerned. Most blame two factors; the recent quarter point rise in interest rates and the debt overhang suffered by many British families.
To read the full story, click on the post title.
Obviously traditional retailers are being hit by the growth of the Internet based competitors. But large retailers from ASDA to John Lewis are reported to be concerned. Most blame two factors; the recent quarter point rise in interest rates and the debt overhang suffered by many British families.
To read the full story, click on the post title.
US Dollar nudging towards $2 to £1
The US Dollar continued to slide yesterday. At one point sterling was worth $1.967. The US is reeling from a series of bad news shocks. Confidence is falling and there is a growing belief that interest rates may have to be cut. The problem is that the US is running a current account deficit equivalent to 6.5% of GDP.
To read the Daily Telegraph's version, click on the post title.
To read the Daily Telegraph's version, click on the post title.
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