FT.com: Economy will grow, says chancellor Mr Darling said he believed that, despite current woes, the economy was now in better shape to weather a storm than it had been in the past. Interest rates and unemployment were far lower now than in the downturn of the early 1990s.
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Original post by paul
Peston’s Picks: Bradford & Bingley rescued (again) Leading City institutions have rallied round to provide £179m of vital equity following a last-minute decision by the US private-equity house, Texas Pacific Group, to walk away from the deal.
TPG backed away from providing the new money after Moody’s, the credit rating agency, decided it was downgrading the debt of Bradford & Bingley.
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Original post by paul
Los Angeles Times: Peter Viles on the rapidly changing landscape of Los Angeles real estate market and beyond This should send shivers down all of your spines. It confirms that the sub-prime fiasco has only just begun. As has the bank bail outs, inflation and currency crisis. Expect an Iranian war to be used as cover for the crisis.
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Original post by planning4acrash
Me: Is Barratt bust?? Barratt share price on 6 Feb 2007 was 1289 (Click on the link above for price list)
Todays closing price is 41.50
Hence the fall in share price is
(1289 - 41.50) * 100
—————————- = 96.78%
1289
So if you invested £100 on 6feb 2008. Today it would be worth 3 pounds 20 pence.
I have no idea how they have not broken their covenance against their bank loans.
Barratt is the second largest house builder in the UK. If this is what the market values Barratt its actually valuing its land banks and its properties and project its developing.
So were they over priced by 93%…. Could be
Original post by deepak
Guardian: Barratt culls 1,000 jobs Barratt, like other housebuilders, is struggling to cope with a 60% dive in housing starts since June last year. It is also weighed down by £1.8bn of debt, which has combined to push down its share price by 84% in two months to 42p.The company held meetings at hotels around the country today at which staff were told of the changes.
Original post by paul
Timesonline: MPs vote to keep controversial expenses system MPs tonight voted to reject reform of their controversial expenses system.
Their vote in the House of Commons means they will retain their additional costs allowance to fund second homes in London. They will also have their spending audited only by internal auditors.
Voting was close with 172 voting to retain the old system and 144 voting for change, leaving a majority of 28 maintaining the status quo.
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Original post by flintster1994
Times: Mortgage drought to tighten over debt fears Lenders said they had reduced the supply of credit because of their expectations for the housing market, the changing economic outlook, changes in their own appetite for risk and their own continuing difficulties in getting wholesale funding.
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Original post by pendulum
FT: Bradford & Bingley braces for credit downgrade Buy ToiLet lender B&B is braced for a further setback after Moody’s, the rating agency, indicated it was preparing to cut the ailing mortgage lender’s credit rating.
Moody’s, which has been reviewing B&B’s credit ratings ever since it issued a profit warning last month, has decided to lower the bank’s main ratings by a single notch, people familiar with the matter said. An announcement could be made later on Thursday.
Original post by who stole my pension?
24dash: Private landlords ‘defying tenant deposit protection laws’ Nearly two thirds of private landlords are breaking the law by failing to properly protect their tenants’ deposits, new research has revealed.
You’ve got ask yourself….how many cash strapped or bankcrupt BTLers will simply run off with the money?
Original post by rental john
Guardian: Mortgages: Borrowers offered rate rise protection Homeowners on variable rate mortgages are being offered insurance to protect them against any future rises in interest rates.
Sounds good, until you read in to it….!
Original post by rental john
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