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Goldman Sachs wings turned to ashes by SEC
April 19, 2010
Image via CrunchBase Oh, how the mighty banks have fallen. Since Goldman Sachs started around 80 years, the phrase ‘Long-term greedy’ which was used by Sidney Weinberg, who was managing partner during the 1930s through to the 1960s, has been a sort of guiding mantra. This ‘Long-term greedy’ attitude helped the company grow from being a [...]
Is it a Bird? Is it a Plane? 2
February 24, 2010
Image by daveknapik via Flickr It seems as though things have moved on from simply taking a disused airplane and turning it into a house, as discussed in a previous post (See – Is it a Bird? Is it a Plane?) According to an article on the BBC, a company based in Swansea has developed [...]
Bank charges come back into legal spotlight following court ruling
February 22, 2010
Image by kiki99 via Flickr Bank charges could be set for another court battle after a ruling by a Glasgow Judge cleared the way for a proof hearing into determining whether bank charges are fair. The Supreme Court verdict last November ruled the Office of Fair Trading could not assess bank charges under section 6 [...]
New FSA rules force financial firms to reveal complaint numbers
January 29, 2010
Image via Wikipedia Under new Financial Services Authority (FSA) rules, financial firms who collect an excessive amount of complaints against them are to be named and shamed reports MoneySavingExpert news. Over a six month period companies who receive 500 or more complaints will, under the rules, have to publish the numbers of complaints twice a [...]
Judge’s debt enforcement ruling condones Identity Theft
January 27, 2010
Image via Wikipedia The BBC report that the OFT has issued guidelines to lenders and borrowers about when their loans and other credit may, and may not be enforced. The guidelines come in the wake of OFT fears that some debtors may be misled into their ability to have debts written off. The OFT draft [...]
Kraft takeover of Cadbury bad news for jobs, fair trade and dino digestion
January 19, 2010
Image via Wikipedia Well it seems as though the deal is going through after management announced they would support the Kraft proposal to takeover Cadbury. This is despite comments by Gordon Brown and, the trade union, Unite’s warning that Kraft plans at least 10,000 job cuts worldwide to slash costs and repay the cash it [...]
Cheques RIP
December 16, 2009
Cheques are to be phased out by October 2018 if adequate alternatives can be developed in time according to the latest announcement from the board of the UK Payments Council. This announcement comes after 350 years of cheque usage, however because of the use of credit, debit and contactless payment cards, alongside online shopping and [...]
Bank charges verdict to be delivered next Wednesday
November 17, 2009
Image by johnbullas via Flickr Wednesday week (25th November) will be D-Day for the banks in the long-running bank charges saga after it was announced earlier today that the Supreme Court will deliver their ruling on the legal battle according to MoneySavingExpert. Both the High Court and the Court of Appeal have ruled that charges [...]
HBoS power failure causes chaos for weekend shoppers
November 16, 2009
Image via Wikipedia Christmas shopping was disrupted for thousands of shoppers on Saturday following the nationwide failure of Halifax and Bank of Scotland ATM machines. The holes-in-the-wall were rendered unusable from early Saturday morning to mid-afternoon after a power failure at an IT centre in Yorkshire occurred. The outage also affected access to customers’ accounts [...]

April 19, 2010
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