Archive for the ‘Economy’ Category
Tuesday, August 2nd, 2011
Sometimes even countries need a tailored loan solution to help them with their cashflow, maybe the US has taken the 247Moneybox.com route, and helped them avoid a world catastrophe ha ha!
America was fortunately saved when the ticking clock forced Congress into voting through a new borrowing limit. Obama spoke after a bill to cut spending by $2.4 trillion in two stages and raise the US borrowing limit by the same amount passed the Senate by 74 to 26 votes. But made his frustration clear about how this crisis had been artificially manufactured.
Looking to the future Obama said the goal was to “fight for what the American people care most about - new jobs, higher wages and faster economic growth”.
It is incredible to think of what the debt burden is on the US and a viral scale perspective is being bounced around the internet and social network sites at the moment. Showing the US debt burden in $100 bills, similar metaphors have been used, for instance the British debt burden in £50 notes was shown to reach into the atmosphere.
Tags: Add new tag, Budget, Government
Posted in Economy, Government | No Comments »
Thursday, June 30th, 2011
More ‘doom and gloom’, we’re afraid, after an article on thisismoney.co.uk says that official figures show an increase in public borrowing from £8.8bn the previous year to £10bn this April.
As if things couldn’t get worse for an already under-pressure George Osbourne, the figure represents a record monthly high – despite being less than the feared £10.9bn mark predicted by city analysts.
At 11.6% of GDP, the £163bn budget deficit – a figure that represents the difference between the amount of money borrowed and paid out over the course of the financial year – is worryingly close to the borrowing deficit percentage in Greece (which the BBC reports is 13.6% of GDP and not 12.7%).
It’s no wonder that the Con-Lib coalition government is suggesting that the deficit is ‘the most urgent issue facing Britain’ and have made plugging the gap their top priority (as opposed to those efficient Germans who had a deficit of 0% in 2008 before the credit crunch hit).
However, would it be better to adopt the US approach and continue borrowing whilst making cuts in certain areas? Here at 247Moneybox.com the office is well and truly split between red and blue…
Tags: Economy, Government
Posted in Economy, Government | No Comments »
Thursday, December 23rd, 2010
The Bank of England warned today that interest rates could rise to as much as 5% next year. Mr Fisher, the executive director of markets and a member of the MPC (Monetary Policy Committee), said the bank is looking to make the increase as soon as possible.
Families could see their monthly mortgages soar ten-fold if the bank makes the decision next year.
There were more concerns today about the strength of the UK economy during the recovery from the recession. The economy grew by 0.7% in July, August and September, rather than the 0.8% initially reported, the Office for National Statistics said. Growth in the first six months of the year was also slightly lower than expected.
Here at 247Moneybox.com we are worried that raising the interest rate too quickly could bring the economy to a grinding halt. With imminent deep cuts to public spending and the inevitable VAT rise, it’s going to be a tough year.
Tags: Bank, Bank of England, Emergency Expenses, Families, Faxing, Interest rates, Monetary Policy Committee, Paperwork
Posted in Credit Crunch, Economy | No Comments »
Monday, December 13th, 2010
After Natwest finally reviewed and lowered their overdraft fees, it came to light this week that defaulting with a bank could be far more costly than a payday loan, which is often cited as having exorbitant fees. This is backed up by Money Saving Expert’s recent survey.
The government has issued previous warnings to banks to lower their overdraft fees and charges to consumers, however until now these have been ignored. After the multibillion pound bailout it is frustrating to taxpayers, who partly own these banks, to still be subject to the high and often very confusing charges.
To add insult to injury for the customer, banks do not have to include these sort of fees in their APR calculations for overdrafts.
Visit www.247Moneybox.com to see if our loan options might be suitable for you.
Tags: Banks, Default, Defaulting, Government, Money Saving Expert, Natwest, Overdraft, Overdraft Fee, Payday Loan, Santander, Tax Payer
Posted in APR, Economy, Government | No Comments »
Wednesday, December 1st, 2010
Forget the latest Hollyoaks calendar, as this South American publication caused a bit of a stir in the marketing department this morning. Female flight crew of Mexicana airline are stripping down in a racy calendar in an attempt to pull their employer out of its financial mess.
The BBC reports that the airline, which has debts of about $800 million (£500 million), filed for bankruptcy in August and has suspended operations.
“It occurred to me because we all needed money, and I thought that with so many pretty girls there were bound to be some who’d be interested,” said organiser Coral Perez, quoted by the Associated Press news agency.
Now this has set the target of a 247Moneybox.com calendar, however with the mince pie season upon us a rethink may be required, ha ha!
Tags: Calendar, Debt, Financial, Girls, Hollyoaks, Mexicana, Mince Pie, South American
Posted in Credit Crunch, Economy | No Comments »
Tuesday, November 16th, 2010
Hurrah for Walmart! It seems that some companies out there are trying to aid the unemployment situation in the UK, as supermarket giant Asda, owned by US firm Walmart, today announced plans to create more than 7,500 jobs in the UK next year.
The UK’s second biggest supermarket chain said it would create all 7,500 jobs through new store openings, expansion of its home shopping service and its recent takeover of Danish supermarket Netto in the UK.
The prime minister David Cameron said only yesterday that the UK would still be a ‘great economic power’ and that ‘the faster we can get our domestic house in order, the more substantial and credible our international impact is going to be’.
With companies such as Asda expanding, and hopefully more jobs becoming available, we here at 247Moneybox.com hope he’s right.
Tags: Asda, David Cameron, Employment, Jobs, Netto, Payday Loan, Wallmart
Posted in Economy, Government, Payday Loans, Unemployment | 2 Comments »
Monday, November 15th, 2010
Expect to a get a chilly feeling following news that Scottish and Southern are planning to increase prices by around 9%. The move, set to take place on the 1st of December, coincides with households cranking up their thermostats and will be felt across the entire UK. It is the first company to do so in the last few years and experts are warning that others may follow suit. The average annual heating bill will jump £67 to £782.
Here at www.247Moneybox.com we empathise with the extra burden on household finances that these increases will impose. We suggest that the best way forward when thinking about your gas and electricity bills is to visit a comparison website (such as www.uswitch.com) and finding a gas and electricity profile that suits you. Are you going to be heating 24/7? Or do you spend a lot of time away from the house and only need it in short bursts? These are the kinds of questions you need to ask yourself in order to capitalise on a cheaper deal.
Tags: Cash Advance, Expensive Bills, Gas Price, Heating Bills, Payday Loan
Posted in Credit Crunch, Economy, Inflation, Money saving, Payday Loans | No Comments »
Friday, November 12th, 2010
ING Direct have released statistics showing that Britons have been delving into their nest egg in order to cover the costs of living today. Savings have fallen by about 14% on average among Britons during three months. That is a reduction of £279 to £1,771; the amount deposited to savings accounts is the lowest since 2009. Most alarmingly, a quarter of all people had no savings at all.
Tags: Cash Advance, Fast cash, Payday Loans, Savings
Posted in Credit Card, Economy, Inflation, Payday Loans | No Comments »
Thursday, November 11th, 2010
While many Britons are struggling to get within sight of, let alone grasp, the first rung on the property ladder, research has shown that a handful of individuals are major players when it comes to real estate. A recent report by Country Life magazine reveals that 0.6% of the population owns 50% of the land.
The top private landowner, the Duke of Buccleuch and Queensbury, has over 240,000 acres in his possession. The Duke of Westminster owns an eye-watering £6 billion worth of real estate, including Belgravia and, Monopoly-must-have, Mayfair. Fancy indeed!
Vist 247Moneybox.com to see if our loan options might be suitable for you.
Tags: Emergency, Payday Loan, Property, Real Estate, Same Day Cash
Posted in Billionaires, Economy, Government, Payday Loans | No Comments »
Thursday, November 4th, 2010
You’ll see a trend if you look over some of our most recent blogs – and I’m not talking about customer satisfaction as seen in our last post.
No, we are of course talking about the “doom and gloom” of this dire economic situation. At the risk of sounding repetitive, we at 247Moneybox.com do feel it is our duty to keep you up-to-date with the ups and downs as propagated by the media.
Today the topic is food prices, with the news reporting on new findings by the British Retail Consortium. Their price survey shows a sharp increase in the price of wheat and corn that has increased what The Guardian called “inflationary pressure”.
As a result of this, consumers are paying more for bread and meat, while rising oil prices and a seriously poor harvest – which, incidentally, is the first we’ve heard of it in the City – have hiked up fruit prices to their highest level in 18 months.
With Christmas coming around and the inevitable VAT rise in January, things are starting to look gloomier than the weather! Hurrah for payday loans then, for you’ll never have to feel pangs of hunger when you have access to extra cash when you need it – so visit our website and apply today.
Tags: Economy, Food, Inflation, Payday Loans, Recession, Retail
Posted in Economy, Inflation, Payday Loans, Recession | No Comments »
