More debt problems may arise for those who work in the manufacturing sector, as a gloomy survey could point to job losses.
The poll of firms by the Confederation of British Industry has revealed 30 per cent more manufacturers expect business to get worse rather than better in the near future, with a balance of 24 per cent anticipating a drop in demand for exports.
And a majority of 11 per cent anticipate a contraction in the sector, something that could lead to jobs being shed.
This represents the most negative sentiment since April 2009 and the survey also revealed export orders are at their lowest since October that year.
Many consumers are already seeing their own personal finances get worse.
The Markit Household Finance Index published this week revealed 37 per cent of people have endured deterioration in their finances this month, while only seven per cent have seen things get better.
A woman from Darlington has been jailed for 21 months after she was caught stealing from her employer.
Patricia Rose Parrott stole a total of £184,000 from the firm she worked for, Teesside Fluid Systems, over a period of five years. The 58-year-olds reason for doing so was apparently mounting debt problems, which she had inherited when her husband died 18 years previously. Since then, she had been struggling to make interest repayments and had a mountain of personal debt problems.
Parrott, who had been a loyal employee for 32 years, was able to commit the theft due to her position as a financial controller for the firm, which is based in Newton Aycliffe in County Durham.
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If you’re fed up with the slew of new fees your bank has imposed on your account lately, you might want to join others as they switch financial institutions on Bank Transfer Day Saturday, November 5.
The movement was organized by Kristen Christian, who was tired of fee increases at her bank and, as a result, switched to a credit union. She created a Facebook page for Bank Transfer Day and more than 77,000 people have responded to her invitation online to attend the event.
Credit unions across the nation are expected to extend their hours Saturday and beef up staffing for Bank Transfer Day, according to the Credit Union National Association (CUNA).
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Standard & Poor’s raised long term counterparty credit and insurer financial strength rating for Swiss Reinsurance and its core subsidiaries to ‘AA-’ from ‘A+’.
The upgrade to AA- reflects the rating agency’s view that Swiss Re has met expectations for an upgrade since the last full review, namely by improving its financial profile, repaying the convertible perpetual capital instrument (CPCI) with Berkshire Hathaway, and continuing to generate strong operating performance characterized by strong underlying performance and improved net income.
The ratings on Swiss Re reflect the groups very strong competitive position, very strong capitalization, and very strong non-life operating performance. They are co
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Debt consolidation is an effective way to reduce your payments and pay down your balances faster, and once you’ve paid off the consolidation loan and eliminated your balances, you can use extra income to increase your personal savings. But while consolidation helps simplify debts, this method isn’t right for everyone. Weigh the factors and decide if consolidation is right for you.
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