November 10, 2008
Weak housing market knocks Nationwide
Nationwide Building Society slashed residential mortgage lending by more than £2bn in the six months to 30 September and has warned that house prices will keep falling into 2010.
Mortgage lender HBOS rejected the efforts of two former banking executives to block the takeover by Lloyds TSB Group.
Nationwide Hit By The Downturn
The Nationwide Building Society has unveiled an 18% drop in half year profits coupled with an increase in bad debt.
AIG board nears approval of revised Fed plan (Reuters via Yahoo! UK & Ireland News)
The board of troubled insurer American International Group was nearing approval late on Sunday of a revised U.S. bailout to replace a previous $85 billion (53.7 billion pound) rescue, a person familiar with the matter said.
November 9, 2008
Brown issues fresh warning to banks
The banks which have received public funding must pass "some tough hurdles", Gordon Brown has said.
November 7, 2008
Lenders vow to pass on rate cut
The UK's largest mortgage lenders have vowed to pass on the interest rate cut in full following pressure from Chancellor Alistair Darling.
Fourth Lender To Pass On Rate Cut
Britain's biggest building society Nationwide has become the fourth lender to say it will be passing on yesterday's interest rate cut in full to customers.
November 5, 2008
Brown wants rate cuts passed on
Gordon Brown appealed to UK banks to pass on any interest rate cuts from the Bank of England in parliament this lunchtime.
Pound falls vs broadly stronger dollar
The pound weakened on Wednesday, as a bounce back in the dollar from its biggest one-day slide in 13 years the previous session coincided with growing expectations of a hefty cut in interest rates later this week.
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