The UK’s big five banks recently reported huge half year profits to the City and are projecting profits over £40 billion for the full year. I don’t want to sound like Gordon Gecko but “profits are good” and these profits could be construed as good news of a buoyant economy. Sadly however this is against a backdrop of falling house prices, rising interest rates, high levels of household debt, house repossessions up 30% on last year and inevitably an increase in the number of individuals seeking help with debt problems. Continue reading
Financial Services Authority
Information on the Financial Services Authority, provided by McCambridge Duffy