Below the breadline on Liverpool’s workless estates
January 11, 2012 by Annabelle Rowan · Leave a Comment
Thomas Bebb cranes his head out of his living room window to assess how many of his neighbours are unemployed. He counts the number of flats in this three-storey, brown-and-grey pebbledash block (12) and pauses to calculate how many contain people in work. There are two: a scaffolder and a nurse. Looking across the courtyard at two other blocks opposite and to the left, he can’t think of anyone with a job there either.
The high numbers of workless households on this estate help explain startling figures produced by the GMB last week revealing that nearly one in three households in Liverpool have no one in work.
About Long Term Pension Liabilities
January 11, 2012 by Annabelle Rowan · Leave a Comment
Pensions are long-term retirement plans that are funded by an employer on behalf of the employee. Your employer contributes a significant amount of money toward your retirement. An employer who bothers to set up a pension incurs a liability; this liability is the payment of benefits to you. To meet the promises of the pension, the plan may employ various insurance contracts.
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A pension may employ the use of annuity contracts to ensure that long-term liabilities are satisfied. An annuity is an insurance policy that guarantees payment to an individual for life or a set number of years. A pension annuity provides the employer with a simple way to manage pension liabilities.
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Payday lending needs tighter regulation | Sarah Mackinlay
December 9, 2011 by Annabelle Rowan · Leave a Comment
Almost certainly anyone who tells us we must pay back a loan with 4,214% interest should be laughed at ferociously and then heavily questioned, but the explanation that short-term credit facilities help people manage their personal cash flow in uncertain times offers justification. Or does it?
Short-term lenders will argue that interest rates at 4,000% do not reflect the true amount you must pay back because it is based on an APR (annual percentage rate) calculation which they are legally obliged to give. A short-term loan will not be paid back over a year because this is not what they are designed for. As such, an annual rate will rarely be met precisely because the loans are designed to be a short bridge, to provide finance in a difficult situation.
Debt Consolidation Criteria
December 1, 2011 by Annabelle Rowan · Leave a Comment
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Overcoming debt is a major concern for many people. Since credit score ratings determine mortgage rates, car loan interest and insurance rates, it’s important to have a healthy score. The key to having a good score is a low debt to available credit ratio. There are different ways to reduce debt such as budgeting, credit counseling and debt consolidation. Of these options, debt consolidation is perhaps the most drastic choice. Debt consolidation requires research, patience and accurate record keeping. If not done properly, debt consolidation can worsen credit problems instead of fixing them.
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The term debt consolidation refers to the act of combining all unsecured debt payments into one.
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Libor rises to level last seen in mid-2009
November 10, 2011 by Annabelle Rowan · Leave a Comment
The key measure of financial stress in the British banking system has hit its highest level for more than two years.
The three-month London Inter-Bank Offered Rate (Libor) – the interest rate that reflects banks’ willingness to lend to each other – reached 1% for the first time since July 2009 on Wednesday. It means that banks are now charging each other almost twice as much as the Bank of England’s base rate of 0.5% to borrow money. In normal conditions, the gap between base rate and Libor is typically 0.15-0.2%; the rise to 0.5% indicates growing alarm about the safety of the financial system.
The bad news for consumers is that Libor is one of the key elements in mortgage pricing, and a sustained rise in Libor soon feeds through to higher mortgage rates. Ray