Panama To Benefit From EU Crackdown On Offshore Tax Havens

It reads like an espionage tale from Len Deighton. Government conspiracy, illegal payments for stolen information and statements by royalty outwardly rebuking foreign powers. I am talking, of course, about the Liechtenstein bank scandal which has rocked the offshore tax havens that neighbor the European Union and could cause an outflow of billions to the more distant tax havens in the Caribbean and countries such as Panama and Guatemala. It has been no secret for some time now that the member countries... Read more »

Factors To Consider When Choosing A Business Account

When starting your business a vital concern is the business account you choose, there are many factors to consider such as the costs involved in transactions and borrowing, the facilities that your bank provides and the relationship you will be able to foster with your account manager. All of these factors will affect your business in a variety of ways, after all the security and efficiency of your finances is an essential element of success. Firstly you must set up an account if your business is... Read more »

Northern Rock - How A Problem Became a Disaster

Northern Rock has been a cloud over the UK financial sector since it ran out of cash in August 2007. This was due to the fact that most of its funds were being raised in the wholesale market, that is from other financial institutions rather than deposits from retail customers. The problems of the US subprime mortgage crisis, to which most UK banks remain exposed, dried up Northern Rock’s funding. This business model of financing rapid growth on the basis of short term borrowing from the wholesale... Read more »

Choosing A Business Account, Large Or Small Bank?

Opening a business account can be a troubling and stressful experience. The marketplace today is currently saturated with so many deals and offers that it is enough to make your head spin as you trawl through the reams and reams of associated literature. But what should you consider before taking the plunge and signing up for an account is who will control your business finances and ultimately the financial platform that your business sits upon. For this reason alone it is not worth opening a business... Read more »

Finding The Right Bank Account - What To Look For

A bank account is a very important financial tool and facility to most people, and it is important that you ensure that your bank account offers everything that you need to conduct your day to day finances with ease and convenience. There are a number of bank accounts available to consumers these days. However, you may find that your options are restricted based on your circumstances. For example, if you have poor credit you may find that you are only able to get the most basic of bank accounts until... Read more »

US Banks Hit Euro Tax Havens

As the US Federal Reserve responds to economic pressure by aggressively cutting interest rates, some countries might imagine they won’t be affected by the lack of confidence in past decisions made by US and European banks. But some people outside the US have been surprised to learn that their own banks are heavily involved in bank to bank loans involving US companies affected by the subprime mortgage business, and their citizens are waking up to what a global economy can mean in bad times as... Read more »

Getting A Mortgage in the UK

Gradually falling from its dominance as a world provincial power the United Kingdom retains much of that power through the development of financial and insurance industries. The country works with an economic model that has come to be known as the Anglo-Saxon model , which is based on a free market, liberalism and low taxation. Given the United Kingdoms past industrial history it is a surprising evolution from coal and shipping to services as an economic base. In 2005, the countrys GDP was made... Read more »

Getting A Mortgage in the USA

The United States of America is located on the North American continent with Canada located to the North and Mexico to the South. The country is comprised of 50 contiguous states, two states not contiguous with one located west of Canada and another in the Pacific Ocean. There are several territories. The United States is a federal constitutional republic with its capital located in the administrate district referred to as the District of Columbia. The economy of the United States is the largest... Read more »

Fed Restrictions Make Loans Tough

As a result of the recent sub-prime mortgage scandal, the Federal Reserve has taken many actions to avoid a global credit crisis, which it now aims to further mitigate through tightening the standards that lenders use to determine whether a potential borrower is eligible to receive a mortgage loan. Chairman Ben Bernake has stated that more rigid restrictions would “promote responsible lending,” even as 2 million Americans with sub-prime predatory loans will likely default over the next... Read more »

Choosing The Best Bank Account

Choosing the best bank accounts for your needs is one of the most important decisions you will make. Many consumers believe that simply walking into a local bank and signing up for a savings account or checking account is all that is needed. This can work for some people, but many others would do better if some time was spent researching the various bank accounts that are available. Bank accounts are more than places to store your money. They are, in fact, financial tools that can help you keep your... Read more »