Debt companies are experiencing tough times as more creditors refuse to accept the terms of the individual voluntary arrangements (IVAs) offered to them on behalf of their indebted clients.
An IVA is an alternative to bankruptcy, whereby creditors come to an arrangement with their creditors, usually banks and other lenders, to have a proportion of their […]

A woman who holds her UK current account with Halifax Bank of Scotland (HBOS) was surprised when, in response to her request for a bank statement, she was sent 75,000 of them belonging to other customers.
Stephanie McLaughlan, 22, received five large packages which contained 500 sheets of customers’ names, sort codes and account numbers. HBOS apologised […]

Suffolk-based brewer and pub company Greene King has posted an encouraging trading statement stating that its UK investment in the leisure industry is performing in line with expectations.
In the 36 weeks to 7th January like-for-like sales were up 3.4%, although its Scottish outlets, the 300-strong Belhaven pub chain, saw a decline of 2.8% over the period. However, […]

Norwich Union, one of the biggest UK life insurance and general insurance companies, has decided to bring some of its India-based call centre work back to Britain after customers complained that advisers in the sub-continent ”did not know what they were talking about”.
A Norwich Union spokesperson admitted to the Financial Mail that cultural differences have led to severe difficulty […]

The founder of JJB Sports, David Whelan, has raised £50m of his UK investment in the sports store chain through the sale of an 8.6% stake of his own shareholding.
Whelan told media contacts that he had sold the 20.5 million shares for “personal reasons”, provoking speculation that he was raising cash to buy players for […]

A judge believes that some banks are abusing the legal process by resolving UK current accounts bank charges cases, in which they have initiated legal action, before they get to court.
District Judge Toombs said that he may strike out the defence put forward by banks unless they assure him they will contest them in court. […]

House prices will go up £1,000 a month throughout 2007, according to the latest projections from the Centre for Economics and Business Research (CEBR).
The CEBR said that it saw no evidence that higher interest rates will change the desire of homebuyers to make a UK investment in property and that as a result prices will not be […]

UK businessman Richard Branson is reported to be close to finalising a deal to construct and run a £1.5bn casino in the southern China city of Macau, significantly extending the range of his Virgin empire across the globe.
The Virgin supremo said: “This venture will provide a family focus and world-class entertainment. The sector is growing, […]