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Thursday 07 May 2009
Bank of America needs to cover a capital hole of $34bn (£23bn), it will be revealed today, as the Obama administration unveils the results of "stress tests" to determine the strength of the country's financial system. But the bank insists it can raise most of the money by selling assets or issuing new shares, and says that converting taxpayer funds into common stock, a move that could make the US government its dominant shareholder, would be a last resort.
Saturday 28 February 2009
Saturday 10 January 2009
Britain's credit-card market is one of the most competitive in the world. Most cards have no annual fees, offer attractive interest-free introductory periods, and come with generous loyalty schemes. The downside is that they also charge hefty interest rates – typically between 15 and 20 per cent APR – meaning that they're an inefficient way of borrowing for any period of time.
Sunday 09 November 2008
Friday 31 October 2008
Saturday 25 October 2008
Q. Credit card fraud led to me receiving a £2,000 American Express bill. AmEx told me to cancel my direct debit with my bank, Alliance & Leicester, to avoid this payment being processed. I tried to cancel using A&L's online service and thought I had done this when I entered a "cancel" instruction – but it turned out that this just cancelled the cancellation request. This led to the direct debit being processed. When I realised, I phoned A&L and it approved a new overdraft limit to avoid triggering unauthorised overdraft charges. But A&L imposed charges anyway. It says it will not consider refunding these until the court cases on unfair bank charges are settled, arguing it has a waiver from the Financial Services Authority covering all bank charges regarded by customers as unfair. But my complaint is nothing to do with charges covered by these cases. LC, Cheltenham.
Tuesday 23 September 2008
A Scotland Yard anti-terrorism officer has been jailed for 10 months after he admitted using his corporate credit card to fund a £73,000 spree.
Tuesday 26 August 2008
The personal details of more than a million high- street bank customers have been found on the hard drive of a computer sold on eBay for £35.
Tuesday 22 July 2008
American Express, the credit card company, issued a thumping profits warning last night, sending its shares diving and potentially foreshadowing a new leg of the credit crisis.
Sunday 13 July 2008
Britons are more afraid of identity theft than they are of being mugged or attacked in the street, a survey from American Express has revealed.
Saturday 05 July 2008
The search for a perfect murder is the constant quest for crime writers; but for petty villains in South America, it appears that the quest for the perfect scam for relieving travellers of their excess cash has reached a perfect conclusion. It relies upon the large number of forged bank notes in circulation, but is far more subtle than simply handing over fake bills in change.
Wednesday 23 April 2008
After last week's column about Captchas – the little visual tests that websites deploy alongside password requests to prove that you're human – reader Jo Franks pointed out how maddening they are for blind people. When I raised this issue on the Cyberclinic blog, Thomas Reid mentioned that a Captcha at blogcarnival.com in effect stops blind bloggers from joining in with their project. This obviously isn't a deliberate ploy. But it's far from unique.
Wednesday 12 March 2008
The man responsible for Egg's controversial clear-out of 7 per cent of its credit card customers has resigned after less than a year heading the UK operations of Egg's parent, Citigroup.
Tuesday 26 February 2008
Visa has announced an $18.8bn (£9.5bn) fundraising that will rank as the biggest initial public offering ever seen in the US. It comes as the credit crisis continues to destabilise financial markets, and in the middle of an otherwise arid spell for stock market flotations.
Saturday 09 February 2008
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
EU exit would hit UK economy much harder than neighbouring countries, study finds
- 1 Frank Lampard's face drops when Holly Willoughby introduces him as a 'Man City legend'
- 2 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 3 The confessions of men who ordered mail-order brides
- 4 General Election 2015: Stephen Hawking says he will vote Labour
- 5 Yazidi sex slaves undergoing surgery to 'restore virginity' after being raped by Isis militants