Present IT
A blog covering economy and finance

UK Budget Deficits

April’s fiscal stimulus is likely not about to happen following a budget deficit of 12.6% of GDP. This figure is far higher than what was predicted by the Chancellor Alistair Darling. [...]

Posted by admin on May 2nd, 2009 :: Filed under Uncategorized

Egg Pensions remain after the sale

Despite the internet bank Egg changing hands from Prudential to Citigroup, Citigroup intends to retain the bank’s name but offer much wider range of services to its UK clients than what [...]

Posted by admin on May 1st, 2009 :: Filed under Uncategorized

Comments from Warren Buffet

The billionare investor Warren Buffet, who has huge investments in the banking and insurance industries, recently said that the US economy has ‘fallen off a cliff.’ Speaking on US cable network [...]

Posted by admin on April 30th, 2009 :: Filed under Uncategorized

Regulation is key to Capital Flows

Prior to the G20 meeting in London, POBC has released a series of articles on its opinion regarding the causes of the current financial crisis. In one of the reports, POBC [...]

Posted by admin on April 29th, 2009 :: Filed under Uncategorized

HSBC Rights issue

HSBC plans to raise GBP12.5 billion to help bolster its capital cushion and fund acquisitions. This capital raising, despite the negative news, is a positive one as it points to the [...]

Posted by admin on April 28th, 2009 :: Filed under HSBC

Citigroup buys Egg

In a move to possibly boost its revenue, Citigroup bought the internet bank Egg from the UK insurer Prudential for only 75 million pounds. This is 375 million pounds less than [...]

Posted by admin on April 27th, 2009 :: Filed under Citygroup

Change in Citigroup hoped to stabilize the Bank

In a bid to stabilize its postion and reassure the markets, Citigroup has agreed to have the Government restructure its board of directors to include more independent members. Last year, in [...]

Posted by admin on April 26th, 2009 :: Filed under Citygroup

Government’s Stake in Citigroup increases

The US Government now has a 36% stake in the troubled Citigroup bank up from the previous 8%, the Treasury announced earlier in March. The higher stake comes with more responsibilities [...]

Posted by admin on April 25th, 2009 :: Filed under Citygroup

Effects of Stocks on the British Inflation

In Europe, the British stocks experienced a rise in february following the news on inflation that had also caused the prices of food and fuel to go up. This has offset [...]

Posted by admin on April 24th, 2009 :: Filed under Uncategorized

No Incentive for Banks

Banks have noted that more than 90% of all homeowners currently are on their mortgages. While they argue that their assets will ultimately perform, the discounted prices being offered by investors [...]

Posted by admin on April 23rd, 2009 :: Filed under Uncategorized