August Gold News 2017

Should alarm bells be ringing?!

Ten years on from the financial banking crisis there is news of a sub-prime lender in trouble here in the UK.  We’ve highlighted concerns about this before, but the news about Provident Financial should surely send alarm bells ringing.

The company lost two-thirds of its stock market value in one day on Tuesday after the doorstep lender was hit by many blows.  It led to the biggest fall in a FTSE 100 company ever in one day, wiping nearly £1.7bn off its stock market value.  Provident Financial – which specialises in lending to people ...

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There are worrying signs that we could be heading for another big financial crash, ten years after Northern Rock had to be bailed out.  There are concerns that the bubble could be about to burst yet again.  New figures, released this week, show spending on credit, debit and charge cards is growing at the fastest rate since 2008.  According to the banking trade body, UK Finance, the number of card transactions increased by 12.3% over the year to the end of June.

The figures, which were released on Monday, illustrate an alarming rate of growth for borrowing at a time ...

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