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  • Mr Sandler Plans to Revive Northern Rock | MakeMoneyReviews.co.uk
    their current mortgage deals come to an end in the coming year Those mortgages are said to be around 30 billion pounds and those borrowers will either have to shift to other lenders or pay higher interest rates on their renewed mortgages Mr Sandler also stated that he aimed to increase the bank s retail deposits to around 20 billion pounds by 2011 the year when he plans to return the bank back to the private sector So even as Mr Sandler stated that the current year would still result in losses at the bank he briefly described some of the other measures to reduce losses in the coming years They include reducing costs by 20 and letting go of around 2 000 of its current staff to stop giving out unsecured and commercial loans and to speed up mortgage redemptions and to renew only 40 of mortgages Northern Rock has declared a pre tax loss of 168 million pounds for 2007 Northern Rock s panicky customers also withdrew 12 2 billion pounds from the bank when news of the banks collapse leaked out Mr Sandler is the third chairman appointed by the bank in less than six months The bank also indicated that it would pay their chief executive Mr Adam Applegarth who almost sunk the bank 760 000 pounds to end his contract along with a company pension of 2 2 million pounds in the next 10 years as also a staff discount of 75 000 pounds on the mortgage of his home These figures are quite high as compared to what was previously announced when he had exited the bank last December The bank had also paid 41 million pounds as fees to various advisors including Blackstone and Goldman Sachs as they searched for a buyer for the bank The bank had also paid 76 million pounds for new buildings for its head office even as the expansion plan was canceled The previous chairman from October to February Mr Bryan Sanderson will also have to be paid 315 000 pounds as his annual salary along with 85 000 pounds as office expenses till October in the next year when his term expires Northern Rock also had to increase provisions for customer loans from 81 million pounds to 240 million pounds since the housing market got caught in the sub prime crisis and the bank expected substantial problems in recoveries So even as the bank had re possessed 2 215 properties at the end of the previous year which was more than thrice the number in the year before the current market conditions indicated that the figure could rise further The bank is also facing flak from its rivals as it tries to attract new deposits from savers The rivals accuse the bank of using the Government guarantee as a ruse of attracting new deposits The bank has responded by stating that it would not use the guarantees to promote its business and would continue to keep market

    Original URL path: http://www.makemoneyreviews.co.uk/news/sandler-northern-rock.html (2016-02-12)
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  • I Owe But Can't Help Spending More | MakeMoneyReviews.co.uk
    for them to arrange for new finance If you too feel that you are being sucked into the black debt hole then try doing the following things to crawl back out and to stay out in the future The first thing is to make a proper plan and develop the will power to stick to it come rain snow or a sale at Harrods Strict financial discipline will be required so make a list of all the different debts which have to be cleared on a priority basis If you have any savings then use them to clear off credit card debts If you have out standings on too many credit cards then clear some of the smaller ones and cancel those cards STOP buying any more luxury items until you can afford to buy it with your own money Check out different mortgage and utility providers and if possible shift to another provider who can give a better rate for their services In case you are able to procure a loan then get it and first and foremost clear your credit card out standings You will be able to save a lot in interests and penalties However after doing that restrict your spending on your cards and pay off your card payments as soon as possible in future so that you do not fall in the same trap again Lock up your credit card at home if you cannot resist the temptation to swipe it Make purchases in cash until you are free of the plastic addiction Split all major expenses into smaller ones so that you can pay them off easily Also check out your insurance policies and shift them to a better provider if you can Keep an eye on your bank account Make a decision in

    Original URL path: http://www.makemoneyreviews.co.uk/news/spending-more.html (2016-02-12)
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  • Tata Finally Pounces On Jaguar And Land Rover | MakeMoneyReviews.co.uk
    5 billion dollars in 1989 and picked up Landrover for 2 73 billion dollars in 1990 Ford then proceeded to invest billions of pounds in its 2 acquisitions but while Range Rover is doing quite well and is posting profits Jaguar is not financially healthy even as its cars get excellent technical reviews But with Ford faltering in the US with losses mounting to 7 65 billion pounds during the past 2 years there was pressure building up on its chief executive Mr Alan Mulally to part with these 2 companies Ford which had purchased premium British car maker Aston Martin in 1987 was also forced to sell the company for 450 million pounds to a middle east backed business group Jaguars and Land Rovers are produced in factories situated in Merseyside Halewood West Midlands and Solihull On the other hand Tata is the largest manufacturer of Trucks in India and also controls around 17 of the Indian car market with its models like Indica Indigo Sumo Safari etc It has also announced that it will be producing the worlds cheapest car the Nano priced at 1 000 pounds from September 2008 in India Tata also has a stake in Fiat in India which now supplies engines for its cars and has also taken over factories of the defunct Korean company Daewoo in Korea Tata also owns Tata Tetley and had taken over the Dutch steel company Corus in the previous year Tata was competing with rival Indian car maker Mahindra Mahindra and a private equity company One Equity in its takeover bid for Jaguar and Land Rover But even as Tata s bid to take over Jaguar and Land Rover seems to have succeeded it still facing difficulties with Ford over Ford s insistence to supply spares and engines

    Original URL path: http://www.makemoneyreviews.co.uk/news/tata-pounces-on-jaguar.html (2016-02-12)
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  • Tomb Raider Founder Does a Houdini | MakeMoneyReviews.co.uk
    His polo team also consisted of some of the best polo players including ex captain of the South African Polo Team Buster Mackenzie His business circle also consisted of Tokyo Sexwale a wealthy millionaire who at one time had been imprisoned along with Nelson Mandela and a controversial tycoon Brent Kebble who had made his fortune in gold mining Mr Cornwall had made a lot of money due to the success of The Tomb Raiders and in the last 2 years he received almost 3 million pounds from Eidos But Sci Entertainment the parent company has admitted that the company was in deep financial trouble and was now looking at various ways to reduce its expenses including laying off around a third of its staff which would bring down the total to around 800 Sci Entertainment also needed around 45 to 55 million pounds in order to survive which was much more than the 30 million pounds which it had assumed would be enough in January 2008 This is in spite of the fact that one of their games Kane and Lynch which became quite successful and sold around 1 4 million copies during the previous Christmas Sci Entertainment had already bid goodbye to its chief executive Jane Cavanagh and 2 other top executives during January and had appointed Phil Rogers as its new chief executive But there were personal problems following Charles Cornwall after news came out in 2005 that shares which were held in JCI which was a company owned by Mr Kebble and where Mr Cornwall was a director were either sold off or pledged against security for loans This infuriated other shareholders and an investigation was ordered to find out as to who was the real owner of the company But to add to the mystery

    Original URL path: http://www.makemoneyreviews.co.uk/news/tomb-raider-found-in-hiding.html (2016-02-12)
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  • Woolworths Struggling to Stay in Business | MakeMoneyReviews.co.uk
    the market capitalization of the company itself In fact the BBC has the right to pick up the stake before any other outside bidder and it can exercise this right in this month itself but Woolworths has still not informed the BBC about its decision In the previous year Woolworths had started some really innovative programs on TV including some remarkable characters such as Woolly and Worth and famous celebrities like Kelly Osbourne and Rolf Harris The company also has plans to come out with its next phase of its value series Worth It during the coming quarter But then before Christmas Woolworths decided to concentrate more on its on line and catalog campaign and hence slashed its TV advertisement budget The biggest problem facing Woolworths is that the refinance agreement which the company had entered into in which it had availed of a 350 million pound secured asset based loan from the Bank of Ireland and GMAC in addition to a 35 million pound loan from ADM Capital has resulted in an interest outflow of 30 million pounds per year as interest A recent acquisition EUK to improve Woolworths distribution business has also strained the company s finances Many investors and bondholders feel that selling of its stake in 2Entertain is the simplest and fastest way out of this situation Mr Bish Jones is also planning to cut the final dividend by around 50 even though the company on paper seems to have made a profit The company also has a pension fund deficit of around 60 million pounds and some of these problems could be resolved by selling off its stake in 2Entertain along with restructuring its retail arm Analysts like Mark Photiades of Landsbanki however cautioned that the Management s aim of returning the retail business to

    Original URL path: http://www.makemoneyreviews.co.uk/news/woolworths-cutting-business.html (2016-02-12)
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  • Inflation Rates | Make Money Online Fast | MakeMoneyReviews.co.uk
    quantity and have realized that it is better to provide better quality and service rather than offer cheap prices This move has helped them show better results while competing with manufacturers from China and other Asian countries This was the outcome of a survey conducted by the EEF manufacturers organization and accountants BDO Mr Stoy Hayward where 15 or the 200 companies surveyed admitted to cutting down prices in the wake of competition as against in 2004 where 35 had admitted to doing so So more British companies have decided to move on into niche markets with 53 companies doing so now as compared to 45 in 2004 This move ensures that others cannot follow them because of their lack of expertise But an increase in the price of raw materials and also other input costs such as fuel and freight has forced manufacturers to pass on the bulk of those additional costs to the consumers With inflation rising from 69 7 in January 2008 to 72 2 in February which incidentally is the highest rise since November 2004 British manufacturers are also caught up in the net of the global credit crunch as export orders shrunk even further due to less demand from the United States Asia and other parts of Europe Analysts say that the increased manufacturing activity in February was only due to manufacturers executing existing orders and with old backlogs being cleared the manufacturing levels could fall down again in future The highest inflation in these rates can be gauged from the rise in the output price index which zoomed from 57 9 in January 2008 to 59 9 in February This will put immense pressure on the Bank of England to hold on to the current interest rates of 5 25 and analysts predict even

    Original URL path: http://www.makemoneyreviews.co.uk/news/british-inflation-woes.html (2016-02-12)
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  • Forex Enterprise Review | Make Money Online Fast | MakeMoneyReviews.co.uk
    EADS will also build commercial A330 freighters in the Alabama plant and even though there is despair in the rest of the United States the people of Alabama including their Governor Mr Bob Riley seem to be happy by EADS decision to set up the assembly plant in their city The Northrop Airbus mobile fuel tanker is even bigger than what was offered by Boeing and the Air Force believes that the ability of the Airbus plane to handle additional cargo fuel troops and offer more flexibility is what tilted the deal in their favor These fuel tankers called the 179 tankers will slowly replace the old KC 135 Boeing airplanes EADS had also quoted a very aggressive price in order to bag the contract The Head of the US Air Mobility Command General Arthur Lichte however maintained that since the airplane was assembled in the US it was an American tanker which would have the American flag painted on its tail and would be flown by American airmen Meanwhile rival Boeing already hit by a scandal that resulted in the jailing of its Chief Financial Officer Mr Mike Sears and a former US Air Force Acquisitions Officer Mr Darleen Druyun in the bungled 2001 tanker deal has to now face defeat in the present deal as well and might even appeal the current decision of handing the contract to EADS Already politicians from both the Republican and Democratic parties in the US are raising a hue and cry about the decision and promising action right from demanding an explanation from the secretary of Defence right up to taking the matter to the top most levels of the Pentagon in a bid to pressurize the Government to reverse the decision Their contention is that the planes should have been built

    Original URL path: http://www.makemoneyreviews.co.uk/news/british-airbus-contract-win.html (2016-02-12)
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  • Forex Enterprise Review | Make Money Online Fast | MakeMoneyReviews.co.uk
    are now under threat and the housing boom seems to have lost its momentum with some properties either losing the rise as compared to the inflation rates and some properties actually witnessing a fall in its market value due to an increase in the interest rates in the whole of Europe The report commented that the European housing market had slowed down noticeably due to the knock on effects of the interest policies of the European Central Bank and the interest rate increases in general The cooling off of the property market is set to affect around 300 000 Britons who have purchased a second home outside of Britain as many of them now struggle to pay off high mortgage loans As the market now changes from a sellers market to a buyers one property owners who are now paying more than double the interest of what they were paying four years ago are saddled with additional mortgage payments As a result hot properties such as those in Spain which had become quite famous due to tourists flocking to this Mediterranean heaven have now seen its growth come down to around 3 with chances of a further fall in the current year Even other countries such as Scandinavia and France are facing a similar situation There were also other countries such as Ireland where property prices actually declined by around 7 even though it had witnessed a massive boom before the previous years Since many Britons were also hard hit by rising inflation in Britain they tried to give out their properties abroad on rent in a bid to recover some of their investment back But this has only led to a glut of properties coming into the market and hence prices of to let properties have also come down

    Original URL path: http://www.makemoneyreviews.co.uk/news/US-property-infects-europe.html (2016-02-12)
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web-archive-uk.com, 2018-02-23