Latest News
30th September 2008
Investors would have passed rescue bill
24th September 2008
Students feel the pinch of the credit crunch
17th September 2008
Lloyds TSB seals merger with HBOS
Lloyds TSB is to merge with HBOS, creating a banking giant which will hold a third of the UK's savings and mortgage market.
Both firms' boards have agreed to a deal, at a price of 232p per HBOS
share, following talks.The deal should calm uncertainty about the
strength of Halifax-Bank of Scotland after a run on its shares.The deal
is set to be formally announced on Thursday morning, says BBC business
editor Robert Peston. The talks between the two banks were first reported
by the BBC earlier on Wednesday.With 20% of the UK mortgage market,
HBOS is currently the country's largest mortgage lender. Lloyds ranks
fourth with an 8% share.On the London market on Wednesday, HBOS shares
fluctuated wildly, climbing as high as 220p and falling as low as
88p.Shares in the lender eventually closed 19% lower, while Lloyds
ended unchanged at 279.75p.
14th September 2008
HSBC chief backs bank pay reform
Bankers'
pay needs to be reformed so they are no longer handsomely rewarded for
deals that turn bad, the chairman of HSBC has warned.
Chairman Stephen Green told the BBC that the banking industry was too focused on short-term profits.
He said that current pay schemes did not reflect long-term performance.
He indicated remuneration was one of the causes of the credit crunch as
some staff were paid too much for deals that ended up costing their
banks a fortune.
Banks worldwide have lost around $300bn (£170bn) from investments related to the sub-prime mortgage crisis.
Initially these bets on the sub-prime market, which lends to those with
poor or patchy credit histories, were very profitable for banks as
house prices rose and borrowers repaid their loans.
However, the market for mortgage-based securities turned sour last
summer as defaults rose and the value of these investments plummeted.
10th September 2008
Lehman in dramatic spin-off in bid to de-risk balance sheet
Lehman
Brothers has outlined a plan to spin off $30bn (€21.3bn) in mortgage
assets and confirmed it will sell a majority stake in its investment
management division in dramatic developments aimed at strengthening its
balance sheet, which should also dampen the volatility of its earnings
given the accounting treatment of the new mortgage vehicle.
7th September 2008
Trade Unions call for tax on the super rich
Top
trade unionist have forewarned Gordon Brown he faces a new attack from
the Labour left unless he takes on the 'super-rich' and distances his
government from its close relationship with the City and big business.
Brendan Barber, head of the Trades Union Congress, urged Brown to
ignore ‘intimidation’ from the City and to levy a windfall tax on
energy companies as well as make the very wealthy pay more in tax.
Barber, seen as a moderate in union circles, told the Financial Times he ‘cringed’ when he heard John Hutton, business secretary, calling for the country to celebrate millionaires.
He warned Brown he neglected ‘ordinary people’ at his peril and that
the government was not showing the ‘energy and urgency”’ trade
unionists would like to help them through the downturn.
What is Macclesfield Accountants?
Macclesfield Accountants.co.uk is designed to help you choose an accountant based in Macclesfield that will
improve and help you and your business.
What is an Accountant?
An accountant
is a practitioner of accountancy, which is the measurement, disclosure
or provision of assurance about financial information that helps
managers, investors, tax authorities and other decision makers make
resource allocation decisions.In many countries the designation accountant, or at least the more specific terms qualified accountant or professional accountant,
is a certified accountancy and financial expert. Like other legally
restricted professions including doctors and lawyers, different
countries have their own training and examination systems to maintain
the quality of qualified accountants in their jurisdictions. There are
many professional bodies for accountants throughout the
world.Accountants originally worked only in public practice, i.e.
professional accountancy firms, selling advice and services to other
individuals and businesses. Today, in addition, many work within
private corporations, the financial industry and various government
bodies.
What is Macclesfield
Macclesfield
is located in the east of Cheshire, on the River Bollin, a tributary of
the River Mersey. It is close to the county borders of Greater
Manchester, (to the north), Derbyshire, (to the east) and
Staffordshire, (to the south). It is near to the towns of Stockport,
(to the north), Buxton, (to the east), which is on the western edge of
the Peak District and to Congleton, (to the south). It is 30miles,
(45km), to the east of Chester, the county town of Cheshire. To the
west of the town lies the. The town is most famous for its once
thriving silk textile industry, commemorated in the local Silk Museum.
Although "Silk Town" seems to be the preferred nickname these days,
Macclesfield's traditional local nickname is "Treacle Town"—supposedly
from an incident where a merchant spilt a load of treacle on Hibel
Road, and the poor rushed out to scoop it off the cobbles. Another,
less picturesque, reason has it that the mill-owners used to provide
barrels of treacle to the un-employed weavers.
Why Would I Want An Accountant
Behind any successful entrepreneur you’ll find a business accountant who is, in the best possible sense, creative. A valuable accountant in Macclesfield
is not just someone who saves you tax. It's someone who can actually
help you increase your profits (even though this probably means paying
more tax!). It's someone who knows how to create new opportunities for
you, and how to help you exploit them.
We are all
in business to make money, yet we tend instead to focus on making or
doing things for money. Too often, much of our effort is wasted because
we don't concentrate enough on the finances. Macclesfield Accountants understand about pure money. Your job is to make it - theirs is to see you maximise it.
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