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Bradford & Bingley rights issue rescued

Bradford & Bingleyhas confirmed it is going ahead with its rights issue, revised again back up to £400 million from £258 million with the backing of major UK-based shareholders, including M&G Investment Managers, Legal & General Investment Management, Insight Investment and Standard Life Investments, with an unchanged price of 55p per share.

Rod Kent, executive chairman of Bradford & Bingley said, "Whilst we are disappointed that TPG intends to terminate its Subscription Agreement, I am pleased that Citi and UBS and our major shareholders continue to support our proposed capital issuance.

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Credit Cards News

Debit cards - the cards of choice

APACS' (the UK payments association) latest publication 'The Way We Pay 2008: UK Plastic Cards' shows that in 2007, for the 7th year running, debit cards continued to dominate consumer card spending, accounting for 62% of the total plastic card spending during the year.

Affordable credit made easier?

Economic Secretary to the Treasury, Kitty Ussher, has confirmed Government plans to make it easier for families to access the affordable credit options offered by credit unions by removing the red tape restricting the growth of the sector.

The £7.89 billion credit card spend

New research from Sainsbury's Credit Cards indicates that this summer, people are planning to spend an estimated £7.89 billion in the sales.

Credit crunch? What credit crunch?

Could the current economic climate, financial doom and gloom, be a myth? According to new research from life insurer Zurich, despite the testing market conditions, less than a third of consumers have reviewed their finances in light of the credit crunch (29%) and a fifth of people (21%) claim it's a term created by the media.

Consumer confidence slumps to record low

Rising costs and talk of falling property values have pushed Britain's consumer confidence to record lows, according to new figures released by market research company Nielsen and the British Retail Consortium (BRC).

Consumer confidence hits new low

The latest Nationwide Consumer Confidence Index (NCCI) shows UK consumer confidence ticking down 1 point in May to 69. This is the second consecutive new low and brings overall confidence to a level 30% lower than this time last year.

Consumers tempted into debt by cars

Cars are the biggest culprits when it comes to tempting people into spending beyond their means, according to a new survey by Experian, the global information services company.

Survey shows consumers are tightening their belts

Consumers are tightening their belts as they battle the credit crunch, according to a CBI survey published today. Service c

Shop around and save £thousands

Moneyextra.com's latest quarterly review of financial services highlights the savings available just by making the right financial decisions. The total annual savings available by replacing near-worst with near-best products across a range of financial services is now £3,363.841.