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OFFICIAL interest rates are tipped to be slashed before Christmas as the worst global financial crisis in decades stirs fears about a possible recession in Australia next year. All 18 economists surveyed by AAP expect the Reserve Bank of Australia ...
Read moreLONDON (AP) _ Britain's business chief will tackle the problem of high consumer debt Wednesday by urging the credit card industry to stop practices that risk hurting households' finances at a time of economic uncertainty. These practices include ...
Read moreCredit card companies have agreed to give more help to borrowers struggling with their debt. The industry will report back to the Government in two weeks with a set of "fair principles" to help credit card borrowers manage their debts. The principles ...
Read moreNEW DELHI (Reuters) - "Credit is a devil that dances in empty pockets," was the advice P.V. Rajiv's father gave him when the young salesman swiped his new credit card for the first time to buy an expensive watch he could hardly afford. As someone ...
Read moreWASHINGTON - The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The new programs from the Federal Reserve and ...
Read moreTHE US Federal Reserve has dramatically stepped up its efforts to support strained credit markets, unveiling $US800 billion in new programs aimed at boosting consumer credit and the market for mortgage-backed securities. The new facilities will push ...
Read moreNov 26th, 2008 | LONDON -- Britain's business chief will tackle the problem of high consumer debt Wednesday by urging the credit card industry to stop practices that risk hurting households' finances at a time of economic uncertainty. These practices ...
Read moreCredit card companies have been warned they faced an investigation by the trading watchdog if they failed to stamp out bad practice. Business Secretary Peter Mandelson threatened to launch an Office of Fair Trading inquiry into the sector if it did ...
Read moreReporting from Los Angeles and Washington -- The federal government's new $800-billion initiative to revive the nation's credit markets and reverse the deepening economic crisis propels the government into risky territory -- the uncertain world of ...
Read moreNEW YORK (MarketWatch) -- The Troubled Asset Relief Program was supposed to be the financial equivalent of "the big one." Drop one on the banking system, and the credit crisis would surrender. Originally modeled on the Resolution Trust Corp. that ...
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