Barclays saw a drop in profits of a third for the first half of the year, with write downs impacting seriously on the bottom line. Barclays Insurance though, a division of the bank, performed very well. The bank still made profits of GBP2.75 billion despite the write downs and, even though the bank itself was disappointed, industry analysts felt this was better than could have been expected. Other financial institutions have suffered much more dramatic cuts than Barclays, insurance and other sectors helping support the bank. Looking forwards the Barclays management team are expecting trading conditions to remain testing and are advising the market that it could be some time before they are back to previous levels of profitability. Barclays Insurance, having performed very well, may actually see some parts of it sold to bolster the balance sheet.
According to a money advice service payday loans are a bad idea when it comes to borrowing money. Consumers may want to use a payday loan service to help with their financial matters, but with extremely high rates of interest for borrowers, it is a really expensive way to borrow money. Consumers may think that it is nice to have a bit of additional cash or want to make a large item purchase, but with interest rates into the thousands percent, it really is a very expensive way to borrow and consumers should maybe look at an alternative with of credit such as a credit card. Always check out other options before looking at payday loans, such as credit cards or bank overdrafts. Most people should be able to use these other methods of credit until next month’s payday. A recent study also revealed that nearly half the UK’s population have problems making their monthly income last until the next payday, and that is why payday loans seem like the right choice to help with their money matters. See our loans comparison table for the latest offers. Plus, reading our guides and tips pages can offer consumers more detailed information and money saving hints.
Research carried out by the Alliance and Leicester has found that around 38 percent of small business organisations are run by the owner with the support of their partner. Partners can be found in a variety of roles around the business, especially administration and operations. This enables them to have an overall understanding of the business whilst being fully supportive of their managing partner. The Alliance and Leicester research also revealed that around 35 percent of couples share the decisions on finance in the business. An Alliance and Leicester spokesman felt that this approach to business showed how committed both partners were to making their organisation successful. He felt that this approach enabled them to share some of the stresses, making them easier to deal with, and also the highs, bringing a sense of achievement for both of them.