Representatives from Virgin Money have been discussing the potential purchase of troubled Northern Rock, they being part of a larger consortium.
The plan, if accepted, will be to make an initial GBP 11 billion payment, via commercial debt providers, and then put in a further GBP 1.3 billion for fresh capital investment. At the moment Northern Rock appear to accept the proposal put before them although there are questions over the longer term risk that taxpayers would face on the outstanding debt position.
The government will no doubt acknowledge this risk but it will be mitigated in some way by the interest rate they will earn on it, bringing extra revenue in to cover the risk, to a certain extent anyway. Right now Virgin Money look like firm favourites to take the Northern rock situation on, though only time will tell if that is the case.
,p>The Alliance and Leicester current account offer that has a credit interest rate of 8.5 percent gross is being extended until the end of September according to a recent announcement.
The move has been made to encourage more consumers to save regularly, the high interest rate being a real eye catcher designed to highlight the benefits of saving. The accounts that are included in this Alliance and Leicester promotion are the Premier 50 and Premier Direct current accounts.
Younger savers also have an extension on their own promotion. The Alliance and Leicester Premier 21 account is a current account specifically for those aged between 16 and 21 which is offering a 10 percent interest rate during the promotional period.
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.
