Having spoken with a sample of UK consumers Lloyds TSB can see how they are now feeling the pinch as the credit crunch and economic difficulties continue to affect lifestyles.
The view of the future is also seen rather negatively by those surveyed, with an expectation of inflation nudging the 3.8 percent mark in the next year. There were also worries about job security as they see costs spiralling for consumers and businesses. These views are part of the Lloyds TSB Consumer Barometer, where consumer views are reviewed on a monthly basis.
One of the biggest stresses facing the people of the UK are rising prices, with around nine out of ten people seeing prices up from the previous month. Roughly the same number expect to see this trend continue next month as well, further dampening their confidence in the future.
HSBC is continuing its progress towards acquiring the sixth biggest lender in South Korea, KEB, as it signs an agreement with the labour union.
The bank has already offered USD6.3 billion to KEB for a controlling interest, with this offer set to expire at the end of July. The HSBC has promised to retain all the staff and identity of the Korean bank and is hopeful that this latest agreement with the union will enable them to move forwards.
HSBC has always been seen as a global bank and this latest position highlights that fact. The bank really understands the needs of different cultures, aided by the fact that they work with the existing staff.
A study by the Abbey National Business Bank department has found that around a third of small business owners are worried about the coming 12 months.
They see their economic prospects for the period as being of concern and even poor according to the feedback received by the Abbey National. About 12 percent of respondents claimed to see an increase in clients not paying bills, with about thirty percent seeing payment delays.
On a positive note though the Abbey National also saw some 14 percent of small business owners feeling that economic difficulties will bring opportunities. It is all about perspective said a spokesman, that and the ability to effectively manage cashflow to maintain the business when money is slow to come in.
