Ex-NBC Official Charged In Theft Federal authorities arrested a former NBC treasurer on charges of stealing more than $800,000 to finance private jet flights, liquor and a vacation home.... Read Full Article Retailers Post Robust March Sales But See Harder Days Rising gasoline prices, a rougher housing market and the possibility of higher interest rates are likely to make the retail business even tougher.... Read Full Article Wal-Mart Will Expand In-Store Medical Clinics The company will announce Thursday plans for several hundred new clinics at its stores, using a standardized format and jointly branded with hospitals and medical groups.... Read Full Article I.B.M. Earnings Up On Software Gains The company’s performance shows that it is making progress in its shift toward selling higher-margin software.... Read Full Article On The Road: Airlines Sharpen Sites For Web-Savvy Traveler With the growth of small-business and independent employee travel, booking sites are scrambling to serve this market.... Read Full Article |
Historical NewsPast Catches Up With the Queen of RoadsThe Appian Way, dotted with historical sites like the Villa of the Quintili, is facing chronic traffic congestion, vandalism and, some of its guardians grumble, illegal development.Read Full Article Homes at risk as banks seek more security for credit card debtHundreds of thousands of indebted Britons are at risk of losing their homes if they fall behind on their credit card and personal loan repayments after moves by the high street banks to protect their weakening balance sheets.<br/> <br/> The banks’ increasing concern about the risks of the implosion of Britain’s £1.4 trillion debt mountain has led to a huge surge in the number of court orders moving unsecured debt on to a basis that secures it against a borrower’s home.<br/> <br/> Figures from the Courts Service indicate that the use of charging orders by British banks surged by 580 per cent from 2000 to 2006, the most recent year for which figures are available. Industry sources say that the banks’ increasing use of the tactic to safeguard loans that they view as risky has accelerated since the credit crunch began last summer.<br/> <br/> Charging orders are sought by lenders through the courts when a borrower misses loan or credit card repayments. If a judge approves the applications, the debt becomes secured against the borrower’s home, to be repaid from the equity of its eventual sale. In extreme cases, lenders who have obtained a charging order apply to the courts to force the sale of the home.<br/> <br/> Historically, charging orders were used only as a last resort, but solicitors have confirmed that there has been a surge in interest in charging orders. One nationwide law firm that requested anonymity said that it applied for double the number of charging orders in 2007 compared with 2006 for clients that included high street banks.<br/> <br/> Michael Green, a partner in Weightmans, another firm of solicitors that specialises in debt recovery, believes that lenders are increasingly “twitchy” about bad debt. He said: “If people default on credit card payments or loans, then banks now want more security.” In 2000 there were 16,014 applications, rising to 92,933 applications in 2006. These have included applications from almost all the high street lenders, including HSBC, Alliance & Leicester, Nationwide and NatWest.<br/> <br/> Experts fear that overburdened consumers are struggling to cope with the combination of debt obligations and the rising cost of living. Borrowers in Britain owe £225 billion on credit cards and personal loans and spend 10 per cent of their income on interest payments.<br/> <br/> Chris Tapp, of Credit Action, the debt charity, said that banks have become less willing to write off debt via insolvency agreements, which explained the huge rise in charging orders.<br/> <br/> He said: “The slight fall in insolvencies recently could be linked to a policy by banks to chase debts by whatever means are available, including the courts, rather than simply allowing a debt to be written off.”<br/> <br/> Mr Tapp noted that, as mortgage lenders, most banks and building societies will also be aware of the huge rise in equity tied up in borrowers’ homes.<br/> <br/> Some homeowners who remortgage after fixed-rate deals end have found that surveyors are reducing the value of their properties, leaving them unable to take out larger loans.<br/> <br/> Eric Leenders, of the British Bankers’ Association, blamed smaller lenders for the increasing use of charging orders in recent years. He said: “This is a potential consequence of the redistribution of unsecured lending. Five years ago most lenders came from the banking industry, now just two thirds.”Read Full Article Media Talk: No Game About Nazis for NintendoDarkly illustrated and full of gruesome historical facts, a Holocaust-themed game called Imagination Is the Only Escape will not be distributed in U.S. markets.Read Full Article Cathay Pacific’s Profit Rose 72% Last YearDespite historically high oil prices, profits increased for the international air carrier on booming growth in Asia.Read Full Article New Generation Gap as Older Addicts Seek HelpAcross the country, substance abuse centers are reaching out to older addicts who have historically been ignored.Read Full Article External News for: historicalFire hits historic house in Newton - Boston GlobeBoston GlobeFire hits historic house in NewtonBoston GlobeNEWTON -- A fire tore through a historic mansion in Newton Centre causing extensive damage, according to ...19th-Century Home Destroyed By FireWCVB-TVall 4 news articles »Fire hits historic house in Newton - Boston GlobeBoston GlobeFire hits historic house in NewtonBoston GlobeNEWTON -- A fire tore through a historic mansion in Newton Centre causing extensive damage, according to ...19th-Century Home Destroyed By FireWCVB-TVall 4 news articles »A historical look at health care legislation - Washington PostA historical look at health care legislationWashington PostBy AP AP -1798: The Act for the Relief of Sick and Disabled Seamen in 1798 marks the beginning of federal involvement in health care. ...and more »Fire hits historic house in Newton - Boston GlobeBoston GlobeFire hits historic house in NewtonBoston GlobeNEWTON -- A fire tore through a historic mansion in Newton Centre causing extensive damage, according to ...19th-Century Home Destroyed By FireWCVB-TVall 4 news articles »A historical look at health care legislation - Washington PostA historical look at health care legislationWashington PostBy AP AP -1798: The Act for the Relief of Sick and Disabled Seamen in 1798 marks the beginning of federal involvement in health care. ...and more »NCAA women: UC Riverside looks to Stanford's historical footnote Saturday - Los Angeles TimesNCAA women: UC Riverside looks to Stanford's historical footnote SaturdayLos Angeles TimesThe Highlanders can take heart that the last time the Cardinal women had a No. 1 seeding in the NCAA tournament they lost to Harvard. ...and more » |
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