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Christopher asked: The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high? Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses. Big businesses then had to cut back on expenses and [...] The average credit card holder in Britain is now in over £2000 of debt. We spent years buying what we wanted when we wanted it but it’s clear from the slump in retail sales that the time has come to tighten our purse strings and rein in our spending. Here are a few tips on [...]
Approach and Landing at London City Airport As the recession deepens and the credit crunch continues to bite income and profits in the UKs financial services sector continues to fall. Profitability in the sector is declining at a record rate with around 55% of city firms reporting a fall. The CBI have said that [...] |
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