BFCSA Blog

    Continue reading the main story   The BCC said financial institutions needed to rebuild trust   Businesses' trust in banks and other financial institutions is falling, according to a survey from the British Chambers of Commerce (BCC). Half of the 1,560 businesses questioned said they mistrust banks and building societies, while 38% said they trust them less than a year ago. Banks and building societies remain the main source of finance for firms. Meanwhile, a separate survey revealed businesses' hiring intentions fell to a 28-month low in September. But the report from accountants BDO also said that business optimism showed a rebound this month, "continuing the zigzag pattern of ups and downs in confidence of the last four years". 'Repair relationships' The BCC survey said 57% of firms felt confident they could secure external finance, while 37% said they were not confident of doing so. Some 59% of those...

    Marching orders for middle income exiles   Updated: 2:25:19 PM, Wednesday October 03, 2012   By Robert GottliebsenFirst published 19 Sep in Business Spectator   Image: © japolia - Fotolia.com   Cracks in Sydney and Melbourne's middle class employment are starting to emerge, in the foretaste of a wider trend that could be a boon for Julia Gillard. The Eastern suburbs of Sydney and the inner city areas of Melbourne, both high to middle income havens, are showing signs of cracking. As we discussed, while most of the of the escalating middle income unemployment is hidden (See: "Invisible cuts to the middle class"), some clear surface signs are emerging. The eastern suburbs of Sydney have one of the highest proportion of people employed in the finance and professional services sectors in the country, around 80 per cent of households. Research by Brian Redican and Macquarie Bank shows that in...

This link below came in on a Trading News Feed & it was a rather interesting read. http://www.moneynews.com/Outbrain/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=FE8A-1 The comments I found of most interest were contained in the first section & then further down. "Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also...

Often when you tell people your story and plight with the banks or to the media- they comment - but you signed the papers. My next question to them is - so you think it is okay that fraud has been committed and that the Banks are profiting from it? Are you saying that the banks are above the law and should not be accountable to the rules set by the law of this country.  No matter which way you look at it - a crime has been commited and it needs to be investigated. Isn't that why we have laws for?  Crime is crime. No sugar coating of it or exceptions. When put that way to most people - they understand better and agree - if fraud has been committed - it needs to be investigated. So if you speak to the media - make sure you ask that question. Remain focused...