Britain’s £38bn Covid loans TIME BOMB: Government’s rescue schemes leave taxpayer facing huge bill By James Salmon for the Daily Mail Published: 23:21 BST, 16 June 2020 | Updated: 23:21 BST, 16 June 2020 Struggling firms have received more than £38billion in emergency money – fuelling fears that taxpayers will foot the bill for huge … Read more
French fashion giant Chanel is among foreign firms sharing £2.8billion of British taxpayers money in emergency loans, despite being owned by billionaires. The Paris-based doyen of fashionistas has been given £600million in Bank of England loans despite being owned by brothers Alain and Gérard Wertheimer, who have personal wealth estimated at £30billion. German chemicals giant … Read more
Struggling airlines tap up Bank of England for almost £2bn in emergency state-backed loans as they try to weather coronavirus crisis By James Salmon for the Daily Mail Published: 22:10 BST, 4 June 2020 | Updated: 22:10 BST, 4 June 2020 Struggling airlines have tapped up the Bank of England for almost £2billion in emergency … Read more
Britons pay £7.4bn off loans and credit cards in one month as spending falls during lockdown By James Salmon for the Daily Mail Published: 22:30 BST, 2 June 2020 | Updated: 23:20 BST, 2 June 2020 Nervous households took advantage of the lockdown to pay off a record £7.4billion in loans and credit card debt … Read more
Smaller firms STILL waiting for vital loans: One in five firms which have applied are still waiting for aid By Lucy White For The Daily Mail Published: 22:30 BST, 2 June 2020 | Updated: 23:22 BST, 2 June 2020 Banks have lent more than £30billion to 745,000 businesses under emergency schemes – but hundreds of … Read more
Britain’s largest guarantor lender Amigo Loans is being investigated by regulators over its lending practices. In an announcement to the London Stock Exchange, Amigo said the Financial Conduct Authority launched an investigation on 29 May into ‘whether or not Amigo’s creditworthiness assessment process, and the governance and oversight of this, was compliant with regulatory requirements.’ … Read more
Watchdog launches probe into ‘legal loan shark’ Amigo over whether it broke rules for responsible lending By Daily Mail City & Finance Reporter Published: 21:51 BST, 1 June 2020 | Updated: 22:12 BST, 1 June 2020 Amigo Loans is being investigated by the City watchdog over whether it broke rules surrounding responsible lending. The Financial … Read more
Small firms still waiting for vital loans with £18.5bn already lent through government’s emergency schemes By Lucy White For The Daily Mail Published: 21:50 BST, 27 May 2020 | Updated: 22:09 BST, 27 May 2020 Small businesses desperate for cash are still missing out on emergency loans, despite banks having lent £18.5billion. Lenders have been … Read more
Taxpayers set to be saddled with £10bn of bad emergency loans as 43% of borrowers say they do not expect to be able to pay them back By Daily Mail City & Finance Reporter Published: 21:51 BST, 21 May 2020 | Updated: 21:51 BST, 21 May 2020 Taxpayers could be saddled with bad loans worth … Read more
Gordon Ramsay takes out loans to save restaurant empire shuttered by the lockdown The TV chef, 53, has registered charges with Barclays against 16 companies The loans will provide a lifeline to companies which manage some of his outlets The beleaguered hospitality industry has been hit hard by the pandemic Here’s how to help people … Read more