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Financial News
Market Report: Aegis rises on talk of move by Bolloré - The Independent
The FTSE 250-listed media group Aegis was strong last night amid speculation about a possible bid or a break-up of the group after its chief executive, Robert Lerwill, steps down at the end of this month. Analysts said the business was ripe for ...

Game over? English football at bursting point - The Independent
Amid a frenzy of borrowing to pay the wages of international superstars– and build extravagant new stadiums – the most treasured clubs in the Premier League have been sold off to foreign investors. But as times get hard, English football could be ...

Carlsberg calls time on Leeds brewery - Times Online
Carlsberg, the Danish brewing giant, today confirmed that it will close its 186-year old brewery in Leeds and said that it had cut its full-year operating profit forecasts by 2.5 per cent. The beer maker, which acquired Scottish & Newcastle with ...

Carlsberg Cuts Forecast, Will Close British Brewery (Update3) - Bloomberg
Nov. 5 (Bloomberg) -- Carlsberg A/S , the Nordic region's largest brewer, lowered its full-year earnings and sales forecast and said it will cut jobs and close a U.K. plant amid ``deteriorating'' markets in northern and western Europe. Sales this ...

Recession watch - Guardian Unlimited
One of the leading names in Britain's pottery industry, Royal Worcester & Spode, has gone into administration. PricewaterhouseCoopers said it was seeking a buyer for the company which employs 388 people in the UK. Joint administrator and PwC partner ...

Carlsberg profit just below consensus; trims outlook - Guardian Unlimited
COPENHAGEN, Nov 5 (Reuters) - Danish brewer Carlsberg posted a 53 percent rise in third-quarter operating profit on Wednesday, slightly below consensus, and trimmed its 2008 earnings outlook due to weaker consumer sentiment. Carlsberg shares fell 7.2 ...

Darling details £50 billion bank bailout plan - Times Online
Chancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...

Hugo Radice: In plain language, a report of special pleading from the ... - yorkshirepost
AMID the hullabaloo over the Chancellor's Pre-Budget Report, it would be easy to overlook the publication of the report on the future of mortgage finance prepared by Sir James Crosby – the former chief executive of HBOS. But a moment's reflection ...

Bank of China sniffs HBOS - bbc
Bank of China , the giant Chinese bank, is the mystery bank that Jim Spowart and European American Capital hope will make an offer for HBOS to stymie the takeover bid from Lloyds TSB. It would be quite an event were it to happen. If Bank of China ...

Independent HBOS fight 'gaining pace' - Scotsman
THE fight to save HBOS as an independent bank is still on, one of the two "banking knights" hoping to ride to its rescue told The Scotsman last night. Sir Peter Burt, HBOS's former deputy chairman, said the battle to stop the proposed takeover by ...

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Today's Mortgage Terms starting with A

  • Accrued Interest: Interest earned but has not been paid
  • Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
  • Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
  • Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
  • Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
  • Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
  • Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
  • Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
  • Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.

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