Over 6 million UK households have been identified as financially vulnerable by the Consumer Credit Counselling Service (CCCS).

A study by the national debt charity found that 3.2 million households are “already in financial difficulty”, classed as being three months or more behind with debt payments or facing action from creditors, while a further 3 million are finding it difficult to make ends meet and are “at risk” of getting into problems.

The CCCS Debt and Household Incomes report paints a worrying picture of vulnerable families struggling to cope with the effects of the stagnant wages, benefit cuts and soaring prices.

The analysis of CCCS client data, carried out by the Financial Inclusion Centre (FIC) on behalf of the charity, showed that lower income households, those earning up to £13,500 a year, have unsecured debts totalling 20% more than their annual income.

Over a third of lower-medium and medium-higher income households, those earning between £13,500 and £25,000 a year, have no money left at the end of the month to service their unsecured debt.

Families earning between £25,000 and £50,000 owe 95% of their annual income in unsecured lending. A quarter of

Read more…

• 0 Comments

Nowadays it is very difficult to come to a decision that has something to do with money. Cash has been very popular all over the world. Many want it and several people even adore the things that money could do for them. However in times during the emergency money sometimes becomes very invisible. It is indeed painful to get caught in any forms of accidents especially if you don’t have any money left to manage the things that it left you. It becomes an extra burden to the family to become part in any forms of mishaps particularly when it comes to money issues.

There are even people who became really stiff when it comes to money. Theyd even choose to risk the safety of their family just to insure that they still have money remaining. It is a good sign of valuing money however it is not to risk the lives of the loved ones in exchange for money. C

Read more…

• 0 Comments

Plans by Venezuelan state oil company PDVSA to export LNG produced from large offshore reserves are a non-starter due to the country’s ongoing gas deficit, the company’s former president Luis Giusti told BNamericas.

“I don’t believe it. They can’t even meet their own demand. If you look at the western side of the country, petrochemical plants there aren’t working because they can’t get enough gas,” Giusti said on the sidelines of the BNamericas Andean Energy Summit in Bogot.

Despite the ongoing need to import gas from neighbor Colombia, Venezuela’s government has long spoken of its desire to launch an LNG export program through PDVSA.

Authorities have previously said that operations could start in 2014, when production from the giant offshore Mariscal Sucre gas project comes online. Production from the offshore fields which form part of the project is expected to reach 2Bf3/d (56.6Mm3/d).

Read more…

• 0 Comments

The summit, which will start at 1000 GMT, could prove a critical moment in determining what role private sector creditors play in further aid to Greece, and how EU leaders will stem the threat of debt contagion to Italy and Spain.

“Our agenda will be the financial stability of the euro area as a whole and the future financing of the Greek program,” Van Rompuy said in a statement posted on Twitter.

“I have asked the preparatory work to be brought forward inter alia by the finance ministries,” he said, indicating that senior finance officials would meet ahead of time, probably on Wednesday July 21, to agree the agenda. With th

Read more…

• 0 Comments

Brazil’s power supply is secure for the next 10 years with most planned generation projects already being built and new auctions to take place soon, a spokesperson for federal energy planning company EPE told BNamericas.

“The country will see an expansion in power supply of 61GW in the next 10 years and most of it, at around 42GW, has already been hired.”

Power to be generated from projects such as the 11.2GW Belo Monte, 3.75GW Jirau and 3.43GW Santo Antônio hydros were considered hired in EPE’s calculation.

The country will also see an expansion of 42,553km in new transmission lines. Brazil has 99,649km of existing lines.

EPE’s spokesperson also said new power auctions will take place this year and in 2012.

According to an EPE estimate, by 2020 83% of the country’s energy matrix will consist of renewable sources, 67% from hydro power, a drop from its current 75% share.

Read more…

• 0 Comments