View more on these topics

JP Morgan predicts 40,000 city job losses

Analysts from JP Morgan have predicted 40,000 jobs will be lost in the city during the next two years.

The forecast dwarfs estimates from the Centre for Economics and Business Research that up to 20,000 city jobs will be lost during the next two years.

In an interview earlier this week Harm Meijer, property analyst at JP Morgan and author of the report, says the figures from the CEBR are simply too optimistic.

The prediction adds 20,000 to JP Morgan’s December forecast of 20,000 job cuts in London’s financial district.

The firm, a leading American investment bank, bought ailing bank Bear Stearns for half its share value last month in an attempt to stave off a Northern Rock-style collapse in the USA.


GEMHL backs packagers

GE Money Home Lending says packagers are still a big part of its business and hopes to get more of them on board to offer its igroup range. The lender says it won’t cut its packaging panel and instead will work more closely with its members.

Unified approach can save the day

Some say it’s like the Wild West in the mortgage sector at the moment but thankfully we have our own magnificent seven.

AMPD guarantees proc fees

The Alliance of Mortgage Packagers and Distributors has radically altered the reporting and payment structure for members, to guarantee proc fees. AMPD members have agreed to report their financial position to independent auditors every six months and have committed to a set of payment standards which means that proc fees should take no longer than […]

Have you noticed the cost of living rising since the start of this year?

The Bank of England’s February report on lending to individuals revealed a dramatic £2.4m rise in the value of unsecured loans in a single month. This was the highest monthly increase for five years and economists are forecasting further rises in the cost of living soon due to increasing energy and food prices. So, this […]


News and expert analysis straight to your inbox

Sign up