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City news in 250 words: Friday 6 August

Housing company falls apart, fraudulent millionaire sentenced and new big brother technology in parking lots

Published on August 6th 2010.

City news in 250 words: Friday 6 August

SALE AND RENT BACK HOUSING COMPANY COLLAPSES: UK Housing Alliance (North West) Ltd, based in Didsbury has gone into administration. The company bought houses from 375 homeowners and rented the properties back to them. Sellers would get 70 percent of the price up front and get the rest of it after renting the property for 10 years. Tenants have been told they may lose tens of thousands of pounds.

LOWRY CONMAN JAILED FOR FRAUD: A Cheshire millionaire who sold a fake Lowry painting for £230,000 was ordered to repay more than a £1m and serve a three-year jail sentence. Maurice Taylor, who bought the title Lord Taylor Windsor online, tricked auctioneers into believing the piece was genuine. He must pay the fine in 6 months or risk serving a 10 year sentence.

span style="font-weight:bold;">POLICE BLUNDER IN PEADOPHILE APPEAL: Police have apologised to a victim of convicted paedophile Andy Curran who made an emotional appeal to find him, not knowing he was already in custody. Curran, who abused boys between 1999 and 2003 at his home in Wythenshawe and on day trips to Cheshire, Wales and the Lake District, was convicted in April but didn't turn up for sentencing till 4 June.

BIG BROTHER CAMERAS IN CAR PARKS: NCP is trying out facial recognition technology in 40 Greater Manchester. Faces of people who enter any of the sites will be scanned to see if they match thieves in the company's database. The company faces criticism from privacy groups who believe the technology is invasive.

Out of the window weather forecast: Wet, cold, windy and gloomy, great weather to complain about.

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Leigh ScottAugust 6th 2010.

Equally to blame is the bank for the housing Uk North West position.
They should never have been allowed to get in to such debt; surely the business plan was reviewed at regular intervals by the bank before allowing such debt to spiral out of control?

Banks are still the first past the line of billions in profit though this week arn't they?

Come to think of it, why do we need banks? They dont lend to most of us nowadays and the savings rates are shyte and to rub it all in they have had our taxes supporting them as we pay back in tax increases for the next five years to compensate for the recession!

No - i'm putting all my money in the biscuit tin because on-balance I stand less chance of being charged to save it, charged to move it,charged to take it out, charged to spend it and invest it in purchases that offer us all a better return than the poor savings rates we are offered.

Visit http://www.moneyinthebiccitin.co.uk to purchase your one time only long term investment. prices strat at just 2.50 and gurantee never to rise in interest charges!

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