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.... It was triggered by the European Central Bank, which had declared that Banco Popular was “failing or likely to fail” – the first time a eurozone bank had been given this classification. Elke König, chair of the SRB, made clear the deal avoided a repeat of the 2008 crisis when taxpayers were forced to bail out banks. ... [Read full article on Guardian ]
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Latest Finance News related to Bail Out

Santander and RBS haunted by ghost of financial crisis image
Source : Guardian [Read Article] Wednesday 7th of June 2017 06:00:26 PM
.... It was triggered by the European Central Bank, which had declared that Banco Popular was “failing or likely to fail” – the first time a eurozone bank had been given this classification. Elke König, chair of the SRB, made clear the deal avoided a repeat of the 2008 crisis when taxpayers were forced to bail out banks. ...
Five minute guide to investing in the UK's big banks image
Source : Daily Express [Read Article] Sunday 21st of May 2017 12:01:00 AM
....Money back . There was public fury at having to bail out the profligate banks, but Chancellor Philip Hammond claims taxpayers have now recovered every penny spent on Lloyds, through selling off the shares to investors, plus £400million from dividend income. ...
Lloyds bank bailout repaid in full, says Philip Hammond image
Source : Guardian [Read Article] Friday 21st of April 2017 05:00:20 PM
.... It also does not take account of the £3. 6bn cost incurred to bail out out the bank, although the Office for Budget Responsibility has said it still expects the government to make £100m when fees from Lloyds are included. ...
How Britain can build a successful, lasting industrial strategy image
Source : Guardian [Read Article] Sunday 16th of April 2017 10:03:01 AM
.... Margaret Thatcher based hers on inward investment and the City of London. Ted Heath was as likely as Harold Wilson to bail out a lame duck. ...
US interest rate rise to deepen debt crisis in developing world image
Source : Guardian [Read Article] Monday 13th of March 2017 07:00:26 AM
....“The rapid increase in debt payments in many countries comes after a boom in lending, a fall in commodity prices, the rising value of the US dollar and now increasing dollar interest rates,” said Jones. He warned there was a danger that loans from the International Monetary Fund (IMF) and other lenders would be used to bail out “reckless lenders” who were at risk of not getting repayments from crisis-hit countries. ...
Instead of draining the swamp, Trump has become Wall Street’s best buddy | Will Hutton image
.... There is only one end: to regulate the links in the financial network so they have even less oversight than they do now. And, if things go wrong, Trump will have no hesitation in writing whatever cheques that have to be written to bail out the banks again, just as he backed the bailouts in 2008/9. ...
Brexit has allowed the banks to get off Britain's naughty step image
Source : Guardian [Read Article] Sunday 29th of January 2017 04:00:28 PM
....It is almost a decade since the financial crisis and barely a day has gone by without banks being in the headlines, invariably for the wrong reasons. Only last week, RBS – 73% owned by the state since its bail out in 2008 – announced it was taking a £3. ...
Obama's legacy image
Source : BBC [Read Article] Friday 13th of January 2017 12:03:44 AM
....Already heavily indebted, by the turn of the Obama administration it looked like they would simply run out of cash and cease operations within weeks. President Obama's decision to bail out General Motors and Chrysler with bridging loans and managed bankruptcies (Ford managed to turn itself around without government money) was deeply controversial. ...
Lloyds Bank buys MBNA credit card firm for £1.9bn image
Source : BBC [Read Article] Tuesday 20th of December 2016 07:29:36 AM
....The MBNA deal is the first acquisition for Lloyds since the banking giant took on collapsed bank HBOS in September 2008 in the midst of the financial crisis. However, that deal ultimately led to the government stepping in to bail out Lloyds, and it ended up with a 43% stake. ...
Council tax can rise by 3% a year to help fund social care – Javid image
Source : Guardian [Read Article] Thursday 15th of December 2016 01:28:55 PM
. Council tax will be allowed to rise faster than expected by about £46 a year for an average home to bail out struggling social care services for the elderly and vulnerable in England, Sajid Javid, the communities secretary, has said. ...
Government's Lloyds share sale takes stake to below 7% image
Source : Guardian [Read Article] Tuesday 13th of December 2016 08:13:07 AM
....5bn of the £20. 3bn of taxpayers’ money used to bail out the bank during the financial crisis. ...
Monte dei Paschi shares plunge on ECB reports image
Source : BBC [Read Article] Friday 9th of December 2016 03:02:27 PM
....Monte dei Paschi had sought a three-week extension until 20 January to seal a private sector €5bn rescue plan. If the ECB does deny the request, the Italian government will be under more pressure to bail out the country's third-largest bank. ...
Mitsubishi wants to triple executives' annual pay image
Source : BBC [Read Article] Thursday 1st of December 2016 09:59:02 AM
.... It has forecast a net loss of 145bn yen for the current financial year. In May, Nissan helped to bail out Mitsubishi Motors by taking a 34% stake in its smaller rival. ...
Pensions Regulator seeks 'multiples of £1m' from Chappell over BHS image
Source : Guardian [Read Article] Thursday 10th of November 2016 07:43:58 PM
....Lesley Titcomb, the chief executive of the Pension Regulator, has said she is still open to agreeing a settlement over the scheme’s funding. Last week, she said the warning notices had been issued after a “complex investigation” and the regulator was yet to receive a “sufficiently credible and comprehensive offer” to bail out the BHS pension scheme, which has more than 20,000 members. ...
Taxpayer bailouts for banks 'too big to fail' to end by 2022 image
Source : BBC [Read Article] Tuesday 8th of November 2016 12:36:11 PM
....The financial authorities in the UK and internationally decided that taxpayers should not be on the hook for failed banks in the future. "During the financial crisis, governments were forced to bail out failing banks, rather than risk the damage that a disorderly failure would have had on the wider economy and financial system," the Bank said. ...
Global banking watchdog warns over Chinese banks image
Source : BBC [Read Article] Sunday 18th of September 2016 08:30:53 PM
....3 trillion are at risk of default. However, as the Chinese banking system is largely owned or controlled by the government, analysts say the government would bail out the banking sector if necessary. ...
Hanjin seeks funds to free stranded cargo worth $14bn image
Source : BBC [Read Article] Thursday 8th of September 2016 03:09:25 PM
....5bn) worth of cargo stranded round the world following its collapse. Hanjin filed for receivership in South Korea last week after attempts to bail out the indebted company failed. ...
Up in arms image
Source : BBC [Read Article] Wednesday 7th of September 2016 11:21:38 PM
.... Lawmakers seem more open to introducing legislation which might make chaebols open up to outside ownership and management. In the Hanjin case, the government seems determined not to bail out the sinking shipper. ...
Hanjin bankruptcy: S Korea throws lifeline to shipping firm image
Source : BBC [Read Article] Tuesday 6th of September 2016 01:34:50 AM
.... Nobody is forecasting a big rise in demand for container shipping. The question may be whether the South Korean government is prepared to bail out a company which would find it hard to survive otherwise. ...

How Mandelson met Mugabe's finance minister months before Zimbabwe's $1.1bn loan plan
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....1 billion loan. Lord Mandelson has denied his visit was in any way linked to Lazard’s proposed bail out. ...

Saatchi boss resigns in a blaze of management-speak amid row over sexism in the advertising industry
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....Speaking on Radio 4’s Today programme, Kate Stanners, global chief creative officer at Saatchi & Saatchi, said: "Kevin is his own character and speaks in his own words… maybe there are roles that women feel more comfortable in and enjoy doing more, but I don’t believe in what he’s saying. "Women don’t bail out. ...
Saatchi boss Kevin Roberts resigns image
Source : BBC [Read Article] Wednesday 3rd of August 2016 10:28:20 AM
....Speaking on BBC Radio 4's Today programme on Monday, Kate Stanners, global chief creative officer at Saatchi and Saatchi, rejected the suggestion that women lacked ambition - saying Mr Roberts's comments had upset a "huge" number of employees. She said women "don't bail out, and do want the top jobs". ...
Saatchi boss row: Women want top jobs, says female executive image
Source : BBC [Read Article] Monday 1st of August 2016 09:46:39 AM
....Speaking on BBC Radio 4's Today programme, Ms Stanners rejected the suggestion that women lacked ambition - saying Mr Roberts's comments had upset a "huge" number of employees. She said women "don't bail out, and do want the top jobs". ...

People smugglers caught in sinking dinghy jailed for more than four years each
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....While the migrants had been forced to wade up to their necks through the icy water before getting on board and were not provided with buoyancy aids, the court heard how the smugglers themselves made sure they were wearing high visibility waterproof, warm weather clothing and slimline life jackets. When the coastguard helicopter and lifeboat crews arrived on the scene they discovered the migrants using a plastic container to desperately bail out the sinking vessel. ...
Select committee chief lashes out at Sir Philip Green over BHS sale image
.... Green declined to comment. Wright said: “When you sell a business do you have any further responsibility or do you start to crash it into the cliff and then bail out just before it does crash? Those are things we want to look at on the business select committee and we also want to see whether the system is fit for purpose in making sure we can create long-term value rather than making sure that people can extract value out of businesses to the detriment of employees and to the detriment, ultimately, potentially, of the taxpayer. ...
BHS paid more than £25m to owner in 13 months before administration image
Source : Guardian [Read Article] Monday 25th of April 2016 03:48:45 PM
....The Pensions Regulator has confirmed that it is investigating BHS, suggesting that it is considering whether to force Green to contribute to the pension scheme. The state-backed Pension Protection Fund is already in talks to bail out the pension scheme, although this will lead to members under the age of 60 suffering a cut to their benefits of at least 10%. ...
Port Talbot struggles to see a life beyond steel image
Source : Guardian [Read Article] Saturday 2nd of April 2016 03:00:06 PM
....”. Any attempt by Britain to bail out its steel industry by using state funds is likely to be met with fierce resistance by the European commission. ...
Unhappy returns as NS&I cuts premium bond prizes image
Source : Guardian [Read Article] Saturday 2nd of April 2016 06:00:01 AM
.... His intention was to reduce inflation and offer an alternative way to save – and, of course, they proved to be a huge success. However, news of the cuts may leave some fans wondering whether now is the time to bail out. ...
Port Talbot workers urge government to rescue site and save jobs image
Source : Guardian [Read Article] Wednesday 30th of March 2016 07:04:24 PM
....Paul’s view was echoed elsewhere in Port Talbot. Tomos Price, 27, a contractor at the site, said: “The government managed to find the money to bail out the banks that caused the recession. ...
Hinkley Point C: either call the plan off or set a deadline and stick to it image
....That is because events are out of his and EDF’s hands. Everything depends on the willingness of the French government to bail out an overindebted company that already faces the costly challenge of upgrading France’s nuclear generating capacity. ...
Why we should fear a cashless world | Dominic Frisby image
Source : Guardian [Read Article] Monday 21st of March 2016 09:30:04 AM
.... When Cyprus’s banks teetered on the cliff of financial disaster in 2011, we saw bail-ins. Ordinary people’s money in deposit accounts was sequestered to bail out the system. ...
Defence a new priority for Government, says BAE chief image
Source : Telegraph [Read Article] Thursday 18th of February 2016 07:49:10 AM
.... A computer-generated image of how the new Type 26 vessels will look  Photo: BAe Systems/MoD/PA. BAE was recently part of a consortium which underwrote a loan to bail out Sheffield Forgemasters, which makes parts for nuclear reactors used in the submarines BAE builds. ...
Safety check: Are our banks now safe? image
Source : BBC [Read Article] Monday 15th of February 2016 12:38:09 PM
.... . The consequence was that the ordinary tax payer, many of whom have probably never had a bonus in their life, had to bail out the banks and the bankers with hundreds of billions of pounds, most of it borrowed. ...
Why have bank shares fallen? image
Source : BBC [Read Article] Wednesday 10th of February 2016 03:53:42 PM
....Add it all up and it is clear that what Adair Turner (head regulator at the height of the crisis) said to me is true. The idea that the public will never again be called on to bail out the banks is not only untrue but, as he put it, a "dangerous" assertion. ...
Shares dive as fears mount for health of global banking image
Source : Guardian [Read Article] Tuesday 9th of February 2016 07:18:48 PM
....“Instead of simple and cost-effective regulations to counter distorted incentives that harm the economy, regulators have devised extremely complex regulations that may not bring enough benefit to justify the costs but will allow the pretence of action,” she said. Tony Greenham, director of economy at the RSA, doubts that governments have the cash to bail out banks a second time. ...
German finance minister and bank chief insist: Deutsche is 'rock solid' image
Source : Telegraph [Read Article] Tuesday 9th of February 2016 06:31:12 PM
.... Analysts have warned that if the bank has any large unexpected costs it may, from next year, be unable to pay the interest on its contingent convertible bonds (or “cocos”). The relatively risky class of securities - also known as AT1s - is designed to ensure that institutional investors pay the bill to help bail out any troubled bank, rather than the taxpayer. ...
Queensland miners' call for tax relief to save jobs is 'outrageous', say opponents image
....Queensland’s resources industry has called on the state and federal governments for help to save thousands of jobs after a study showed that a third of the state’s coalmines are running at a loss. Related: Queensland treasurer defends refusal to bail out Clive Palmer's nickel refinery. ...
The market that can’t decide – is Europe good for business or not? image
Source : Guardian [Read Article] Saturday 6th of February 2016 04:00:16 PM
....I believe we are better together and I hope that last week’s draft document goes some way to convincing others that Britain is better in Europe than out. David Cameron has made significant gains with the draft document that I have been impressed with, such as cutting red tape for business and the recognition that non-eurozone countries would not be required to bail out single-currency members. ...
‘Shocking delay’ into HBOS probe needs thorough response, MPs warn image
Source : Telegraph [Read Article] Wednesday 3rd of February 2016 01:47:08 PM
.... . The bank collapsed in 2008 and was bought by Lloyds, but the scale of its bad loans was such that the government had to step in to bail out the combined pair at a cost of £20. ...
Welcome to AUSTERITY Saudi Arabia: Crashing oil prices sends economy into meltdown image
....” Falling oil prices are pushing countries around the world into crisis. The IMF and World Bank is set to bail out Azerbaijan, which relies on oil and gas for around 95 per cent of exports. ...
We print money to bail out banks. Why can’t we do it to solve climate change? image
.... If the only problem facing climate financing was a lack of credit, it would have been solved a long time ago. A percentage of that spent to bail out private banks could pay for investments needed to stabilise the world’s climate. ...
Sale of Lloyds shares to public delayed image
Source : BBC [Read Article] Thursday 28th of January 2016 11:00:06 AM
....Mr Osborne told BBC News that his "principal concern" in deciding to postpone the sale was turbulence in the financial markets, despite "hundreds of thousands" of private investors being "interested". "I want to create a share owning democracy and I want to give the British people a chance to buy shares in Lloyds bank, a bank that they had to bail out. ...
Source : Reuters [Read Article] Wednesday 27th of January 2016 09:51:18 AM
.... We are fact based," Bailey told a financial conference in Dublin. Osborne has called for a "new settlement" with banks, widely interpreted by the financial sector as a peace gesture after years of banker bashing in Britain following the 2007-09 financial crisis when taxpayers had to bail out several lenders. ...
Osborne: 'We need every country acting as one in search of growth' image
Source : Guardian [Read Article] Friday 22nd of January 2016 12:01:04 AM
....”. Lagarde also held talks over the situation in Greece with the Greek prime minister, Alexis Tsipras, on the sidelines of the Davos meeting after which it became clear the European Union will need to provide significant debt relief for Greece if it is to persuade the Washington-based fund to back the third bail out. ...
George Osborne backs Christine Lagarde for second term at IMF image
Source : Guardian [Read Article] Wednesday 20th of January 2016 07:58:20 PM
....Awaiting the next IMF boss are a series of severe tests, including a global economic slowdown that several senior economists have warned could be a forerunner of a 2008-style crash. As lender of last resort, the IMF helped bail out Ireland, Portugal, Greece, Hungary and Iceland after the financial crash and could be called on to make another series of loans should the situation deteriorate. ...
Source : Reuters [Read Article] Tuesday 19th of January 2016 07:46:44 AM
.... . British Chancellor George Osborne called for a "new settlement" with banks last June, signalling he wanted to see an end to the banker bashing that has become a national pastime since the 2007-09 financial crisis forced British taxpayers to bail out several lenders. ...
Scrap guarantees for savers' deposits to avoid banking crises, says think tank image
.... . The UK Government was forced to bail out RBS and Lloyds in the wake of the financial crisis  Photo: Getty Images. ...
Collapsed Caparo faces pension fund black hole  image
Source : Telegraph [Read Article] Monday 11th of January 2016 08:07:16 PM
.... . The Pension Protection Fund (PPF), the Government-run lifeboat that protects retirement schemes of companies which have collapsed with insufficient funds to cover payouts, could have to bail out Caparo pension funds. ...
Denials and devaluation as China's currency tumbles to five-year low image
Source : Guardian [Read Article] Wednesday 6th of January 2016 03:48:32 PM
....China’s decision to set its benchmark for the yuan at a five-year low is such a moment. It makes clear what has been true since last August, namely that the Communist leadership believes it needs a low-valued currency to help bail out its ailing export industries. ...
Is Greece really on the road to recovery? image
Source : BBC [Read Article] Wednesday 23rd of December 2015 12:06:45 AM
.... . The government took the talks to the wire several times before agreeing to the terms of a bail out. ...
New blow for Rolls-Royce as top backer loses faith image
Source : Telegraph [Read Article] Saturday 19th of December 2015 05:30:08 PM
.... . Mr Buxton said that even though he had expected Rolls to cut its profit forecasts again, he was forced to “bail out” because of “the revelations” that accompanied the fifth alert. ...
Ukraine defaults on $3bn bond payment to Russia image
Source : Telegraph [Read Article] Friday 18th of December 2015 12:16:57 PM
.... . Prime Minister Arseniy Yatsenyuk said Kiev was imposing a moratorium on the note due December 20, which Russian President Vladimir Putin bought two years ago to bail out Ukraine’s former president just months before he was toppled. ...
Federal Reserve announces first rise in US interest rates since 2006 image
Source : Guardian [Read Article] Wednesday 16th of December 2015 07:00:17 PM
....“At a time when real unemployment is nearly 10% and youth unemployment is off the charts, we need to do everything possible to create millions of good-paying jobs and raise the wages of the American people. The Fed should act with the same sense of urgency to rebuild the disappearing middle class as it did to bail out Wall Street banks seven years ago,” he wrote in a blogpost. ...
Britain's big banks told to raise another £27bn in case of emergency image
Source : Telegraph [Read Article] Friday 11th of December 2015 03:16:32 PM
.... Officials hope that the extra buffers mean banks will not collapse, and if they do fail, the taxpayer will not have to bail them out as happened with RBS and Lloyds  Photo: Getty Images. The idea is to make sure that governments are never again forced to bail out an entire bank just to ensure that the vital part serving retail customers and the payments system continues operating. ...
Estonia pulls out of financial transactions tax as George Osborne threatens legal challenge image
....” . Mr Schaeuble said without treaty change and greater efforts to curb risk taking, Germany would go to court to block controversial plans for eurozone countries to bail out each other's depositors in the event of a bank collapse. ...
Help to buy will just hinder efforts to solve the housing crisis image
Source : Guardian [Read Article] Sunday 6th of December 2015 07:00:13 AM
.... In the summer budget, the chancellor limited some of the tax deductions landlords can claim, with the aim of levelling the playing field with owner-occupiers; and in the autumn statement, he clobbered buy to letters – and second home owners – with a 3% stamp duty surcharge. Meanwhile, the Bank’s financial policy committee, which has the job of preventing a future crash, worries that buy-to-let landlords could bail out quickly in case of trouble, and are more at risk if interest rates rise. ...
Tata nears deal on Scunthorpe steelworks image
Source : Telegraph [Read Article] Saturday 5th of December 2015 09:00:56 PM
.... It is understood Tata has also asked the Government for support to enable it to keep the business going. However, state aid is thought to be unlikely as the Government refused to bail out SSI’s Redcar steel plant. ...
Is the Celtic Tiger really ready to roar again? image
Source : Telegraph [Read Article] Saturday 28th of November 2015 12:00:57 PM
.... . The state was forced to bail out national banks, the construction sector imploded, public debt soared and Ireland haemorrhaged its well-educated labour force at an astonishing rate. ...
UK deficit figures: expect a new George Osborne conjuring trick image
Source : Guardian [Read Article] Friday 20th of November 2015 11:54:31 AM
....Equally, he will want to avoid a bigger battle with his backbenchers after his inept handling of planned tax credit cuts. His pre-election autumn statement last December predicted a rush of self-assessment tax returns in the next spring to bail out his flagging finances. ...
Up to 10 former HBOS executives could be banned over collapse, damning report finds image
.... . The bank collapsed in 2008 and was bought by Lloyds, but the scale of its bad loans was such that the government had to step in to bail out the combined pair at a cost of £20. ...
We must clean out the 'bad apples' in banks, admits Mark Carney image
Source : Daily Express [Read Article] Wednesday 11th of November 2015 04:54:00 PM
....About half the 400 guests secured their places through a four-times oversubscribed ballot and many more watched online including pupils from 300 schools who were treated to a special web seminar from the Bank earlier this week. Slack regulation of financial institutions is partly blamed for the 2008 global crash which forced UK taxpayers to bail out banks and triggered an economic downturn and prolonged austerity cuts. ...
Lonmin joins the list of corporate catastrophes image
Source : Telegraph [Read Article] Saturday 7th of November 2015 01:59:12 PM
.... . The request might not be so hard to stomach if this was the first time they’d been asked to bail out the company, but it’s not. ...
World trade is far too weak - let’s hope tech rescues it image
Source : Telegraph [Read Article] Monday 2nd of November 2015 07:27:26 PM
.... . Instead, we now have less globalisation, less financial trade, more government intervention and still no clarity on whether governments would bail out a bank that ran into trouble - and which governments would be on the hook, and for which parts. ...
RBS warns of difficult 'obstacles' stalling bank's recovery image
Source : Guardian [Read Article] Friday 30th of October 2015 09:35:15 AM
....McEwan justified the closures of more than 386 RBS and NatWest branches by pointing to the growth of digital banking. The bank’s branch network will shrink further next year when it carves out more 300 branches under the Williams & Glyn brand to comply with terms set out by the EU at the time of the bail out. ...
Recovering RBS clears path to dividends at last image
Source : Telegraph [Read Article] Saturday 24th of October 2015 07:00:51 PM
.... . The complex setup originated because the government did not want RBS to have to give up its stock market listing following the bail out – something which happens when one shareholder owns more than 75pc of the voting rights. ...
Broker tells investors to sell EDF shares because of Hinkley Point costs image
Source : Guardian [Read Article] Thursday 22nd of October 2015 12:42:27 PM
....But the state visit to Britain of the Chinese president, Xi Jinping, was used as a platform to effectively launch the Hinkley scheme that EDF now says will be funded by debt and not underwritten by UK government guarantees. Investec believes this will be difficult for EDF at a time when a new French energy law means the company must close some of its power stations while being encouraged to bail out its troubled engineering partner, Areva, through a merger. ...
Nuclear debate: 'It doesn’t matter where the money comes from' image
Source : Guardian [Read Article] Wednesday 21st of October 2015 03:30:01 PM
....Protestor Theo Simon, from Shepton Mallet in Somerset, said it was deeply disturbing that the Chinese would be so closely involved with Hinkley. “George Osborne has had to go to China to get them to bail out this project, hitching our nuclear energy future to the Chinese state for 100 years,” he said. ...

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