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.... The stake was bought in 2008 at a cost of £45bn. The lender said it had no update on progress in talks with the US Justice Department over claims that it mis-sold mortgage securities in the build-up to the 2008 financial crisis. ... [Read full article on BBC ]
Friday 28th of April 2017 06:26:06 AM
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...."Colours have to connect with the zeitgeist of the times and that is what we work so hard at discerning," he says. He points out how the "vast movement of grey" began to emerge after the 2008 financial crisis. ... [Read full article on BBC ]
Tuesday 25th of April 2017 11:08:21 PM
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....37% up. The Cac's gains took it to its highest level since the financial crisis of 2008. ... [Read full article on BBC ]
Sunday 23rd of April 2017 09:16:09 PM
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....But Hewson said there was still “enormous resistance” among Australia’s asset owners because they tend to “take a very short-term focus, and rely on short-term remuneration, so they won’t take a medium to long-term challenge on easily”. Hewson said asset owners tended to have a “herd instinct” and many people saving for retirement haven’t focused on the risk of a climate-induced financial crisis and exercised their concern through choice of fund. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 08:00:15 PM
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....In particular, it said the UK Serious Fraud Office (SFO) intended to make a decision shortly about "matters relating to our capital raisings in 2008". This refers to a long-running SFO investigation into a cash injection received by Barclays from Qatari investors at the height of the financial crisis. ... [Read full article on BBC ]
Friday 28th of April 2017 06:36:15 AM
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....Government borrowing fell by £20bn to £52bn in the year to the end of March, according to official data. That was the lowest level since the financial crisis of 2008, the Office for National Statistics (ONS) said. ... [Read full article on BBC ]
Tuesday 25th of April 2017 09:21:26 AM
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....The government now holds less than 2% of Lloyds - down from 43. 4% when it was bailed out by the taxpayer at the height of the financial crisis. ... [Read full article on BBC ]
Thursday 27th of April 2017 06:33:36 AM
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....During Mr Obama's two terms as US president he at times seemed to have strained relations with the financial sector. He deplored high bonuses paid to bank executives, and said Wall Street shared blame for the 2008 financial crisis. ... [Read full article on BBC ]
Tuesday 25th of April 2017 09:15:09 PM
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....7% in 2015. It is the company’s worst UK performance since the 2008 financial crisis and follows six successive years of returns above 10%. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 05:00:42 PM
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. Sir John Vickers, who was asked to construct a safety plan for Britain's banks in the wake of the financial crisis, has warned regulators over hasty bank asset sales. ... [Read full article on BBC ]
Friday 28th of April 2017 02:26:12 PM
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....The reason for the discontent, perhaps, is that for the lucky few life is as sweet now as it was then. Giving a lecture at the IMF meetings, Raghuram Rajan, until recently the governor of the Reserve Bank of India, said the forces that were causing so much anger – automation and trade – had been at work for several decades but were now much more powerful because the global financial crisis had “delegitimised the system”. ... [Read full article on Guardian ]
Sunday 23rd of April 2017 02:02:46 PM
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.... It was introduced by the coalition government to tackle pensioner poverty and prevent retired households from falling behind. But recent evidence suggests that on average, retired people have tended to fare better than low-income working households since the onset of the financial crisis. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 09:00:47 PM
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....The latest accounts show that the company employed more than 1,250 people in London in the year to 30 April 2016, out of a global workforce of nearly 1,500, from New York to Shanghai. The company’s last big round of redundancies was in 2009 at the height of the financial crisis, when it cut about 300 jobs globally and closed offices in Berlin and Istanbul. ... [Read full article on Guardian ]
Monday 24th of April 2017 03:20:53 PM
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....5% in 2016. Consumers have been the main driver of UK economic growth since the financial crisis but there are mounting signs that the appetite for spending is beginning to wane. ... [Read full article on Guardian ]
Friday 28th of April 2017 07:15:39 AM
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. Government borrowing fell to the lowest level since the financial crisis in the year to the end of March as the economy proved more resilient than expected in the aftermath of the Brexit vote. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 10:39:40 AM
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. Royal Bank of Scotland has reported its first quarterly profit since 2015, as it looks to turn a corner after nine years of losses since its £45bn bailout during the financial crisis. ... [Read full article on Guardian ]
Friday 28th of April 2017 06:57:09 AM
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.... Earlier this month the regulator announced it was looking at the period when HBOS discovered the activities in the Reading branch. Dobbs will focus on whether Lloyds investigated the problems in Reading and reported them to the authorities when it rescued HBOS during the depths of the financial crisis. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 11:03:08 AM
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....Cheshire – who was boss of Kingfisher, owner of B&Q – is also facing a revolt. He is intended to become chairman of Barclays “ringfenced bank” – mainly the high-street operations – which must be set up by 2019 under rules intended to avoid a repeat of the 2008 financial crisis. ... [Read full article on Guardian ]
Thursday 27th of April 2017 06:37:05 PM
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....7bn predicted by the government’s independent forecaster, the Office for Budget Responsibility. That was a 28% drop from the previous year and the lowest gap since the eve of the financial crisis, helped by strong tax receipts as the economy continued to grow in the months following the Brexit vote. ... [Read full article on Guardian ]
Saturday 29th of April 2017 03:00:02 PM
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Latest Finance News related to Financial Crisis

Good and bad news from an economy in uncharted territory image
Source : Guardian [Read Article] Saturday 29th of April 2017 03:00:02 PM
....7bn predicted by the government’s independent forecaster, the Office for Budget Responsibility. That was a 28% drop from the previous year and the lowest gap since the eve of the financial crisis, helped by strong tax receipts as the economy continued to grow in the months following the Brexit vote. ...
'Fire sale' risk with Bank capital approach, says Vickers image
Source : BBC [Read Article] Friday 28th of April 2017 02:26:12 PM
. Sir John Vickers, who was asked to construct a safety plan for Britain's banks in the wake of the financial crisis, has warned regulators over hasty bank asset sales. ...
UK house prices fall again in April as buyers feel the pinch image
Source : Guardian [Read Article] Friday 28th of April 2017 07:15:39 AM
....5% in 2016. Consumers have been the main driver of UK economic growth since the financial crisis but there are mounting signs that the appetite for spending is beginning to wane. ...
RBS reports first quarterly profit since 2015 image
Source : Guardian [Read Article] Friday 28th of April 2017 06:57:09 AM
. Royal Bank of Scotland has reported its first quarterly profit since 2015, as it looks to turn a corner after nine years of losses since its £45bn bailout during the financial crisis. ...
Barclays profits more than double image
Source : BBC [Read Article] Friday 28th of April 2017 06:36:15 AM
....In particular, it said the UK Serious Fraud Office (SFO) intended to make a decision shortly about "matters relating to our capital raisings in 2008". This refers to a long-running SFO investigation into a cash injection received by Barclays from Qatari investors at the height of the financial crisis. ...
RBS reports first quarter profit as turnaround continues image
Source : BBC [Read Article] Friday 28th of April 2017 06:26:06 AM
.... The stake was bought in 2008 at a cost of £45bn. The lender said it had no update on progress in talks with the US Justice Department over claims that it mis-sold mortgage securities in the build-up to the 2008 financial crisis. ...
Barclays boss faces shareholder revolt over whistleblowing case image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:37:05 PM
....Cheshire – who was boss of Kingfisher, owner of B&Q – is also facing a revolt. He is intended to become chairman of Barclays “ringfenced bank” – mainly the high-street operations – which must be set up by 2019 under rules intended to avoid a repeat of the 2008 financial crisis. ...
Theresa May weighing up cheaper 'double lock' for pensions image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:00:47 PM
.... It was introduced by the coalition government to tackle pensioner poverty and prevent retired households from falling behind. But recent evidence suggests that on average, retired people have tended to fare better than low-income working households since the onset of the financial crisis. ...
Lloyds appoints ex-high court judge to review handling of HBOS fraud image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:03:08 AM
.... Earlier this month the regulator announced it was looking at the period when HBOS discovered the activities in the Reading branch. Dobbs will focus on whether Lloyds investigated the problems in Reading and reported them to the authorities when it rescued HBOS during the depths of the financial crisis. ...
Colour me image
Source : BBC [Read Article] Tuesday 25th of April 2017 11:08:21 PM
...."Colours have to connect with the zeitgeist of the times and that is what we work so hard at discerning," he says. He points out how the "vast movement of grey" began to emerge after the 2008 financial crisis. ...
Obama criticised for '$400,000 Wall Street speech' image
Source : BBC [Read Article] Tuesday 25th of April 2017 09:15:09 PM
....During Mr Obama's two terms as US president he at times seemed to have strained relations with the financial sector. He deplored high bonuses paid to bank executives, and said Wall Street shared blame for the 2008 financial crisis. ...
Most global investors recognise financial risk of climate change, report finds image
....But Hewson said there was still “enormous resistance” among Australia’s asset owners because they tend to “take a very short-term focus, and rely on short-term remuneration, so they won’t take a medium to long-term challenge on easily”. Hewson said asset owners tended to have a “herd instinct” and many people saving for retirement haven’t focused on the risk of a climate-induced financial crisis and exercised their concern through choice of fund. ...
Duke of Westminster's £12bn property firm hit by London slump image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:00:42 PM
....7% in 2015. It is the company’s worst UK performance since the 2008 financial crisis and follows six successive years of returns above 10%. ...
UK government borrowing at lowest level since 2008 financial crisis image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:39:40 AM
. Government borrowing fell to the lowest level since the financial crisis in the year to the end of March as the economy proved more resilient than expected in the aftermath of the Brexit vote. ...
Government deficit at lowest since financial crisis, says ONS image
Source : BBC [Read Article] Tuesday 25th of April 2017 09:21:26 AM
....Government borrowing fell by £20bn to £52bn in the year to the end of March, according to official data. That was the lowest level since the financial crisis of 2008, the Office for National Statistics (ONS) said. ...
Foster + Partners plans redundancies after Brexit uncertainty image
Source : Guardian [Read Article] Monday 24th of April 2017 03:20:53 PM
....The latest accounts show that the company employed more than 1,250 people in London in the year to 30 April 2016, out of a global workforce of nearly 1,500, from New York to Shanghai. The company’s last big round of redundancies was in 2009 at the height of the financial crisis, when it cut about 300 jobs globally and closed offices in Berlin and Istanbul. ...
Whatever the IMF thinks, we are a long way from the boom time of 2007 | Larry Elliott image
....The reason for the discontent, perhaps, is that for the lucky few life is as sweet now as it was then. Giving a lecture at the IMF meetings, Raghuram Rajan, until recently the governor of the Reserve Bank of India, said the forces that were causing so much anger – automation and trade – had been at work for several decades but were now much more powerful because the global financial crisis had “delegitimised the system”. ...
Family matters image
Source : BBC [Read Article] Sunday 23rd of April 2017 12:51:12 AM
....This is because incomes normally rise over time, as the economy grows. Then we had the financial crisis of 2008. ...
Lloyds: Taxpayers get all their money back after rescue image
Source : BBC [Read Article] Friday 21st of April 2017 05:01:52 PM
....Mr Hammond, speaking in Washington on Friday, said: "Recovering all of the money taxpayers injected into Lloyds marks a significant milestone in our plan to build an economy that works for everyone. "While it was right to step in with support during the financial crisis, the government should not be in the business of owning banks in the long term. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
.... The EU–US Privacy Shield is already providing a structure for the United States and Europe, but officials need to focus on building a framework that includes far more of the global economy. As the memory of the global financial crisis fades, it is critical that the lessons we learned from facing the abyss continue to impact our policy choices. ...
George Osborne: history will not be kind to a man whose flaws led to Brexit image
.... A political career that saw him become an MP before his 30th birthday, shadow chancellor before he was 35 and chancellor before turning 40 was effectively over at the age of 45. Osborne’s rise was smoothed by the financial crisis of 2007 and the deep recession that followed. ...
RBS stake may be sold at a loss, chancellor admits image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:01:26 PM
....The chancellor has admitted for the first time that the government is prepared to sell its stake in Royal Bank of Scotland (RBS) at a loss. The Treasury bailed out the bank by buying a 72% stake for £45bn, at 502p a share, at the height of the financial crisis in 2008. ...
Brexit, PPI and high cost credit are top priorities for City watchdog image
Source : Guardian [Read Article] Tuesday 18th of April 2017 05:32:29 PM
....As well as supporting the government’s withdrawal from the EU, the FCA listed a number of other priorities for the coming year including alerting customers to the August 2019 deadline to lodge claims for payment protection insurance (PPI), protecting vulnerable customers, continuing to scrutinise high cost credit and looking at the way people save for pensions. The FCA pointed to customers locked in to mortgage deals they signed before the financial crisis, which they would not be offered now under a new regime requiring lenders to assess the affordability of the loan. ...
Philip Hammond admits taxpayers' RBS stake is likely to be sold at a loss image
....”. He has previously described the stake as a long-term asset and any further sell-off as being hindered by the uncertainty surrounding selling off 300 branches as mandated by the EU and a fine by the US for mortgage bond mis-selling in the run-up to the financial crisis. ...
IMF says pace of global economic growth is picking up image
Source : BBC [Read Article] Tuesday 18th of April 2017 01:01:41 PM
....However, the dominant tone of the report is rather sunnier than it has been for some time. For much of the period since the financial crisis of 2008 the IMF has worried that the recovery was failing to generate momentum. ...
IMF ratchets up UK economic growth forecast to 2% image
Source : Guardian [Read Article] Tuesday 18th of April 2017 01:00:29 PM
....Obstfeld said: “One salient threat is a turn toward protectionism, leading to trade warfare. Mainly in advanced economies, several factors – lower growth since the 2010–11 recovery from the global financial crisis, even slower growth of median incomes, and structural labour-market disruptions – have generated political support for zero-sum policy approaches that could undermine international trading relationships, along with multi-lateral cooperation more generally. ...
Londoners work 'three weeks a year more than rest of UK' image
Source : BBC [Read Article] Tuesday 18th of April 2017 02:14:56 AM
....Londoners spend about three weeks more at work a year than the rest of the UK, according to new data. The Office for National Statistics (ONS) figures show the average working week in London is 33 hours, the longest since the 2008 financial crisis. ...
Libor rigging: chancellor urged inquiry into Bank of England allegations image
....Libor is used as a reference point around the world for loans and mortgages and is set each day by a panel of leading banks, with each one submitting the rates at which it is willing to borrow. Revelations that the rate was rigged at the height of the financial crisis have led to banks being fined hundreds of millions of pounds from a variety of regulators, while bankers from Barclays and UBS have been jailed. ...
United Airlines shows why it's time to deplane corporate-speak image
Source : Guardian [Read Article] Sunday 16th of April 2017 05:59:23 AM
....In his defence, Staley appears to have been trying to protect a friend who he felt was being harassed. However, after the events of the financial crisis it is essential that bankers follow best practice and that those who flout the rules are punished. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
.... At least that is what they honestly believe. They argue that higher interest rates will restore a lost balance in the economy – taking it back to the way it was before the financial crisis, when things were so much better. ...
Credit Suisse bosses slash bonuses 40 percent image
Source : Guardian [Read Article] Friday 14th of April 2017 03:10:01 PM
....Credit Suisse’s shares have lost more than 11% of their value over the past year. Excessive boardroom pay has moved up the British political agenda since the financial crisis of 2008. ...
Banks cracking down on lending after borrowing binge, survey finds image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:53:17 PM
....Its poll of all the main high street lenders showed they had cut access to credit in the opening months of this year and plan to limit it further. The proportion of lenders expecting to restrict access to credit between April and June was the highest since the financial crisis in 2008. ...
Trump's trade barriers would be self-inflicted wound, says IMF chief image
Source : Guardian [Read Article] Wednesday 12th of April 2017 10:15:57 AM
....“At the same time, there are clear downside risks: political uncertainty, including in Europe; the sword of protectionism hanging over global trade; and tighter global financial conditions that could trigger disruptive capital outflows from emerging and developing economies,” Lagarde said. Weak productivity remained a severe drag on strong and inclusive growth, she added, largely because of population ageing, the slowdown in trade and weak private investment since the financial crisis. ...
Judges reject US banker's claim to be a genius in divorce case image
Source : Guardian [Read Article] Tuesday 11th of April 2017 01:07:22 PM
....5bn fortune. Holman had ruled that although Work was an “astute businessman”, Gray was a “highly intelligent” woman who had given up her career to follow her husband to Tokyo, where he made hundreds of millions of pounds exploiting the Japanese financial crisis. ...
Inflation is only going one way. Let's hope interest rates don't follow | Larry Elliott image
.... Meanwhile, the MPC keeps its fingers crossed and hopes for the best. The impact of the financial crisis that began almost 10 years ago is well documented. ...
UK house price growth 'picking up' image
Source : BBC [Read Article] Tuesday 11th of April 2017 09:33:40 AM
....The CML said borrowing in January and February was the strongest for 10 years. In all, 93,200 loans were taken out in the first two months of the year, the highest number since the financial crisis. ...
What is behind Toshiba's financial crisis? image
Source : BBC [Read Article] Tuesday 11th of April 2017 12:12:31 AM
...
BBC to air recording that implicates Bank of England in Libor scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:45:56 PM
....Libor is used as a reference point around the world for loans and mortgages and is set each day by a panel of leading banks, with each one submitting the rates at which it is willing to borrow. Revelations that the rate was rigged at the height of the financial crisis have led to banks being fined hundreds of millions of pounds from a variety of regulators, while bankers from Barclays and UBS have been jailed. ...
The secret recording implicating the Bank of England in Libor rigging image
....A secret recording that implicates the Bank of England in Libor rigging has been uncovered by the BBC. The 2008 recording adds to evidence the central bank repeatedly pressured commercial banks during the financial crisis to push their Libor rates down. ...
Bank of England implicated in Libor recording image
Source : BBC [Read Article] Monday 10th of April 2017 08:50:52 AM
....A secret recording that implicates the Bank of England in Libor rigging has been uncovered by the BBC. The 2008 recording adds to evidence the central bank repeatedly pressured commercial banks during the financial crisis to push their Libor rates down. ...
Libor: Bank of England implicated in secret recording image
Source : BBC [Read Article] Sunday 9th of April 2017 11:01:47 PM
.... . The 2008 recording adds to evidence the central bank repeatedly pressured commercial banks during the financial crisis to push their Libor rates down. ...
The Guardian view on productivity: Britain must solve the puzzle | Editorial image
. No developed country has been immune to the slowdown in productivity growth since the financial crisis, but Britain has been particularly hard hit. ...
Low interest rates put global financial sector at risk, IMF warns image
Source : Guardian [Read Article] Thursday 6th of April 2017 02:30:06 PM
....A prolonged period of low interest rates will tempt banks to take greater risks and sound the death knell for final salary pensions, the International Monetary Fund has warned. A new study from the IMF said a continuation of the cheap borrowing environment seen since the global financial crisis a decade ago would pose a “significant challenge” to financial institutions and force them to make fundamental changes to their business models. ...
Why BlackRock wants to pay George Osborne £650,000 a year | Nils Pratley image
.... And, while Fink preaches a gospel of long-termism and sustainability – a refreshing antidote to old-style Wall Street excess – BlackRock’s size means it is constantly in the midst of political and regulatory debates. BlackRock’s closeness to politicians has also come under the spotlight in the past, notably during the financial crisis of 2007-09, when the US administration turned to the firm for help in analysing and solving the meltdowns at investment bank Bear Stearns, giant insurer AIG and government-backed mortgage lenders Fannie Mae and Freddie Mac. ...
UK keen for free trade deal with Australia, Liam Fox tells Canberra MPs image
Source : Guardian [Read Article] Wednesday 5th of April 2017 08:00:15 PM
....”. But Fox suggests concluding an FTA with Australia is part of strategic efforts by the two countries to push back against the protectionism which has manifested in the wake of the global financial crisis of 2007-08. ...
The Guardian view on rising personal debt: more prudence please | Editorial image
.... The twin pressures of rising inflation and slowing pay rises are squeezing household incomes. The ratio of personal debt to household income, which fell steadily in the years after the financial crisis, has now again begun to rise. ...
Is there a housing bubble or isn't there? | Greg Jericho image
Source : Guardian [Read Article] Wednesday 5th of April 2017 02:00:07 PM
....The rise in the level of household debt and housing debt over the past few years has been large, but not unprecedented:. In the 1990s and early 2000s (before the global financial crisis), Australians gorged themselves on debt. ...
Weak productivity leaves UK trailing other G7 nations image
Source : Guardian [Read Article] Wednesday 5th of April 2017 11:19:49 AM
. Britain’s poor productivity performance before, during and after the financial crisis of a decade ago has left a gap of 16% with the other six members of the G7 group of industrial nations. ...
UK services sector beats forecasts buoyed by new work image
Source : BBC [Read Article] Wednesday 5th of April 2017 09:28:30 AM
....2% compared to the same period in 2015. However, the Office for National Statistics said the rate remained below the pre-financial crisis average. ...
Donald Trump tells banks he will give laws a 'haircut' image
Source : BBC [Read Article] Tuesday 4th of April 2017 09:50:19 PM
. President Donald Trump has promised sweeping reforms to "horrendous" US banking regulations that were introduced after the financial crisis. ...
RBS plan faces European Commission investigation image
Source : BBC [Read Article] Tuesday 4th of April 2017 03:42:35 PM
....The European Commission has begun a month-long in-depth investigation, inviting the UK government as well as others to submit their views. Commissioner Margrethe Vestager, in charge of competition policy, said: "RBS is the leading bank in the UK SME banking market and received significant state support during the financial crisis. ...
Lloyds to shrink hundreds of UK branches to two staff image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:29:14 PM
....The sale means more than £20bn has now been returned to government coffers since the lender’s £20. 3bn bailout at the height of the financial crisis in 2008. ...
Global productivity slowdown risks creating instability, warns IMF image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:56:41 PM
....The head of the International Monetary Fund has issued a stark warning that living standards will fall around the world unless governments take urgent action to increase productivity by investing in education, cutting red tape and incentivising research and development. Christine Lagarde used a speech in Washington to tell policymakers they could not simply wait for innovation to drive up productivity growth and help living standards recover from the legacy of the global financial crisis. ...
Eurozone unemployment rate drops to near eight-year low image
Source : BBC [Read Article] Monday 3rd of April 2017 09:51:42 AM
....France, the second-biggest economy in the eurozone, was stuck at 10%. At the height of the financial crisis, unemployment in the eurozone peaked at 12. ...
Serious Fraud Office boss warns big names to play ball – or else image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....The SFO’s investigation centres on whether £2bn that Barclays lent to Qatar was then returned to the bank as part of the £7. 3bn bailout that saved Barclays at the height of the financial crisis. ...
Central banks 'must communicate better to regain trust' image
Source : BBC [Read Article] Friday 31st of March 2017 09:14:41 PM
.... . "First, the global financial crisis has dealt a trust-busting blow to many institutions, including central banks," he said. ...
The UK must not let this Brexit crisis go to waste. Nor must the EU image
Source : Guardian [Read Article] Friday 31st of March 2017 01:53:07 PM
.... That might have been true when the UK joined what was then the European Economic Community in 1973, but it is not the case today. Europe has taken longer to recover from the financial crisis than any other part of the developed world; four of its countries have needed emergency bailouts; one of its founder members, Italy, has seen living standards stagnate for two decades. ...
Government raises £11.8bn with Bradford & Bingley mortgage sale image
Source : Guardian [Read Article] Friday 31st of March 2017 09:15:51 AM
....The chancellor has triggered the sale of an £11. 8bn package of Bradford & Bingley loans bought by the taxpayer at the height of the financial crisis. ...
Bradford & Bingley mortgage sale raises £11.8bn image
Source : BBC [Read Article] Friday 31st of March 2017 06:57:25 AM
...."The sale of these Bradford & Bingley assets for £11. 8bn marks another major milestone in our plan to get taxpayers' money back following the financial crisis," Chancellor Philip Hammond said in a statement. ...
Leading City firms begin to lay groundwork for London jobs exodus image
Source : Guardian [Read Article] Thursday 30th of March 2017 01:06:02 PM
....The US investment banks JP Morgan and Citigroup sent memos to their staff confirming that they were exploring options regarding the location of their operations. JP Morgan is in talks to acquire a site in Dublin’s Capital Dock from the developer Kennedy Wilson and the National Asset Management Agency, which was created by the Irish government after the financial crisis to buy property loans from banks. ...
The Guardian view on house prices: the government lacks the political will to fix the broken market | Editorial image
.... This is an area where ministers fear their own success. What government truly wants to preside over years of flatlining house prices at the expense of relatively affluent homeowners in the south-east? Almost 10 years after the financial crisis, economic growth remains too fuelled by the consumer debt enabled by rising house prices, and too little by long-term investment. ...
Tesco and Serious Fraud Office near to deal over accounting scandal image
Source : Guardian [Read Article] Monday 27th of March 2017 05:46:01 PM
....The SFO is also close to making a decision on whether to formally charge Barclays and former senior executives at the bank over a £7. 3bn bailout from the Middle East at the height of the financial crisis. ...
May's 'global Britain' gets boost as Qatar looks at £5bn investment image
Source : Guardian [Read Article] Monday 27th of March 2017 05:10:53 PM
....“The way we look at our investment in any market, and especially in the UK, it is a very long-term investment, so we don’t look at any cycles up or down. So if you are talking about Brexit, I can go back to the financial crisis and tell you the same stories. ...
Is being fined 1% of its profits just a mild irritation for BT? It looks like it | Stefan Stern image
....The failure to regulate effectively and, where necessary, punish businesses meaningfully has created moral confusion among some executives and anger among citizens. The financial crisis of 2008 led to sustained austerity for millions but few severe penalties (and no loss of liberty) for the banking executives who oversaw it. ...
UK's borrowing binge is worrying the Bank of England image
Source : Guardian [Read Article] Monday 27th of March 2017 02:29:00 PM
....Threadneedle Street is worried about these trends – and rightly so. Household debt as a proportion of national income peaked at 160% at the time of the financial crisis and fell only modestly thereafter. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
.... On the last stop of the tour, they inflated a giant pig outside the offices of AQR Capital Management, an investment firm that received a $35m state handout after it threatened to leave Connecticut. AQR’s founder is Cliff Asness, a hardcore libertarian with a $3bn fortune who believes blame for the financial crisis rests squarely on “all-intrusive” government intervention. ...
Populism is the result of global economic failure image
Source : Guardian [Read Article] Sunday 26th of March 2017 01:23:10 PM
.... Populism is the result of economic failure. The 10 years since the financial crisis have shown that the system of economic governance which has held sway for the past four decades is broken. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
....A failure to agree a deal will mean that Co-op is put into “resolution” by the Bank of England. This process, based on a blueprint drawn up in the wake of the financial crisis, would involve transferring some of the bank’s business to a third party or forcing bondholders to recapitalise the firm with a “bail-in”. ...
What Next for shops? image
Source : BBC [Read Article] Thursday 23rd of March 2017 01:21:33 PM
.... . Back at the start of the financial crisis in 2008, the number of retailers exiting the High Street seemed unstoppable. ...
Next sees first annual profit fall in eight years image
Source : BBC [Read Article] Thursday 23rd of March 2017 07:24:09 AM
.... . The profit drop in 2016 was the first for the retailer since the financial crisis of 2008. ...

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