Banks

CEO Ian Gorham explained that investment firm Hargreaves Lansdown has benefited, at least in part, from the dubious schemes of the London banks.  He boldly said that the company’s six month results “demonstrate that a reputable company can, even in this climate, add genuine benefit to the UK economy and public, whilst paying its taxes […]

Option to issue RBS sharesto UK citizens remains “open”. Vince Cable, the UK’s Business Secretary, has argued that government-held Royal Bank of Scotland shares could be divided amongst UK citizens. Speaking in an interview with the BBC Dr Cable said whilst there was “no immediate prospect” of the troubled bank returning to the private sector […]

A week before it releases its full year results for 2012, Barclays plc (LSE:BARC) announced it has set aside an additional £1 billion to cover for the bank’s redress over mis-sold payment protection insurance (PPI) and interest rate hedging products sold to small and medium-size enterprises, UK’s second largest bank said on Tuesday. The bank, […]

What is the major outlook on the Pound Sterling versus the Euro (FX:GBPEUR)? The major outlook is bearish, and apparently there is no way around this bias, for the bear is in power and the bull is morbidly fearful. The fear of the wolf is what will kill the dog. The downwards trendlines show a […]

Chancellor George Osborne introduced his Banking Reform Bill to Parliament today, but not before giving the public a good look at it in a speech this morning at JP Morgan in Bournemouth. In this writers opinion, the changes put forth can come none too soon.  We often refer to the 2007 banking crisis. It’s been […]

UK Chancellor supports measures to break-up banks that don’t reform Banks that fail to comply with new regulations to protect investment operations from high-street banking will risk being broken up, UK Chancellor of the Exchequer George Osborne has announced. By calling for “open markets with clear rules, properly policed” the Chancellor accepted a recommendation by […]

Chief executive waives bonus following a difficult year for the UK bank”. The Chief Executive of Barclays Bank has chosen to receive a bonus following what the bank has described as a “difficult” year. Antony Jenkins had been expected to receive an additional £1m, of a potential bonus of £2.5m, on top of his annual […]

The Director of Enforcement at the Financial Services Authority, Tracey McDermott, appeared before the Andrew Tyrie and the Parliamentary Commission on Banking Standards to answer questions about the FSA’s strategy and approach to dealing with banks and bankers who have stepped afoul of legal standards. One of the leading concerns of Tyrie’s commission was why […]

The share price of RBS (LSE:RBS) has fallen by 20.70 today to 345.10 as it has been reported that the US government is seeking a settlement with the bank on allegations connected to the Libor scandals.  Under normal circumstances, negotiating a settlement would be a fait accompli, but there is a catch in the deal […]

The President of the European Central Bank predicts economic recovery in the third and fourth quarters of 2012. Mario Draghi, President of the European Central Bank (ECB), has argued that he foresees economic recovery for Europe “in the second part” of 2013 as a result of national government’s “extraordinary” fiscal consolidation efforts. In December the […]