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Royal Bank Of Scotland’s Woes A Major Obstacle To Recovery

The former head of Royal Bank of Scotland said in 2009 it could take up to five years to recover from the biggest bank bailout in British history, the Irish Times reported. At the time, this seemed a formidable period for British taxpayers to wait be ...

Daily Headline - global.abi.org - 08/23/2016 - 22:50 - 0 comments

Brexit To Cut Scottish Tax Revenue, Says Sturgeon

Brexit will hit the Scottish economy and cut the semi-autonomous government’s tax revenue by as much as 13 per cent by 2030, First Minister Nicola Sturgeon’s administration said, the Irish Times reported on a Bloomberg News story. Depending on the po ...

Daily Headline - global.abi.org - 08/23/2016 - 22:51 - 0 comments

British Exporters And Tourists Big Winners In Sterling Plunge

UK exporters and overseas shoppers visiting Britain are shaping up to be the biggest winners from the plunge in sterling since the vote to leave the EU, the Irish Times reported. According to the Confederation of British Industry, manufacturers’ expo ...

Daily Headline - global.abi.org - 08/23/2016 - 22:52 - 0 comments

Stagnant Wage Growth Causing Debt Crisis For Low-Paid, TUC Warns

Years of stagnant wage growth have left more than 1m of Britain’s low-income households struggling with debt problems, according to a report from the TUC, the Financial Times reported. The trade union group argues that even though record-low interest ...

Daily Headline - global.abi.org - 08/22/2016 - 19:43 - 0 comments

RBS To Relive Unpleasant Memories As Investor Lawsuit Looms

At an English country mansion last month, lawyers for Royal Bank of Scotland (RBS) sat down with representatives of angry shareholders to broker an end to what may end up being the costliest case in British legal history, Reuters reported. The meeting at ...

Daily Headline - global.abi.org - 08/22/2016 - 19:44 - 0 comments

Investment Banks Ready To Move Jobs ‘Within Weeks’ Of Brexit

Big investment banks with their European headquarters in London will start the process of moving jobs from the UK within weeks of the government triggering Brexit, sources said. That is a faster timeline than their public messages of patience would imply ...

Daily Headline - global.abi.org - 08/16/2016 - 22:39 - 0 comments

British Cost Of Living Creeps Higher As Price Of Brexit Vote Hits

British inflation rose to a higher-than-expected 0.6 per cent last month as the increasing cost ... Price Index (CPI) inflation in July was up from 0.5 per cent in June, the Office for National Statistics ... manufacturers. Input prices rose 4.3 per cent in the year to July, compared with a drop of 0.5 per cent in the ...

Daily Headline - global.abi.org - 08/16/2016 - 22:40 - 0 comments

Lowcost's Bedbank Yet To Enter Insolvency

The bed bank arm of Lowcost Travel Group, Lowcostbeds, had yet to enter insolvency this week, raising fears of knock-on failures and of holidaymakers arriving at hotels to find rooms unpaid for. Lowcost Travel ceased trading on July 15 with up to 300,000 ...

Daily Headline - global.abi.org - 08/11/2016 - 22:09 - 0 comments

Brexit A ‘Catch 22’ For Financial Services Firms, Says Think Tank

Brexit will come at a cost for the UK financial-services industry, no matter what agreement the government secures in its negotiations with the European Union, according to the Institute for Fiscal Studies (IFS), the Irish Times reported. Banks may b ...

Daily Headline - global.abi.org - 08/10/2016 - 21:50 - 0 comments

Norton Rose Fulbright | Essential Pensions News | July 2016

The highlighted article this month is: TPR’s guidance statement for trustees on market volatility following EU referendum The Pensions Regulator (TPR) has issued a Guidance Statement to trustees of pension schemes in relation to the market volati ...

Resource Article - twallace@abiwor... - 08/10/2016 - 11:06 - 0 comments - 0 attachments

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