United Kingdom

Co-operative Bank PLC asked bondholders to take heavy losses to stave off a potential collapse, the latest case in Europe of debtholders, rather than taxpayers, taking a hit, The Wall Street Journal reported. Co-op Bank, part of the Co-operative Grou ...

Daily Headline - global.abi.org - 06/18/2013 - 21:48 - 0 comments

New bankruptcy legislation aiming to strike a better balance between the rights of debtors and the rights of creditors has been introduced, the BBC reported. The Bankruptcy and Debt Advice (Scotland) Bill 2013 will provide for improved financial advice. ...

Daily Headline - global.abi.org - 06/12/2013 - 23:03 - 0 comments

David Cameron’s hopes of agreeing an international deal on fighting tax evasion suffered a blow when Bermuda said it would not commit to a pact before next week’s summit of the Group of Eight leading economies, the Financial Times reported. UK offici ...

Daily Headline - global.abi.org - 06/12/2013 - 23:05 - 0 comments

Britain will give its strongest indication yet that it is ready to return part-nationalised Lloyds Banking Group and Royal Bank of Scotland to private ownership later this month, political and industry sources said, Reuters reported. Chancellor George Os ...

Daily Headline - global.abi.org - 06/10/2013 - 23:03 - 0 comments

Ireland was given a “back-door bailout” worth around £10 billion (€11.5 billion) by Britain in “an arrangement that was never explicitly approved by parliament”, according to a report today, the Irish Times reported. The London Times claims Ulste ...

Daily Headline - global.abi.org - 06/10/2013 - 23:10 - 0 comments

Pay and bonuses in Britain's financial services sector remain excessive and encourage risk-taking, according to those working in it, undermining efforts by politicians and regulators to reform an industry blamed for its role in the financial crisis, ...

Daily Headline - global.abi.org - 06/05/2013 - 22:16 - 0 comments

Scottish business insolvencies have remained at an all-time low rate of just 0.03 per cent for ... insolvency rate has now stayed at 0.08 per cent for a whole quarter – February to April – for the first time ... 0.03 per cent for five months in succession, a report out today discloses, Scotsman.com reported. ...

Daily Headline - global.abi.org - 06/03/2013 - 20:52 - 0 comments

The Co-operative is weighing a rescue plan for its banking subsidiary that could impose losses on the unit’s junior bondholders to bolster its capital levels, the Financial Times reported. The UK funeral-to-supermarkets group is working through its o ...

Daily Headline - global.abi.org - 06/02/2013 - 23:16 - 0 comments

A rise in “zombie debtors” – people paying only the interest charges on their debt and not the debt itself – is masking the difficulties faced by many households in the UK, according to insolvency experts, the Financial Times reported. RSM Tenon, the ...

Daily Headline - global.abi.org - 05/28/2013 - 22:10 - 0 comments

Accountants still fail to question banks properly over how they make provisions for poorly performing loans on their books, auditing policeman Financial Reporting Council (FRC) said on Wednesday, Reuters reported. The criticism goes to the heart of regul ...

Daily Headline - global.abi.org - 05/28/2013 - 22:13 - 0 comments