United Kingdom

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British Prosecutor to Pay $5.1 Million in Case Related to Kaupthing Inquiry

Britain’s Serious Fraud Office said on Friday that it would pay 3 million pounds, or about $5.1 million, to settle civil claims brought by a property developer following a flawed investigation into the collapse of the Icelandic bank Kaupthing during the ...

Daily Headline - global.abi.org - 07/27/2014 - 21:15 - 0 comments

Fewer Individuals In Scotland Facing Insolvency

The number of recorded personal insolvencies has reached its lowest level in nearly a decade, according to official figures, BBC News reported. The Scottish government said more people were using its debt payment programmes to manage their finances. Ente ...

Daily Headline - global.abi.org - 07/23/2014 - 21:27 - 0 comments

Bank Union Seen As Risk To Voice At EU

Britain and other non-euro states are at risk of losing their influence over financial legislation as single currency members pursue their banking union project, respondents to a UK Treasury review have warned, the Financial Times reported. The repor ...

Daily Headline - global.abi.org - 07/22/2014 - 21:46 - 0 comments

Antitrust Regulator to Examine British Banks

Britain’s antitrust authorities said on Friday that they expected to open a formal investigation into the country’s retail banking industry, citing potential barriers to competition that include the control of a national network of branches by four big b ...

Daily Headline - global.abi.org - 07/20/2014 - 17:46 - 0 comments

Britain Plans to Cap Charges on Payday Loans

cap on interest and fees of no more than 0.8 percent per day on payday loans, beginning in January. ...

Daily Headline - global.abi.org - 07/15/2014 - 21:29 - 0 comments

London Court Convenes RUSAL Creditors For Debt Restructuring

The London High Court is convening a meeting of creditors of Russia’s aluminum giant RUSAL to vote on a scheme of arrangement of restructuring the company’s $5.15 billion debt, RUSAL said in a statement on Friday. RUSAL, which is the world’s largest alum ...

Daily Headline - global.abi.org - 07/13/2014 - 23:13 - 0 comments

Scottish Banks Brace for Independence Vote

Visitors arriving at Edinburgh airport are greeted with a large Royal Bank of Scotland Group advert stating "This Is Home." The bank's management isn't sure for how long, The Wall Street Journal reported. In September, Scotland wi ...

Daily Headline - global.abi.org - 07/09/2014 - 22:30 - 0 comments

RBS Hired Investment Bank To Advise On Sale Of Irish Loans

Royal Bank of Scotland hired real estate investment bank Eastdil Secured LLC to advise on the sale of Irish property loans, according to three people with knowledge of the matter, the Irish Times reported. Ulster Bank, a unit of Edinburgh-based RBS, ...

Daily Headline - global.abi.org - 07/09/2014 - 22:41 - 0 comments

Support For The Rescue Of Viable Insolvent Businesses

Proposals to ensure that insolvent businesses continue to receive essential supplies from the IT and utility sectors to aid business recovery were announced in a consultation launched today by Business Minister Jo Swinson, Creditman.co.uk reported. The m ...

Daily Headline - global.abi.org - 07/09/2014 - 00:21 - 0 comments

Dozens Of Banks Spring To Life After Red Tape Cut

Dozens of banks are poised to enter the market in the wake of barriers to new entrants being lifted, according to regulators, The Telegraph reported. The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA ...

Daily Headline - global.abi.org - 07/07/2014 - 23:08 - 0 comments

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