United Kingdom

Results for United Kingdom

U.K. Won’t Pursue EU Bonus Challenge

“It now looks clear there are minimal prospects for success with our legal challenge, so we will no longer pursue it,” Mr. Osborne said in a letter to Mark Carney, Bank of England governor and chairman of the Financial Stability Board, The Wall Street ...

Daily Headline - global.abi.org - 11/20/2014 - 21:16 - 0 comments

Austerity Cuts In North ‘Inescapable Reality’

Austerity cuts are an “inescapable reality” in the short term in Northern Ireland but a lower rate of corporation tax could deliver “game changing” private sector growth, the president of a leading business body has said in Belfast tonight, the Irish T ...

Daily Headline - global.abi.org - 11/20/2014 - 21:21 - 0 comments

BoE’s Mark Carney Urges Banker Bonus Overhaul

Bankers’ salaries, not just their bonuses, should be threatened if they break the rules, the Bank of England governor has said. Speaking in the wake of the $4.3bn fines for foreign exchange manipulation, Mark Carney said new pay structures were needed to ...

Daily Headline - global.abi.org - 11/17/2014 - 20:08 - 0 comments

Barclays Mulls Eight-Way Restructuring Before BOE Rules

Barclays Plc is considering shifting its businesses into eight entities in response to rules forcing Britain’s largest lenders to separate retail operations from riskier investment-banking units, an internal document shows. The lender is reviewing whethe ...

Daily Headline - global.abi.org - 11/05/2014 - 22:41 - 0 comments

HSBC Sets Aside $1.8 Billion For Forex Investigation

HSBC’s profits fell short of expectations in the third quarter after the bank set aside $1.8 billion for misconduct settlements and compensation for customers, including a potential fine for rigging currency markets, the Irish Times reported. The pro ...

Daily Headline - global.abi.org - 11/03/2014 - 21:34 - 0 comments

Mortgage Costs Could Rise As Bank Of England Introduces Tough Safety Nets For Banks

Britain's banks will be forced to maintain significant financial safety nets under rules announced on Friday that industry leaders say could raise the cost of mortgages and penalise building societies, The Telegraph reported. The Bank of England ...

Daily Headline - global.abi.org - 10/30/2014 - 20:38 - 0 comments

Company Liquidations At Lowest Rate Since 1984, Says Insolvency Service

186 active companies, or 0.54%, went into liquidation in England and Wales, in a continuation of a ... Guardian reported. In the 12 months to September, one in 186 active companies, or 0.54%, went into ...

Daily Headline - global.abi.org - 10/29/2014 - 21:31 - 0 comments

Black Day For Tesco As Profits Fall By 92%

Tesco’s profits for the first six months of 2014 have been nearly wiped out by the toxic combination of the recent accounting scandal and slumping sales at its declining UK store empire, The Guardian reported. In another dark day for the supermarket ...

Daily Headline - global.abi.org - 10/23/2014 - 20:21 - 0 comments

HSBC Says Building Firewalls to Cost Up to $3.2 Billion

HSBC Holdings Plc (HSBA) Chairman Douglas Flint said separating his bank’s securities arm from its consumer unit may cost as much as 2 billion pounds ($3.2 billion), Bloomberg News reported. “Ringfencing will cost one billion, two billion to implement, w ...

Daily Headline - global.abi.org - 10/21/2014 - 20:27 - 0 comments

RBS Task Force To Prep Debtors For Rate Hikes

Borrowers are not ready for higher interest rates and could struggle to pay the bills even with a small rise in repayments, RBS chief Ross McEwan warned yesterday. Most RBS and NatWest mortgage borrowers had never experienced an interest rate rise, he sa ...

Daily Headline - global.abi.org - 10/16/2014 - 21:19 - 0 comments

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