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British Developer Vincent Tchenguiz Files $3.5 Billion Claim Over Iceland Bank Inquiry

The property developer Vincent Tchenguiz has filed a $3.5 billion claim in London against the accounting firm Grant Thornton, the Icelandic bank Kaupthing and three individuals, claiming they were behind a flawed criminal inquiry into the bank’s collapse ...

Daily Headline - global.abi.org - 11/27/2014 - 19:33 - 0 comments

RBS Bonuses Under Fire As Restructuring Group Executives’ Testimony Questioned

Bonuses handed out to senior bosses at Royal Bank of Scotland are facing renewed scrutiny after the chairman of the bailed-out bank apologised for inaccuracies in evidence given to MPs about its restructuring division, The Guardian reported. Sir Phil ...

Daily Headline - global.abi.org - 11/24/2014 - 21:12 - 0 comments

Government Wins Insolvency Argument

The government has won an argument over insolvency creditor meetings, despite opposition from influential business groups, economia reported. Business groups, including ICAEW and insolvency trade body R3, had told the government to back down on its insol ...

Daily Headline - global.abi.org - 11/23/2014 - 22:59 - 0 comments

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

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