United Kingdom

U.K. banks must come up with £25 billion ($38 billion) in fresh capital this year, the Bank of England warned Wednesday, piling pressure on partly state-owned banks Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC to step up the pace of asse ...

Daily Headline - global.abi.org - 03/27/2013 - 22:35 - 0 comments

Britain's banks discover on Wednesday how much extra capital they need to keep regulators happy when the outcome of an inquiry into their financial health is revealed, Reuters reported. The Bank of England will release the capital requirements on We ...

Daily Headline - global.abi.org - 03/26/2013 - 23:09 - 0 comments

Britain's 'bad bank' running down the loans of two bailed-out lenders repaid 4 billion pounds to the government last year, chipping away at a total owed of more than ten times that amount, Reuters reported. UK Asset Resolution (UKAR), a &# ...

Daily Headline - global.abi.org - 03/25/2013 - 23:45 - 0 comments

The DVD and games rental store Blockbuster has been sold to restructuring specialists Gordon Brothers Europe after filing for a form of U.K. bankruptcy earlier this year, the Associated Press reported. The company had gone into administration - a form of ...

Daily Headline - global.abi.org - 03/24/2013 - 21:29 - 0 comments

The government launched incentives to help struggling home buyers on Wednesday as it looks to support growth in a real estate market it sees as key to reviving the country's ailing economy, Reuters reported. Chancellor George Osborne said Britain wo ...

Daily Headline - global.abi.org - 03/20/2013 - 21:26 - 0 comments

Lloyds Banking Group is considering the sale of about €650 million of Irish real estate loans as the lender extracts itself from Western Europe's biggest property crash, according to a person with knowledge of the planned transaction, the Irish Ti ...

Daily Headline - global.abi.org - 03/20/2013 - 06:36 - 0 comments

A plan to devolve potentially billions of pounds of public spending to local authorities and businesses in Britain to boost a stagnant economy won a green light from the government on Monday, Reuters reported. The Treasury said the coalition government h ...

Daily Headline - global.abi.org - 03/17/2013 - 22:19 - 0 comments

National Australia Bank Ltd.'s restructuring of its U.K. operations is on track and the unit is now profitable, however it continues to face challenges in a difficult U.K. market, its chief executive said, The Wall Street Journal MarketWatch rep ...

Daily Headline - global.abi.org - 03/17/2013 - 22:20 - 0 comments

The government has launched a review of pre-pack insolvencies, the controversial practices that can enable companies to dump pension liabilities, Professional Pensions reported. The Department for Business, Innovation and Skills said the review, anno ...

Daily Headline - global.abi.org - 03/14/2013 - 20:00 - 0 comments

The UK government’s Insolvency Service is all but insolvent, the Financial Times reported. Experts suggest the group, which polices bankrupt companies, liquidates failed businesses and disqualifies unfit directors, would be broke had it not received ...

Daily Headline - global.abi.org - 03/13/2013 - 21:58 - 0 comments