Banks

Pound Sterling – it was a mixed week for the Pound as it began the week down against the US Dollar as it declined to its lowest-level in more than two weeks ahead of the sale of UK government bonds. Against the Euro, Sterling weakened for the first time in three days. On Tuesday it advanced […]

According to Direct Line (LSE:DLG) there are soon going to be nearly 2,000 red telephones on desks with  with no one to answer them.  Although the company bid farewell to several hundred employees in 2012, yesterday they announced another round of cost-reduction cuts that will send up to 2,000 more office and support staff directly to the […]

Pound Sterling – Despite an improving picture emerging for the health of the UK economy, this week was one of declines against the US Dollar. On Monday the Pound was little changed against the Euro and US Dollar due to an industry report showing that home sellers raised their asking prices for a sixth-straight month […]

It’s almost impossible to believe how much one economy, and one man at one central bank, can affect the entire world with one short speech about his financial strategy.  But Ben Bernanke got the world to play the game of “Ring Around the Rosie” by doing just that yesterday afternoon.  “We all fall down.” As […]

In an interview with the BBC this morning, Richard Campbell of the Office of National Statistics (ONS) reported on the announcement that the rate of inflation in the UK, as measured by the Consumer Price Index (CPI), increased to 2.7% in May from 2.4% in April.  What does this mean for average household? If it means anything at […]

Pound Sterling At the start of the week the Pound weakened against the Euro and US Dollar due to a selloff of the currency and as speculation mounts that the US Federal Reserve will soon announce a slowdown of monetary stimulus.  The uncertainty over the Fed’s next move regarding its easing policies was the main […]

Is the market driving you nuts?  Don’t feel bad.  You’re (probably) normal.  It’s the market that’s insane.  It’s days like today that it is especially fun to be writing around midday.  There’s so much frenzy, it’s like watching the rear end of a rat race. If you are still in a tither from last night’s news […]

86% of loan applications to BBA member banks approved. Banks are now lending in a normal way and lack of demand combined with a flat economy is the main cause of low levels of credit extended to small businesses, according to an independent report. The report, published by Glasgow University honorary Professor Russel Griggs OBE, […]

Has been CEO since November 2008. The Board of Directors of the Royal Bank of Scotland Group have announced that Stephen Hester will be stepping down as the Group’s Chief Executive later this year. The bank’s board believed that an “orderly succession process will give a new CEO time to prepare the privatisation process” and […]

Report by Think Tank policy exchange argues that “a distribution of shares in both banks to taxpayers be repaid on sale” is the best option for reprivatising Lloyds and RBS. Up to 48 million British taxpayers would have the opportunity to receive a no risk stake in RBS and Lloyds, under a new plan announced […]