The chief of the IMF (International Monetary Fund), Christine Lagarde, has said that China needs to prevent its economy from being overly dependent on investment and exports. Lagarde has also said that the Yuan, the Chinese currency, may become a global reserve currency, if the Chinese government introduced market-oriented changes. Ms Lagarde’s comments came as [...]
A number of banks including Lloyds Banking Group (Public, LON:LLOY), HSBC (Public, LON:HSBA), and RBS (Public, LON:RBS), have released their latest profit figures this week. In the UK, Lloyds Banking Group has announced that it suffered a loss of £3.5bn for the year up to the 31st of December, while the Royal Bank of Scotland [...]
Fred Goodwin, the former boss of the Royal Bank of Scotland (RBS) (Public, LON:RBS), has been stripped of his knighthood – his honour was taken away after a controversial spell in charge of the bank, which included contributing to the near-collapse of RBS during 2008. Goodwin was given his knighthood in 2004. Previously, only convicted [...]
Posted in Featured Post, LifeStyle 
Tags: Bank, banking, Crisis, Economy, Finance, fred goodwin, Fred the Shred, labour party leader, lifestyle, Royal, royal bank of scotland, Scotland, uk cabinet office 
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George Osborne, the UK Chancellor, has supported the majority of the recommendations of a recent banking report – the Vickers’ banking report – including the protection of retail banking from more risky investment activities. Osborne has also backed the Independent Commission on Banking’s suggestion that banks should keep back a larger cushion of assets. The [...]
Posted in Featured Post, Finance Tags: Bank, banking, banking news, Change, Confirms, Finance, financial crises, majority, personal finance, Report, royal bank of scotland, small businesses, uk chancellor, uk news No Comments »
Basic bank account customers, at the UK bank Barclays (Public, LON:BARC), face more regular charges if they do not have enough funds in their accounts. Basic accounts are those which don’t offer overdrafts – they are frequently opened by people who have a chequered credit history. Currently with accounts of this type, the max transaction [...]
Posted in Featured Post, Finance Tags: atm usage, Bank, basic bank accounts, consumer watchdog, Finance, LON, personal finance, personal finances, transaction 1 Comment »
Stocks in the US closed considerably lower at the end of the day’s trading today, after the ECB (European Central Bank) head poured cold water on eurozone nations’ hopes that the bank will increase its level of bond-buying, to aid the debt crisis in the eurozone. The blue-chip Dow Jones Industrial Average slipped by 1.6% [...]
The IMF (International Monetary Fund) has cautioned China that a “steady build-up” of vulnerabilities is occurring in its financial sector. In its first official assessment of China’s finances sector, the fund has called for reforms in the country to promote more balanced economic growth and better financial stability. The IMF has stressed that the sector [...]
One of the members of the ECB’s (European Central Bank) governing council has warned that it may stop purchasing Italian debt, if the country fails to adopt promised financial reforms. Yves Mersch, a Luxembourg council member, made the caution during an interview with Italy’s La Stampa (Public, PINK:FIATY) newspaper. The ECB had re-started its programme of [...]
Posted in Economy, Featured Post Tags: Bank, christine lagarde, debt, ECB, Economy, eurozone, eurozone debt crisis, italian debt problems, Italian economy, italy, jose manuel barroso, yves mersch No Comments »
Lloyds Banking Group (LSE:LLOY; NYSE: LYG) CEO António Horta-Osório has taken medical leave, the company announced in a surprise statement on Wednesday. The board has appointed group finance director Tim Tookey as interim replacement following an emergency board meeting. The unexpected announcement caused shares in partially-nationalised Lloyds to fall by 4.4 percent, closing at 29.2p [...]
Posted in Featured Post, Finance Tags: Auto, Bank, CEO, Draft, group finance director, horta osorio, leave, mr horta No Comments »
An accounting error at the nationalised bank Hypo Real Estate (HRE) has meant that Germany is €55 billion ($78 billion; £48 billion) better off than it was before the error was discovered. HRE was nationalised by the German government following the collapse of Lehman Brothers in 2008. HRE was left with a severe liquidity shortage [...]
Posted in Economy, Featured Post, Finance Tags: Bank, deutsche pfandbriefbank, lehman brothers, liquidity, liquidity shortage, Result No Comments »
Chinese Internet Sites Hit By Anonymous Attack 
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New Website Aims To Become Big Player In The Daily Deals Market 
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