In the current financial climate people are looking for as many ways to make money as possible. One way that has been seen as an attractive method by many is blogging. Because blogging has been quite high profile of late; with several bloggers becoming highly successful because of their blogs making money blogging has become […]
Category: Business
Cooperative Bank Hires ex HSBC Boss
The Cooperative Bank is hoping to make steps towards digging itself out of a deep hole by recruiting Niall Booker as its new chief executive. Niall Booker was chief executive of HSBC‘s North American arm of the business but was axed in 2011 as part of the banks restructuring measures. He is expected to join […]
Poundland Cuts Prices in Sub-pound Price War
We have all heard the saying “Take care of the pennies and the pounds will take care of themselves”. Poundland are counting on this by dropping prices from their usual 99 pence to 97 pence in 4 stores where rival 99 pence shops have opened. The discount superstore brand has said that it has adopted […]
Co-operative Bank Credit Rating Downgraded by Moody’s
The Co-operative Bank has had its credit rating downgraded by credit ratings agency Moody’s. Moody’s warned that the bank could need external support after it reported that is made losses of £600million during March. The bank is also reeling from a failed deal with Lloyds TSB who was going to sell 632 branches to them. […]
RBS hit with £390m of fines from Libor Scandal
The amount that the Royal Bank of Scotland (RBS) will have to pay out in fines due to the bank’s role in the Libor rigging scandal has finally been revealed, and it stands at a massive £390million. This is a big jump from the £290million that Barclays was required to pay, and shows that the […]
RBS Continues Libor Fine Negotiations
Despite rumours emerging that RBS was about to settle its Libor rigging fines, it looks like the negotiations with the Financial Services Authority (FSA) will continue for a while yet, and concrete figures still haven’t emerged. Whereas the highest estimates tend to be around £350million (and some people estimate it could even reach £400million), it […]
Sir James Crosby apologises for his role in causing the financial crisis
The former chief executive of HBOS, Sir James Crosby, has apologised in front of the Parliamentary Commission on Banking Standards for his role at the bank in the lead up to the financial crisis. Telling MPs that the lending which took place at the bank was “incompetent”, he also said he didn’t think he would […]
Nationwide Launches Interest-Earning Current Account
Nationwide has stuck its neck out today by launching an interest-earning current account, the first time that the bank has changed the line up of products it offers in over twenty-five years. This just goes to demonstrate the changes that are being felt throughout the banking industry and the struggle traditional providers are having to […]
Sir John Vickers Will Consider Breaking Up Banks
The chairman of the Independent Commission on Banking has said that he will not back down from breaking up the banks if the current proposition to ring fence their retail and investment sections does not appear to work. The biggest banks in Britain operate on two different platforms. The first is their retail sector, which […]
Top Regulator Admits FSA Didn’t Do Enough to Control Banks
The Financial Services Authority’s Lord Turner had admitted that the FSA didn’t do nearly enough to control the big banks and ensure they were operating safely in the years leading up to the credit crunch. Speaking at a dinner in the City of London, Lord Turner got as close to issuing an apology from the […]