Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
History of Bank Runs Shows Capital Limits Can Feed the Fear
Mar 29 2013 // When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had resigned within a month. Cyprus, where banks reopened on Thursday after being closed for...
Britain’s Barclays, RBS Hit Over High Compensation Scheme
Mar 11 2013 // Britain’s Barclays and RBS paid more than 500 staff over 1 million pounds ($1.5 million) in 2012, a year when both were embroiled in rate rigging and mis-selling scandals. Both Barclays and RBS are paying out...
Horsemeat Blame Game Ricochets across Europe
Feb 18 2013 // Accusations, denials and threats to sue reverberated around Europe on Friday as meat traders, food processors, retailers and governments all rejected blame for horsemeat found in ever more beef dishes across the...
RBS Fined $612 Million for Libor Rate Rigging
Feb 7 2013 // Royal Bank of Scotland will pay $612 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates, and regulators warned there is more to come in the global investigation. RBS...
Best Affirms AIG, U.S. Property/Casualty Subs Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
UK Prime Minister Cameron Promises Britons Straight Choice on EU Exit
Jan 23 2013 // Prime Minister David Cameron promised on Wednesday to give Britons a referendum choice on whether to stay in the European Union or leave if he wins an election in 2015, placing a question mark over Britain’s...
EU Countries to Receive Go-ahead for Financial Transaction Tax
Jan 22 2013 // Germany, France and nine other euro zone countries will get the go-ahead on Tuesday to push on with a financial transactions tax, a measure likely to unsettle banks but which will please voters and raise much-needed...
UK Banks Come to Terms with Britain’s Compensation Industry
Jan 14 2013 // The boss of Britain’s biggest retail bank struck a chord with the public when he complained of getting unsolicited calls from claims management firms promising him compensation from his own and other banks. But while...
Lawsuits Cast Darker Shadow Over Banks Than Libor Fines
Dec 21 2012 // While banks appear to be brushing off record fines for rigging interbank interest rates, investors are starting to worry about a rising tide of civil lawsuits from disgruntled customers. UBS shares touched 18 month highs...
UBS Admits Fraud in Libor Rigging Scheme; To Pay $1.5 Billion Fine
Dec 19 2012 // Swiss bank UBS swallowed a $1.5 billion fine and admitted to fraud on Wednesday after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates over three continents. UBS traders colluded...
UK Business Group Calls for Limit to PPI Compensation – Report
Nov 12 2012 // Britain’s government needs to limit compensation paid to customers mis-sold loan insurance, John Cridland, director-general of the Confederation of British Industry, wrote in the Times on Monday. The head of...
Royal Bank of Scotland Reaches Milestone in Recovery Plan
Oct 17 2012 // Royal Bank of Scotland is set to withdraw this week from an insurance scheme set up by Britain during the banking crisis to cover its riskiest loans, having paid the minimum required in premiums, sources familiar with the...
New SARS-like Virus Detected in Middle East
Sep 25 2012 // British health authorities have alerted the U.N. of a new respiratory virus that resembles SARS in a severely ill patient who recently traveled to Saudi Arabia, where another man died of a similar illness earlier this...
Commentary: World Economy Entering Into Financial Hurricane Season
Sep 7 2012 // The North Atlantic hurricane season runs from mid-August to October, with a strong peak in storm activity around the middle of September. A less familiar but even more destructive pattern of disturbances is the financial...
Ratings Recap: Electrical Contractors’, Scotia, Société Centrale, Adamjee
Aug 10 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based Electrical Contractors’ Insurance...
U.K.-Based Insurer Amlin Sets Up Reinsurance Unit in New Jersey
Jul 20 2012 // UK-based specialist insurer Amlin plc is setting up a U.S. market for casualty reinsurance targeting nationwide business with a focus on general and professional liability. The business will be sourced direct from U.S....
EXCLUSIVE – Somali Pirate Kingpins Enjoy ‘Impunity’ Say UN Experts
Jul 18 2012 // Somalia’s president has shielded a top pirate leader from arrest by issuing him a diplomatic passport, according to a United Nations investigation which criticizes the “climate of impunity” enjoyed by...
No Let Up in Gloom for Europe’s Biggest Economies
Jul 5 2012 // All of Europe’s biggest economies are in recession or heading there and there is little sign things will improve soon, surveys showed on Wednesday, backing a growing view that the region’s major central banks...
UK Banks Face New Scandal; Barclays Boss in Peril over LIBOR Rigging
Jun 29 2012 // Britain will expose on Friday a second scandal involving the country’s banks in as many days, as Barclays boss Bob Diamond clings to his job after regulators slapped a record fine on the lender for rigging interest...
UK’s MI5 Chief Talks about Threats before Olympic Games
Jun 27 2012 // Britain has seen a credible terrorist attack plot about once a year since the Sept.11 attacks – a worrying pattern as security officials brace for an array of threats ahead of next month’s summer Olympics, the...
