UK banks will face annual stress tests for the first time to see if they could survive a major collapse in financial markets or the economy, the Bank of England said today.
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Wednesday 04 March 2009
Outlook: Is Standard Chartered the only solvent bank left in Britain? At a recent conference, Stephen Green, the chairman of HSBC, was introduced by Tony Blair as about the only banker left who dared show his face in public during daylight hours. I'm not sure that after this week's results and accompanying rights issue, that even the measured Mr Green still counts as the acceptable face of banking.
Tuesday 03 March 2009
Season of the switch
The price comparison and switching site uSwitch.com has launched a service to help Britain's estimated 4.7 million small businesses obtain a better deal on energy. The move is in response to growing numbers of calls from SMEs keen to cut costs because of the recession. It is claimed the service – www.uswitchforbusiness.com – could help SMEs save up to 50 per cent on energy bills.
Friday 30 January 2009
The Bank of England yesterday doused hopes that it would move quickly to buy up large volumes of company debt as it set out plans to purchase corporate bonds, commercial paper and Government-sponsored bank debt.
Thursday 29 January 2009
The Financial Services Authority has invited banking analysts to a meeting on Monday to explain its capital ratio requirements and liquidity criteria for banks, as it seeks to avert confusion on comments it made last week when the government announced a second banking bailout.
Wednesday 28 January 2009
Thursday 22 January 2009
The Government's £45bn programme to refurbish or rebuild every secondary school in the country could grind to a halt because of the economic downturn, MPs have warned. Graham Watts, chief executive of the Construction Industry Council, told the Commons Select Committee monitoring schools, that there was a danger that "this promising move and accelerating programme could come to a full stop" if the private sector could not stomp up enough cash to loan to contractors to continue the work.
Wednesday 07 January 2009
Outlook Sir Andrew Large, a former deputy governor of the Bank of England, has this week been making the case for an over-arching authority to ensure financial stability, and he makes it well. Yet who does he propose to be the keeper of this new position but the Bank of England, which has always been responsible for financial stability and is in any case in the process of having its stability functions strengthened.
Thursday 18 December 2008
Sunday 07 December 2008
The London Stock Exchange is in talks with a number of new City investors for Baikal, its pan-European equity trading facility, to replace Lehman Brothers which had been the exchange’s partner until its recent collapse.
Wednesday 03 December 2008
The Government's response to the mortgage lending crisis has been confused and ineffective critics warn, with calls for new solutions gathering pace as repossessions rise and mortgage lending figures continue to plummet.
Thursday 20 November 2008
In May this year, Oxford appealed to graduates and supporters for £1.25bn. The graduates are being targeted partly for their money, of course – although only a tiny number can afford to give large amounts – but also for their support. The aim is to raise the number of Oxford alumni who make donations to their alma mater towards levels in the USA, where graduates give billions of dollars to their universities.
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