Royal Bank of Scotland joins UK asset protection scheme
Despite attempting to wriggle off the hook, which is the UK government's asset protection scheme, the Royal Bank of Scotland has been forced to sign up and confirmed that this happened on 26 November. While there's no doubt that the scheme will protect the company's assets in the short to medium term, like Lloyds bank, the company had been attempting to negotiate an exit rather than pay the multibillion pound premium.
In a bizarre quake of fate, if the UK economy does take a further downturn, as some people believe it will in 2010, the scheme will become vital for Royal Bank of Scotland and Lloyds bank may well have made a mistake negotiating its own exit. The agreement which was signed by Royal Bank of Scotland is conditional upon approval by Royal Bank of Scotland shareholders and overall approval by the European commission which is now heavily involved in the UK banking sector and the restructuring of businesses such as Lloyds bank and Royal Bank of Scotland.
Now that the saga surrounding the asset protection scheme looks to be over there are hopes that the Royal Bank of Scotland management can look ahead to the future even though markets are still very difficult. This is a company which was the largest banking operation in the world at one stage, after a massive expansion programme, but has now come back down to earth with a bump and will need to rebuild from a very low base.
EU hedge fund restrictions could be softened
As the Swedish presidency of the EU comes to a close there are plans to water down the recently announced regulatory restrictions on hedge funds and private venture capital companies in Europe. This is an issue which has hit the UK financial sector very hard and indeed Boris Johnson, the Mayor of London, recently confirmed his concerns regarding additional funding requirements which could see hedg...Read More
BSkyB continues to prosper against all the odds
When the UK economy started to crash, many people looked at companies such as BSkyB, the satellite TV operator, with expectations of a collapse in profitability and customer numbers. However, the company has this week revealed a further increase in profitability and great strides in the UK broadband market which is proving very lucrative for some of the major players.
Even though sa...
Gold continues to rise as investor concerns grow
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Young people with gambling problems suffer in silence
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