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.
More confusing views on the economy!
Andrew Sentance, one of the policymakers at the Bank of England, has today caught the attention of the currency markets with a suggestion that UK base rates could rise in the short to medium term. Commenting upon the potential threat of inflation he has given the biggest hint so far that UK base rates could rise, suggesting that the central bank could not "rely on goods deflation" alone to fight t...Read More
FSA concerned about weakness of Euro
The FSA (Financial Services Authority) has today indicated a new movement in stress testing for UK companies with a specific focus on the Euro and trade within the European Union. There is a growing concern about the weakness of the Euro and the impact this could have on UK businesses which trade overseas or trade with counterparts in Europe. As a consequence the FSA is looking to work with UK com...Read More
Diabetes and Life Insurance
Life insurance policies for diabetics can be hard to obtain but they are still available. A major factor in the cost of obtaining a life insurance policy is how well an individual's condition is managed. With good blood glucose control, a healthy and active lifestyle and few complications, finding a good deal is achievable.
Diabetes falls into two major categories: Type 1 an...
Miliband announces Labour plans to increase minimum wage
19/05/2014 Ed Miliband has announced that if Labour were to win the general election they will take “radical action” against low pay by setting a statutory minimum wage target linked with average earnings. Mr Miliband said the current system is a “scandal” as millions of people are “unable to make ends meet” despite being in employment. Although he has not announced what the ex...Read More
Tell your insurer before making home bio diesel, firm warns
Making bio diesel at home can be dangerous - and might invalidate home insurance claims if an accident occurs.Defaqto said today that mixing cooking oil with ethanol and caustic soda, a common method of making the fuel, was becoming increasingly common among householders as they battled to counteract price rises at the pump.The firm made the comments following the widely-reported case of a Northam...Read More