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Friday 08th of January 2010

News Tag: closed

January 4, 2010

Report reveals more pension woes

by Kay Murchie
Report reveals more pension woes
Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members. The ACA, which questioned over 300 companies, found that employers continue to shy away from these high cost schemes with 87% of workplace final ...

October 13, 2008

Iceland stock exchange remains closed

by Kay Murchie
Iceland had a disastrous week last week after the nationalisation of the country’s three largest banks. On Thursday, it announced that trading had been suspended on the OMX Nordic Exchange in a bid to prevent further crises. It was expected that the stock exchange would reopen today but it remains closed due to ‘unusual market conditions‘. Meanwhile, talks between Britain and Iceland ...

September 26, 2008

Washington Mutual closed by regulators

by Kay Murchie
Washington Mutual (WaMu) has been closed making it the largest failure of a US bank. WaMu’s assets have been sold to banking giant, JPMorgan Chase, for $1.9bn (£1 billion). WaMu was closed by the Federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) has been appointed receiver. $16.7 billion of deposits had been withdrawn in the last 10 ...