|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    18th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News

News Tag: nationalisation

August 2, 2012

RBS may be fully nationalised

by Jan Harris
RBS may be fully nationalised
The Government is believed to be considering plans to buy the 18 per cent of the Royal Bank of Scotland (RBS) it doesn’t already own, bringing the bank under full public ownership. The government purchased 82 per cent of the bank for £45 billion in a rescue deal at the height of the credit crunch. The remaining 18 per cent is owned by ...

November 29, 2010

Bank of Ireland looking to raise €2.2bn

by Kay Mitchell
Bank of Ireland looking to raise €2.2bn
Bank of Ireland has today revealed it is looking to raise €2.2 billion (£1.86 billion) of capital, in a move designed to meet the conditions of the country’s bailout package. The capital raising would bring the crisis-torn lender close to nationalisation. The bank is currently 36% owned by the Government and the news emerged shortly after Ireland’s bailout was agreed with ...

April 30, 2009

ESRI calls for Irish banks to be nationalised

by Peter Charalambous
According to Alan Barrett, a research professor at the Economic and Social Research Institute, Irish ministers should move to nationalise banks and end the uncertainty instead of buying property loans. The focus needed is to end the uncertainty and Finance Minister, Brian Lenihan, plans to clean up banks by removing the bad debt built up by property developers and set ...

March 17, 2009

Small stockbrokers benefit from big banks’ failure

by David Masters
Small stockbrokers benefit from big banks' failure
Smaller stockbrokers are winning more clients as a result of the economic downturn, the Sunday Times reported this week. According to research seen by The Times, larger stockbrokers such as Dresdner Kleinwort and UBS are losing clients to smaller rivals such as Collins Stewart and Cenkos. UBS, for example, has lost more than 20% of its corporate clients in the past 12 ...

February 26, 2009

RBS in third rescue package as it moves closer to nationalisation

by Kay Mitchell
Royal Bank of Scotland (RBS), which today entered the history books with the largest UK corporate loss, is set to receive a further £13 billion injection from the Government in return for more shares. The latest injection of funds means the taxpayer’s stake in Britain's second largest bank could reach as high as 95% and brings the ...

February 23, 2009

US Government may increase stake in troubled Citigroup

by Kay Mitchell
According to the Wall Street Journal, the US Government is in talks with Citigroup to increase its stake in the struggling bank. Shares in Citigroup plummeted for a sixth consecutive session last Friday amid speculation that it would have to be nationalised in order to survive. It is believed that the Government could end up owning up to 40% in ...

February 16, 2009

Lloyds shares hit by nationalisation rumours

by Kay Mitchell
Lloyds Banking Group shares have fallen further this morning after closing more than 30% down on Friday following the news of a potential £10 billion loss at HBOS. Lloyds, which is 43% owned by the taxpayer, saw its shares fall 7.4p to 54p this morning amid speculation that the Government may be forced to inject more money into the bank, or even ...

February 15, 2009

Lloyds warns of potential £10bn loss at HBOS

by Kay Mitchell
Lloyds Banking Group shares took a pounding on Friday after it warned of multi billion pound losses at HBOS, the bank it rescued last September. Shares in Lloyds, which is 43% owned by the taxpayer, plummeted 40% within a few minutes of the news being announced, but recovered slightly to close at 61.4p. Chief executive Eric Daniels revealed that the ...

January 19, 2009

RBS set to report massive losses, talk of nationalisation

by Kay Mitchell
Royal Bank of Scotland (RBS) is set to report massive losses for the 2008 year and there is speculation that the Government will have to fully nationalise the struggling bank. Shares in the bank plummeted by 67% today to 11.6p following the news. Other banks also lost ground with Lloyds Banking Group shares closing down 34% at 65p, while ...

January 15, 2009

Fears for Citigroup and Bank of America due to nationalisation rumours

by Kay Mitchell
US banking giant Citigroup saw its shares plummet 21% in early trading today due to rumours that the group could be nationalised. Furthermore, analysts at Bank of America issued a sell note for Citigroup, attributing to the fall in its share price. Wall Street also panicked over the financial health of Citigroup and its balance sheet. The bank ...

January 13, 2009

Northern Rock shareholders seeking compensation

by Kay Mitchell
Northern Rock shareholders are to enter the High Court this week demanding compensation to contest the way in which the stricken bank was nationalised in February 2007. The firm's biggest former investor SRM Global has brought the case, with RAB Capital and 150,000 private investors. However, it is not the nationalisation itself that shareholders are contesting, but the way in which the bank's ...

October 15, 2008

Iceland slashes interest rates by 3.5%

by Kay Mitchell
Iceland's central bank, Sedlabanki, slashed interest rates today, earlier than scheduled, from 15.5% to 12% following a disastrous couple of weeks for the country. The country faced a near-collapse of its banking system after the country’s three largest banks, Glitnir, Kaupthing and Landsbanki, were nationalised recently. Meanwhile, the stock exchange was closed following a three-day suspension in a bid to prevent further ...

September 29, 2008

Santander to acquire B&B‘s branches and £20bn savings business

by Kay Mitchell
The BBC reported over the weekend that troubled buy-to-let lender Bradford & Bingley (B&B) was set to be nationalised. It has emerged this morning that Spanish bank, Santander, which recently agreed to buy Alliance & Leicester, is to acquire B&B’s £20 billion savings base and its network of 197 branches. According to sources, talks ran late into last night ...

August 26, 2008

Taxpayers face £1 billion loss due to nationalisation of Northern Rock

by Kay Mitchell
The Government’s own advisers, Goldman Sachs, have warned that taxpayers could lose up to £1.28 billion due to the nationalisation of crisis-torn Northern Rock. Northern Rock was nationalised in February after the Government rejected takeover bids from the board of Northern Rock and a consortium led by Sir Richard Branson’s Virgin Group. A judicial review into the decision ...