Tag: announcement

France’s Lagarde becomes first female IMF chief

France’s Lagarde becomes first female IMF chief

It has been confirmed that French Finance Minister, Christine Lagarde, is to become the first ever woman to head the International Monetary Fund (IMF). The 55-year-old has been the front-runner since the position became available when Dominique Strauss-Kahn, former managing director of the IMF, was forced to step down after being accused of sexually assaulting [...]

June 29, 2011 | 0 Comments More
Government announces crackdown on incapacity benefit

Government announces crackdown on incapacity benefit

The Government has announced further plans to crackdown on incapacity benefit - a move designed at helping people get back to work but, at the same time, end the situation where some risk losing out financially if they take a job. The measures were announced last October when the Government said those on incapacity benefit [...]

April 4, 2011 | 0 Comments More
Ben Broadbent to joins Monetary Policy Committee

Ben Broadbent to joins Monetary Policy Committee

The Treasury has today announced Ben Broadbent will join the Bank of England’s Monetary Policy Committee (MPC). Mr Broadbent, a Goldman Sachs economist, will assume his position in time for the June rate-setting meeting and replaces Andrew Sentance after his term ends on 31 May. Broadbent’s research at Goldman has suggested there will be three [...]

March 7, 2011 | 0 Comments More
Government unveils new Financial Policy Committee

Government unveils new Financial Policy Committee

The Government has today announced the four external members of the new Financial Policy Committee (FPC). The FPC, which was first unveiled by Chancellor George Osborne last June, has been established to regulate financial services and markets. The idea behind the FPC follows the Government’s criticism of the Financial Services Authority (FSA) for not doing [...]

February 17, 2011 | 0 Comments More
Banks agree to lending targets and pay restraints

Banks agree to lending targets and pay restraints

Chancellor George Osborne is today expected to announce that a deal has been reached between the Government and the banks with regard to lending targets and restraints on pay. The report comes a day after Mr Osborne confirmed he is maintaining the levy on banks, raising an additional £800 million this year and £2.5 billion [...]

February 9, 2011 | 0 Comments More
Government confirms state pension age rise

Government confirms state pension age rise

The Government has today confirmed that the UK state pension age (SPA) will increase to 66 from 65 by 2020. The measures were first announced in the Government’s Spending Review last month and followed a proposal already outlined by the former Labour Government. The former Government had proposed to lift the SPA to 66 by [...]

November 3, 2010 | 0 Comments More
US Government to sell Citigroup stake

US Government to sell Citigroup stake

The US Treasury Department has today announced it is selling its 27% stake in Citigroup this year, in what will be one of the largest stock sales ever. According to the department, around 7.7 billion shares in the bailed-out bank will be sold in stages. The stock is currently worth around $33 billion (£22 billion) [...]

March 29, 2010 | 0 Comments More
Lloyds wields the axe on another 700 jobs

Lloyds wields the axe on another 700 jobs

The trade union Accord has announced this morning that 700 jobs are set to go at Lloyds Banking Group’s offices in Aylesbury, Buckinghamshire. Since its merger with HBOS last autumn, Lloyds has axed thousands of jobs due to overlap within the megabank. Lloyds said it planned to move approximately 570 life, pensions and investments administration [...]

November 23, 2009 | 0 Comments More
Student loan interest payments at 0%

Student loan interest payments at 0%

The Government has announced this week that 2.5 million students will pay 0 percent interest on student loans from September. However, this slashes the hope that student loans, which are linked to the Retail Prices Index which has fallen to -0.4 percent, would mean that loans would be reduced accordingly. The Student Loans Company has [...]

May 14, 2009 | 1 Comment More