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Alistair Darling yesterday unveiled the biggest bail-out of any bank in history. The Chancellor confirmed that the Government would pump an extra £25.5 billion into Royal Bank of Scotland, declaring that this was the only way to keep it alive. Full Article at The Telegraph
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by Robert Barr Associated Press Wednesday Nov 4, 2009 LONDON - The Bank of England’s injection of 175 billion pounds ($289 billion) into the economy hasn’t yet pulled Britain out of recession, and the central bank now faces a difficult decision on... Full Article at EDGE Boston
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It was groundhog day in the Square Mile yesterday as the Chancellor, Alistair Darling, unveiled his second attempt to revive Britain's "zombie" banks in just over a year. Full Article at The Independent
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The European Central Bank is expected to keep its benchmark interest rate unchanged at the historic low of 1 percent tomorrow - and could indicate the eurozone won't see growth strong enough to warrant a hike for quite a while. Full Article at eTaiwan News
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By Katie Martin LONDON - The pound tumbled Tuesday on fresh nerves over the health of U.K. banks, while the dollar has lacked direction. The pound fell from $1.6350 as London trading started, to a low of $1.6295. Full Article at Wall Street Journal
Related Quotes
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What we’ve got here is better structured, a better deal for the taxpayer
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If you started a new bank from scratch it would take you a hell of a long time to build up that kind of market share
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Tesco is a less likely buyer in my view as it could build up a branch network in its existing stores ... But buying one of these networks could be a quick route to a network for Virgin.
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At the moment however, it seems that traders do not have the same conviction that they have displayed previously and rallies from here are proving to be unsustainable
