UK Finance News

The Bank of England should be privatised and once again empowered to regulate the banking system, according to a controversial new book, Central Banking in a Free Society, written by Professor Tim Congdon and published by the well respected political think tank, the Institute of Economic Affiars (IEA).
Professor Tim Congdon, argues that Gordon Brown’s 1997 [...]

[Read more →]

A report from the National Audit Office has criticised the Treasury for allowing Northern Rock to continue to offer 125% loans after it had been bailed out using tax payers funds. Unbelievably Northern Rock were allowed to continue bringing the banking system into disrepute throughout the period from September 2007 to December 2008.
Having learned absolutely [...]

[Read more →]

Governments and Central banks around the world are paying particular attention to the UK today as quantitative easing is introduced for the first time. The first £2bn, part of a projected £75bn, was first offered to non bank institutions such as pension funds, where there were no takers. However the central banks was able to [...]

[Read more →]

More bad news for the UK taxpayer emerged this morning as Lloyds Banking Group shares took a tumble of 20% on the back of it’s takeover of HBOS and the latest profit warning put out on Friday by the latter sending shockwaves through the market amid fears it may require further state capital or even [...]

[Read more →]

There is uproar in the financial press today following revelations by a former employee of HBOS claimed to have warned directors at the bank of the impending danger of their sales culture as long ago as 2004.
Paul Moore was employed as risk manager with HBOS between 2002 and 2005, his warnings that the bank was [...]

[Read more →]