UK Finance News

Barclays Bank shares increased today as they announced that they would not be seeking capital from either private investors or the UK government and that they could afford to absorb a writedown of £8bn of bad debt and still show on target pre tax profits of £5.3bn.
The news from Barclays, coupled with the further boost [...]

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The Britannia Building Society and Co-operative Financial services have agreed a merger forming what has been described by the two as a ’super mutual’. The new business will be a subsidary of The Co-operative group with Britannia members becoming Co-op members.
The two mutuals have promised that there will be no compulsory redundancies, should the merger [...]

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The Libertarian Alliance are quite clear on their views regarding the latest proposals by the government to prop up the UK banks with further financial support from tax payers money. Here is the latest press release which makes very interesting reading.
“NO BAIL OUT OF THE BRITISH FINANCIAL SYSTEM” SAYS LIBERTARIAN ALLIANCE:
“LET FAILED BANKS FAIL”
The British [...]

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Despite weeks of pleading with the banks that were bailed out by the government in the credit crisis, there are still no signs that those banks are prepared to lend much needed funds to businesses, preferring instead to use the cash injection to build up their own stockpile.
In their latest attempt to get banks lending [...]

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