UK Finance News

New York Attorney General Andrew Cuomo has announced that he expects to recoup around half of the $165m bonuses paid out by insurance group AIG after the company was bailed out by the US government in September last year.
AIG had posted accounts for the last three months of 2008 showing the biggest quarterly loss in  [...]

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Directors of French bank Societe Generale have been seen to do the decent thing by giving up their rights to stock options received in March, after a public outcry and a call from the government.
Stock options, a form of bonus made to many top executives, entitle the holder to purchase shares in the company at [...]

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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 [...]

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The UK government appeared powerless to seek retribution from smug Fred Goodwin and the Royal Bank of Scotland directors, despite accepting tax payers cash to bail out their business, it looked as though they would be let off scot free as Gordon Brown accepted half hearted apologies from the bank for it’s total incompetence.
The icing [...]

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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 [...]

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