Banks

You know RBS (LSE:RBS).  People used to think that the acronym stood for the Royal Bank of Scotland.  Lately, UK citizens, all of whom collectively own 81% of the bank, are beginning to recognize that RBS better describes Really Bad Service, especially those poor blokes and ‘blokettes’ who are customers of the bank. As if […]

Pound Sterling – The Pound started the week looking upwards after it made gains against the US Dollar after an industry report showed that UK home sellers raised their asking prices for a fifth consecutive month in May. As a result of the data, Sterling climbed from its lowest level in six-weeks against the US currency. […]

While the investment world focuses on Japan today, the news at JP Morgan has failed to make the make the headlines it would have on any almost other day.  The Financial Conduct Authority (FCA) has levied a fine of £3,076,200 “for systems and control failings related to its provision of retail investment advice and portfolio investment services” […]

With exquisite timing, both Lloyds Banking Group (LSE:LLOY) and Royal Bank of Scotland (LSE:RBS) issued updates regarding their capital positions this morning in advance of today’s visit by representatives of the International Monetary Fund (IMF) with Chancellor George Osborne.  As expected, the IMF urged Osborne to divest the taxpayers’ stake in both banks as quickly […]

This week’s hurdle proved more resilient, the FTSE100 index struggling to gain traction above 6,700, but we have made much progress. The move up from 6,600 was faster than expected, however, limited gains above 6710/15 for much of the week, all the while with support just 45pts below, suggests we may have had the sideways […]

“There’s nothing more important to us at Bloomberg than communicating openly and honestly about our company.” ~ Dan Doctoroff, President and CEO of Bloomberg LP, 13 May 2013. Whether it started a month ago or  whether it has “taken place in the newsroom for decades,” it is now a matter of public record.   Not […]

Whilst inflation is set to fall economic recovery remains “weak”. The outgoing governor of the Bank of England, Sir Mervyn King, has argued that the UK will reach its target of 2% inflation within two years, an improvement on the predicted 2.4% inflation level predicted in February. Announcing the Bank’s latest inflation report Sir Mervyn […]

Current Accounts to be backed by the exchange listed Bank of Ireland The Post Office has launched three new current accounts it argues offers “customers choice, good value, fair and transparent products with no hidden charges and access to the largest branch network in the UK”. The introduction of the Post Office current account, in […]

Yet another hurdle cleared this week as the UK flagship index went on to make a decisive breach of 6,600. The bulls are loving it, already eyeing up the pre-crisis highs of 6,760 and then even those of 6,940 before the dot.com bust. What has taken the FTSE up another 100 points during this shortened […]

The story has been brewing for a time now and the latest development reveals Slovenia, feared to be the next and sixth country to be bailed out by EU, is doing what it can to avert a financial meltdown that has caused quite a pandemonium in the five countries that secured the same since the […]