Gjeldskrisen i EU
Shares in RBS fell by almost 3% yesterday as it emerged bank has least margin for error among UK rivals Royal Bank of Scotland has admitted it made a mistake that led to it overstating its financial strength to banking regulators. Shares in RBS tumbled by almost 3% at one point on Friday as investors digested the bank’s announcement that it is less able to withstand an economic crisis than previously thought.
All the latest business and economic news, as European stocks surge ahead on the surprise Chinese rate cuts and hopes of ECB action. The UK chancellor’s deficit-reduction plan still looks out of reach despite an improvement in the public finances in October. 5.43pm GMT A late breaking story (originally revealed by Sky): Aviva has confirmed that it has reached agreement for an all share deal to acquire Friends Life. Aviva would offer 0.74 of its own shares for each Friends Life share.This values Friends’ shares at 398.9p each and the whole business [...]
NEW YORK (TheStreet) -- The former central bank chiefs of the U.S. and U.K. reportedly told a private audience earlier this week the global economic recovery has taken a lot longer than either expected. Speaking at a CME Group conference in Florida, former Federal Reserve Chairman Ben Bernanke and ex-Bank of England Governor Mervyn King expressed pessimism about a recovery in Europe, with King more bearish than Bernanke. Must Read: Warren Buffett's Top 10 Dividend Stocks The views of the former central bank chiefs were expressed at a [...]
A judge said he will rule Friday on the constitutionality of the landmark Illinois pension patch after hearing arguments about whether the state can use the crisis of a $100 billion retirement-fund debt to cut benefits to retirees.