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/ 10 February 2009
The former heads of banks bailed out by the British state gave unreserved apologies on Tuesday for their conduct, and agreed changes to the bonus system were needed. The deposed senior executives from the Royal Bank of Scotland (RBS) and HBOS apologised to lawmakers for the “turn of events” that led to their institutions being […]
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/ 4 February 2009
British lawmakers will quiz top financial journalists on Wednesday about whether they held any responsibility in the banking crisis.
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/ 13 October 2008
Britain bailed out three major banks with £37-billion on Monday as governments around Europe boosted confidence in the battered industry.
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/ 12 October 2008
Major British banks are likely to announce their plans to recapitalise early on Monday.
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/ 18 September 2008
Morgan Stanley topped the list of major financial firms scrambling to find a buyer on Thursday amid panicked stock and money markets.
Britain’s Labour Party suffered its worst local election defeat on record and lost control of London on Friday, forcing Prime Minister Gordon Brown to rethink his strategy to avoid losing the next national poll. Conservative Boris Johnson, a journalist-turned-lawmaker prone to gaffes, wrested the prized post of London mayor from Labour’s maverick Ken Livingstone.
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/ 17 September 2007
Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the business or its assets. Britain’s fifth-biggest mortgage lender said there was no need for investors or customers to panic