July 2013 Archive

Barclays boss denies bank was run "recklessly"

Barclays Bank will be raising £5.8 billion from investor cash in order to strengthen its balance sheet, after poor half-year figures for the first six months of 2013.

200,000 Equitable Life policyholders may miss out on compensation

The Public Accounts Committee has warned that up to 200,000 Equitable Life policyholders may miss out on compensation after contact details for hundreds of thousands were destroyed.

RBS fined £5.6 million for "pervasive" reporting errors

The Financial Conduct Authority has fined the Royal Bank of Scotland a total of £5.6 million for reporting errors on 45 million transactions.

Vince Cable: Bank of England acting like 'capital Taliban'

Vince Cable has warned that the "Taliban" approach of the Bank of England to the capital levels of banks is reducing lending to small businesses and hurting the economic recovery.

Sunshine boosts retail sales in June

Retail sales in the UK rose by 1.4 per cent in June, indicating that the UK economy may indeed have seen a 0.5 per cent boost, as forecasts estimated.

Osborne wins argument with IMF for now as growth forecast up

The International Monetary Fund has upgraded its UK economic forecast for 2013 to 0.9 per cent, up from 0.7 per cent, and it predicts the economy will grow by 1.5 per cent.

Surprise fall in manufacturing output dashes GDP hopes

Industrial output fell in May, according to the Office for National Statistics, in a move that surprised economists and brought the recent slew of positive economic data to an end.

M&S clothing sales down again but food sales rise

Clothing sales at Marks and Spencer have continued to struggle, even though food and online numbers are on the rise, according to the latest figures by the retail giant.

Tyrie: Osborne's "watered down" banking reforms "fall short"

The Chairman of the Treasury Select Committee and fellow tory MP Andrew Tyrie says the government's response to the parliamentary commission on banking "falls short".

Carney's promise to keep rates low is bad news for savers

The new Giovernor of the Bank of England, Mark Carney has made his mark in his first week by issuing a note aimed at claming the bond markets and setting out plans to keep rates low for years to come.