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Found 8 results

  1. Discount retailer Poundworld has appointed administrators, putting 5,100 jobs at risk. The move came after talks with a potential buyer, R Capital, collapsed leaving Poundworld with no option other than administration. Poundworld, which serves two million customers a week from 335 stores, also trades under the Bargain Buys name. Administrators Deloitte stress the stores will continue to trade as normal with no redundancies at this time. https://www.bbc.co.uk/news/business-44436435
  2. Directors of the City regulator will hold crunch talks later about the imposition of a deadline which would draw a line under the £25bn payment protection insurance mis-selling scandal. Sky News has learnt that the Financial Conduct Authority (FCA) will discuss the merits of a so-called time-bar exercise as part of a scheduled board meeting. The board meeting will come ‎four months after the watchdog raised the spectre of a fresh deluge of compensation claims as a consequence of a landmark legal ruling at the Supreme Court last year. Bank executives have warned that the implications of a case brought by Susan Plevin - which centred on a company's failure to disclose to her a large commission payment on her PPI policy - could be catastrophic for the industry. https://uk.news.yahoo.com/watchdog-crunch-talks-25bn-ppi-cut-off-213150769--finance.html#6cfwso4
  3. Chancellor George Osborne today confirmed he has held talks with the Bank of England about the possibility of extending the Funding for Lending scheme. Announcing today’s Budget, Osborne hinted the scheme could be extended but did not provide any further details. More: http://www.mortgagestrategy.co.uk/budget-2013/budget-13-osborne-reveals-talks-with-boe-to-extend-fls/1068069.article
  4. Sky News is reporting that Sants is in talks to fill an executive role overseeing compliance at the bank, which would involve regularly dealing with the FSA. More: http://www.mortgagestrategy.co.uk/latest-news/ex-fsa-chief-exec-hector-sants-in-talks-to-join-barclays/1062977.article
  5. Just watching live.He said he has had lots of letters of complaints about the tests. report to follow later.
  6. Standard Chartered is working on an eleventh-hour agreement with regulators in New York to avoid a potentially damaging showdown next week over Iranian transactions. Senior directors at the bank and its team of lawyers are in talks with Benjamin Lawsky’s New York State Department of Financial Services (DFS) to persuade the regulator at least to postpone the hearing and return to collective negotiations with other agencies. Sources said the bank was “desperate to avoid the hearing” set for next Wednesday, for fear it will fan more flames around the allegations. The DFS has not decided whether the hearing will take place in public or private or which of the bank’s executives it wants to see. “The DFS has invited Standard Chartered to come for an informal chat as a means to persuade the superintendent not to press official charges,” said a source. “The DFS does not legally have to offer this chance. The exact process for the hearing is therefore not yet determined.” More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9468293/Standard-Chartered-in-talks-with-New-York-regulator.html
  7. A group of banks embroiled in the Libor rate-rigging scandal are discussing the possibility of facing regulators together to avoid facing a Barclays-style backlash by going it alone, according to a report. The banks could settle with regulators as a group, according to Reuters, with one large headline fine announced rather than smaller penalties for each bank. The move could take the focus off individual banks, which fear the wrath of politicians and the public. While it is still unknown which banks are involved in discussions, more than a dozen are being investigated, including Citigroup, HSBC, Deutsche Bank and JPMorgan Chase. Read more: http://www.dailymail.co.uk/money/news/article-2176378/Libor-scandal-banks-talks-group-settlement-regulators-avoid-Barclays-style-backlash.html#ixzz21BLRsEwY
  8. Another "at the next election" proposal,which lately appear to be coming almost daily. If the EU is in tatters now what makes him think there will even be a EU come then ? http://www.bbc.co.uk/news/uk-politics-18659072
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