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25/11/2013
RBS Report Handed To City Regulator
A report on the Royal Bank of Scotland and its dealing with small business has been handed over to the City regulator.
It is claimed that the bank deliberately put "good and viable" businesses into default so it could make more profit.
According to reports business secretary, Vince Cable, decided on the move following a review of evidence presented to him government adviser Lawrence Tomlinson, looked "solid".
According to reports the allegations centre around the Global Restructuring Group (GRG), the banks lending division, specialising in handling loans considered risky. It is claimed that banks can generate income from putting a business in the GRG, through fees, increased profit margins and the purchase of devalued assets by their property division, West Register.
According to the BBC, Mr Tomlinson has said that the is a perception among businesses that they were being "purposefully distressed" in order to get them into the GRG. Mr Tomlinson added that even if this perception is wrong, it should be investigated.
(MH/CD)
It is claimed that the bank deliberately put "good and viable" businesses into default so it could make more profit.
According to reports business secretary, Vince Cable, decided on the move following a review of evidence presented to him government adviser Lawrence Tomlinson, looked "solid".
According to reports the allegations centre around the Global Restructuring Group (GRG), the banks lending division, specialising in handling loans considered risky. It is claimed that banks can generate income from putting a business in the GRG, through fees, increased profit margins and the purchase of devalued assets by their property division, West Register.
According to the BBC, Mr Tomlinson has said that the is a perception among businesses that they were being "purposefully distressed" in order to get them into the GRG. Mr Tomlinson added that even if this perception is wrong, it should be investigated.
(MH/CD)
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23 February 2011
Welcome For EU Review Of Support For Small Businesses
The UK Government, alongside other European member states including Belgium and Italy, today welcomed publication of the European Commission’s Small Business Act Review.
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17 January 2011
Simple Tax Laws 'Would Pay Off'
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Some small business owners are so frustrated with the complexity of the UK tax system that they would pay more just to see it simplified, new research has found.
04 November 2005
Learndirect criticised in NAO report
The online adult learning service Learndirect has been criticised in a new report for spending too much on marketing and management. The National Audit Office report said that although the service had “pushed the boundaries of learning methods”, it was still spending too much on administrative costs.
Learndirect criticised in NAO report
The online adult learning service Learndirect has been criticised in a new report for spending too much on marketing and management. The National Audit Office report said that although the service had “pushed the boundaries of learning methods”, it was still spending too much on administrative costs.
05 May 2011
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
07 November 2013
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England's Monetary Policy Committee has voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375bn.
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England's Monetary Policy Committee has voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375bn.
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Northern Ireland WeatherThis Evening and Tonight:A mainly dry evening and night with isolated showers dying out and some longer clear spells. Then it will cloud over towards morning with some heavy showers. Minimum temperature 7 °C.
