Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
Hartford to Sell U.K. Variable Annuity Business to Berkshire
Jun 27 2013 // Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash. Hartford Life International Ltd., which was sold to Berkshire’s...
Bermuda Premier Says Won’t Agree UK Territories Tax Deal before G8
Jun 13 2013 // Bermuda’s premier is not ready to sign an international transparency convention that he said Britain’s prime minister had planned to achieve ahead of the G8 summit in Northern Ireland next week, potentially...
Colleagues Are Overpaid, Say U.K. Financial Employees
Jun 6 2013 // Most U.K. financial-services employees say some within their companies are paid too much amid negative public sentiment toward the industry, according to a survey by the Chartered Institute of Personnel &...
Bermuda Minister Rejects Tax Haven Label; Sees Insurance Growth
Jun 4 2013 // Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory’s finance minister said on Monday. Google has come...
S&P Applies Revised Insurance Criteria to 22 Reinsurers and Subs
May 24 2013 // Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See...
Sidelined G7 Finance Chiefs to Discuss Financial Reforms
May 9 2013 // Some of the world’s most powerful finance chiefs will meet in an English stately home on Friday and Saturday to try to speed up banking and finance reforms, with Cyprus’ near meltdown fresh in their...
AJ Gallagher Acquires UK’s Property & Commercial Limited
May 2 2013 // Arthur J. Gallagher announced the acquisition of UK-based Property & Commercial Limited from Barbon Insurance Group. Terms of the transaction were not disclosed. “This insurance business provides retail and...
History of Bank Runs Shows Capital Limits Can Feed the Fear
Mar 29 2013 // When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had resigned within a month. Cyprus, where banks reopened on Thursday after being closed for...
Britain’s Barclays, RBS Hit Over High Compensation Scheme
Mar 11 2013 // Britain’s Barclays and RBS paid more than 500 staff over 1 million pounds ($1.5 million) in 2012, a year when both were embroiled in rate rigging and mis-selling scandals. Both Barclays and RBS are paying out...
Horsemeat Blame Game Ricochets across Europe
Feb 18 2013 // Accusations, denials and threats to sue reverberated around Europe on Friday as meat traders, food processors, retailers and governments all rejected blame for horsemeat found in ever more beef dishes across the...
RBS Fined $612 Million for Libor Rate Rigging
Feb 7 2013 // Royal Bank of Scotland will pay $612 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates, and regulators warned there is more to come in the global investigation. RBS...
Best Affirms AIG, U.S. Property/Casualty Subs Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
UK Prime Minister Cameron Promises Britons Straight Choice on EU Exit
Jan 23 2013 // Prime Minister David Cameron promised on Wednesday to give Britons a referendum choice on whether to stay in the European Union or leave if he wins an election in 2015, placing a question mark over Britain’s...
EU Countries to Receive Go-ahead for Financial Transaction Tax
Jan 22 2013 // Germany, France and nine other euro zone countries will get the go-ahead on Tuesday to push on with a financial transactions tax, a measure likely to unsettle banks but which will please voters and raise much-needed...
UK Banks Come to Terms with Britain’s Compensation Industry
Jan 14 2013 // The boss of Britain’s biggest retail bank struck a chord with the public when he complained of getting unsolicited calls from claims management firms promising him compensation from his own and other banks. But while...
Lawsuits Cast Darker Shadow Over Banks Than Libor Fines
Dec 21 2012 // While banks appear to be brushing off record fines for rigging interbank interest rates, investors are starting to worry about a rising tide of civil lawsuits from disgruntled customers. UBS shares touched 18 month highs...
UBS Admits Fraud in Libor Rigging Scheme; To Pay $1.5 Billion Fine
Dec 19 2012 // Swiss bank UBS swallowed a $1.5 billion fine and admitted to fraud on Wednesday after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates over three continents. UBS traders colluded...
UK Business Group Calls for Limit to PPI Compensation – Report
Nov 12 2012 // Britain’s government needs to limit compensation paid to customers mis-sold loan insurance, John Cridland, director-general of the Confederation of British Industry, wrote in the Times on Monday. The head of...
Royal Bank of Scotland Reaches Milestone in Recovery Plan
Oct 17 2012 // Royal Bank of Scotland is set to withdraw this week from an insurance scheme set up by Britain during the banking crisis to cover its riskiest loans, having paid the minimum required in premiums, sources familiar with the...
New SARS-like Virus Detected in Middle East
Sep 25 2012 // British health authorities have alerted the U.N. of a new respiratory virus that resembles SARS in a severely ill patient who recently traveled to Saudi Arabia, where another man died of a similar illness earlier this...
