News / UK and world by Press Association October 8, 2018, 7:29 am FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter This month marks 10 years since the Government stumped up billions of pounds to prop up the UK banking sector, including Royal Bank of Scotland (RBS) which is still 62% owned by the taxpayer a decade on from the crash. We take a look at the major events that have impacted RBS over the past decade. 2008 – August: RBS reports a bottom line loss of £761 million for the half year. It is the bank’s first six month loss. – October 13: The UK Government injects £20 billion into RBS to help prop up the struggling lender as the financial crisis takes hold. The taxpayer now holds a 70% stake in the lender. – October: RBS announces chief executive Fred Goodwin, who has been at the helm since 2001, will step down. The now infamous banker known commonly as “Fred the Shred” for his cost cutting … [Read more...] about RBS: Tracking 10 years since the bank’s £45 billion Government bailout
Government bailouts history
POLITICS 07/30/2018 05:37 pm ET They want to do more than own the libs. By Kevin Robillard COLORADO SPRINGS, Colo. ― The Koch Network should be celebrating. The Republican Party, whose ideas and candidates the network has spent hundreds of millions of dollars promoting, is in total power at the federal level and in control of a majority of the nation’s states. This dominance grew out of the Kochs’ work: They built a political operation rivaling the Republican National Committee in influence. They seeded the tea party movement in 2010, spent $400 million trying to help Republicans win the presidency in 2012, and spent tens of millions helping the GOP win and retain control of the Senate in 2014 and 2016. But the network’s officials spent much of their annual summer confab at the luxurious Broadmoor Resort warning the 500 donors in attendance ― all of whom have pledged at least $100,000 to the network’s efforts to shape … [Read more...] about The Koch Network Finally Has GOP-Controlled Government. They’re Not Satisfied.
POLITICS 07/06/2018 12:56 am ET America steels for major fallout as it officially launches its trade war with China on Friday. By Mary Papenfuss President Donald Trump’s trade war was officially launched at 12:01 Friday morning as U.S. officials were already strategizing a controversial move to use emergency funds to mitigate the damage to farmers facing punishing retaliatory tariffs. The Trump administration officially levied tariffs on $34 billion worth of Chinese products at the start of a major trade battle predicted to exact significant costs on consumers and businesses. China was expected to announce its own comparable tariffs on $34 billion of U.S. goods Friday. Chinese officials had said they would not announce the tariffs until after the U.S. did so. The Chinese tariffs, including a 25 percent charge on soybeans, are expected to hit U.S. farmers particularly hard, since the country currently buys nearly two-thirds of the soybeans … [Read more...] about As Trade War Begins, Feds Eye $30 Billion Bailout Fund For Farmers Facing Losses
News / World by Press Association 16/06/2018, 10:36 pm FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter Greece’s left-led coalition government survived a no-confidence vote in parliament on Saturday brought over a deal to end a decades-old dispute with neighbouring Macedonia concerning the latter’s name. However, the government suffered a loss in its parliamentary majority after lawmaker Dimitris Kammenos of the nationalist Independent Greeks, the government’s junior coalition partner, voted in favour. He was kicked out of the party immediately after the vote, leaving the governing coalition with a three-member majority. Lawmakers voted 153-127 in the 300-member parliament against the motion brought by the conservative main opposition party over the deal to rename the former Yugoslav republic North Macedonia. In the agreement, Athens would drop its objections to the country joining Nato and the European Union. … [Read more...] about Greek government survive no-confidence vote over Macedonia name deal
People at a demonstration to demand jobs and social benefits in Buenos Aires, Argentina. The banner says "Damned increase of utility tariffs." Reuters/Marcos Brindicci The International Monetary Fund says it has reached an agreement to offer Argentina a $50 billion bailout. That would be the largest IMF credit line in history. A flailing currency and soaring twin deficits have been plaguing the country's economy. Argentina looks poised to get the biggest International Monetary Fund bailout in history. The IMF reached a staff-level agreement Thursday to offer Argentina, which requested aid last month when its currency hit an all-time low, a $50 billion loan as part of a three-year standby program. The credit line seeks to rein in soaring twin deficits in the country and prop up the Argentine peso. "I am pleased that we can contribute to this effort by providing our financial support, which will bolster market confidence, allowing the authorities time to address a range of … [Read more...] about Argentina looks set to get a $50 billion bailout — the biggest loan in the IMF’s history