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In October 2008, the Australian government made A$4 billion available to nonbank lenders unable to issue new loans. After discussion with the industry, this amount was increased to A$8 billion. In October 2008, the Swiss National Bank funded a reorganization of UBS that removed bad assets from its books, and later sold its equity stake at a profit.
The Credit Guarantee Scheme formed part of the UK government's banking intervention measures announced on 8 October 2008, becoming operational on 13 October 2008. The scheme was designed to allow banks to issue debt guaranteed by the government, with the intention of enabling them to borrow more, and more cheaply, and hence lend more.
Following the October 2008 bailouts of RBS, HBOS and Lloyds TSB together with Lloyds TSB's January 2009 merger with HBOS, the Government was holding a 43% stake in Lloyds Banking Group, but then on 6 March 2009, after it became apparent that the HBOS merger had been bad for Lloyds since HBOS had made losses of £11bn, the Government announced it would increase its stake in Lloyds to 65% (77% ...
The company planned to use that store as a test model prior to fine-tuning and expanding in that region. In April 2017, they bought a former B&Q store in Folkestone to be the fifth Bunnings store in the UK. [47] On 25 May 2018, after mounting losses, Wesfarmers sold the UK and Ireland Bunnings/Homebase operation to Hilco for a nominal sum of £ ...
October 14, 2008: Having been suspended for three successive trading days (October 9, 10 and 13), the Icelandic stock market reopened on October 14, with the main index, the OMX Iceland 15, closing at 678.4, which was about 77% lower than the 3,004.6 at the close on October 8, after the value of the three big banks, which had formed 73.2% of ...
The business, focused on Bunnings hardware stores, became a national and international brand, with stores across Australia and New Zealand, [4] and until 2018, the UK and Ireland. [1] The state's logging competition, organised by the Australia Day Sports Committee, named the 12in. standing block the Robert Bunning Memorial Cup, after Bunning ...
A UK government budget surplus in 2001-2 was followed by many years of budget deficit, [16] and following the 2007–2008 financial crisis, a period of economic recession began in the country. The first austerity measures were introduced in late 2008. [17]
The New Deal had, as its signature, the power to withdraw benefits from those who 'refused reasonable employment'. 'Workfare' in the UK can arguably be traced back to 1986, and compulsory 'Restart' interviews for claimants after a certain period, and as such the first introduction of 'conditionalities' with the possible outcome of 'sanctions' for perceived non-compliance.