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In the period September 2007 to December 2009, during the Global Financial Crisis, the UK government intervened financially to support the UK banking sector, and four UK banks in particular. At its peak, the cash cost of these interventions was £137 billion, paid to the banks in the form of loans and new capital.
In August 2015, a first tranche of 5.4% of the total issued share capital in the company was sold to institutional investors for £2,079m or £3.30 per share. As at 31 March 2017, this takes the governments overall stake to 71.2%. The Government has been making large provisions for losses in their public accounts. [6]
Banks estimated that $450 billion of CDO were sold between "late 2005 to the middle of 2007"; among the $102 billion of those that had been liquidated, JPMorgan estimated that the average recovery rate for "high quality" CDOs was approximately 32 cents on the dollar, while the recovery rate for mezzanine capital CDO was approximately five cents ...
UK Financial Investments (UKFI) was a limited company set up in November 2008 and mandated by the British government to manage HM Treasury's shareholdings in the Royal Bank of Scotland Group (RBS) and in UK Asset Resolution, which held the residual assets of NRAM plc and Bradford & Bingley.
The City of London strengthened its position as the world's financial capital, the export of capital was a major base of the British economy 1880 to 1913, the "golden era" of international finance. [ 118 ] [ 119 ] [ 120 ] By 1913 about 50% of capital investment throughout the world had been raised in London, making Britain the largest exporter ...
Polar Capital Global Financials Trust plc (LSE: PCFT), is a large British investment trust predominantly focused on investments in the financial services sector i.e. banks, asset managers, stock exchanges and online payment businesses. [1] It is managed by Polar Capital and the chair is Simon Corderey.
This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
M&G Recovery Fund is a British open-ended investment company launched on 23 May 1969 and, as of 31 May 2012, was the third-largest [1] open-ended fund in the UK (behind Neil Woodford's two equity income funds) with £7.4 billion of assets.