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Barclays turns down Government aid

Barclays has revealed that it will not be asking the Government for aid in the form of its Asset Protection Scheme.

The bank has confirmed that its capital position and resources were expected to meet the capital requirements of the FSA after application of a stress test to determine resilience to stressed credit risk, market risk and economic conditions.

The bank has not chosen to follow the route of RBS and Lloyds Banking Group which may have resulted in the Government owning a percentage of Barclays.

Barclays also revealed that it is discussing the potential sale of its iShares business with a number of interested parties.

Barclays group chief executive John Varley says: ”In making our judgement about the Asset Protection Scheme, we have looked carefully at the economics of participation, and we have talked to many investors. This has led us to today’s decision.”


EU may end naming conflict

Problems over counterparty disclosure could be resolved with the forthcoming review of the EU prospectus directive, according to NDFA.

HMRC announces tax changes

HM Revenue & Customs has rolled out a series of tax changes in a bid to streamline how businesses and consumers work with the governing body.

Pensions need to be fair for all

It seems that someone with common sense has taken an effective role within the FSA, as I read with great pleasure of its decision to cease accruals to the FSA’s defined-benefit pension scheme – albeit this will not take place until March 31, 2010.

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


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