British government to become major stakeholder in RBS bank
London - The British government is to own a majority share of almost 58 per cent in the Royal Bank of Scotland (RBS) after shareholders failed to take up a rights issue to inject new capital into the ailing bank. RBS announced Friday that only 0.24 p...

[ Published on : Fri, 28 Nov 2008 04:26 ]

Bank of England governor urges banks to start lending again
London - The governor of the Bank of England indicated Tuesday that further nationalizations in the British banking sector could not be ruled out if banks continued their lending freeze. Mervyn King told a parliamentary committee that the resumption ...

[ Published on : Tue, 25 Nov 2008 11:24 ]

BA half-year profits nosedive in turbulent environment
London - Pre-tax profits at British Airways (BA) slumped by nearly 92 per cent to just 52 million pounds (83 million dollars) over the summer period - one of the bleakest on record the airline said Friday. Half-yearly profits between April and Sept...

[ Published on : Fri, 07 Nov 2008 12:40 ]