Jan 29, 20090

Again, the British Pound Bounces Back

Categories: Economic Forecast/Analysis

save-the-pound

Sterling soared once again against the US dollar as America’s federal reserve were discussing solutions to the on going financial crisis.   The British Pound climbed by 0.63 of a cent to $1.4233 following a record 23-year low of $1.35 last Friday. But the UK currency dropped against the euro to €1.0725 as anxiety appears to still remain in the country’s economy. Sterling has been oversold in recent weeks and BNP Paribas experts argue that the ... Read More

Jan 20, 20090

UK Bank Shares Collapse

Categories: Banks

rbsThe entire

The entire UK economy is in real crisis right now as the Royal Bank of Scotland announced a loss of  £28 billion which records as the biggest loss ever in the history of Britain. Today bank shares crashed and this is mainly due to the said RBS loss. RBS fell by 66 percent or 23.10p to 11.60p, its worst loss since two decades ago. RBS also owns NatWest. Lloyds Banking Group also suffered huge loss as it closed down 33.4p ... Read More