InfoAnda - British PM urges banks to come clean over bad assets

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Lonmin deal pressures other South Africa mining firms | | 19 September 2012
Colombia wants mine safety review after blast | | 28 January 2011
Minogue and Muse aim to get Glastonbury back on track | | 26 June 2010

Australia cyclone shuts copper refinery, coal mines | 2 February 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : British PM urges banks to come clean over bad assets

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: British PM urges banks to come clean over bad assets AFP - 2 hours 1 minute ago LONDON (AFP) - - Prime Minister Gordon Brown told British banks Saturday they must own up to the extent of their bad assets amid more reports his government could launch a fresh bailout of the struggling sector. In a Financial Times interview, Brown did not rule out the possibility that banks could get a further injection of taxpayers' money after big names including Royal Bank of Scotland (RBS) were bailed out last year in a 37 billion pound recapitalisation. His comments came after shares in RBS and Barclays plunged Friday after US giant Citigroup announced an 8.29 billion dollar fourth quarter loss and Bank of America got a 20 billion dollar state bailout. "One of the necessary elements for the next stage is for people to have a clear understanding that bad assets have been written off," Brown told the Financial Times. "We have got to be clear that where we have got clearly bad assets, I expect them to be dealt with." Officials are reportedly working on plans to buy banks' bad assets -- exacerbated by some consumers and businesses' inability to pay their debts as the credit crunch bites -- and place them in a "bad bank", or to underwrite the toxic assets. The BBC said the government would next week announce an insurance scheme which would allow banks to pay a fee and have their bad loans underwritten by the taxpayer up to a point. The industry reportedly has some 200 billion pounds (222 billion euros, 295 billion dollars) of bad assets. Brown's government is expected to unveil a series of corporate lending guarantees next week to free up activity in areas including housing and car finance, the FT said. "It's the same problem of access to the banks and to funding," Brown told the paper. "Obviously, the sooner the corporate bond market moves more effectively, the better." A spokesman for the Treasury said: "We have been working with the banks for the past couple of weeks. We will be making an announcement on additional measures soon." Ahead of the G20 summit which will be in London in April, Brown also warned against a retreat into "financial isolationism". Speaking to reporters later Saturday, he stressed the need for international cooperation to revive the credit markets, adding he had been in talks with world leaders. "It is the exposure of British banks to international losses that is the biggest problem that we face," Brown said. "So what we need is an international solution." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Zimbabwe unveils $100 trillion banknote 'Dogs don't wear condoms,' says Baywatch star Anderson Boy George jailed for 15 months for imprisoning escort Citigroup divides to conquer after 8.29 bln dlr loss Hormone drives sexy women to infidelity, says study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Sunday, 18 January 2009
Christian killed in northern Iraqi city
Hamas vows to fight until Israel leaves Gaza
EU piles pressure as Kremlin hopes for gas crisis deal
Iran says jails accused in U.S.-backed plot: report | International |
Malaysia Islamists in decisive by-election win
Malaysia's opposition wins by-election
NKorea says may retain nukes, raises border tensions with Seoul
Obama calls for new US 'declaration of independence'
Researcher: North Korea has `weaponized' plutonium
Obama calls on America to reject bigotry
Kellogg's Recalls Cracker, Cookie Items As FDA Investigates PCA's Salmonella Outbreak
'Sexting' Leads To Child Porn Charges Against Teens
Obama Calls Bush A 'Good Man Who Loves His Family And His Country'
A look at China's Lunar New Year
Global slump casts a pall over Chinese New Year
International Year Of Astronomy Celebration Marks 400th Anniversary Of Galileo Using First Telescope
Transgender model steals the show in Fashion Rio
Israel begins ceasefire in Gaza Strip
Israeli ceasefire begins in Gaza | International |
Israeli PM declares halt to Gaza offensive
Russia, Ukraine PMs reach gas deal: official | International |
British PM urges banks to come clean over bad assets
Obama arrives in Washington for inauguration
Pilot reported bird impact before crash: officials
Obama sees challenges ahead
7 killed, dozens wounded in Afghanistan attacks
US welcomes Israel's ceasefire declaration
Scientists discover new marine life off Tasmania
Taliban threats close Pakistan schools
Amy Poehler's Spring Breakdown lightens Sundance | Entertainment |
4 stabbed during club's party for 'Notorious' film
Crowd endures cold to cheer Obama in Baltimore
Obama illustration finds place at Portrait Gallery
Amy Poehler's "Spring Breakdown" lightens Sundance
Spike Lee's a Sundance kid with `Passing Strange'
Putin painting auctioned for over $1 million
Gaza rockets hit southern Israel
Gaza rockets hit southern Israel: Israeli TV | International |
Egypt to host international Gaza summit Sunday
One dead, six missing, three survive French 'copter crash
U.S. sends home six Guantanamo prisoners | International |
LG Display says market hit bottom, focus on mobiles
French military helicopter crashes with 10 aboard
China confirms toddler infected with bird flu | International |
New York Times in finance talks with Mexican magnate
Frenchman speaks nonstop for 124 hours to set speech record
Germany's Merkel counts on a boost from state vote | International |
Malaysia government stumbles to another poll defeat | International |
LG Display says market hit bottom, focus on mobiles
Obama inauguration could put a stop to Guantanamo trials
Birds 'filled' windscreen before jet crash: officials
100 in Hong Kong protest Israeli attacks on Gaza
LG Display says market hit bottom, focus on mobiles | Technology |
Zimbabwe's first lady allegedly hits photographer in HK
Japan PM: Will fight to enact economic measures
Lance Armstrong has high hopes for Obama
Thai PM plans cash handouts, village grants
Relative of Macau leader on Interpol wanted list in graft scandal
Taiwan hands out vouchers in bid to lift faltering economy
Indonesia extends search for bodies from ferry disaster
NATO: 1 soldier killed in southern Afghanistan
Detroit auto show opens
China's toy exports hit by global crisis: state media
Amy Poehler's Spring Breakdown lightens Sundance | Entertainment |
Taiwan hands out $2.5 billion in spending vouchers
Tom Cruise says grew up wanting to kill Hitler | Entertainment |
Bright prospects for low-cost airlines in 2009
Economic crisis tames Year of the Ox celebrations in Asia
Rival studios reach deal on 'Watchmen' release
Miyazaki says he can't stand modern animation
Gaza rockets hit Israel despite unilateral ceasefire | International |
Turkey's PM travels to Brussels to bolster EU bid
Russia, Ukraine agree to resume Europe gas supplies
Mugabe urges opposition to accept power-sharing deal | International |
Pakistan troops kill 15 Taliban: security official
Mugabe threatens to break off Zimbabwe talks
Two Pakistani soldiers, 14 Taliban, killed in clash | International |
Tamil Tiger head may have fled Sri Lanka: army chief | International |
Erroneous Western democracy not for China: official | International |
Turkey's PM travels to Brussels to bolster EU bid | International |
Japan PM, opposition rally members as poll looms | International |
Armstrong overcomes pre-race nerves on comeback
Peanut butter products in Singapore not from suspected tainted US plant
Japan opposition leader renews vow to take power
Thailand accused of returning asylum-seekers to sea to die
Australian navy intercepts suspected refugees
Sri Lanka military: Troops take another rebel camp
NTBS Officials Say Preliminary Evidence Consistent With Birds Striking Jet
Japan PM vows to fight to enact economic measures
Obama, Biden And Families Arrive In Washington, Prepare For Tuesday Inauguration Day
Yaacob says Indian Muslim groups have role to play in tough economic times
SKorean president names new ambassador to US
Two Pakistani soldiers and 14 Taliban killed in clash
Landslide at Indonesian mine kills 4; 11 missing
Tom Cruise says he dreams of killing Hitler
US pop star Perry mistakenly given French award
Tom Cruise says he dreams of killing Hitler
Tom Cruise says grew up wanting to kill Hitler
Japan's top CEOs say crisis shows US shortcomings
U.S. welcomes Gaza ceasefire, Iran says not enough | International |
Hamas leader confirms Gaza militants' one-week truce offer
Merkel starts election year in pole position with state vote
Hamas announces one-week truce after Israel ceasefire
Pakistan says will reopen at-risk girls' schools
80,000 households donate 40,000kg of rice for the needy
Thai PM plans cash handouts, village grants
Pakistanis rally against Israeli attacks in Gaza
NTUC says more youths aged under 30 will start feeling impact of downturn
Tiger supremo may have fled, rebels surrounded
Philippines identifies 3 suspects in kidnapping
S’porean wanted by Interpol in connection with Cortina theft
6-Year-Old Boy Dies At Monster Truck Show In Washington
Sri Lanka army seizes camp, says rebels boxed in
FDA: Don't Eat Any Products Containing Peanut Butter, Except Out Of A Jar
Report: Macau leader's relative wanted by Interpol
China's GOME says chairman has resigned after police probe
Cruise too 'stiff' to play would-be Hitler killer
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01