Santander to launch no-fee current account November 19, 2009 ABBEY-OWNER Santander yesterday unveiled plans to bring a no-fees current account to the UK, as it ups its bid to take on the big four high street banks. The Santander Current Account – which will have no account, overdraft or overseas withdrawal charges – will only be available to customers who take out a mortgage [...]
Drama in the Deep South July 7, 2010 FORD COUNTY BY JOHN GRISHAM ARROW PAPERBACK, £7.99 BY ZOE STRIMPEL John Grisham, trusty friend of travelling businessmen for 20 years, is the definition of “best-selling author”. But what distinguishes him from the slews of so-called best-selling thriller writers, many of them attempting to be just like him, is the watertight quality of his writing [...]
Citi could lose Mexican bank October 18, 2009 Mexico’s Supreme Court will this week investigate whether it should force Citigroup to sell its lucrative Mexican subsidiary, which is 34 per cent owned by the US government following its bailout during the global credit crisis. Foreign governments are generally not allowed to own banks in Mexico, and the nation’s senators have requested the probe [...]
Citi could lose Mexican bank October 18, 2009 Mexico’s Supreme Court will this week investigate whether it should force Citigroup to sell its lucrative Mexican subsidiary, which is 34 per cent owned by the US government following its bailout during the global credit crisis. Foreign governments are generally not allowed to own banks in Mexico, and the nation’s senators have requested the probe [...]
Former Enron boss gets an appeal on technicality October 13, 2009 THE US Supreme Court has agreed to hear an appeal by former Enron chief executive Jeffrey Skilling against his 2006 conviction for fraud. Skilling, who is serving a 24-year sentence for his involvement in the giant accounting fraud, has secured an appeal after his lawyers argued his 19 convictions were based on flawed legal theory. [...]
There is no such thing as a free lunch in banking November 25, 2009 IT came as a bit of a shock. Britain’s new Supreme Court, which has just been spun out from the House of Lords, dealt the Office of Fair Trading a bitter blow yesterday by ruling against it in its test case against high street banks. Their Lordships ruled unanimously that deciding whether overdraft charges – [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 30, 2009 FINANCIAL TIMES CARLYLE SUED OVER COLLAPSED FUNDA prominent Kuwaiti conglomerate is suing the Carlyle Group in a local court, alleging that the US private equity firm misrepresented the safety of its affiliate, Carlyle Capital Corp (CCC), a public debt fund that collapsed in 2008. The firm, National?Industries Group, invested $50m in CCC, which was marketed [...]
Metro Bank nears approval March 2, 2010 Metro Bank, the start-up high street lender backed by US entrepreneur Vernon Hill, is set to be granted a banking licence by the Financial Services Authority (FSA) within days, City A.M. understands. The City regulator is currently at the last stage of the approval process, where the licence is granted subject to final proof of [...]
Court battle for Deutsche in New York September 23, 2009 DEUTSCHE Bank and a banking unit of Saudi Arabia’s Algosaibi family battled in court yesterday over whether to throw out a $74.2m (£45.3m) claim by the German bank, part of a flurry of lawsuits involving billions of dollars and allegations of fraud. New York State Supreme Court Justice Bernard Fried said he expects to rule [...]
Court battle for Deutsche in New York September 23, 2009 DEUTSCHE Bank and a banking unit of Saudi Arabia’s Algosaibi family battled in court yesterday over whether to throw out a $74.2m (£45.3m) claim by the German bank, part of a flurry of lawsuits involving billions of dollars and allegations of fraud. New York State Supreme Court Justice Bernard Fried said he expects to rule [...]