Tag Archives: aviation

Nov 29 2012

Banks “misleading” people….NO WAY, IT’S NOT POSSIBLE!!!


Are you ready for a shock…..

Banks giving ‘misleading’ details about bad debts and may have to set aside £35billion more, BoE warns

Britain’s banks could be ‘misleading’ investors by failing to account properly for bad loans, including where they have given borrowers leeway on their debts, the Bank of England has warned.

The Bank of England urged lenders to take action to bolster their balance sheets and reveal the full extent of losses on bad debts, as well as expected compensation bills, in particular for mis-sold payment protection insurance (PPI).

The UK’s four biggest banks – HSBC, Lloyds Banking Group, Barclays and Royal Bank of Scotland – could need to increase their capital reserves by as much as £35billion between them, according to the Bank.

Read more: http://www.dailymail.co.uk/money/news/article-2240389/Banks-giving-misleading-details-bad-debts-set-aside-35billion-BoE-warns.html#ixzz2DeKgJy6A
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Related articles

 

Nov 9 2012

Zynkin news-Job losses Spain and UK -Airlines cut back


British Airways owner to cut 4,500 jobs at Iberia in bid to stem losses

More than 4,000 jobs are to be axed at Spanish airline Iberia as part of a plan by its owner, International Airlines Group, to stem the carrier’s losses

The announcement to cut jobs comes a day after IAG offered 113€ million for Vuelling, a low cost Spanish based airline.

How is this correct in this climate? How many jobs could this money have kept?

Is Spain not in a bad enough situation at present or will they argue this is the best business going forward.

What are your thoughts?….

Rafael Sánchez-Lozano, Iberia’s chief executive, said the airline was in a “fight for survival” and was “burning €1.7m every day”.

“It is unprofitable in all its markets. We have to take tough decisions now to save the company and return it to profitability,” he added.

“Unless we take radical action to introduce permanent structural change the future for the airline is bleak. However this plan gives us a platform to turn the business around and grow.”
“This turnaround plan is critical for Iberia and for the future of Spain,” he added. “A strong and profitable Iberia can create jobs and boost tourism, a key driver in Spain’s economic recovery”.