Money Talk Blog

PPI or payment Protection Insurance is meant to provide regular income to a person for loan or debt repayment. Such insurance covers have received unwanted coverage from press which says lot of lenders and financial companies have sold that in unethical manner. It is been argued that companies have sold them with financial obligations which are out of knowledge of borrowers. This has added a financial deal without any knowledge of borrowers. If this is to be kept aside, these financial instruments when sold properly provide a great source of mind-relief and protection to its customer. What is page rank? PPI covers come in ... Read Full Story

Big British banks bailed out by taxpayers in the wake of the credit crunch will have to sell off large chunks of their businesses in exchange for the billions in state aid they received during the crisis, the government said Sunday. The assets being sold off would be reserved for new entrants to the British banking market, effectively creating three new banks over the coming years. Treasury chief Alistair Darling said the move was in the interest of competition. "What you really want to do is have quite a substantial divestment — perhaps branches or perhaps particular institutions that they own — made available ... Read Full Story

State-controlled Royal Bank of Scotland Group PLC said Monday that European Union regulators will require it to sell more assets sales than originally expected, part of an industry shakeup announced by the government this weekend. Treasury chief Alistair Darling on Sunday said all three banks rescued by taxpayer money — Lloyds Banking Group, Northern Rock Plc and RBS — would divest units. On Monday, RBS said negotiations between the British Treasury and the European Commission, the executive arm of the EU, over the bank's bailout terms were "in their final stages, and will include some divestments not initially contemplated." RBS shares fell 7.1 percent ... Read Full Story

Royal Bank of Scotland, rescued by the government in the wake of the global financial crisis, said Monday that it planned to axe about 3,700 jobs across its retail operations in Britain. "RBS has begun a process of consultation with staff in the UK regarding a restructuring of its Retail Banking division that will result in losses of approximately 3,700 jobs," the state-owned banking group said in a statement. The announcement comes as the government is on Tuesday set to lay out plans to break up Royal Bank of Scotland and another lender it rescued, Lloyds Banking Group. RBS earlier Monday said it would ... Read Full Story

Britain's government will pour up to another 40 billion pounds into bailed out lenders Royal Bank of Scotland, Lloyds Banking Group and Northern Rock ahead of a planned selloff, newspapers said Monday. The extra money will shore up the troubled banks as part of government plans to be announced this week to break up and sell off parts of the three lenders, the Daily Telegraph said. The huge shake-up comes as the government seeks to recoup taxpayers' cash used to prop up the banks during the world financial crisis and increase competition in the sector. Lloyds Banking Group (LBG) is 43 percent owned by ... Read Full Story