A group of businessman have launched a legal challenge against the proposed Lloyds TSB / HBOS merger, claiming the Government’s approval was illegal.
The Merger Action Group (MAG), which is led by Malcolm Fraser, claimed that business secretary, Lord Mandelson, waived competition rules and that his decision was ‘unlawful‘.
Mr Fraser, an Edinburgh architect who was in [...]
The Financial Services Authority (FSA) is threatening to fine banks and building societies that are heavy handed with homeowners who fall into arrears with mortgage repayments.
The regulator has written to the chief executives of mortgage lenders, giving them until 31st January to review their policies.
The FSA’s managing director of retail, Jon Pain, explains that [...]
The credit card industry has been given two weeks to reform itself for the benefit of its customers or face Government action
John Lewis today reported another fall in sales as the High Street braced itself for its toughest Christmas in several years
If you dream of a cosy cottage in the Highlands or a slick warehouse in London, prices are in freefall and your ideal home may be within reach
Due to the small take-up of its £15 billion share offer by investors, the Government is to own 57.9% of RBS (RBS).
This was widely expected as shares in the bank were trading below the 65.5p offer price announced last month.
Last week, shareholders voted by 99% in favour to take the Government money, however, under the [...]