Britain in double recession whammy,… intensifying more government woes

The British economy has fallen into its second recession since the financial crisis after a shock contraction at the start of 2012
Gani Fawehinmi Stand up for what is right even if you are standing alone
Thomas Sankara While revolutionaries as individuals can be murdered, you cannot kill ideas!

The British economy has fallen into its second recession since the financial crisis after a shock contraction at the start of 2012

The Bank of England’s Monetary Policy Committee on Thursday announced plans to inject a further £50bn into the ailing British economy over the next three months. Explaining its decision to increase the size of the asset purchase programme from £275bn to £325bn, the MPC conceded that business surveys since the turn of the year have [...]

The new interim boss of UBS faced a daunting task on Sunday as he tries to get the Swiss bank back on its feet after Oswald Gruebel quit as chief executive over the $2.3 billion loss it ran up in alleged rogue trading. Sergio Ermotti said on Saturday the scandal had revealed a risk exposure [...]

Halifax is hoping to create a buzz in the savings world with the launch of a new Premium Bond-style monthly prize draw for savers with £5,000 or more in their accounts. Every month, the Halifax Savers Prize Draw will give away three lots of £100,000, a hundred £1,000 prizes, and a thousand £100 payout. All prizes paid by [...]

Britain’s biggest savings bank is gambling on a new tactic to attract customers – a monthly £500,000 prize draw.

Kweku Adoboli, the trader arrested Sept. 15 after UBS AG said it discovered unauthorized trades that caused a $2 billion loss, was charged with fraud and two counts of false accounting dating back to 2008.

A Bank employee of UBS bank has been arrested in London in a dramatic pre-dawn swoop today on suspicion of losing a major investment bank £1. 3bn.

The UBS trader arrested in connection with an estimated $2bn loss due to unauthorised trading at the Swiss group’s investment bank had been struggling to cope with the recent stock market volatility. According to entries on Facebook, Kweku Adoboli, a 31-year-old computer science graduate described as an “up and coming” trader by colleagues, had been following the recent market [...]

Nigeria is currently facing a lot of challenges. This explains the present anxiety among citizens about the performance direction of the present administration.

U.S. stock futures declined, following the biggest weekly drop in the Standard & Poor’s 500 Index since 2008, amid concern that a downgrade of the nation’s credit rating by S&P may worsen an economic slowdown.
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