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Blue Monday Crash 2009
On Monday, 19 January 2009, a date previously known as Blue Monday, British banking shares collapsed in a rout of selling after Royal Bank of Scotland (RBS) announced the biggest corporate losses in British history. The shares fell over 67% in a single day. Shares in all other British banks suffered heavy losses. The next day Lloyds Banking Group and Barclays fell sharply again. RBS and HSBC continued to fall. RBS News reports on RBS indicated a £28 billion loss for 2008, and the UK government pledged to increase its stake in the company to 70% . There was speculation that nationalisation was imminent. Billions of pounds were wiped from its stock market value despite the Government’s pledge to keep it afloat with more money from the taxpayer. As Gordon Brown set out plans to increase public ownership to 70 percent of what was once one of the world’s biggest financial conglomerates, City investors dumped the shares in a selling frenzy.http://business.timesonline.co.uk/to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blue Monday (date)
Blue Monday is the name given to a day in January (typically the third Monday of the month) said by a UK travel company, Sky Travel, to be the most depressing day of the year. The concept was first published in a 2005 press release from the company, which claimed to have calculated the date using an "equation". It takes into account weather conditions and thus only applies to the Northern Hemisphere. Scientists have dismissed the idea as baseless pseudoscience. History This date was published in a press release under the name of Cliff Arnall, who was at the time a tutor at the Centre for Lifelong Learning, a Further Education centre attached to Cardiff University. '' Guardian'' columnist Ben Goldacre reported that the press release was delivered substantially pre-written to a number of academics via public relations agency Porter Novelli, along with an offer of money to those who offered to put their names to it. A statement later printed in the ''Guardian'' sought to distan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Bank Of Scotland
The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established in 1724 to provide a bank with strong Hanoverian and Whig ties. Following ring-fencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separate PRA banking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyds Banking Group
Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695. The Group's headquarters are located at 25 Gresham Street in the City of London, while its registered office is on The Mound in Edinburgh. It also operates office sites in Birmingham, Bristol, West Yorkshire and Glasgow. The Group also has extensive overseas operations in the US, Europe, the Middle East and Asia. Its headquarters for business in the European Union is in Berlin, Germany. The business operates under a number of distinct brands, including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Former Chief Executive António Horta-Osório told ''The Banker' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barclays
Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces its origins to the goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, twelve banks in London and the English provinces, including Goslings Bank, Backhouse's Bank and Gurney, Peckover and Company, united as a joint-stock bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first cash dispenser. Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in 2008. Barclays has a pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA), respectively. HSBC traces its origin to a hong in British Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company's initials. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866. HSBC has offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers. As of 2022, it was ranked no. 38 in the world in the Forbes rankings of large companies ranked by sales, profits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gordon Brown
James Gordon Brown (born 20 February 1951) is a British former politician who served as Prime Minister of the United Kingdom and Leader of the Labour Party (UK), Leader of the Labour Party from 2007 to 2010. He previously served as Chancellor of the Exchequer in Tony Blair's Premiership of Tony Blair, government from 1997 to 2007, and was a Member of Parliament (United Kingdom), Member of Parliament (MP) from 1983 to 2015, first for Dunfermline East (UK Parliament constituency), Dunfermline East and later for Kirkcaldy and Cowdenbeath (UK Parliament constituency), Kirkcaldy and Cowdenbeath. He is the most recent Labour politician as well as the most recent Scottish politician to hold the office of prime minister. A Doctor of Philosophy, doctoral graduate, Brown studied history at the University of Edinburgh, where he was elected Rector of the University of Edinburgh, Rector in 1972. He spent his early career working as both a lecturer at a further education college and a t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London from its settlement by the Romans in the 1st century AD to the Middle Ages, but the modern area named London has since grown far beyond the City of London boundary. The City is now only a small part of the metropolis of Greater London, though it remains a notable part of central London. Administratively, the City of London is not one of the London boroughs, a status reserved for the other 32 districts (including Greater London's only other city, the City of Westminster). It is also a separate ceremonial county, being an enclave surrounded by Greater London, and is the smallest ceremonial county in the United Kingdom. The City of London is widely referred to simply as the City (differentiated from the phrase "the city of London" by ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Wednesday
Black Wednesday (or the 1992 Sterling crisis) occurred on 16 September 1992 when the UK Government was forced to withdraw sterling from the European Exchange Rate Mechanism (ERM), after a failed attempt to keep its exchange rate above the lower limit required for the ERM participation. At that time, the United Kingdom held the Presidency of the Council of the European Union. The crisis damaged the credibility of the second Major ministry in handling of economic matters. The ruling Conservative Party suffered a landslide defeat five years later at the 1997 United Kingdom general election and did not return to power until 2010. The rebounding of the UK economy in the years after Black Wednesday has been attributed to the fall in the value of sterling and the replacement of the ERM with an inflation targeting monetary stability policy. Prelude When the ERM was set up in 1979, the United Kingdom declined to join. This was a controversial decision, as the Chancellor of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession In The United Kingdom
Great may refer to: Descriptions or measurements * Great, a relative measurement in physical space, see Size * Greatness, being divine, majestic, superior, majestic, or transcendent People * List of people known as "the Great" *Artel Great (born 1981), American actor Other uses * ''Great'' (1975 film), a British animated short about Isambard Kingdom Brunel * ''Great'' (2013 film), a German short film * Great (supermarket), a supermarket in Hong Kong * GReAT, Graph Rewriting and Transformation, a Model Transformation Language * Gang Resistance Education and Training Gang Resistance Education And Training, abbreviated G.R.E.A.T., provides a school-based, police officer instructed program that includes classroom instruction and various learning activities. Their intention is to teach the students to avoid gan ..., or GREAT, a school-based and police officer-instructed program * Global Research and Analysis Team (GReAT), a cybersecurity team at Kaspersky Lab *'' Great!'', a 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The United Kingdom
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland, England, and Wales shared a monarch from 1601 but their economies were run separately until they were unified in the 1707 Act of Union. Ireland was incorporated in the United Kingdom economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the industrial revolution that began in the mid-eighteenth century. The developments brought by industrialization resulted in Britain becoming the premier European and global economic, political, and military ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2009 In The United Kingdom
Events from the year 2009 in the United Kingdom. Incumbents *Monarch – Elizabeth II *Prime Minister – Gordon Brown ( Labour) *Parliament – 54th Events January * 1 January – A British soldier from 6th Battalion The Rifles, later named by the Ministry of Defence as Sergeant Christopher Reed, is killed in an explosion in Southern Afghanistan. This takes the total number of British forces to die in the conflict to 138. * 2 January – ''Celebrity Big Brother'' returns to Channel 4 for the first time since 2007 following the racism controversy that dominated that year's show. Participants include La Toya Jackson, Verne Troyer and Ulrika Jonsson. * 5 January **Cold weather consisting of snow and freezing temperatures causes widespread disruption across the UK. Travel routes are severely affected including roads and railways, in addition to Luton and Birmingham airports. The weather also leads to the closure of many schools which were due to return after the Christm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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