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Royal Bank of Scotland posts £15m profits for the first 6 months of 2009
Posted by purplemoon on August 7th, 2009

The part-nationalised Royal Bank of Scotland has posted strong figures for the first half of 2009, as Chief Executive Stephen Hester admits the last six months have been 'monumentous' for the beleagured bank...

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Lloyds announce heay losses
Posted by purplemoon on August 5th, 2009

Part-nationalised lender Lloyds Banking Group has reported pre-tax losses of £4bn for the first half of this year.

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Barclays bank posts a profit of £2.98bn
Posted by purplemoon on August 3rd, 2009

Barclays has posted a profit of £2.98bn for the first half of the year, up 8% on the same period of 2008.

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General Motors to file for bankruptcy protection
Posted by purplemoon on May 31st, 2009

General Motors will file for bankruptcy protection later today, after attempts for it to submit a viable restructuring plan have failed.

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White House Philosophy Stoked Mortgage Bonfire
Posted by purplemoon on December 21st, 2008

The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, “scared the hell out of everybody.”

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Morgan Stanley may be the next bank to succumb to the credit crisis
Posted by purplemoon on September 19th, 2008

INVESTORS were waiting for news of yet more potential rescue deals in the US banking sector today as reports suggested that Morgan Stanley would be the next to succumb to the credit crunch.

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Lloyds TSB and HBOS create a trillion pound giant
Posted by purplemoon on September 18th, 2008

THE merger of Halifax Bank of Scotland and Lloyds TSB will create a mega-bank holding more than £1trillion of assets.

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