Tag

Natwest

All articles tagged with #natwest

finance7 months ago•9 min saved

UK Government Completes NatWest Exit After 17 Years

The UK government has sold its final shares in NatWest, marking the end of a 17-year period since its bailout during the 2008 financial crisis, which was aimed at saving the economy from the collapse of major banks like RBS. Despite the bank's troubled history and the long duration of government ownership, experts believe that banking regulations and resilience have improved, reducing the likelihood of future taxpayer-funded bailouts, although new risks like cyberattacks remain significant.

via BBC|

#2008-financial-crisis #bank-stability #banking

economy-and-business2 years ago•2 min saved

"NatWest Chairman Faces Criticism for Downplaying Challenges of UK Home-Buying"

NatWest Chairman Howard Davies has faced criticism after claiming it's not "that difficult" to buy property in Britain, despite the current economic challenges including high interest rates, inflation, and a cost-of-living crisis. His comments have been met with backlash from social media and housing advocates, who argue that his perspective is out of touch with the realities faced by renters and potential first-time homebuyers. The average UK property price remains high, particularly in major cities like London, and while there is some anticipation of easing interest rates in 2024, the housing market outlook is still considered challenging.

via CNBC|

##economy-and-business #housingcrisis

business-and-economy2 years ago•5 min saved

NatWest Chairman Under Fire for Downplaying Difficulty of Home Buying in the UK

Sir Howard Davies, the chair of NatWest, sparked controversy by suggesting on the BBC's Today programme that it is not "that difficult" for people to buy homes in the current market, despite the need to save more for a deposit than in the past. His comments were met with criticism for being out of touch, especially in light of the widening gap between house prices and average earnings, the rising cost of living, and increased average age of first-time buyers. Sir Howard later clarified his remarks, emphasizing the importance of responsible lending and acknowledging the challenges faced by first-time buyers. Meanwhile, the average UK property price stands at £287,105, with mortgage rates showing signs of easing, which could potentially boost buyer confidence in the future.

via BBC.com|

##business-and-economy #homeownership

finance2 years ago•1 min saved

NatWest Faces Regulatory Breaches and Plunging Shares Amid Farage Debanking Investigation

The UK's Financial Conduct Authority (FCA) has identified potential "regulatory breaches" in NatWest's handling of the decision to close Nigel Farage's accounts. NatWest has acknowledged shortcomings in its treatment of Farage and will implement all recommendations from an initial review. The bank will disclose a decision on whether to dock former CEO Alison Rose's pay over the matter soon. The FCA is reviewing NatWest's governance, systems, and controls in light of the potential breaches.

via Reuters|

#debanking #finance #financial-conduct-authority

politics2 years ago•1 min saved

"Banking Controversy: Farage, Coutts, and the Hypocrisy Unveiled"

The UK Treasury has called a meeting with bank bosses to discuss account closures following the controversy between Nigel Farage and NatWest. The government is concerned about claims that accounts are being closed due to individuals' political views. NatWest CEO Dame Alison Rose has apologized to Farage, who believes his account at Coutts was closed because of his views. The government plans to introduce stricter rules for bank closures, including providing a 90-day notice period and requiring banks to explain their reasons for closure. The Treasury's response comes after allegations of "client de-banking" raised significant concern in Parliament.

via BBC|

#bank-closures #freedom-of-expression #natwest