LONDON (Reuters) - The FSA said on Friday it had fined The Co-operative Bank 113,300 pounds for failing to handle complaints regarding payment protection insurance (PPI) properly.The Financial Services Authority said the Co-op incorrectly put on hold complaints over the mis-selling of the loan insurance during an unsuccessful High Court challenge by the British Bankers Association to FSA measures...
Greece's Samaras to visit Germany next week
Labels: WorldBERLIN (AP) — The German government says Chancellor Angela Merkel will meet Greek Prime Minister Antonis Samaras in Berlin next week.Merkel spokesman Steffen Seibert said Merkel will welcome Samaras to the chancellery on Tuesday.He said Friday that the informal meeting offers an opportunity for the two leaders to review progress that Greece has made in implementing reform plans. Samaras will be in...
Sweden honors WWII hero with commemoration day
Labels: WorldSTOCKHOLM (AP) — Sweden will honor its World War II hero Raoul Wallenberg with an annual commemoration day in recognition of his achievements in saving thousands of Jews from the Nazis in Hungary.Wallenberg, who would have turned 100 this year, was on a diplomatic mission in Hungary when detained by Soviet authorities in 1945. He is believed to have died in captivity, though the time and circumstances...
UK November mortgage approvals highest since January
Labels: WorldLONDON (Reuters) - Lending to Britain's consumers rose in November and British mortgage approvals for house purchase hit their highest since January last year, Bank of England data showed on Friday.The central bank has been hoping that its Funding for Lending Scheme (FLS), opened in August, would boost the flow of credit to households and businesses, thus easing what it sees as a major drag on the...
Jan
03
Are We Regulating Ourselves Back Into Recession?
Labels: BusinessLet us put an end to self-inflicted wounds," President Gerald Ford told Congress in 1975. "And let us remember that our national unity is a most priceless asset." While Ford was talking about the scars from the Vietnam War, his words seem relevant today. Our nation grapples with not one divisive issue, but a basket of them, each pulling and undermining our already battered confidence, while testing...
Judge asks Hostess to mediate with union
Labels: BusinessWHITE PLAINS, N.Y. (AP) -- Twinkies won't die that easily after all.Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won't go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week.The bankruptcy judge hearing the...
Just Explain It: What is the Strategic Petroleum Reserve?
Labels: BusinessEliminating America's dependency on foreign oil has been a policy goal for at least the last two U.S. Presidents. According to the International Energy Agency, by 2020, the U.S. will overtake Saudi Arabia as the world's number one oil producer.However, there's still some work to do. The United States Energy Information Administration reported that 45% of the petroleum consumed by...
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