Review of 2008 - Part Four

clock

In the final part of IFAonline's review of the year, the Pre-Budget Report and Retail Distribution Review cause a stir in financial services as Barack Obama wins the US Presidential election.

October Speculation over the future of the proposed merger between Lloyds and HBOS was overshadowed early in October by a £50bn bank rescue package unveiled by Alistair Darling. Barclays, HBOS, HSBC, Lloyds TSB, Abbey, Nationwide Building Society, RBS and Standard Chartered immediately signed up to about £25bn worth of the package but, just a week later, Darling announced an additional £37bn cash injection for ailing giants RBS, HBOS and Lloyds TSB. Apparently, even Botswana had safer banks than the UK. Elsewhere, Bank of England governor Mervyn King admitted for the first time the UK...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FCA warns firms and finfluencers to 'keep social media ads lawful'

FCA warns firms and finfluencers to 'keep social media ads lawful'

Regulator sets guidance for financial services promotion

Isabel Baxter
clock 26 March 2024 • 3 min read
PA Awards 2024: Winners' photo gallery from the night!

PA Awards 2024: Winners' photo gallery from the night!

The industry's best were celebrated in London last Wednesday

Professional Adviser
clock 26 March 2024 • 1 min read
CII to reduce headcount by eight to 'deliver better outcomes'

CII to reduce headcount by eight to 'deliver better outcomes'

Part of the group’s plan to streamline processes and services

Isabel Baxter
clock 26 March 2024 • 1 min read