Iceland agrees to compensate UK

It has been revealed that the Icelandic government has finally agreed to repay the UK as well as the Dutch authorities following the collapse of the Icelandic banking system. Read more

Tags: compensation, Icesave dispute, icesave, banks, agreement, scheme, uk government

Financial downturn could last another eighteen months

According to an industry official the financial downturn that the nation is experiencing at the moment could last for another eighteen months until the property slump in the United States sorts itself out. Andrew Hornby, the chief executive of HBOS, said that it could take until 2010 for house prices in the United States to start rising again, and this could mean that the financial problems in the UK will persist for some time to come. Read more

Tags: long time, interview, uk government, sixty, Economy of the United Kingdom, meantime reports claim, credit crunch, house