Co-op bank: Needs £1.5bn more capital
London - AFP
The Co-operative Bank on Monday said that it was putting in place a plan to increase its capital cushion by an additional £1.5 billion to tackle a hole in its balance sheet. The bank, which as a so-called mutual is owned by its 4.7 million customers, said in a statement that it would raise the new capital by issuing a bond and new shares, with £1.0 billion being raised this year and the remainder in 2014. "We have put in place a detailed and comprehensive solution to meet the current and longer-term capital requirements of the Bank. In doing so we have agreed a plan to ensure its future," said Euan Sutherland, chief executive of The Co-operative Group, the bank's parent.
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London - DPA
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Spain - DPA
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Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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