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Fitch downgrades Lloyds and RBS

Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland from AA- to A.

It has also placed Barclays’ rating on negative watch.

Fitch says the downgrades are a result of a perceived decline in the UK government’s inclination to bail out the banks were they to get into difficulty, particularly following the recommendations of the Independent Commission on Banking.

It adds that it has put Barclays’ rating on negative watch because it judges global trading and universal banks to have business models that are particularly sensitive to market sentiment and confidence.

The downgrades come after Moody’s downgraded the ratings of 12 UK banks and building societies last week.


Incentive disclosure cuts new-build risk

As a bid to instil confidence in the new-build market, the launch of the strengthened Disclosure Of Incentives form is well timed.

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


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