* Vocabulary
- Pump (verb): inject/ put
- Shake-up (noun): reform
- Insist (verb):demand specific thing/ require/ state/ assert/ swear
- Unprecedented (Adj): something never happen before.
- Pump (verb): inject/ put
- Shake-up (noun): reform
- Insist (verb):demand specific thing/ require/ state/ assert/ swear
- Unprecedented (Adj): something never happen before.
* Summarise
UK government will inject £37 billion in bailing out package into three banks which are Royal Bank of Scotland (RBS), Lloyds TSB and HBOS. However, government will conduct the right to control the operation of banks. Moreover, taxpayers will hold 60% and 40% of Lloyds TSB and HBOS respectively. Prime Minister Gordon Brown stated that ’’This is difficult times with financial markets. Bail-out was unprecedented but essential for all of us’’. He added that government will sell some of investments. In addition, the reform scheme is set up such as British Land boss Stephen Hester will be chief executive of RBS, Lloyds and HBOS will be reducing the number of Lloyds TSB shares and so on. Other development strategies are also expected. For example, London's FTSE 100 index rising by about 5% as investors reacted to the news
UK government will inject £37 billion in bailing out package into three banks which are Royal Bank of Scotland (RBS), Lloyds TSB and HBOS. However, government will conduct the right to control the operation of banks. Moreover, taxpayers will hold 60% and 40% of Lloyds TSB and HBOS respectively. Prime Minister Gordon Brown stated that ’’This is difficult times with financial markets. Bail-out was unprecedented but essential for all of us’’. He added that government will sell some of investments. In addition, the reform scheme is set up such as British Land boss Stephen Hester will be chief executive of RBS, Lloyds and HBOS will be reducing the number of Lloyds TSB shares and so on. Other development strategies are also expected. For example, London's FTSE 100 index rising by about 5% as investors reacted to the news
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