London - The British government believes that the "decisive action" taken to stabilize leading banks will help it get through the current financial turmoil, Alistair Darling, the Chancellor of the Exchequer, said Monday.
"The steps we have taken are pretty significant," Darling told the BBC. However, he insisted that the government did "not want to run banks."
"Our sole aim is to strenghten and rebuild British banks," he said.
London, Oct 13: Scientists have solved the puzzle as to why so few dwarf galaxies have been spotted near the Milky Way, attributing the reason to the fact that home-grown dwarf galaxies keep a low profile, while recent arrivals show off.
According to a report in New Scientist, around 20 dwarf galaxies have so far been found near our galaxy, which is far fewer than expected, based on simulations of how galactic matter clumps together.
Elena D’Onghia of the Harvard-Smithsonian Center for Astrophysics in Cambridge, Massachusetts, and George Lake of the University of Zurich, Switzerland, propose that many go uncounted because they have trouble holding on to the gas needed to form stars in the crowded Milky Way.
London - Britain's Royal Bank of Scotland (RBS) announced Monday that it will be raising 20 billion pounds (35 billion dollars) of new capital under a government bail-out scheme.
The bank also said that its chief executive, Fred Goodwin, is to stand down following the recent turmoil surrounding the bank which saw its share price fall to 1.71 pence.
The announcement came as the Treasury announced details of its plan to prop up banks to the stock exchange.
London, Oct 13: A new study has suggested that Saturn’s rings may be remains of an ancient moon that shattered because of a collision with a chunk of debris 700 million years ago.
Sebastien Charnoz and colleagues at the University of Diderot, Paris, suggest that it was during the “late heavy bombardment”, 700 million years after Saturn formed, that a chunk of debris collided with one of the planet’s moons.
According to a report in New Scientist, because the moon was orbiting at just the right distance from Saturn when it shattered - within the so-called Roche limit - the tiny pieces formed the rings instead of dispersing.
This could explain why other planets don’t have rings like Saturn’s.
London, Oct. 13: The pole-dancing daughter of Muslim hate preacher Omar Bakri has slammed her dad’s extremist views.
Single mum Yasmin Fostok said that she does not care what Bakri thinks of her job, and adds that she has now disowned her dad.
“I have not done anything to be ashamed of. I’m being targeted because of my dad, which is unfair. He’s not even in the country any more. I don’t agree with what he says and haven’t spoken to him in years,” The Sun quoted Yasmin, as saying.