Friday, 25 November 2011
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Weston Mercury, 26 Nov 2011
AFTER ongoing legal disputes over North Somerset Council’s investment in an Icelandic bank, a councillor has spoken of the risks which more overseas investment may pose to taxpayers’ money.
As of September 30, the council had £58.2million invested in banks, deposits and government bonds, according to the treasury management report, which was recently considered by the council’s executive.
Now the council has confirmed it will invest £3million with the Overseas Chinese Banking Corporation, in Singapore. Full story
Fears over council risking British taxpayers' money investing with OCBC
AFTER ongoing legal disputes over North Somerset Council’s investment in an Icelandic bank, a councillor has spoken of the risks which more overseas investment may pose to taxpayers’ money.
As of September 30, the council had £58.2million invested in banks, deposits and government bonds, according to the treasury management report, which was recently considered by the council’s executive.
Now the council has confirmed it will invest £3million with the Overseas Chinese Banking Corporation, in Singapore. Full story
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