General Electric expected to set up new online bank in UK
General Electric is thought to be setting up the UK’s first new online bank since the start of the credit crisis.
GE Capital, the American conglomerate’s financial arm, is looking to take on the High Street banks with a range of savings accounts.
It recently set up an internet bank in Germany and is believed to be examining opportunities in a number of other European countries as part of moves to diversify its funding base with customer deposits.
Online: GE's new online bank will be the first to be set up since the start of the credit crisis
The online banking sector, which launched a decade ago with brand names such as Egg, Cahoot and Smile, came under the spotlight when Icelandic bank Icesave collapsed.
Coca Cola’s latest foray into bottled water is the subject of an American lawsuit just six years after it was forced to withdraw its Dasani brand from the UK.
It is being sued by a health lobby group for what it alleges is ‘deceptive’ claims over its Vitaminwater brand, launched in the UK in 2008.
A Coke spokesman said the ‘labels clearly show ingredients and calorie content’ adding: ‘We believe the plaintiff’s claims will ultimately be rejected.’
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