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News Round Up – w/c 5.6.17

News Round Up – w/c 5.6.17

 

Your round-up of the stories that you should discuss at interview this week.

IS attack kills 12 people in Iran

Reported by Anna Flaherty

IS have claimed responsibility for an attack on the Iranian parliament and Ayatollah Khomeini’s mausoleum (the city’s most important political shrine commemorating a celebrated revolutionary leader). This occurred in Iran’s capital, Tehran, on Wednesday. 12 people have been killed with many more injured. Officials killed the four attackers following hours of gunfire. This is the first IS attack on Iran. The most powerful Revolutionary Guards in Iran are accusing Saudi Arabia and the US of being responsible for the attacks. Whilst Saudi Arabia has been suspected of funding IS, the reasoning behind the accusation on the US is based on the fact that Donald Trump met with Saudi Arabia’s leader only last week. Meanwhile the US state department has condemned the attack. IS has said that there will be more attacks against Iran and the Shia Muslim community (the branch of Islam that believes that Muhammad designated a successor). It is also believed that IS have been attempting to radicalise members of the other branch of Islam (Sunni Islam, which believes that Muhammad did not designate a successor) within Iran.

Read more on The Guardian, Sky or on the BBC

 

Santander Rescues Banco for €1

Reported by Ben Thatcher

Banco Popular was on the brink of collapse but has been saved by Santander. Banco is a Spanish bank, which was struggling due to bad property loans it had made. The European Central Bank stated that the significant deterioration in liquidity would soon lead to the bank not being able to pay its debts as they fall due. Santander paid €1 for Banco in a watershed deal pushed through by EU regulators. Santander will raise the capital to shore up the bank’s finances in a €7 billion rights issue.

Banco has been attempting to raise liquidity in recent months, by selling off various assets. A bidding process for the bank also took place in recent months. The Single Resolution Board pushed forward the sale after it was informed how serious this problem was. Ana Botin, chairman of Santander, described this is a good deal as it increases the geographical diversification of the bank, though its share value fell 3% in early trading. When complete, Santander will be the biggest banking group in Spain.

Read more on the BBC, Sky or on the Telegraph

 

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