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KAVENKOY
Joined: 10/04/2008 Posts: 1787
Message Posted: 18/09/2008 09:14 | Join or Login to Reply | Message 1 of 3 in Discussion |
| Details of Lloyds TSB's dramatic rescue of ailing mortgage giant Halifax Bank of Scotland are expected to be revealed. The BBC and Sky News said a takeover deal had been agreed, though the parties themselves and financial authorities would not comment. The BBC said both firms' boards had agreed to a deal, at a price of 232p per HBOS share, following talks. The deal was to be formally announced later this morning, it said. Markets FTSE 100 4,912.40 -113.20 Dow Jones 10,609.66 -449.36 € / £ rate 0.79 -0.00 £ / $ rate 1.814 +0.03 Manage your portfolio Earlier HBOS, whose share price plunged by as much as 70% this week amid funding worries, confirmed it was in "advanced talks" over a merger that would create a £30 billion banking giant with nearly a third of the UK mortgage market. Banking Guides and Tools Free Brochures ------------- Maxi ISAs Inheritance Tax Planning Saving plans Multi-manager funds Investment trusts SIPPs & annuities Equity release Overseas properties Property funds Sell your endowment Insurance services Saving for children School fee planning Debt advice Money guides Wealth Management Wine investing Commodities Funds Emerging Market Funds Income Funds Share dealing Spread betting CFDs Online trading Finace for expats Foreign exchange Health Insurance Asia Pacific Japan Funds Cash Funds UK Funds Corprorate Bonds Funds US Funds Specialist Fund European Funds Global Funds Ten Minute Tutor ------------- Choosing a current account Paying off debt Comparing credit cards Improving your credit rating Paying off your overdraft Shopping online Should I bank online? Guides ------------- Guide to current accounts Safer online banking Switching banks Make £100 from your bank Protect your PC from viruses ------------- Tools ------------- Find the right bank account Holiday currency rates It is thought the Government may waive competition rules to get the transaction through, and reportedly follows talks between Lloyds TSB chairman Sir Victor Blank and Prime Minister Gordon Brown. The Treasury and the Financial Services Authority (FSA) have also been involved. Spokesmen for Lloyds, HBOS, the Treasury and the FSA declined to comment on the reports. A takeover would end uncertainty about the health of HBOS, but there were immediate fears about the implications for the 135,000 UK staff employed by both firms - 65,000 by HBOS and the remainder at Lloyds TSB. FEEDMoney Headlines Lloyds seals deal for HBOS takeover Dow nosedives on banking fears Asian stocks crumble on US meltdown Privatising public services slammed Stocks tumble after Fed AIG move FTSE slides to fresh three-year low Bank of England to extend funding US government in £47bn AIG rescue Aviva reveals £148m exposure to AIG Bidding war expected for airport Alex Salmond, the First Minister of Scotland - where about 17,000 HBOS jobs are based - attacked the "spivs and speculators" he blamed for targeting the Scottish-based bank. He said any merger between the two should be based on measured discussion, not a "shotgun marriage" driven by speculation. The potential merger is the latest dramatic episode this week which has already seen the collapse of 158-year-old investment bank Lehman Brothers and the £47.2bn bail-out of |
flightholiday
Joined: 19/07/2007 Posts: 3217
Message Posted: 18/09/2008 11:42 | Join or Login to Reply | Message 2 of 3 in Discussion |
| The world is in financial pain be carefull of not having all your eggs in one basket. |
fire starter
Joined: 19/06/2008 Posts: 3401
Message Posted: 18/09/2008 15:19 | Join or Login to Reply | Message 3 of 3 in Discussion |
| i wonder if lloyds are sacking any of their indian workforce? we got so fed up with talking to someone on the other end of the phone, who couldn't speak english, we closed our accounts with them. |
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