All Entries Tagged With: "HBOS"

RBS, Barclays, Abbey and HBOS dither to cut SVR

Royal Bank of Scotland (RBS), NatWest, Barclays (BARC.L), Santander owned (SAN.MC) Abbey and HBOS (HBOS.L) are still undecided if they will lower their Standard Variable Rates (SVR) after the Bank of England yesterday cut the base interest rate by 0.50 percent, however they all said that they will be passing

Royal Bank of Scotland (RBS) and HBOS: Verge of Collapse

Royal Bank of Scotland (RBS) and HBOS (LON:HBOS) were close to collapse in the second week in October, due to the British banking giants having difficulty getting short-term funding as the credit crunch swept around the world, according to the BBC program Panorama.
The authorities had said without the funding that both RBS and HBOS would [...]

HBOS announce £8 billion of bad debts ahead of Lloyds merger vote

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HBOS Plc (LON:HBOS) the troubled bank is just hours before a vote will be announced over its merger with Lloyds TSB (LON:HBOS) have announced its bad debt and other losses have jumped to £8 billion in just two months.
Shares in HBOS plunged over 19 percent on the profit warning from the UK bank, the ailing [...]

Lloyds TSB and HBOS Merger: Up to 40,000 could lose their jobs

Lloyds TSB (LON:LLOY) takeover of HBOS (LON:HBOS) could see 600 branches close and up to 40,000 jobs as the two banks merge to create the a UK superbank.
As the recession looms over the industry and the Lloyds and HBOS deal completes Mid-January the new merged bank titled Lloyds Banking Group will have to resume [...]

Lloyds TSB merger with HBOS faces legal challenge

Lloyds TSB (LON:LLOY) merger with Halifax Bank of Scotland (LON:HBOS) will come under a legal challenge today when the Competition Appeal Tribunal decides if the government made the right decision to bypass competition concerns allowing HBOS to be rescued, the hearing will begin at midday today (December 8).
The Merger Action Group (MAG) are the action [...]

Lloyds TSB, HBOS and Bank of Scotland: Aid for Small Businesses

Lloyds TSB (LON:LLOY) and HBOS (LON:HBOS) have unveiled packages to help small businesses. Both banks are in the process of merging to create a super bank.
Bank of Scotland is in talks with the European Investment Bank to allow discounted lending rates for small businesses with £250 million funding.
Lloyds TSB is set to help businesses with [...]

FTSE 100 Slow Start: HBOS and Lloyds TSB Gain

In London this morning the FTSE 100 index has been extremely slow, something brokers have not seen for quite a while. Everyone has the eye on the FTSE today hoping that it will reach 4262 if it does then it will mean we saw the biggest weekly gain ever on the FTSE 100. Early this [...]

95.98 per cent of Lloyds TSB shareholders vote yes

A whopping 95.85 percent of Lloyds TSB (LON:LLOY) shareholders voted for the HBOS (LON:HBOS) takeover to go ahead, even though some shareholders were not happy about some aspects of the deal.
Comments weighed heavily on HBOS Chief Executive Officer. Andy Hornby’s consultancy fee, others worried about the government’s

BBA & James Crosby Ex HBOS cheif warn on mortgages

The British Bankers Association (BBA) released a report today that shows that mortgage approvals fell from 23,383 in September to 21,584 in October. The report also shows that it’s extremely close to the record low in August of 21,363.
The BBA reported that the number of approvals fell by 52 percent since

Lloyds TSB and HBOS deal is as ‘good as done’

After 96 percent of Lloyds TSB (LON:LLOY) shareholders voted yes to the HBOS (LON:HBOS) takeover analysts are now predicting the deal will go ahead and it’s as ‘good as done’.
The deal has caused huge speculation over the last few weeks about whether shareholders of both HBOS and Lloyds TSB would back the deal, knowing that [...]

Update: Lloyds TSB shareholders approve HBOS takeover

Lloyds TSB (LON:LLOY) shareholders today at an extraordinary general meeting in Glasgow regarding the controversial merger with HBOS (LON:HBOS) have given their approval. The move comes a day after Alistair Darling the Chancellor warned that if the deal failed it could end up extremely costly for HBOS.
It has been widely expected that Lloyds TSB

Lloyds TSB and HBOS Investor Vote Update

Lloyds TSB (LON:LLOY) shareholders will be voting today to decide if they want the bank to take over HBOS (LON:HBOS). Yesterday the Chancellor of the Exchequer Alistair Darling made it clear that if they rejected the merger deal it could end up being extremely expensive for the owner of Bank of Scotland and Halifax (HBOS).
If [...]

RBS, Lloyds TSB and HBOS Nosedive: Investor Hopes Disappear

Royal Bank of Scotland (RBS) fell to the lowest level in 16 years yesterday, with the UK Treasury injecting £37 billion ($55.5 billion) into the UK bank next week it gives little time for investors to regain hope and want to invest in the bank when the stock is deteriorating so rapidly.
RBS, which was Britain’s [...]

HBOS Union Accord Push for Lloyds TSB Merger

Lloyds TSB (LON:LLOY) taking over HBOS (LON:HBOS) is the best thing that could happen right now since there is no other serious bidder according to trade union Accord.
Accord that is the trade union which represents the employees of HBOS said it’s would be unlikely that HBOS could survive as an independent bank. The general secretary [...]

Stocks Fall Hard: Lloyds TSB and HBOS on Takeover Vote

With two days to go before Lloyds TSB (LON:LLOY) shareholders get to vote on the HBOS (LON:HBOS) takeover shares in both HBOS and Lloyds TSB have tumbled, with HBOS falling 10.8 percent to 77.1 in early trade and Lloyds TSB seeing a 9.8 percent decline to 149.6.
The deal has sparked major controversy due to the [...]