Lloyds bank set to disinvest stake in esure
Lloyds bank has today revealed plans to sell off its 70% stake in esure at a price which is believed to be in excess of the current book value of £185 million. It is believed that Peter Woods, co-founder and chairman of esure, is to acquire the stake via a new holding company. Those who follow the insurance market may be aware that Peter Woods, originally famed because of his Direct Line insurance creation, set up the esure business with HBOS back in 2001.
However, since HBOS became part of the Lloyds bank group there has been friction between Peter Woods and the Lloyds bank management and the sale of the Lloyds bank stake was expected by many. Esure is a well-known insurance brand in the UK and is also the owner of the infamous Sheilas Wheels brand with its array of striking adverts on the TV.
The company specialises in various niche markets and has made an excellent name for itself with profits topping £38 million in 2008. Quite what Peter Woods has in store for the future remains to be seen but he appears relieved to be on the verge of taking total control of his "baby".
Shoppers using less cash
06/06/2014 A survey by the British Retail Consortium (BRC) has revealed that UK consumers are using alternative payment methods more regularly than ever, leading to cash usage for the past five years falling by 14%. The main reason for the fall in the number of people using cash as a payment method is due to a growing host of alternative payment methods, such as online sales, contactless car...Read More
Is it time to buy land?
As the housing market continues to fall like a stone many people have overlooked what is happening to the land market - land with no planning permission or income stream. Demand for land which could one day be the location for a new home (or homes) has died a death with the housing market tilted well in the over supply section at the moment. So is it now time to look at land as an investment?
The HBOS story unfolds
As the markets opened today there was a sudden surge after news that AIG has been saved by the US authorities with a multi-billion dollar bailout package. However, this boost of confidence was very short lived with the UK markets falling back in to the down trend of recent days. The biggest loser today is HBOS which at one point fell by over 50% breaking the £1 barrier as it did so. More news...Read More
Are we seeing a recovery on the UK high street?
A number of UK retail companies have, over the last few days, published suggestions that life on the high street could be improving with sales set to rise in the short term. While we await official retail figures from the various retail agencies and more detailed guidance from retail companies, it does appear as though the last couple of weeks have seen an increase in activity on the high street.<...Read More
UK Mortgage Approvals Falling
02/05/2014 UK mortgage approvals fell in March for a second consecutive month according to the Bank of England. The figures show that mortgage approvals have fallen by as much as 11.9% over the past two months and are now the lowest since October 2013. This is despite figures from Nationwide Building Society which suggest house price inflation is at its highest for seven years.