Mervyn King turns on the bankers
Mervyn King, the governor of the Bank of England, yesterday hit back at the UK banking profession and admitted that UK regulators missed an opportunity to clamp down on excessive bonuses and remuneration packages during the depths of recession. As we covered in one of our earlier articles, Mervyn King was most certainly in apologetic mood yesterday and appeared to be attempting to curry favor with the unions.
Despite the fact that a number of union representatives turned their backs on the Mervyn King and walked out of during his speech he was given a far better reception than many had expected. When the governor of the Bank of England turns on the UK banking community then we know that the sector is most certainly public enemy number one. Quite why Mervyn King has taken this particular stance at this particular moment in time is something which is slightly puzzling.
However, the bottom line seems to be that the UK banking arena has been cut adrift more than ever before and historic friends that have defended the sector now appear to be turning against it. Whether the introduction of Mervyn King to the mix will make the UK banking arena think again is something which many people will be considering.
UK University fees under review
The UK government is in the midst of a review of the costs associated with university education in the UK with a number of parties very vocal in their support for different issues. It looks as though the current education fees of £3,000 a year could be increased to as much as £5,000 or possibly £7,000 per annum if the opinion of university vice chancellors is taken into account. However, this h...Read More
Will Hershey have to bid £8.60 a share for Cadbury?
The twists and turns regarding the Cadbury takeover continue with speculation in the market today that Hershey is on the verge of launching its own independent bid for the operation. While analysts are sceptical as to whether the company could match the financial power of Kraft Foods, assuming Kraft Foods is determined to acquire Cadbury, some analysts expect a bid in excess of £8 a share and pos...Read More
Cadbury investor could bail out at 820p a share
Unofficially it is believed that at least one of Cadbury's top-10 institutional shareholders would consider an offer in the region of £8.20 a share for the UK chocolate maker. This comes just hours after Cadbury issued a relatively upbeat trading statement although on reflection some analysts are concerned that the upbeat statement may just be a little shy of what is required to beat off the pote...Read More
Will companies take advantage of the stock market rise?
Barratt Developments is set to launch a £700 million fund raising exercise, the funds from which will be used to shore up the company's balance sheet. There are also rumours that rival housebuilder Redrow is also considering such a move at a time when share prices have remained fairly buoyant despite the fact that underlying balance sheets and in some cases trading is still very difficult.
Google Stocks lose £13.7bn Value
Google shares took a massive plunge after the web giant accidentally released the details of their quarterly performance to the public early. The mistake is thought to have cost Google £13.7bn, and has confirmed suspicions that the company is suffering the results of decreased revenue from web advertisers. The announcement that Google’s profits were down 20pc was scheduled to take place afte...Read More