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.
Shanks receives bid approach from Carlyle Group
After months of speculation it has been revealed that waste management company, Shanks has received a bid approach from Carlyle Group of £1.35 a share. It is believed that Carlyle has made a number of approaches over the last few months but this is the only one which has been announced to the market with Shanks directors not sure whether the earlier approaches were "serious enough". It would a...Read More
What does 2010 hold for the UK stock market?
As 2009 comes to a close investors and analysts are starting to look ahead to 2010 and forecast the various scenarios we can expect to experience. So what does 2010 hold for the UK stock market and UK investors as a whole? The truth is that opinion is very much split with regards to the 2010 economy which will impact heavily on the UK stock market and other investment markets. Some analysts bel...Read More
Could BP really suspend dividends?
Overnight the dispute regarding the Gulf of Mexico oil disaster has intensified with Pres. Obama suggesting that BP should suspend all dividend payments in the short-term to cover the cost of cleaning up after the oil spill. So would BP really consider suspending dividends? Earlier this week the BP management step forward to confirm that there was sufficient cash flow and sufficient assets with...Read More
BSkyB places 10.4% stake in ITV
As expected, BSkyB has today confirmed the placing of 404.4 million shares in ITV at a price of 48.5p each. This now brings the company's shareholding in ITV down to 7.5%, a figure which the Competition Commission is happy with, although it does crystallise a £348 million loss on the 10.4% share sale. The company has confirmed that the residual 7.5% stake will be held in the medium term for inves...Read More
National Express shares in demand
It has been a rollercoaster period for National Express shareholders with a potential bidder walking away after months of negotiations, the company's bankers increasing pressure and last week we saw Stagecoach emerge as a possible merger partner. However, National Express directors stand accused by some in the city of attempting to "ramp up" the share price ahead of a planned rights issue next wee...Read More