Private equity giant applies for British banking licence
It has been revealed that US private equity giant Blackstone has applied for a UK banking licence and could become the latest in a long line of companies looking to take advantage of confusion and disappointment with the traditional UK banking arena. The company is one of the largest buyout operations in the world with experience in many areas of business and contacts aplenty.
The rumour is that the company is looking to work alongside fund manager Cambridge Place to put together a venture called "The Home and Savings Bank" which could be in place as early as the first quarter of 2010. However, there is a potential drawback for the new operation with an FSA banking licence application potentially taking up to 12 months before approval may be granted.
It is interesting to see that at the slightest sign of recovery in the UK economy more and more large businesses are looking towards the UK banking sector as a potentially new area of investment, taking advantage of the disappointment and confusion currently evident in the sector. Only a few days ago we saw Virgin Money making a positive move in the banking sector and now we see Blackstone following suit. Who will be next to join the party?
Share this..
Related stories
More problems in the airline industry
Shares in Japan Airlines fell 11% overnight amid concerns that the company is on the verge of filing for bankruptcy with a £10 billion debt pile. Despite the fact that the company has offers from American Airlines and Delta to take a stake in the company, the Japanese finance minister has confirmed that no more state funding will be made available for the airline. This is just the latest in a len...
Read MoreRent prices up 3%
16/01/2015 A survey from LSL Property Services has shown that the cost of renting a home in the UK has risen by 3% throughout 2014. The average residential rent cost was £745 at the end of 2013, and rose to £767 by the end of 2014 according to the buy to let index from LSL Property Services who own Your Move and Reeds Rains. This strong price growth comes despite some month on month falls...
Read MoreManufacturing data supports hopes of recovery in worldwide economy
This week we have seen positive manufacturing data from China, the Eurozone, India, Thailand, the US and even the UK. Despite the fact that recovery in the above areas is progressing at a very different speeds there are hopes that positive manufacturing data released this week could mark a significant turning point in the recovery of the worldwide economy.
The most startling turnaro...
Separate Tube Disputes Lead To New Walkouts
The RMT Union has taken the lead in two new disputes on the London Underground and called for a 24 hour strike at 11 stations across the capital on Friday. This last minute strike although relatively small in numbers is set to paralyse the capital and bring more pressure on the London transport network. So what has happened?
These new disputes seem to revolve around both a breakdo...
Who will be next to fall to a fallen prey?
Now that the Cadbury saga has ended, investors are looking around to see which sectors and which companies could well come under attack from foreign predators. The fact that sterling is so weak in the currency exchange markets has given foreign investors more firepower which could prompt a whole host of offers and aggressive bids for UK household names. While many believe that the UK banking se...
Read More