Lloyds TSB finally take over HBOS
Even though the ink is still wet on the Lloyds TSB and HBOS merger agreement this brings to an end one of the most controversial and long-running takeover battles in recent UK times. What should have been a fairly swift rescue bid for HBOS has dragged on for many months and recently went to court when a group of Scottish business people decided to take action against the merger. Many management hours have spent battling the public criticism of the deal at a time when the sector really should be looking to the future.
Thankfully the directors of Lloyds TSB and the HBOS management who will be part of the enlarged group can now sit down and put together a plan of action to ensure the merger is as smooth as possible. The next major controversy will be the number of redundancies required to make the deal happen and how this will affect the Scottish economy. There has been much debate and friction between Lloyds TSB and the Scottish government however both parties now need to sit down and agree the way ahead. The merged group is now the largest in the UK and controls a significant part of the UK mortgage market.
Share this..
Related stories
Will London financial markets lose market share in the future?
Stephen Green, chairman of HSBC, believes that the City of London financial markets are set to lose significant market share to the likes of Hong Kong, Singapore and Shanghai but not just because of controversial tax levies placed upon the City. He believes that while London is still a prominent financial market, due to strengths such as the language and the time zone, new up-and-coming markets wi...
Read MoreDo I need a pension?
Many people don't take the opportunity to arrange a pension plan. There are other things in life, particularly at a young age, which people would find more important than organising a pension. This is perfectly normal, but a major role of a financial advisor is to ensure the protection of a person’s long term financial future, and starting a pension scheme is one way of doing this.
I...
Read MoreWill we ever see the $1.1 trillion rescue package?
To a fanfare of trumpets and applause Gordon Brown was able to announce a $1.1 trillion rescue package funded by G20 members yesterday. However, just 24 hours after the decision was announced we have the Russian government backing down and refusing to contribute amid suggestions that some of the money within the $1.1 trillion package is a rehash of earlier promises. Is the worldwide population yet...
Read MoreGold continues to rise as investor concerns grow
The price of gold has now risen above the psychological $1000 barrier as investors look towards safe havens in times of trouble. The price of the precious metal has been on an upward spiral since February 2001 when the price was just $254. A mixture of turmoil in international stock market, ailing economies and general investor concern about the outlook for the worldwide economy has seen many inve...
Read MoreWhy is the Tote still in government hands?
Back in the dark days of the mid 1990s and again in 2001 the government promised to complete the sale of the Tote which is the government owned betting organisation which has an exclusive licence to run pool based services. While we have seen a number of near misses only for the EU to step in and block at least one of them, the latest move to sell the company has been put on hold as one by one th...
Read More