Browsing Tag

HBOS

The RBS and HBOS sinkholes

This comes via the Telegraph: UK Financial Investments (UKFI) said in its annual report that its loss on the two stakes - 70pc of RBS and 43pc of Lloyds Banking Group - had reached £10.9bn at the end of June.The losses, which are not…

HBOS and RBS get a right bollocking

I watched the proceedings of the UK Treasury Committee with HBOS and RBS this morning on Bloomberg UK TV and it was a dismal sight. It had the feel of the Nuremburg trials, honestly. The clip below doesn't do justice to how tense the…

The worst M&A deals of all-time

As the financial industry further unraveled yesterday, Mathieu Robbins of the Irish Indendent asked a worthwhile question: Was RBS the idiot company of all-time in buying ABN Amro at the top of the market? Robbins says no and offers up…

Recapitalising Britain

Prime Minister Gordon Brown has finally pulled the trigger. In the most momentous move yet in the credit crisis, the UK government is effectively partially nationalising the UK banking system. For months, I have maintained that the…

Europe is in for a rude awakening

The Europeans have no idea what is about to hit them. Their banking system is collapsing and European politicians are fighting amongst themselves. At French President Nicolas Sarkozy's crisis summit, the politicians were unable to craft a…

Lloyds gets HBOS for a song

Lloyds TSB has announced that it will buy rival HBOS for 232 pence a share. Back in May 2007, just over a year ago, HBOS shares were trading for almost £17 each. However, HBOS closed trading today at £1.47, sustaining a loss of over 90% in…
Do NOT follow this link or you will be banned from the site!