News Tag: sale
February 7, 2010
Property owners in danger of losing their homes as a result of consumer debt could soon be better protected.
The Ministry of Justice has launched a consultation on proposed new measures that would set a minimum level of such debt before a court can order the sale of a home.
Under the current system, a property owner who cannot pay ...
Protection for homeowners unable to pay credit card debt
by Gill Montia
January 5, 2010
HSBC has jumped on the bandwagon of January sales by launching cut-priced mortgages, savings accounts, and insurance products.
"All over the world, people are making New Year resolutions and sorting out their finances is often high on that list," said Brendan Cook, HSBC spokesperson.
"This year, we want to make it easier for our customers to keep that resolution.
"We are providing a wide range ...
HSBC announces January sale
by David Masters
November 10, 2009
Lloyds Banking Group, which is 43% owned by the taxpayer, has today announced it will axe 5,000 jobs by the end of 2010, bringing its total number of job losses this year to 12,500.
Since its merger with HBOS last autumn, Lloyds has axed thousands of jobs due to overlap within the megabank.
However, a spokesperson for the banking giant said some ...
Lloyds axes a further 5,000 positions
by Kay Murchie
November 5, 2009
The announcement that US car giant General Motors (GM) abandoned plans to sell a majority stake in its European car business Opel, including its UK brand Vauxhall, has led to a protest by thousands of the 25,000 workers at Opel's four factories.
In March, GM announced plans to offload Vauxhall and sister company, Germany-based Opel, and finally agreed to ...
Thousands of Opel workers in protest after GM u-turn
by Kay Murchie
November 4, 2009
US car giant General Motors (GM) has abandoned plans to sell a majority stake in its European car business Opel, including its UK brand Vauxhall.
GM had agreed to sell Opel and Vauxhall to Magna, a Canadian car parts supplier, to raise funds after facing collapse earlier this year.
The shock decision comes after talks were at the advanced ...
General Motors abandons advanced talks to sell Opel
by Kay Murchie
November 1, 2009
Last week, it was announced that nationalised Northern Rock is to be split into two, after receiving the necessary approval from the European Union (EU).
Meanwhile this weekend, it has been confirmed by Chancellor of the Exchequer, Alistair Darling, that Lloyds Banking Group, Royal Bank of Scotland (RBS) are to broken up.
The new banks will be standard retail banks, ...
Banking sector overhaul sees Lloyds and RBS broken up
by Kay Murchie
October 28, 2009
UK airports operator BAA has reported a pre-tax loss of £784.7 million for the first nine months of the year, compared with a £519 million loss a year earlier.
The group said it had lost £225 million on Gatwick Airport, which it confirmed it had sold last week for £1.51 billion. However, today BAA said that it had valued the airport for ...
Gatwick airport sale hits BAA
by Kay Murchie
October 21, 2009
BAA has today confirmed the sale of Gatwick airport to Global Infrastructure Partners for £1.51 billion.
The sale of the airport is due to be finalised at the end of the year - subject to approval by the European Union.
The sale marks the end of BAA's 40-year monopoly of London's three main airports - Heathrow, Gatwick and Stansted.
However, the £1.51 billion ...
BAA confirms sale of Gatwick airport
by Kay Murchie
October 20, 2009
Morgan Stanley has struck a deal with investment manager Invesco which will see the US bank sell its retail asset management business for $1.5 billion (£913 million) in stock and cash.
The purchase price includes $500 million in cash and $1 billion in stock. Morgan Stanley is to acquire a 9.4% equity stake in Invesco, making it Invesco’s largest shareholder.
The sale ...
Morgan Stanley sells loss-making division
by Kay Murchie
Lloyds sells non-core business to Rathbone
by Kay Murchie
October 16, 2009
Nationwide has launched a number of initiatives aimed at helping first-time buyers and homemovers.
For first-time buyers, the building society is discounting its reservation fee by up to £500 and offering a £250 reservation fee discount, plus free legals.
The lender is also extending this offer to its four and five-year fixed rate deals.
The move cuts the reservation fee on a three-year fix ...
Nationwide cuts fees and rates
by Gill Montia
August 6, 2009
ITV has sold Friends Reunited for £25 million to Brightsolid Limited, the company owned by DC Thomson, Dundee-based publisher of children’s comic, the Beano.
The sale comes as the broadcaster announced a pre-tax loss of £105 million in the first half of 2009, while advertising revenues plummeted by 15% - however this was marginally better than the 17% decline in the ...
ITV sells Friends Reunited for £25m
by Kay Murchie
July 6, 2009
Northern Rock is once again offering mortgages to existing customers.
The move follows a gap of well over a year during which period borrowers coming off fixed deals either reverted to the Rock's standard variable rate or were forced to go elsewhere.
The nationalised lender is strictly interested in retaining its best customers and only those with at least 25% equity in ...
Northern Rock offers mortgages to existing customers
by Gill Montia
June 12, 2009
US investment group BlackRock is to buy Barclays fund management division, Barclays Global Investors (BGI), for £8.2 billion.
BGI is one of the biggest money managers operating in more than a dozen countries and manages more than $1 trillion for investors around the world. The unit owns the iShares division, which Barclays had agreed to sell to CVC Capital ...
Barclays agrees sale of BGI to BlackRock for £8.2bn
by Kay Murchie
May 19, 2009
It has been reported that the Government is in talks to sell off its stakes in part-nationalised banks: Lloyds Banking Group and Royal Bank of Scotland (RBS).
UK Financial Investments Ltd (UKFI), which was established to oversee taxpayer’s interest in UK banks, is believed to be sounding out investors abroad.
However, a speedy sale is unlikely since UKFI is expected to ...
Potential investors being sought to buy bank stakes
by Kay Murchie
May 11, 2009
Barclays has received further offers for its iShares business despite agreeing to sell off the division to private equity firm, CVC Capital Partners, last month for £3 billion.
However, under the terms of the agreement, Barclays had the right to seek a higher bidder within a 45 day period.
As a result, private equity groups Apax, BC Partners and Hellman & Friedman ...
Barclays receives further offers for iShares
by Kay Murchie
May 3, 2009
According to the Financial Times, Deutsche Telekom, which owns T-Mobile, is under pressure to leave the UK market after disappointing financial results.
The two main shareholders are the German government and the private equity group, Blackstone, are calling for the UK mobile telephone operations to be sold as they are under performing in an ever increasingly competitive UK market.
As the fourth largest mobile ...
T-Mobile might sell UK division
by Peter Charalambous
April 27, 2009
It has been reported by The Sunday Times that the Government is planning to sell crisis-torn Northern Rock by the end of the year.
Under a plan to retrieve some the hundreds of billions of pounds injected into the banking sector, the Government is preparing to divide the nationalised lender into two: one good and one bad bank, according to the newspaper.
It ...
Government plans to sell Northern Rock
by Kay Murchie
April 10, 2009
Barclays, who has continually resisted calls for taxpayer cash injections, is going to keep hold of 20 percent of its stake in iShares, although a deal will be finalised within the next few weeks as selling off the asset management business in needed.
It is being sold off to the private equity firm, CVC Capital Partners, for £3bn. However, Barclays ...
Barclays finally agrees to sell off iShares division
by Peter Charalambous
