Tag: sell
Rightmove: Vendors show eagerness to move before Christmas
Property website, Rightmove, has today reported a major fall in asking prices in November – as vendors cut their prices amid desperation to sell their property before the Christmas slowdown. According to Rightmove, asking prices for residential property in England and Wales fell 3.2% in the month – the biggest drop since December 2007. The [...]
Bank of America Merrill Lynch to trim BlackRock stake
Bank of America Merrill Lynch and PNC Financial Services are to reduce their stakes in BlackRock – the world’s largest money manager. Bank of America will dispose of 42 million shares via a secondary offering worth more than $7 billion (£4.35 billion). Bank of America has been exploring ways to offload the stake as it [...]
RBS prepares for privatisation
Royal Bank of Scotland (RBS) is taking the necessary steps so the Government can start selling its 83% stake in the bank. According to reports, chief executive Stephen Hester was quoted as saying: The sale “won’t be conducted in one go….but I would be disappointed if there would not be the first steps towards privatisation [...]
B&B mulling over split into good bank / bad bank
Nationalised Bradford & Bingley (B&B) is reportedly considering splitting itself into two in order to raise money to repay its £18.4 billion loan from the Financial Services Compensation Scheme (FSCS). The troubled buy-to-let lender was nationalised over a year ago to prevent it from collapse which led to Spanish bank, Santander, acquiring B&B’s £20 billion [...]
UKFI admits selling stakes in nationalised banks will be “challenging”
UK Financial Investments (UKFI), the body set up to manage taxpayers’ interests in rescued banks, has today admitted that returning investments to the private sector will be “challenging”. According to the body, each household in the country has over £3,000 invested in Lloyds Banking Group and Royal Bank of Scotland (RBS), which are 43% and [...]
Innocent smoothie maker sells £30m stake to Coca-Cola
Smoothie maker Innocent is to receive £30 million from Coca-Cola, in return for a 20 percent stake, which will be used to drive the business and extend into European markets. Innocent has been the recipient of heavy criticism during the negotiations, however co-founder Richard Reed has hit out at the financing deal saying that the [...]
RBS to sell off £300bn worth of assets
Royal Bank of Scotland (RBS) is set to embark on a major restructure which will see it sell off at least 20% of its business worth around £300 billion. The bank is due to announce its full-year results on Thursday and is expected to report a £28 billion loss – setting a record in UK [...]
RBS set to announce disposal of Bank of China stake
According to reports, the Royal Bank of Scotland (RBS) is set to announce the sale of its 4.3% stake in Bank of China, which is valued at over £1.8 billion. The rumour of the sale has brought with it speculation that similar transactions will arise. Late last year, Swiss bank UBS sold its entire 1.5% [...]
Connells sells stake in Rightmove
Estate agency, Connells, is selling its 17% stake in Rightmove. The decision by the UK’s second-largest residential property agent is a further ill wind for the housing market, particularly as Connells’ 21 million shares in the website are being offered at a discount on the market price. Connells was instrumental in setting up Rightmove eight [...]
Falling house prices – disaster or opportunity?
House sales may have ground to a halt, with the Royal Institution of Chartered Surveyors reporting that transactions are at a thirty-year low, but canny homeowners are nevertheless planning to take advantage of the market. Research from Abbey Mortgages indicates that over two million homeowners see falling property prices as an opportunity to increase their [...]
Second homeowners face forced sales
The credit crisis and an economic slowdown could force one in four second homeowners in England to downsize to one property over the next two years. Economic forecasting consultancy, Capital Economics, is predicting that falling house prices and the increased cost involved in running a second home will prompt many to sell. This could mean [...]
