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Freddie Faces NYSE Delisting
Freddie Faces NYSE Delisting
David Prosser: The Chancellor's not-so-subtle HBOS message
Outlook Just as the Chancellor fired a warning shot across Barclays' bows yesterday with his Commons statement, so too were Sir Peter Burt and Sir George Mathewson sent a coded message. Mr Darling said any bank seeking public funding would have to meet some pretty basic criteria – demonstrating they had a sustainable business model, sustainable funding and a credible management team.
Protest ahead of HBOS takeover vote
Unions staged a protest today as Lloyds TSB shareholders prepared to vote on the proposed takeover of ailing rival HBOS.
Crude falls below $50 a barrel for first time since 2007
Oil prices plunged over $3 yesterday, briefly dipping below $50 a barrel as 16-year high US unemployment figures and plummeting stock markets caused investors to price in lower crude demand.
The end of Woolies?
Ardeshir Naghshineh, the commercial property investor who owns a 10 per cent stake in Woolworths, is thought to be in talks with another entrepreneur to make a joint bid to buy the high-street chain.
G20 Summit Communiques in full
1. We, the Leaders of the Group of Twenty, held an initial meeting in Washington on November 15, 2008, amid serious challenges to the world economy and financial markets. We are determined to enhance our cooperation and work together to restore global growth and achieve needed reforms in the world's financial systems.
Microsoft hope as Yahoo's Yang steps down
Yahoo said Jerry Yang will step down as chief executive as soon as the board finds a replacement, sending shares up 4 per cent on hopes the departure would clear the way for a deal with Microsoft.
Honda to halt production for two months
Car giant Honda is to halt production at its UK plant for two months next year in the wake of the "dramatic change" in the global market, the firm announced today.
Rate of housebuilding has halved in the past year
The Government pledged to fight on to meet housebuilding targets yesterday, despite a fall in new starts to a record low. Seasonally adjusted housebuilding starts fell by a third in the three months to September, compared with the quarter to June. Compared with a year earlier, they almost halved.
Gulf investors won't budge on Barclays rescue
Barclays risks derailing its £7bn Middle Eastern fund-raising if it tries to water down the terms of the deal to placate angry City investors. Sources in the Gulf states said yesterday that the Qatar Investment Authority and the Abu Dhabi royal family won't countenance any change to the cash call. Both the QIA and Sheikh Mansour bin Zayed Al Nahyan are said to be extremely happy with the deal as is.
Fears of rights issue at Wolseley as plumber cuts another 2,300 jobs
Wolseley, the troubled plumbing and building materials group, yesterday refused to rule out the need for a rights issue next year as the company struggles against what it described as "unprecedented circumstances".
David Prosser: The jams are no easier this side of the Atlantic
Outlook While the collapse of America's largest car manufacturers continues to fascinate and appal in equal measure, relatively little attention has been paid to the dismal outlook facing the US auto giants' opposite numbers in Europe. Britain's car industry, for example, is in a desperate state, with sales down 23 per cent last month to their lowest levels since 1991.
Screens turn red as ISEQ plummets
Trading screens across Dublin turned red as bank shares and later industrial stocks came under the hammer as a wave of negative sentiment swept global markets.
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