online.wsj.com - 10/11/2008
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The U.K. government is expected to unveil Monday morning a plan that could hand it control of two large banks, Royal Bank of Scotland Group PLC and HBOS PLC -- the latest in a series of aggressive government moves that are remaking the world's financial system with lightning speed. At the same ...
business.timesonline.co.uk - 10/6/2008
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business.timesonline.co.uk —
An emergency plan to pump billions of pounds
of taxpayers cash into Britain s banks emerged yesterday...
as the global financial crisis deepened. In Germany Angela Merkel, the Chancellor, buried any remaining semblance of a unified European response by ...
(more)
German savings pledge raises stakes for Gordon Brown
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UK to Invest in Banks on Monday
Calculated Risk —
... £12 billion, is to ask the government to underwrite a £15 billion cash call. HBOS, which is Britain’s biggest provider of mortgages, is requesting up to £10 billion. Lloyds TSB, which is in the process of acquiring HBOS, and Barclays require £7 billion and £3 billion. ... The British bank rescue could leave the government owning 70% of HBOS and 50% of RBS. ... Further capital is also available and the Treasury has increased the total amount to £75 billion. Here is the WSJ article: U.K. Banks to Announce Details of Plan The Times article also comments on Morgan Stanley: ...
UK Bailout: Details to be released at 7 AM Monday (London Time)
Calculated Risk —
The bailout is to be announced Monday at 7 AM London Time (2 AM ET Monday AM). The London stock market might be closed. Current London Time: From the WSJ: U.K. Banks to Announce Bailout Details Some of the U.K.'s largest banks are expected to detail early Monday their participation in a bailout plan that could force the departure of some of their top executives, according to people familiar with the situation. The announcement, aimed for about 7 a.m., is expected to include details on how much will be raised from the government and private investors. ... One plan under ...
Royal Bank of Scotland: Is Nationalization Good or Bad for BCE-LBO Deal?
SeekingAlpha.com: Home Page —
... If the British government is essentially taking over The Royal Bank of Scotland (RBS) via a 15 billion Pound equity infusion this morning, is this 1) good for the Ontario Teachers-led buyout of BCE (BCE), or 2) is it the death knell? According to the Wall Street Journal, the new ownership structure will also include a new CEO. RBS is one of the four banks leading the buyout lending effort, along with Toronto-Dominion Bank (TD), Citigroup (C) and Deutsche Bank (DB). ...
Cool New Bank Moves, Part II
Trader Daily Combined Feed —
... in Asia on Monday, including Hong Kong, Australia and South Korea. Tokyo's Nikkei Stock Market was closed for a holiday.
U.S. Treasury Secretary Henry Paulson is finalizing details of a U.S. plan to inject capital directly into banks, a move similar to those announced by the U.K. and other European nations. The Treasury is expected to provide details of the program as soon as this week and it could be up and running shortly, say people familiar with the matter.
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