Wednesday, Nov 19, 2008
Introducing Britains New Super Bank
Timesonline: Lloyds TSB wins vote for HBOS merger
Lloyds TSB’s shareholders today voted through the bank's rescue takeover of HBOS, owner of Halifax and Bank of Scotland, with 96 per cent of investors backing the deal.
A merger between the two banks, brokered by Prime Minister Gordon Brown in September, will create a lender with 145,000 staff and 3,000 branches across the UK.
At today's meeting, shareholders also supported Lloyds TSB's plan to raise £5.5 billion to shore up its balance sheet, including £1 billion from the Treasury which will buy preference shares in the bank. Until Lloyds TSB pays back the Government’s £1 billion investment, it will not be allowed to pay bonuses to its directors
Posted by flintster1994 @ 03:11 PM (629 views) Add Comment
13 Comments
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1. flintster1994 said...
Sorry folks. Just realised how many articles that i've posted. Will stop now!
2. fjcruiser said...
Are these shareholders out of their mind ?
3. jack c said...
flintster1994 - for my money you can post as many articles as you want so long as they are realistically relevant to the hpc theme.
As for "Introducing Britains New Super Bank" - this is a little way off yet but will (IMO) come in the form of the Government taking all UK Banks into temporary public ownership.
4. seanb303 said...
http://www.thedailymash.co.uk/news/business/nothing-can-possibly-go-wrong-with-gigantic-new-bank-200809181264/
NOTHING CAN POSSIBLY GO WRONG WITH GIGANTIC NEW BANK
HBOS and Lloyds TSB last night created a monstrous new banking entity safe in the knowledge that nothing can possibly go wrong.
5. titaniccaptain said...
Just been to the dentist for a filling and thought I would take a look at the mash on my mobile to calm my nerves down..............................BAD MOVE..................What is on the front page of the mash??????? That nasty scene from the marathon man with the dentist...............Honest you couldnt make it up if you tried
6. Amos said...
turkeys voting for christmas.
7. planning4acrash said...
Yup, well, of course, the Monopolies and Mergers Commission (MMC) are busy investigating the monopoly that local farmers have over their local milk customers when selling raw milk, that, contrary to pasteurized milk, is extremely good for you, increases bone density, immune system, does not cause lactose intollerance and significantly reduces allergies. It appears that, just as the war on (t)error, was actually a war against the public, these institutions follow the same roles. If you are microsoft, you get to pay a big ransom to government, if you are too small to afford it or threaten the big boys that pay ransom, you'll get a call from the MMC.
By the way, you can get raw milk at a Farmers Market
8. planning4acrash said...
It seems that Corporations want a monopoly on providing rubbish food, money, etc. They want a monopoly on the neo-feudalism.
9. planning4acrash said...
Hey Flintster, you should just flow matey, One day you post loads, others you post nothing, its a relay race, and no need to apologize for your own truth. It is a great article.
10. flintster1994 said...
Cheers p4ac. Has any one heard from s2r1 recently? I'm a wee bit concerned that we havn't heard from him in a while. Hopefully it is just his new born taking up his energies! Come on s2r1, your input is highly valued.
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