Baby buggie price inflation sparks crime wave
by Gill Montia
Story link: Baby buggie price inflation sparks crime wave
The vogue for increasingly expensive baby buggies has sparked a new crime wave, according to Halifax Home Insurance. Thefts of baby strollers have almost doubled in the past year, which the lender claims is fuelling a black market worth around £60 million Sales of buggies costing over £500 having increased by 40% over the past […]
Lloyds to shed 200 insurance staff
by David Masters
Story link: Lloyds to shed 200 insurance staff
Lloyds Banking Group has announced plans to axe 200 jobs from its insurance unit. The announcement increases this year’s lay-offs at the firm to 7,500. The latest job cuts are due to a merger of the Lloyds TSB and HBOS general insurance divisions, including sales, marketing, actuarial, and underwriting operations. “We are bringing together these […]
Lloyds Banking Group considers sale of insurance assets
by Gill Montia
Story link: Lloyds Banking Group considers sale of insurance assets
Lloyds Banking Group is reported to be considering the sale of part of its insurance business. The group, which has been created through the merger of Lloyds TSB and HBOS, includes Lloyds TSB’s life insurance arm, Scottish Widows, plus HBOS’s Clerical Medical and Halifax Life. Bearing in mind the group has already announced plans to […]
Lloyds wins HBOS merger tribunal
by David Masters
Story link: Lloyds wins HBOS merger tribunal
Lloyds TSB yesterday won an important victory in its bid to take over Halifax Bank of Scotland (HBOS) The competition appeals tribunal (CAT) ruled in Lloyds’ favour. CAT’s tribunal panel ruled that a complaint brought against the Lloyds’ acquisition by the Merger Action Group (MAG) had ‘no merit’ and ‘no basis’. The MAG – a […]
Base interest rate pared to stimulate growth
by David Masters
Story link: Base interest rate pared to stimulate growth
The Bank of England cut the base interest rate to 2% yesterday, a 57-year low. The move came just one month after the UK’s central bank slashed interest rates from 4.5% to 3%. Investment and currency markets had anticipated the move after Bank of England Governor, Mervyn King, indicated a few days ago that it […]
Lloyds TSB jump to HBOS rescue
by David Masters
Story link: Lloyds TSB jump to HBOS rescue
Lloyds TSB today acquired troubled British rival Halifax Bank of Scotland (HBOS) for £12.2 billion. The all-share takeover is being seen as a bailout rescue for HBOS, Britain’s biggest mortgage provider. HBOS’s share price fell dramatically this week following numerous crises in banks around the world. Before rumours of a takeover spread, HBOS’s share price […]
24% fall in profits for HBOS
by David Masters
Story link: 24% fall in profits for HBOS
Halifax Bank of Scotland (HBOS) has announced a 24% decrease in profits for 2007, down to £232 million. The company said that this reflects a £135 million in loss resulting from the UK floods, and wished the emphasise its growing strength in the household business. Premiums fell by 1% to £1.76 billion whilst the number […]
