Heritage Financial is the holding company of HeritageBank of the South the Bank. The main business of the Bank consists of accepting retail and commercial...
LONDON (Reuters UK) - HBOS HBOS could cut as many as 650 jobs as it sets up a single business to serve small and medium-sized enterprises, stepping up efforts to compete in a sector dominated by four larger domestic rivals. HBOS plans to merge its business...
LONDON (Reuters UK) - As few as 10 percent of HBOS HBOS shareholders have signed up to a 4 billion pound fundraising by the British bank, newspapers said on Sunday, without citing sources. The Sunday Times and Sunday Telegraph said the low take up, due...
LONDON (Reuters UK) - Britain's biggest mortgage lender HBOS HBOS has won shareholder support for its 4 billion pound rights issue. Shareholders accounting for over 98 percent of HBOS shares backed each of three separate proposals relating to the rights issue, designed to shore up...
By Clara Ferreira-Marques SHEFFIELD (Reuters UK) - Bradford & Bingley BB won investor backing for its critical 400 million pound rights issue rescue on Thursday, but not before executives were quizzed on the troubled fundraising and the bank's future. Shareholders had been expected to vote in...
LONDON (Reuters UK) - Britain should revive the market for new residential mortgage-backed securities RMBS and covered bonds by allowing investors to swap the securities for liquidity backed by the Bank of England, mortgage lenders said on Tuesday. The Council of Mortgage Lenders CML, which...
LONDON (Reuters UK) - City Lofts has been forced to place 250 unsold apartments into receivership in light of Britain's housing slump, a spokesman for the privately owned urban apartment developer said on Tuesday. The spokesman declined to specify how much of the overall business...
By Dan Lalor LONDON (Reuters UK) - The slump in the housing market, with prices falling at a faster pace than during the 1990s downturn, could cost up to 100,000 jobs, according to an industry body. "The housebuilding industry has a huge multiplier effect on employment...
By Dan Lalor LONDON (Reuters UK) - Barratt Developments BDEV will cut nearly a fifth of its workforce to cope with the housing market downturn, joining other builders taking similar measures, and will not pay a final dividend for 2007-08. Barratt also said with its house...
LONDON (Reuters UK) - U.S. hedge fund Harbinger Capital said it held a 3.3 percent short position, worth about 345 million pounds, in bank HBOS HBOS, under new disclosure rules for companies during rights issues. Two other investors -- Lansdowne Partners and Meditor Capital Management...
By Clara Ferreira-Marques LONDON (Reuters UK) - Shares in troubled bank Bradford & Bingley BB accelerated their losses on Tuesday, hitting a fresh low amid concerns over its outlook even after an enlarged 400 million pound cash call. At 9:12 a.m., stock in the largest buy-to-let...
By Clara Ferreira-Marques LONDON (Reuters) - Shares in troubled British bank Bradford & Bingley Plc BB accelerated their losses on Tuesday, hitting a fresh low amid concerns over its outlook even after an enlarged 400 million pound ($789 million) cash call. At 0812...
By Steve Slater LONDON (Reuters) - Bradford & Bingley BB plans to increase its rights issue to 400 million pounds ($794 million) after U.S. private equity firm TPG Capital pulled out of a plan to buy a stake, sending its shares lower. TPG...
By Steve Slater LONDON (Reuters UK) - Entrepreneur Clive Cowdery scrapped his plan to inject 400 million pounds into Bradford & Bingley BB on Friday, saying the lender's refusal to open its books made a deal impossible. B&B's shares tumbled 21 percent to close at 63.25...
LONDON (Reuters UK) - The FTSE 100 index is seen opening down 17 to 23 points on Friday, financial bookmakers said, having ended the previous session down 147.9 points, or 2.6 percent, at 5,518.2. European shares are seen extending their previous session's losses after...
By Daisy Ku LONDON (Reuters UK) - Global equity capital markets activity rebounded in the second quarter as financial institutions scrambled to raise capital, but the bleak economic outlook means bankers are cautious for the second half, according to Thomson Reuters data release on Friday....
By Daisy Ku LONDON (Reuters) - Global equity capital markets activity rebounded in the second quarter as financial institutions scrambled to raise capital, but the bleak economic outlook means bankers are cautious for the second half, according to Thomson Reuters data...
By Dan Lalor and Steve Slater LONDON (Reuters) - British bank Barclays BARC raised 4.5 billion pounds ($8.9 billion) from investors including Qatar and Japan's Sumitomo Mitsui and aims to use half the cash to rebuild capital and half to pursue growth....
Jessica Johnson submits: It would be true to say that people did increase their short positions in HBOS last Wednesday (11th June) when the bank's share price slipped below the Right's Issue price of 275p. These shorts are covered by new borrows at the close of business (T...
The Halifax/Bank of Scotland merger meant that the IT focuses at HBOS for 2002 and early 2003 were predominately on integration work and realizing merger synergies. The challenges were to generate ideas for ways technology innovation could benefit the overall business, create a community for "innovation" within HBOS, and to...
Halifax, the UK's biggest mortgage bank, decided to proactively build the new regulatory requirements into the early stages of its risk management program, recognizing that these would evolve and additional requirements would follow over the coming years. As a part of this strategy, Halifax chose to partner with Algorithmics to...
