Abbey exit leaves UK banks with smaller targets
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HBOS&#39;s decision not to bid for rival Abbey Nationalleaves just smaller targets for large British banks to buy in the UK, bankers and analysts say.
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UK blue-chips closed lower, as the Bank of England (BoE) failed to ease economic concerns by leaving interest rates unchanged at 5.5 percent, while losses were exacerbated by a lower start on Wall Street.
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STUNNED Abbey National staff will be told today that 4,500 jobs could be axed within three years if Spain - s Banco Santander emerges victorious from its bruising 8.2 billion bid battle for the UK mortgage ...
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VIENNA, Va. -- The Treasury Department will work with banking regulators to craft an anti-money-laundering plan that puts less of a burden on small banks.
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Santander Central Hispano SA, the biggest bank in Spain and Latin America, may drop its 8.2 billion ($14.9 billion) offer to buy Abbey National Plc if rival bids lead to a long competition
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LONDON (CBS.MW) -- Banks were one of the better performing sectors on the Continent Wednesday as Spain&#39;s Banco Santander increasingly looked like it will be successful in taking over Britain&#39;s Abbey National.
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Comings and goings in the banking indurstry.
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Blue chips closed lower off highs as Wall Street remained lower with interest rate sensitive sectors such as retailers bearing the brunt of the falls with a disappointing update from DSG International helping to weigh down the FTSE 100.
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The outlook for small UK firms has worsened in recent months, a survey from Bank of Scotland suggests.
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Private investors have pulled billions of pounds out of some of the UK's best-known mutual funds in recent months, in a sign of jitters about the downturn in markets and the economy.
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On Thursday 13th September, after the market had closed, the Bank of England announced to have provided emergency cash to Northern Rock, the fifth largest mortgage lender in the country. The Bank of England played down the intervention, saying that it is not a "bail-out" but rather a loan meant to ease the bank's difficulties in financing its short-term operations in the face of the recent market turmoil. The bank's assets are reportedly solid and there is no risk for shareholders.  In spite of this reassurance, the stock price of this former market darling tumbled 30% on Friday. People were seen queing outside branches while the website went down as the bank clients rushed to withdraw their money using the online banking facility.  It's the first time in my life I've seen that Great Depression staple, the bank run.
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BANKING group Abbey is to boost its Scottish workforce after axing two business banking sites south of the Border.
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LONDON (CBS.MW) -- UK bank Abbey National (UK:ANL) said uncertainty and distraction caused by its takeover process by Spanish bank Banco Santander (STD) affected its third quarter results, but a &quot;speedy conclusion to the transaction has avoided a marked
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The Financial Services Authority has cleared Spanish bank Santander Central Hispano's Â£9bn takeover of Abbey National.
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LOS ANGELES (CBS.MW) - Banco Santander&#39;s controversial pursuit of UK mortgage lender Abbey National shows how difficult it can be for Spanish banks to grow outside their borders.
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Abbey unexpectedly withdraws a top mortgage shortly before new rules come into force which are designed to protect consumers.
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UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically scaling down its exposure to risky investments.