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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: HBOS

HBOS stories: 9 news summaries

British MPs Blast Bankers
For 'Astonishing Mess'

Report by finance committee blames HBOS, RBS for meltdown

May 1, 09 7:31 AM CDT
(Newser) - Bankers bear the majority of blame for the global economic crisis for having made "an astonishing mess of the financial system," an investigation by the British parliament's finance committee has concluded. The Treasury Select Committee said in a report that bailed-out banks such as HBOS and Royal Bank... More »

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British Parliament • Royal Bank of Scotland • HBOS • banks • financial crisis • economic crisis • RBS

Bank of China
in Talks to Buy UK's No. 1 Bank

HBOS would be largest overseas acquisition by Chinese institution

Nov 11, 08 7:12 AM CST
(Newser) - The state-owned Bank of China emerged last night as the main player in a new takeover bid for Halifax Bank of Scotland. HBOS, the largest bank in Britain, is currently being taken over by Lloyds, but a former HBOS executive is now putting together a counteroffer. If the deal goes... More »

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Scotland • mergers and acquisitions • merger • HBOS • Lloyds TSB • Bank of China

Lloyds CEO Vows Bonuses, Despite Bailout

CEO promises execs big paydays for
their 'terrific job'

Oct 21, 08 6:51 AM CDT
(Newser) - The CEO of Lloyds had promised staff that they will receive bonuses even though the British banking giant is being bailed out by the government. Employees were told that Lloyds faced "very, very few restrictions" after taking up to $9.4 billion in government money, reports the Guardian.... More »

MORE ABOUT:
United Kingdom • Gordon Brown • bonuses • Britain • bailout • HBOS • Lloyds of London • Lloyds TSB

UK Props Up Major Banks; Fed Offers Cash

Moves to shore up financial system have global markets rising

Oct 13, 08 7:08 AM CDT
(Newser) - Governments across the globe are acting with “an enormous amount of congruence” and speed as they pour billions of dollars into rescue plans hoping to keep a sinking banking system afloat, reports the Wall Street Journal. The British government today provided $60 billion to prop up 3 banks, and... More »

MORE ABOUT:
Europe • Nicolas Sarkozy • Federal Reserve • Gordon Brown • Royal Bank of Scotland • credit crisis • bailout • HBOS • financial crisis • Lloyds TSB

UPDATED

 Dow Down 700, Hits 4-Year Low 

'This is just about fear right now'

Oct 6, 08 1:58 PM CDT
(Newser) - Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200... More »

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stock market • Citigroup • Federal Reserve • Dow Jones • Wachovia • Wells Fargo • global market • European markets • FTSE • bailout • HBOS • financial crisis

 Banks Lead Europe 
 Market Plunge 

EU leaders' disagreements sow fear

Oct 6, 08 4:36 AM CDT
(Newser) - Financial stocks led sharp declines across European markets this morning after the continent's finance ministers failed to agree on a joint effort to stem the crisis. By 10 a.m. in London the FTSE was down 5.2%, with troubled banking giant HBOS plummeting 15%. In Frankfurt the Dax was... More »

MORE ABOUT:
Deutsche Bank • UBS • European markets • FTSE • CAC 40 • DAX • Societe Generale • HBOS • financial crisis

MARKETS

 Global Stocks Surge 
 on Credit-Market Moves 

New Treasury plans also boost market

Sep 19, 08 4:33 AM CDT
(Newser) - World stocks jumped today on government measures to stop the credit-market meltdown and news that the US and the UK were getting tough on short sellers, Bloomberg reports. Deutsche Bank and Credit Suisse climbed 15% after four days of decline in Europe, while Australia’s Macquarie surged 38% after the... More »

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stock market • Credit Suisse • Deutsche Bank • futures market • regulation • short selling • European stocks • HBOS

 UK's Largest Mortgage
Lender in Buyout Talks

HBOS could be sold to Lloyds as early as tomorrow

Sep 17, 08 10:36 AM CDT
(Newser) - Britain's biggest mortgage lender, HBOS, is in advanced discussions with Lloyds about a possible buyout, reports the Financial Times. Stock in the troubled lender has yo-yoed today, falling to less than a pound a share before rocketing up and then plummeting again. While a Lloyds purchase of HBOS could trigger... More »

MORE ABOUT:
bank • buyout • mortgage lender • HBOS • Lloyds of London

Rogue Traders Bag $200M in Credit Hysteria

False emails drive down stock of UK mortgage lender

Mar 20, 08 7:46 AM CDT
(Newser) - The UK's financial regulator is probing whether malicious traders attacked the share price of the country's largest mortgage lender yesterday by spreading rumors it faced a major liquidity crisis. The Telegraph reports that HBOS saw its shares plunge 20% as an email circulated suggesting the firm was facing trouble. The... More »

MORE ABOUT:
London Stock Exchange • credit crisis • Britain • Northern Rock • Bank of England • HBOS • financial crisis

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