British protection of bank deposits increased
London - Britain Friday increased the upper limit of guarantees offered to savers on deposits to 50,000 pounds (90,000 dollars), the Financial Services Authority (FSA) said. The increase from 35,000 pounds is due to come into force next Tuesday as pa...

[ Published on : Fri, 03 Oct 2008 11:34 ]

Bank shares fall in London after failure of US package
London - Bank shares tumbled on the London stock exchange Tuesday following the rejection by the US House of Representatives of the massive US bail-out plan. Londons FTSE 100 Index slumped by 2.3 per cent to 4705.5 points, its lowest level since Dec...

[ Published on : Thu, 02 Oct 2008 13:33 ]

EXTRA: British bank merger talks confirmed
London - Britains biggest mortgage lender Halifax Bank of Scotland (HBOS) confirmed Wednesday that it was in advanced merger talks with leading bank Lloyds TSB. Rumours and speculation about a possible merger between the two banks had been rife ov...

[ Published on : Wed, 17 Sep 2008 04:21 ]

Bank of England makes second intervention to stabilize markets
London - The Bank of England Tuesday pumped an extra 20 billion pounds (36 billion dollars) into money markets, following a similar move by the European Central Bank (ECB). The amount injected by the Bank of England is four times the sum of Mondays ...

[ Published on : Tue, 16 Sep 2008 13:10 ]

EU clears Banco Santander takeover of British bank
Brussels - The European Commission on Tuesday cleared the proposed takeover of Alliance & Leicester (A&L), a British bank, by Spains Banco Santander after concluding that the deal would not harm consumers. The decision in Brussels came just hours be...

[ Published on : Tue, 16 Sep 2008 11:09 ]

Brown calls urgent meeting on bank stabilization
London - British Prime Minister Gordon Brown on Tuesday called a top-level meeting to discuss government proposals to stabilize the banking system after a dramatic slump in bank shares on the London stock market. The meeting came within hours of the ...

[ Published on : Tue, 07 Oct 2008 02:36 ]

 Lloyds Bank in merger talks with top mortgage lender - Summary
London - A potentially giant banking merger loomed in Britain Wednesday as top mortgage lender HBOS confirmed it was in advanced talks with Lloyds TSB, the countrys fourth-biggest bank. Confirmation of the merger talks, coming after days of HBOS s...

[ Published on : Wed, 17 Sep 2008 06:22 ]

Britains Lloyds Bank seals giant merger - Summary
London - Lloyds Bank in Britain has agreed to a merger with the countrys biggest mortgage lender, HBOS, creating a banking giant that will dominate the savings and mortgage markets, the BBC reported late Wednesday. The boards of the two banks agreed...

[ Published on : Thu, 18 Sep 2008 05:30 ]

Reports: British bank in merger talks with major lender
London - Britains Lloyds TSB Bank was Wednesday reported to be in advanced merger talks with HBOS, the countrys biggest mortgage lender and savings bank hard hit by this weeks market turmoil. Neither bank would confirm that talks were taking place...

[ Published on : Wed, 17 Sep 2008 13:20 ]

Britains Lloyds TSB Bank confirms takeover of HBOS - Update
London - Britains Lloyds TSB Bank Thursday confirmed that it has agreed to take over mortgage lender HBOS in a deal worth 12.2 billion pounds (21.3 billion dollars). The deal, which creates biggest largest retail bank, was hammered out during a day ...

[ Published on : Thu, 18 Sep 2008 10:34 ]

Britains Lloyds TSB Bank in giant banking merger - Summary
London - Britains Lloyds TSB Bank agreed Thursday to take over ailing mortgage lender HBOS in a giant merger sparked by the escalating market turmoil following the collapse of US Lehman Brothers this week. The mammoth deal, backed by the government,...

[ Published on : Thu, 18 Sep 2008 03:36 ]

EXTRA: Britains Lloyds Bank seals giant merger
London - Lloyds Bank in Britain has agreed to a merger deal with the countrys biggest mortgage lender, HBOS, creating a banking giant that will dominate the savings and mortgage market, the BBC reported late Wednesday. The boards of the two banks ag...

[ Published on : Thu, 18 Sep 2008 05:30 ]