HBOS pre-tax profits fall by 72%
UK banking group HBOS has seen profits before tax fall 72% in the first six months of the year, amid a credit crisis and a tougher economic climate. The firm said first-half profits dropped to £848m...
View ArticleHBOS to cut mortgage sector jobs
HBOS is to cut 325 jobs by the end of March next year as it closes one of its specialist mortgage brands. One arm of HBOS, The Mortgage Business (TMB), will close to new custom at 8pm on 22 August and...
View ArticleBradford & Bingley cash call ends
A £400m rights issue at Bradford & Bingley (B&B) has closed, with analysts expecting that some of the deal’s underwriters will end up with shares. Shares in B&B were trading at 55.25p when...
View ArticleQuarter of new B&B shares bought
Bradford & Bingley (B&B) has said that more than a quarter of the shares offered under its £400m rights issue have been bought by shareholders. The bank said that 27.8% of its new shares, which...
View ArticleFraudster raids bank accounts of HBOS chief executive
HBOS has frozen the accounts of Andy Hornby, its chief executive, after a thief stole his identification details and withdrew thousands of pounds in cash. Mr Hornby, who earned £1.7m last year, is said...
View ArticleCredit crunch ‘to last into 2010′
The credit crunch is likely to last well into 2010, the head of the UK’s largest mortgage provider has warned. HBOS chief Andy Hornby told the BBC it would take 18 months before US house prices started...
View ArticleHBOS shares bear brunt of selling
Shares in UK bank HBOS led a decline in banking stocks as turmoil on the financial markets triggered by the collapse of Lehman Brothers continued. Investors are concerned that HBOS is too dependent on...
View ArticleThousands face axe in HBOS merger
The future of thousands of jobs is in the balance in the wake of Lloyds TSB’s £12.2bn takeover of Halifax Bank of Scotland (HBOS). While Lloyds dismissed claims that up to 40,000 jobs faced the axe as...
View ArticleFTSE posts biggest one-day rise
The FTSE 100 share index has closed more than 400 points higher, its biggest one-day rise, after the US confirmed a financial bail-out plan. It ended the day 8.8% higher at 5311.3 points. But after a...
View ArticleBank shares fall despite bail-out
Shares in Royal Bank of Scotland, Lloyds TSB and HBOS have fallen sharply despite the UK government’s £37bn rescue package for the three banks. The plan is meant to secure the banks’ futures, but it...
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