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HBOS and Lloyds rumoured to be in merger talks

The BBC has reported that HBOS and Lloyds TSB are in merger talks.

Shares in HBOS have dropped by as much as 200p since markets closed on Friday but have rallied this morning rising to 190p at time of writing.

Shares in Lloyds have fluctuated wildly this morning rising as high as 297p before falling to 261p. Share prices now sit at 291p.

A merger would create a British banking giant with over 139,000 potential employees and nearly 30m existing customers. It would have a market value of some £30bn.

Neither Lloyds or HBOS are commenting on the situation.

The FSA says that since the beginning of the current extreme difficulties in the financial markets, it has worked intensively with all major UK banks to ensure they have credible capital and liquidity plans.

A statement adds: “We are satisfied that HBOS is a well- capitalised bank that continues to fund its business in a satisfactory way.”


Moodys downgrades B&B

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A fine time for us to go our own way

When faced with a problem our government has never been dynamic or renowned as a provider of innovative solutions. And while the grey men at Westminster dither over how best to solve the liquidity crisis strangling the market, the rest of us are wondering whether what they come up with will be too little, too late.

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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