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Markets crumble under weight of Lehmans insolvency

US stocks plummeted yesterday as the market suffered through its worst day since 9/11.

Following Lehman Brothers’ filing for bankruptcy and the sale of Merrill Lynch to Bank of America stocks went into free fall with shares in Goldman Sachs falling 12.1% while those at Morgan Stanley dropped 13.5% to $32.19 from $37.23 at close on Friday.

Shares in HBOS closed at 282.00p on Friday and they now sit at 201.25p having dropped as low as 180.00p yesterday morning. Its website reveals share value has dropped by 30% at time of writing.

Royal Bank of Scotland is also seeing share prices fall. At close on Friday shares in RBS were at 239.75p but already this morning they have dropped as low as 194p.

The Standard & Poor’s 500 fell 4.7% – the largest one day drop in seven years – and the FTSE 100 fell 3.9%


Santander rumoured to be bidding for BoI

Santander is refusing to comment on speculation that it is considering making a bid for Bank of Ireland.The Spanish lending giant is widely thought to be on the acquisition trail following the crash in major banking shares seen over recent weeks.Industry sources speaking to Irish radio station NewsTalk say Santander is in a strong position […]

What A Card

While Mole is all for making the best out of a bad situation, it couldn’t help but think greetings card firm has missed the point.

Prestbury’s reputation under fire

A former Prestbury sales director has accused its senior management of undermining the network’s reputation as the company looks to close a transfer agreement with Personal Touch Financial Services.

Could Proptech revolutionise construction?

By Rebecca Murphy, relationship manager, LendInvest  The construction sector offers enormous potential when considering the implication emerging technologies could have on both existing processes and final results. While the completion of an entirely 3D-printed office block may be ‘sexier’ news than a new smart toolbelt that tracks the wearer’s location on site, each area of development […]


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