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OFT to investigate HBOS merger

The Office of Fair Trading is looking for feedback over the merger of HBOS and Lloyds TSB.

It is considering whether the merger will fall under the provisions of the Enterprise Act 2002.

In a statement to the London Stock Exchange, it says: “Should it be found to be a relevant merger situation, the OFT will further consider whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services that warrants reference to the Competition Commission for investigation and report.”

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Thompson to stay on at L&G

Legal & General has confirmed that mortgages director Ben Thompson will no longer be leaving the company.

Barclays to take on Lehman employees

This morning Barclays announced it will take on 10,000 employees from Lehman Brothers.Barclays has completed its acquisition of Lehman Brothers North American investment banking and capital markets operations.Banking and advisory services will likely reopen on Monday under the Barclays Capital name.

Complete offers help to SMS staff

Complete Mortgage and Loan Services has expressed support and sympathy for the directors and staff of neighbouring south coast packaging and distribution firm, Solent Mortgage Services, following its decision to cease trading.

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Health Shield announces strong results

Health Shield, a corporate health cash plan provider, has announced that it has increased gross annual premium income to more than £25m in another year of strong organic growth.

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