Entries tagged "Britain"

U.K. downgrade, bank stocks worry markets

Bank deal stocks backtracked as an S&P downgrade on the U.K. weighed down markets. The Dow closed down 129.91, or 1.54%, to 8,292.13, and the Nasdaq fell 32.59, or 1.89%, to 1,695.25.

Britain may bail out Jaguar, Land Rover

The U.K. government is widely reported to be preparing a provisional rescue package for auto manufacturers, but it is very reluctant to commit to any industrywide offer, saying it would set tough conditions for helping individual companies, especially since every big-name manufacturer is now foreign owned....

Rise in U.K. insolvencies rocks confidence

U.K. government figures Friday highlighted the extent to which the credit drought and ensuing financial markets chaos has seeped through into the "real" economy as consumers worry about their pensions, mortgage payments and jobs, and small businesses struggle to secure funding. ...

Esporta auction drags on

Accountant Grant Thornton LLP, the court-appointed administrator for the two bankrupt holding companies behind British rackets, health and country club chain Esporta Group Ltd., has asked for an extra year to sell the business, the Daily Telegraph reported. ...

Ryanair CEO ponders next flight

Maybe it was just a flight of fancy, or a bit of Irish blarney, but Michael O'Leary, the CEO of Irish budget carrier Ryanair Holdings plc, was at his big-thinking best when he told London's Daily Telegraph newspaper he has two main ambitions to fulfill before he bows out of the job. One is to take over London's Stansted Airport from Britain's main airports operator BAA Ltd., the other is to finish the job of buying his Dublin rival, the Irish flag carrier Aer Lingus Group plc, in which he owns a 29.8% stake. In an interview published Friday, he...

Lone Star's other story

Lone Star Funds rode to Merrill Lynch & Co.'s rescue this week, agreeing to pay $6.7 billion for its shaky mortgage securities and garnering attention as one of the few brave buyers in the global credit crunch. In Seoul, meanwhile, Lone Star is mired in a very different story as it soldiers on its three-year attempt to sell Korea Exchange Bank. ...

HBOS spooks investors over housing gloom

Trouble in the housing market isn't just endemic of the U.S. The U.K.'s largest mortgage lender, HBOS plc, Thursday spooked investors ahead of its impending £4 billion ($7.8 billion) rights issue by issuing a gloomy prognosis of the U.K. housing market and saying more of its customers were falling behind with loan repayments. ...

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