November 20th, 2008 at 02:20am
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financevids wrote an interesting post today on
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Lloyds TSB investors have overwhelmingly backed the bank’s controversial rescue of HBOS and its plans to raise £5.5bn of capital despite some shareholders voicing concerns.
Several hundred investors gathered in Glasgow to hear Sir Victor Blank, Lloyds chairman, say the “landmark” deal would transform his bank, deliver £1.5bn of cost savings and create value for HBOS and Lloyds shareholders.
“For us, the opportunity to put Lloyds and HBOS together has been a long-standing ambition,” he said.
The vote to buy HBOS, backed by 96 per cent of investors, clears a major hurdle for the all-share takeover. Investors also backed a plan for Lloyds to raise capital through a government-backed placing. HBOS holds a vote for its investors on December 12
via FT.com / Companies / Financials - Lloyds TSB investors back HBOS rescue
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November 20th, 2008 at 02:20am
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Free Unique Content.com wrote an interesting post today on
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Step One: Set Goals. Your financial goals may be as short term as saving to buy a car or as long term as saving for retirement. The key is to be realistic and specific–and to start as soon as possible. Step Two: Organize Your Finances. You’re a woman with goals. Now determine where your finances stand. Step Three: Allocate Your Resources. Once you know how much money you are able to invest, determine the structure of your portfolio—that is, how much should be invested in stocks, how much in b
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November 20th, 2008 at 02:20am
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Free Unique Content.com wrote an interesting post today on
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It appears that the Chinese car makers SAIC and Dongfeng have plans to acquire the Big 3: “A take-over of a large overseas auto maker would fit perfectly into China’s plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, ….”
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November 20th, 2008 at 02:19am
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Free Unique Content.com wrote an interesting post today on
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What if GM goes broke? Neither a bailout nor bankruptcy may save General Motors or the other Detroit automakers. So imagine the cost of losing GM, starting with millions of jobs. The Optimality of Uniform Pricing in IPOs: An Optimal Auction Approach This paper uses an optimal auction approach to investigate the conditions under which uniform pricing in IPOs is optimal. We show that the optimality of a uniform price in IPOs depends crucially on whether the (optimal) allocation rule is restri
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November 20th, 2008 at 02:18am
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zyakaira wrote an interesting post today on
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HSBC plans to cut 500 jobs overall in Asia, two months after the banking giant shed 100 staff in the region as part of a shake-up of its global banking and markets division.
The latest job losses, centred on Hong Kong, will span global banking and markets, commercial banking and personal banking, and underscore HSBC’s belief that the financial market turmoil has spread to businesses and consumers in the real economy.
In an e-mail to HSBC’s Hong Kong staff, Peter Wong, an executive director, blamed the move on “deteriorating economic conditions” and the bank’s “cautious outlook” for 2009.
via FT.com / Companies / Banks - HSBC in fresh job cuts in Hong Kong
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November 20th, 2008 at 02:16am
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zyakaira wrote an interesting post today on
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November 20th, 2008 at 02:16am
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Free Unique Content.com wrote an interesting post today on
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… this Paper from the International Finance discussion group (published in June 2002) is an absolute read for those that care about these things. Basically it gives some lessons learned from how Japan handled their 1989 market crash. But the information in the paper is very much applicable to the US markets today. A Double Blind post, 2008. | Permalink | No comment | Filed under category Finance.
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November 20th, 2008 at 02:15am
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Double Blind wrote an interesting post today on
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Time may be running out for investors who use Low-Doc loans. From 1st December, many investors wanting to refinance an investment property with a low-doc loan will face a major challenge. Australia’s leading mortgage insurer, Genworth Financial, has announced that from 1st December, it will no longer insure low doc investment loans which are being refinanced. And, the banks don’t usually like to lend more than 60% of the property value without mortgage insurance. That means that the banks
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November 20th, 2008 at 02:12am
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Double Blind wrote an interesting post today on
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MANILA, Philippines — Senate President Juan Ponce Enrile said he would stay on as chairman of the finance committee until the proposed P1.4 trillion budget for 2009 is approved in the Senate. Enrile said he would also head the committee on accounts, contrary to Senator Panfilo “Ping” Lacson’s claim that he would get the committee chairmanship. “I understand that this is the prerogative of the Senate President I will hold it and I will be responsible for the finances of the Senate,” the newly-
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November 20th, 2008 at 02:12am
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Double Blind wrote an interesting post today on
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Prospect magazine hosts a debate on whether or not behavioural economics is as important as many of its advocates laud. As the BPS Research Digest says, In this […] debate, Pete Lunn (author of Basic Instincts) argues that behavioural economics will “deliver a revolutionary new way of understanding the world.” In response Tim Harford (author of The Logic of Life) plays down the impact of behavioural economics, arguing that the field’s lab studies rarely translate well into the messiness of the
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