Lloyds Banking Group, produced by the merger of Lloyds TSB and the Halifax banking group HBOS, is the biggest ever UK bank. The combined group, with around 145,000 staff and 3,000 branches, will control around a third of UK's mortgages and a quarter of all savings. The government owns 43.4% of Lloyds Banking Group, 36% are owned by Lloyds TSB shareholders and 20% by HBOS shareholders.
More than 120,000 investors have registered for the government’s £2bn sell-off of shares in Lloyds Banking Group with Hargreaves Lansdown, the investment firm said. The figures do not include those who have signed up to the government’s official website which on Monday alone – the day the share sale was announced – reportedly received interest from 62,000 people. http://www.theguardian.com/business/2015/oct/08/lloyds-share-sale-120000-investors-sign-up
Interest rate rise?
Central banks in the UK and the US "need to be courageous" and raise interest rates, a former Bank of England policymaker has said. http://www.bbc.co.uk/news/business-34483861
Not all doom & gloom
Lagarde: China's economy is not all 'doom and gloom' "I would say that it's a recovery that is decelerating a bit," she told the BBC, but said it was expected to gain momentum next year. http://www.bbc.co.uk/news/business-34483326
Initially the rate of disposal was 1% per week and as the SP rose they were achieving an average SP of over 80p . They're allowed to sell no more than 25% of daily volumes to minimise the risk of dropping the price so unless they've been selling at much lower volumes , which they may have been doing as the market dropped the price , they're a bit limited as to how much ramping up they can do .
RE: HMG Holding below 11%!
It was £4bn worth (aprox 7%) Wolfman, but that has now been scaled back to 'a min of' £2bn worth (aprox 3%), if the spring timetable stays the same MS have plenty of time to hit the target.
RE: HMG Holding below 11%!
I think HMG has committed to making 4% available to Joe Public. On the basis of 1% every 2 weeks (which by and large it has been), then MS need another 14 weeks. Suspect they will ramp up in order to meet the 31 Dec mandate.
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