Yes, their customer services are having a hard time keeping up with demand but , it is
one of the five largest banks in the world by profit
in the top 15 safest banks in the world
has more branches and ATMs globally than any other international bank
has more than 80 million customers in over 40 countries
has more than $1.2 trillion in deposits and customer funds under management.
has more than 3 million shareholders.
yields a well covered current dividend 7.5% with an 8% forecast for 2011
... nothing is without risk , but you can clearly hedge that and if you are looking to tuck some away at these levels , there are far worst banks to have in a bank portfolio!
Mon Nov 22, 2010 5:34pm GMT
LONDON (Reuters) - Nationalised lender Anglo Irish Bank cleared the first major hurdle in its closely watched debt restructuring when a group of subordinated creditors agreed to take an 80 percent write-down on the value of their holdings.
Despite resistance from some noteholders, threatening to block any deal causing big losses, the necessary majority of bondholders voted on Monday to accept an exchange offer on 750 million euros ($1.0 billion) of floating rate notes due 2017.
Creditors holding about 690 million euros of those bonds agreed to exchange their debt for new notes and cash, Anglo Irish Bank ANGIB.UL said. Bondholders that reject the offer, to be settled on Wednesday, will get 1 euro cent per 1,000 euros of notes held.
The exchange offer was the first in a series of key creditor votes enabling Anglo Irish Bank to make holders of 1.6 billion euros of subordinated debt bear losses -- a method watched by other troubled institutions such as Irish Nationwide Building Society IRNBS.UL.
The Irish government has said subordinated bondholders of the two lenders would have to foot part of the bill to clean up the banks, although it has so far ruled out penalising senior creditors.
Anglo Irish Bank will hold votes in late December for the exchange of subordinated bonds due 2014 and 2016. A group of investors in the 2016 notes, claiming to hold a blocking stake in the bonds, could yet derail these exchanges.
(Reporting by Sarah White; Editing by Dan Lalor)
Posted in: NTX
like all these things , the end user will decide their fate. I personally consider that oil as a basis for energy , commercial , household , vehicular and aviation , etc , will be starting to be replaced by individual spec hydrogen generators within the next 10 years and that the oil industry module as we currently know it will be in decline and largely cleaned out within 25 years , but hey as NXT were £23 a share 10 years ago , anything can happen , gl ,Mark.
Posted in: NTX
Posted in: AU.
NEW YORK (Reuters) - Autonomy (AUTN.L) has been on a tear with shares rising tenfold over the past five years, but the Britain-based software maker may now be overvalued and set for a pullback, according to a report in this week's Barron's financial newspaper. Autonomy, whose 50 percent growth has been spurred by a steady stream of acquisitions, now trades at about 35 times last year's earnings, according to the report. Analysts put the company's organic growth at closer to 15 percent, Barron's said. Autonomy's return on capital was about 17 percent last year, compared with about 30 percent for rival Oracle Corp (ORCL.O), the report noted. Given its modest returns on invested capital and "granting it some premium for improving returns, a multiple closer to its organic earnings growth could trim shares by roughly 20 percent," the report said.
I am trying to line up a few ducks in different sectors that have seen strong recovery since last years March bottom. The tech sector , imo , could be one of the sectors to see some decent pullback as and when the overall markets decide to take some profit which , imo , will happen within the next 13 weeks, when exactly is anybodies guess , so a liitle advanced preparation and planning will always help so AU. , imo, may fit that glove.
Posted in: BAY
I would have thought that a ride up to c.212 would be in order (FIB 50% retrace principle confirms) and then see how it flows , gl
Posted in: BAY
British Airways has a classic formation of the old head and shoulders building up , 8% rise in double quick time should confirm
Whilst LBG has been sold off of late and presents itself as a possible investment opportunity , I would suggest that trying to identify and understand the reasons why the sellers are offloading such a bargain should be more of an issue to discuss rather than trying to understand whether something that is being sold for ‘more than a current market value’ and HMG’s holding reduced by almost 10% thrown in to boot ... it’s a no brainer as they say.
Why not question whether their recent capital raising exercise is fit for purpose?
Is there an absolute need for banks to be reformed?
Should further regulation begin to be implemented would not current valuations across many divisions within financials , not just banks but associated risk investment generally , be further sold off when the markets realise that any such increased regulation could dramatically effect future earnings within current core business models ?
There is no doubt in my that mind that there is an absolute need for not only banks to be fully reformed but a whole basket of those associated to risk investment, so a bargain , not in my book , but hey , trade it no worries if you are light footed , but to expect this to be an investment opportunity of a lifetime , what seems to good to be true and all that .... forget it , however , this is just my opinion.
Posted in: PUB
'The British public is being ripped off and the British pub trade is being driven to the wall,' he said. 'We are balloting for mass action that will see pubs switching off equipment up and down the country. The price of a pint of beer would then come down in every pub in every town.'
A source close to Punch said there was no legal basis for such action and it could amount to criminal damage.
Posted in: PUB
I share your sentiments ... imo, Punch Taverns have been simply in the property rental market for more than a little while and made their idea of 'Pubs' totally non workable in the majority of cases. Their 'tennants' are without doubt nursing their choice of mixing it up with Punch and , again imo, I continue to state, as in the past, that their business model is well and truely shot. Whilst Punch are getting rid of some leases at 'nil' premium , just look around the corner and you will no doubt find a wetherspoons or a another of similar ilk where all those seeking a litlle atmosphere at a reasonable price with varied choice in comfortable and safe surroundings will be heading.
Posted in: BAY
.. the normal case of shorters closing positions having already gained from the last peak spiral , ie. buying back into the markets to close position and on the back of good news likely adding a few into the buying pot b4 the bulls settle theirs from the lows and so the process continues and all that. I noticed , should the proposed merger go ahead , and lets face as the Spanish still have control of our major airports via BBA so I dare say that this one will go through , that for taxation , the UK drew the short straw , not that BA has contributed much corporation tax of late , but none the less , another loss going forward should the exercise prove a worthy one. I dare say that the Spanish have a few more friends within the EU structure to push this one through. Much more detail of this merger to come out though and I would agree with other posters that likely priced in and a reality check will kick , the bigger they are , the harder they fall and all that , early doors , but I would say brave to stay long and start feeding those shorts back in ... could be the start of a classic swing play in the making on weighted numbers , gl
Posted in: BAY
... I think that BA needs a few more 'stories' such as they are going to merge or buy out airfix to keep things stuck together , bless , so they are laying off 12% of staff , at least this might start to have a downsize effect on their massive pension liabilities , the likely reason that merger talks always likely fail .. anyway shorters on stock now at a reported c.16 percent , must be PB increasing his position .. gl
.... hope all is well , looks like you are building quite a fan club on JJB , a little light reading, gl , mark
Posted in: ATK
- one would assume that some public sector expenditure may well get curbed as the UK and other governments start to get real and projects placed on hold , a worth read re pensions posted , hope you all made good monies over the last few months , I am now looking for bearish trades as the full trading and reality season starts to get under way , gl
Posted in: REX
... interesting days at Rexam , what next , asset disposals?
...I consider that they are well positioned for any upturn but have some underperformance within that could be best capitalised upon via the disposal of such thus allowing a clearer focus on their more profitable business and release capital to further secure position within and continue to reduce core debt .