News

City hopes of an early a sell-off of the taxpayer’s stake in Royal Bank of Scotland were dealt a massive blow today as its finance director, Nathan Bostock, was poached by rival Santander UK.

Santander moves to persuade Abbey investors

Santander Central Hispano, Spain's largest bank which has made a bid for Abbey National, yesterday embarked on an intensive roadshow to try to persuade shareholders to back the offer, which values Abbey at more than £8bn.

So can you still bank on shares when trying to save for a pension?

The most important lesson for Abbey shareholders is that anyone holding shares should spread their bets

Finance chief fills the void at British Land

British Land, the property giant, finally announced the appointment of a chief executive yesterday: Stephen Hester, currently the chief operating officer of Abbey National.

Abbey ready to accept £8.6bn bid from Spain's biggest bank

Board backs cash and paper offer - Deal will create eighth-largest global bank

Market Report: Renewed bid talk sparks interest in MFI Furniture

Those who made a killing from buying into Abbey National prior to the bid from Spain's Banco Santander were busy piling into MFI Furniture yesterday. They reckon a private equity bid for the retailer is imminent and hope to cash in on it. Now investors may have a feeling of déjà vu about the return of the MFI rumour but there again talk of an offer for Abbey National from Banco Santander was not new when it did the rounds of the City on Thursday.

Abbey shareholders assured no need to plug life funds further

Abbey National, the UK's sixth largest bank, allayed investors' fears over potential liabilities from its life funds yesterday, announcing that after a series of discussions with the Financial Services Authority, it had been assured it did not need to make any further provisions.

Mirror chief on panel to advise over BBC charter

A panel of the great and the good including Sly Bailey, the chief executive of the group that owns the Daily Mirror, is to advise the Government on the future of the BBC.

Abbey National emerges from wholesale disaster

Abbey National will next month signal it is emerging from the restructuring that has seen it withdraw from its wholesale business and cut back its life assurance operations. The troubled bank will also reveal that the whole process has cost it around £2.5bn.

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