The British Broadcasting Corp reported that banks HBOS and Lloyds TSB are talking about a merger.
HBOS announced last night that it was in advanced talks that could lead to a takeover offer by Lloyds.
“In the light of market speculation, the Board of HBOS PLC confirms that it is in advanced talks with Lloyds TSB Group PLC which may or may not lead to an offer being made for HBOS,” it said in a statement.
HBOS shares have been under heavy pressure on the London Stock Exchange amid fears that it may become a casualty of the credit crunch.
HBOS is the parent company of Bank of Scotland and the Halifax PLC, and is the biggest mortgage lender in the UK.
Earlier yesterday, Britain’s financial watchdog, the Financial Services Authority (FSA), said HBOS was “well capitalized” despite sharp losses to its share price this week.
“Since the beginning of the current extreme difficulties in the financial markets, the Financial Services Authority has worked intensively with all major UK banks to ensure they have credible capital and liquidity plans,” the FSA said in a brief statement. “We are satisfied that HBOS is a well-capitalized bank that continues to fund its business in a satisfactory way.”
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source
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