Step-Up Finance
The sun had hardly set on an announcement that RBS, the bank with kinetic pull from politicians, could see itself and Lloyds Banking Group going out to ‘public’ ownership when RBS’s CEO, with a mixed public image, built around a £45Bn public bailout to turn around a failing bank and added contentious bonuses, ( Stephen Hester ) announces his resignation. The ride isn’t over yet. Image...
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Probably, down at No.11 after some gradual stretching exercises and a crack of the knuckles, Mr O’s spring in his step bounce downstairs turned to frantic running around; throwing things out of the cupboard under the stairs, and shouting “who’s moved the red bag again?” ……Because, as we’ve heard from pre-budget snippets, it’s a visit to Grimsville again – and...
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The Answer Is Out There – It’s The Question That Brought You Here: Financing Business Matrix Little wonder the micro and small business owner can feel their brain turning as cavernous as an empty warehouse, when they hear the stable interview question: where do you see yourself in 3-5 years? An unsurprising response because looking at what-if moments is heavy going, with few in...
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Bank of England is to have a new Governor when Sir Mervyn King’s term ends (June 30). Mark Carney, currently Governor of the Bank of Canada, will be taking his post ‘at a crucial time in the Bank of England’s history’, as the first non-British national to lead the Bank. The Autumn Statement may see forecasts of VAT being put up to 25%, further spending cuts, plus tax rises, as part of the...
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Although annual inflation had dropped to its lowest in 3 years at under 3%, Inflation and Productivity research by the Forum of Private Business’s (FPB) showed, from those who took part in the referendum survey, inflation was running at 6%-7%, with the most common increase in costs for SME’s being energy. Also citing fuel and energy costs as a sector challenge, the construction industry saw...
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Shout Out: Listen to Customers As it was almost the end of the day, on the last day of the week, with signs of autumn around the corner and no frantic last minute chasing around before the new week starts, this, as the twilight of the afternoon came together perfectly, was surely a rare moment to be savoured, lulled by the relaxing effect of an appropriate drink to mark the occasion… I...
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‘Business Bank’, for increased lending to businesses has been announced by business secretary Vince Cable, who is ‘working with the Chancellor to develop a state-backed institution that will combine up to a billion pounds of new government capital with a larger private sector contribution’. It will be supported by guarantees and equity for long-term lending to SME’s by buying-up bank loans:...
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To avoid future bailouts at taxpayers’ expense, the splitting-up of major European banks debate continues considering the separation of high-risk investment banking and other bank operations: similar to the Vickers Commission (London) aim, in separating capital market transactions from banking activity (lending and deposits). Since 2008, the familiar phrase ‘too big to fail’ banks, has...
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