Review will not stem the tide of mergers

Article Abstract:

The UK government's recent Building Societies Review contains recommendations including measures to encourage building society customers to participate more in the running of the society. It is hoped in this way to increase customer accountability, but some observers are expressing doubts about whether this will really happen. The review also looks at the ways in which societies raise funds, and proposes that they could raise up to half their funds from the money markets.

Reports, Savings and loan associations

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City reels as rescue collapses

Article Abstract:

The image of London as a leading world financial centre will be damaged by the failure of City institutions to put together a rescue scheme for merchant bank Barings. Top Barings executives must now start to assess the bank's outstanding positions in the derivatives markets, and observers expect total losses to be much higher than the current 600 million pounds sterling. The bank's corporate finance operation will now be supervised by administrators Ernst and Young.

Finance, Merchant banks, Barings PLC

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BET turns up heat in bid battle

Article Abstract:

It is rumoured that business services concern BET will undertake an extensive sell-off in order to fight off a hostile 1.8 billion pounds sterling takeover bid from Rentokil. However, BET has denied this. It is instead emphasising how successfully chief executive John Clark has managed the company. Rentokil has denied that it is planning extensive job cuts at BET.

Management, Planning, Services industry, Service industries, Rentokil Initial PLC, BET PLC

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