HBOS confirms Lloyds merger talks

The BBC was right, they are in "advanced talks" to see if they can merge the two businesses. Both the Treasury and Financial Services Authority (FSA) say a deal will ease concerns about the health of the UK banking sector. Maybe. But it would be nice to see a few rogues hung out to dry!

I'm beginning to think that come the US Presidential Election, where the Bush propensity for nationalisation will be an issue, and the forthcoming UK General Election, where the Brown propensity for dithering and dodgy financial administration will be an issue, the voters should TAKE CONTROL!!!

What was that about "We the people"?

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HBOS and Lloyds TSB in merger talks!

It is not an unexpected thing. HBOS shares went down yesterday like a lead balloon. Lloyds TSB has entered the fray to seek the possibility of linking up to become the UK's largest retail bank. Good news for depositors if it comes off. Good news for the economy, I suppose. But it is even better news, if that is the right sentiment, for those that many suspect have been the cause of HBOS' sudden share plunge.

I hope the FSA takes a good look at some of the razor-sharp minds behind this. We need to be guarded against those whose greed is of such anti-social proportions that they know no bounds!

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Continental to unite with United?

The ink had only just dried on the deal between Delta Air Lines and Northwest, when it was suggested that it might be a good idea if Continental courted United. These marriages of convenience could well be the only thing that keeps the planes flying, but at what cost?

United's flight attendants made it clear yesterday (Monday) that any deal better be in their best interests. "In the event we determine there exists a threat and not an opportunity for flight attendants, we will launch an aggressive campaign to derail any attempt to move forward with a merger that is harmful," Greg Davidowitch, president of the local chapter of the Association of Flight Attendants, said in a prepared statement. Blimey! I hope he keeps it all in house and doesn't let it spill over into the planes. "It's cold chicken, or nothing, sir!". It could be a very distressing time with grumpy flight attendants.

I've got a vested interest in that Continental fly out of Birmingham to Newark. From a selfish standpoint, this could be a good thing. We might get a United route to the West Coast. According to Roger King, of analysts CreditSights, such a merger "could be pretty quick, because they have already talked to each other".

So Continental United or United Continental? Oh, it's going to be hard choosing who comes first. The Hon. Charles Rolls was able to convince Henry Royce that their cars should be called Rolls Royce, much to Henry's chagrin. Rolls had the money and connections but Royce had the engineering skills. So today, those owning such a car simply refer to the Rolls. However, if you venture into Derby (where they make the aero-engines) and ask the workers where they work, they'll tell you - ROYCE'S!

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