Ucdl Draghi: I will bail out banks but not states
Tuesday 05 April 2016 4:51 pmPotential steel saviour Liberty House had positive meeting with governmentBy: Jessica MorrisShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleSanjeev Gupta, the businessman who could potentially save Tata Steel s UK assets, said he had positive talks with the government today.The head of metals group and commodities trader, Liberty House,was speaking after a meetingwith business secretary Sajid
brumate ca Javid in London. The UK Government appears highly supportive and is proactively engaged in finding a long-term solution. We have also actively engaged with Welsh Government and again we are encouraged by their approach, Gupta said.Read more: Talks to save Port Talbot steelworks rest on carbon tax deal He added that all parties were very motivated to find
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owala lution, and that the next stage would be for Tata to open a formal sales process before Liberty House could assess its next step.Earlier today, Gupta told the BBC that many of Tata s Britishplants are loss-making, howeverthey could be turned around. The biggest problem we see is the blast furnaces because they are importing all their raw material to smelt steel, he said. We have an alternative suggestion which is to still make hot metal but to make it from local raw material rather than imported raw material, so it s a change of technology rather than ending liquid steel making. He prev Civn DailyFX Tips amp; Picks: Pivot pointing the high and low of the London session
Monday 25 July 2011 2:59 amYorkshire to buy Egg units from CitiBy: John DunneShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleMortgage lender Yorkshire Building Society is to buy the mortgage and savings business of Egg Banking from American bank Citigroup, as Citi continues to sell non-core assets after its bailout during the credit crisis.Yorkshire, owned by its customers, said the Egg businesses it was acquiring comprised of a pound;2.5bn savings book and a 430 million pound mortgage book. It added it would also acquire the Egg brand.The sale of the Egg divisions to Yorkshire Building Society comes just a few months after Citi had sold off Eggrsquo credit card assets to Barclays.Yorkshire Building Society, which has more than pound;30bn worth of assets, said buying the Egg businesses would widen its products and range of services, and improve the companyrsquo fun
stanley austria ding position.Yorkshire did not disclose how much it paid for the Egg businesses. Yor
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polene ca ding Society is also looking at Northern Rock, the fully nationalised bank which the government aims to sell off in due course.Citi acquired Egg from insurer Prudential in 2007 for pound;575m and the American bank had been looking to sell Egg for some time.Share this articleFacebookXLinkedInWhatsAppEmailSimilarly tagged content: SectionsNewsCategoriesBusinessRelated TopicsNULLTrending ArticlesLabour will regret t
