The Times says billions of pounds' worth of shares are expected to flood the Stock Exchange in ...
The Times says billions of pounds' worth of shares are expected to flood the Stock Exchange in the coming months as distressed companies turn to equity investors to repair their balance sheets and pay off rapacious bondholders and banks. Equity strategists and fund managers said many companies with too much debt on their balance sheets will have no option but to conduct deeply discounted rights issues.
The Times also writes that the Conservative Party is to challenge the Government today about an apparent £100 billion black hole in the UK's occupational pension funds. David Willetts, the Shadow Work and Pensions Secretary, spotted the loss in a document produced by the Office of National Statistics (ONS).
The Telegraph writes that Lattice, the gas pipeline group, will unveil details of a redundancy programme at its Transco business this week as it strives to achieve targets assigned by regulator Ofgem. A spokesman confirmed that Transco "will regrettably be announcing redundancies" but refused to comment on how many of the 14,000 jobs would be lost.
Equitable Life is due to ask the High Court to approve a compromise deal designed to cap its crippling guaranteed annuity rate (GAR) liabilities today reports the Telegraph. The hearing is expected to take around five days and will include submissions from people opposed to the compromise scheme.
The Telegraph also writes that the danger of the UK falling into recession is fading as companies start to regain confidence, a new survey shows. The BDO business trends report suggests that the economy is set to improve slowly but steadily throughout 2002 as orders and output increase.
The Times says the Bank of England is expected to keep interest rates on hold this week amid fears that a further cut would risk an unsustainable consumer boom, tempting households to add to debts that are already rising at a record rate.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week
'Unsung' part of FSCS work