On FT Alphaville this morning,
- You say Crock; we say Wreck. There’s only one story around this morning.
- Following last night’s emergency meeting on a bail-out of the Northern Rock, the north-east based lender came clean on Friday morning,
- The papers’ pundits think chief executive Adam Applegarth is in a tight spot,
- The analysts scrambled to make sense of it all and slash their targets….except one,
- And the shares took a pasting,
- But some think the Bank should have let the Wreck go under.
- Read what the Markets Live duo made of it all.
- The ever-prescient Chris Wood saw a major problem brewing in the UK – and worries that our little economy is too focused to take the hit
- And although Barclay’s shareholders showed overwhelming support for the ABN takeover, it was all lukewarm from CEO John Varley.
On FT.com this morning,
- Cadbury Schweppes have rejected a second private equity bid from KKR, Blackstone and Lion Capital. It’s the return of private equity, says Lombard.
- The FTSE slides on bad news from the mortgage banks.
- And high oil prices are going to deal some serious damage to the US economy, says John Authers in the short view.
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