This morning on FT Alphaville,
- Imagine our surprise. The proposals thus far received for Northern Rock value the equity at “materially below” where the shares ended last week.
- And there’s finally a detail or two on the BoE’s bankrolling of the former bank.
- The demolition of the property sector continues, after what looked like a brief respite on Monday morning.
- And the banks are right there with them. But Alliance & Leicester came back from their early pasting after they denied that they were the subject of rumours that a UK mortgage bank was desperately seeking 6-month funding and was willing to pay to get it. So who else might it be?
- Not everyone is avoiding real estate though. There’s talk that Intercontinental has a new, property-loving shareholder.
- At the risk of rushing things, SABMiller has agreed to add Dutch brewer Grolsch to its stable and plans to take the slow-brewed beer global.
This morning on FT.com,
- The slime spreads. Now Swiss Re is in the mire, with a SFr1.2bn ($733m) writedown related to credit default swaps written by its Credit Solutions unit.
- Oil’s on the up again. The black stuff jumped back above $95 a barrel after Opec said it would study further the effect of the falling US dollar on its economies following calls for it to price oil in currencies other than the greenback.
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