Citigroup, the huge financial organisation of which Citibank is a part, is being urged to break up by some union representatives.
A union president has written to the Citibank Chairman asking him to give some value back to the shareholders by breaking up the business into smaller parts. He does not want to see the supermarket approach of offering everything continued, preferring a more targeted approach.
Shares in Citigroup have fallen by over 60 percent in the last 12 months and it is felt that were the businesses to be split up so they stand on their own merits share prices in most of them would rise. Citibank is a part of all this and although there is no expectation of a shake up taking place it will still be interesting to see where the share price goes on the back of the discussion.
A new five year contract has been agreed between the Alliance and Leicester and Payzone, a 17,000 site network where consumers can pay water bills.
Estimated figures for the year are that around 6 million transactions will be processed by the Alliance and Leicester on behalf of Payzone, consumers using either a booklet or credit card style payment card. The relationship between the two companies began in 2007 so this five year deal shows the belief they have in each other now.
The commercial side of Alliance and Leicester works with around 1,500 businesses to collect payments from consumers, with most utility companies signed up as well as 8 out of 10 local authorities.
According to a Natwest Bank survey the people of Manchester are the biggest spenders in the UK, with the typical household spending GBP26,000 each year.
This spending figure is a full GBP2,000 more than the capital city, London, which will come as a big surprise to many. What may come as an even bigger surprise is that Manchester is also a great city for saving according to the Natwest Bank survey, with a higher than the national average 53 percent of Manchester residents putting money aside.
A spokesman from the Natwest Bank was pleased to see Manchester setting such a good example with their levels of savings, especially considering their spending habits. They should be seen as a shining example to others said the spokesman.