One of the largest banks in Japan, Sumitomo Mitsui Financial Group, is considering buying into Barclays Bank as they seek to raise GBP4 billion capital.
Sumitomo Mitsui is considering a 100 billion Yen investment, which would be around GBP500 million. Barclays also have serious interest from some other investors too and if everything goes as planned then the GBP4 billion needed will be achieved with money to spare.
An announcement is expected from Barclays Bank in the next week or so, though existing Barclays investors have to give their final approval before the deals can go ahead. Sumitomo Mitsui are certainly very keen on the deal since they have been finding it difficult to locate good investment opportunities in China.
The bad news of England not qualifying for the Euro 2008 Championships is tempered by the fact that, according to the Abbey National, the average British football fan will have saved over GBP550 by England not being there.
The Abbey National survey found that around 1.8 million consumers were considering buying a new television towatch England play n Euro 2008, with nearly 2.3 million spending nearly GBP150 per person on football kit, flags, hats and so on. Celebrating victories or drowning sorrows was also planned for, with nearly GBP100 per person earmarked for alcohol at home plus a further GBP135 spent at the pub.
A spokesman for Abbey National empathised with the England supporters who would be missing out on a potentially great tournament but felt that the silver lining of saving so much money would make it all bearable. And of course it also means England will not be knocked out on penalties as usual.
Having spoken with a sample of UK consumers Lloyds TSB can see how they are now feeling the pinch as the credit crunch and economic difficulties continue to affect lifestyles.
The view of the future is also seen rather negatively by those surveyed, with an expectation of inflation nudging the 3.8 percent mark in the next year. There were also worries about job security as they see costs spiralling for consumers and businesses. These views are part of the Lloyds TSB Consumer Barometer, where consumer views are reviewed on a monthly basis.
One of the biggest stresses facing the people of the UK are rising prices, with around nine out of ten people seeing prices up from the previous month. Roughly the same number expect to see this trend continue next month as well, further dampening their confidence in the future.
