It swaps equity for what they owe it....
No chance my missus can pick up a cheap Karen Millen frock for once I suppose?
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coooome on pound ...u can do worse than that ...I want you back down to Euro parity my little precious.Leave a comment:
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Forgot the pound....
down nearly 2% against the Euro, which is itself in deep sh*t.Leave a comment:
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Late afternoon doom
http://news.bbc.co.uk/1/hi/world/7919647.stm
Mosaic, which owns some of the most famous brands on the UK High Street, has gone into administration, with debts of around £400m.
But most of group, including Oasis, Karen Millen, Warehouse and Coast have been immediately sold to Mosaic's main creditor - Icelandic bank Kaupthing.
A new firm owned by Kaupthing and former Mosaic bosses has been formed.
But Principles and The Shoe Studio - two of Mosaic's other brands remain in administration, risking 4,000 jobs.
http://news.bbc.co.uk/1/hi/business/7918168.stm
Stock markets have fallen worldwide, rattled by fears that turmoil in the financial sector is far from over.
On Wall Street, the US Dow Jones index fell below 7,000 points for the first time since October 1997.
In the UK, the FTSE 100 index briefly hit a six-year low. Markets elsewhere in Europe also fell sharply.
Confidence was hit by a fresh $30bn bail-out of US insurance giant AIG following a record $62bn loss, and by HSBC's plans to raise £12.5bn.
FTSE down 5.33% in a day.
Can't be long now before the UK does an Iceland.
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