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Saturday, October 11, 2008
UK Banks Reportedly May Unveil Capital Raising Plans Monday
Alistair Barr
MarketWatch Pulse
SAN FRANCISCO -- Some of the largest U.K. banks hope to unveil plans to raise billions of pounds in new capital on Monday as part of government efforts to stabilize the country's financial system, the Wall Street Journal reported on Saturday. Royal Bank of Scotland Group , Barclays PLC , HBOS PLC , and Lloyds TSB Group PLC began working faster on these plans after Britain's stock market plunged further on Friday. At least some of those banks have set Monday for announcing how the capital will be raised, although that deadline could change, the newspaper said. The U.K. government is requiring the banks to raise a total of roughly 25 billion pounds in new capital. The companies can get the money from the government or from private investors, such as shareholders or sovereign wealth funds, the WSJ explained.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
