Live Business Live: Tuesday 27 May 2014

Live text

Reporting:

  • Howard Mustoe 
  • Russell Hotten 
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STANDARD 06:00

Howard Mustoe, Business Reporter

Good morning everyone. According to reports, TSB may announce its stock market flotation today. Stay with us for that and much more.

STANDARD 06:00

Russell Hotten, Business Reporter

Good morning. Stay with us for all the breaking news, and please get in touch via bizlivepage@bbc.co.uk and on Twitter @BBCBusiness.

STANDARD 06:02 TSB

Radio 5 live

There's much speculation Lloyds Banking Group will unveil a plan to float its TSB business. Gemma Godfrey, head of investment strategy at financial consultants Brooks Macdonald, says investors' time has been stretched by the many share offerings of late. "It's a pity" this share sale didn't come a few months ago, she says.

STANDARD 06:08 ROTHSCHILD CONFERENCE

Radio 5 live

Lynn Forester, Lady de Rothschild is on 5 live talking about a conference on capitalism she will be hosting today. "It's not a talking shop," she says. "The people in the room represent $30tn of investable assets." She explains this frightening statistic: various heads of pension schemes will be attending.

STANDARD 06:22 BIRMINGHAM CLUB BID

Carson Yeung

The Hong Kong-based holding company behind Birmingham City football club says it has received an offer for a stake in the club. It comes after owner Carson Yeung was jailed for money laundering. The identity of the bidder and the offer price were not disclosed, but the news sparked a 43% jump in the company's share price on the Hong Kong stock exchange.

STANDARD 06:34 TSB

BBC Radio 4

Gemma Godfrey, investment head at Brooks Macdonald, is now on Today, warning that a possible flotation of TSB comes at a time when the market is crowded and that the appetite from investors may not be high. She said that stock market listings are running at a seven-year high, and several flotations have been priced at the low end or been pulled altogether. The market has "gone from famine to feast and investors are feeling full", she says.

STANDARD 06:49 PFIZER FALL-OUT

BBC Radio 4

Expect to see a lot of activity among small firms in the pharmaceutical sector over the next few years, predicts Steven Godwin, director at healthcare research agency Planning Shop International. He tells Today that a knock-on effect of the failed Pfizer-AstraZeneca bid is likely to be that drugs giants speed up takeovers and royalty deals with small firms to enrich their pipeline of medicines.

STANDARD 06:58 WOMEN ON BOARDS

Radio 5 live

More from Lynn Forester, Lady de Rothschild on 5 live. Companies that don't have a board with at least 20% women should be "named and shamed" she says. She also talks a bit about the high-frequency trading that author Michael Lewis talks about in his new book, Flash Boys. Banks and other financial companies doing this should be there to support the "real economy", she says.

STANDARD 07:08 TSB

tsb

Lloyds Banking Group confirms the anticipated sale of TSB shares. They will also sell shares to retail investors, they say. They will publish a prospectus in mid-June and the offer will take place next month.

STANDARD 07:19 TSB

BBC Radio 4

BBC business editor Kamal Ahmed wonders how popular the flotation will be among retail investors, telling Today that he's not sure just how many people "will be sitting around, saying to themselves, I must go and buy some bank shares". But he said that TSB, with 631 branches, could at last provide some high street competition for the traditional big-name banks.