advisers vodafone and Cable & Wireless worldwide April 23, 2012 UBS Vodafone has put its long-standing team at UBS, headed by global co-head of investment banking Simon Warshaw, on the case to guide it through its acquisition of CWW. Oxford-educated Warshaw joined the Swiss bank in 1986 and has under his belt the former positions of head of EMEA investment banking, joint head of UK [...]
Glencore eyes South African Optimum Coal August 25, 2011 SOUTH AFRICAN miner Optimum Coal has become the latest acquisition target for Glencore as the company looks to benefit from recent economic turmoil that has prompted a sell-off in the markets. Sources close to City A.M said that the commodities trader has set its sights on buying South Africa’s sixth-largest coal producer and is preparing [...]
As crunch time nears there’s still a lot left to be decided February 5, 2012 SO as expected, Xstrata’s shareholders are kicking up a fuss over the premium Glencore is offering to pay for the company, barely a year after blocking a similar deal before Glencore’s record listing last May. With current talks rumoured to be moving towards a premium as low as a single digit figure, investors are unlikely [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 22, 2012 FINANCIAL TIMES Non US banks hope for reprieve on swaps US regulators are exploring ways to give large foreign banks and overseas subsidiaries of US lenders a reprieve from stringent new derivatives rules, potentially alleviating one of the biggest concerns facing global finance institutions. Chesapeake discloses chief’s $661m payments for wells Aubrey McClendon, the chief [...]
The week ahead: Oil, gas, defence and UK interest March 4, 2012 Today Petrofac, a solutions provider to the oil and gas industry, announces full year results today. The first set of results after a restructuring exercise in 2011 could see a hike in profits. Petrofac has recently been awarded an Iraqi oilfield project, building on its presence in the region. Glencore is announcing its full-year numbers [...]
Julius Baer chair severs 120 year old family ties March 19, 2012 WHEN Julius Baer set up a private bank in Switzerland in the 1890s, modern skiing had just emerged and Sir Arthur Conan Doyle would speed down the Alps in a tweed suit. Now, 120 years on, the Baer family has severed its link with the management of the bank. Raymond Baer has quit as chairman [...]
Stocks sink to lowest level of 2012 after liquidity scare weighs on FTSE May 16, 2012 BRITAIN’s benchmark FTSE 100 index fell to its lowest closing level in more than four months yesterday, as new fears about the Greek banking system killed off a brief afternoon rally on the market. The FTSE 100 fell by 32.37 points, or 0.6 per cent, to 5,405.25 points – above a 5,400 point resistance level [...]
Stocks sink to lowest level of 2012 after liquidity scare weighs on FTSE May 16, 2012 BRITAIN’s benchmark FTSE 100 index fell to its lowest closing level in more than four months yesterday, as new fears about the Greek banking system killed off a brief afternoon rally on the market. The FTSE 100 fell by 32.37 points, or 0.6 per cent, to 5,405.25 points – above a 5,400 point resistance level [...]
FTSE subdued as hopes pinned on a Greek deal February 7, 2012 BRITAIN’S blue-chip index closed flat yesterday after staging a late recovery on talk that Greece was making progress towards securing a bailout deal and avert a messy default. The FTSE 100 gauge ended the session 1.94 points lower at 5,890.26 as gains among banks and oil stocks offset heavy losses in the mining sector, which [...]
BofA Merrill Lynch moves to boost weakened broking unit March 14, 2012 SIMON Mackenzie-Smith, who has been drafted in to reinforce Bank of America Merrill Lynch’s battered UK corporate broking unit, has hired Peter Luck from UBS as he strives to retain the bank’s long list of clients following a raft of executive departures. Luck will be a senior player in the team at Merrill Lynch, which [...]