Best of the Brokers November 14, 2012 VODAFONE Morgan Stanley has an “overweight” rating and a 210p target price on the telecoms giant. While first half figures were disappointing, the broker wants to see more progress in Europe. STANDARD CHARTERED Investec rates the bank “buy” with a target of £18. The broker points out that StanChart is one of just two UK [...]
The Bank of England needs a new method for predicting UK growth November 14, 2012 THIS week’s barrage of economic figures confirmed a gloomy picture for Britain. The Bank of England’s inflation report suggests sluggish growth into next year – just 1 per cent in 2013. Jobs figures show high (though falling) unemployment – still at 7.8 per cent of the workforce. And Tuesday’s rise in inflation confirmed a squeeze [...]
The Bank of England needs a new method for predicting UK growth November 14, 2012 THIS week’s barrage of economic figures confirmed a gloomy picture for Britain. The Bank of England’s inflation report suggests sluggish growth into next year – just 1 per cent in 2013. Jobs figures show high (though falling) unemployment – still at 7.8 per cent of the workforce. And Tuesday’s rise in inflation confirmed a squeeze [...]
Punters back Tucker in race to be governor November 13, 2012 THE BANK of England’s deputy governor Paul Tucker is now widely expected to take the top job next year, after Sir Mervyn King steps down. Chancellor George Osborne will announce the next head of the Bank of England in his Autumn Statement on 5 December. The winning candidate will take on a role far more [...]
Punters back Tucker in race to be governor November 13, 2012 THE BANK of England’s deputy governor Paul Tucker is now widely expected to take the top job next year, after Sir Mervyn King steps down. Chancellor George Osborne will announce the next head of the Bank of England in his Autumn Statement on 5 December. The winning candidate will take on a role far more [...]
Standard Chartered gets close to settling Iran sanction claims October 30, 2012 STANDARD Chartered saw profits rise in the third quarter, according to its update published yesterday, although its progress was slowed by the cost of settling claims made by US regulators that it broke sanctions against Iran. The emerging market specialist recorded “high single-digit” profit growth, knocking its hopes of upping profits by 10 per cent [...]
Advisers JP Morgan Cazenove October 30, 2012 INVESTMENT bank JP Morgan Cazenove is likely to have won a role advising Lonmin on its $800m rights issue. It has worked with the miner previously, on a share subscription with Shanduka last year. The team is likely to be headed up by Michael Wentworth-Stanley, a senior rainmaker at the bank. He has been a [...]
City Moves | Who’s switching jobs October 28, 2012 TheCityUK Gerry Grimstone has succeeded Stuart Popham as chairman of the City representative body. He is chairman of Standard Life and a member of Deloitte’s board. Outgoing chairman Popham is vice chairman of Europe, Middle East and Africa (EMEA) banking at Citigroup. State Street William Slattery has been appointed head of the financial services firm’s [...]
City Moves | Who’s switching jobs October 28, 2012 TheCityUK Gerry Grimstone has succeeded Stuart Popham as chairman of the City representative body. He is chairman of Standard Life and a member of Deloitte’s board. Outgoing chairman Popham is vice chairman of Europe, Middle East and Africa (EMEA) banking at Citigroup. State Street William Slattery has been appointed head of the financial services firm’s [...]
Advisers Nokia’s bond issue October 23, 2012 YACINE AMOR BANK OF AMERICA MERRILL LYNCH YACINE Amor led the team on Nokia’s bond issue at Bank of America Merill Lynch (BofAML), guiding Europe’s second largest convertible bond deal of this year. Amor has 14 years of investment banking experience and is currently head of equity-linked origination for the EMEA region. Prior to joining BofAML [...]