What the other papers say this morning October 3, 2012 FINANCIAL TIMES End to Russian petrodollar surplus Russia’s petrodollar surplus is poised to vanish as early as 2015 as import revenues overtake those from oil exports, according to its central bank. The forecast is the first official acknowledgment that the economic model which has characterised Vladimir Putin’s leadership – a country buttressed by oil money [...]
What the other papers say this morning October 3, 2012 FINANCIAL TIMES End to Russian petrodollar surplus Russia’s petrodollar surplus is poised to vanish as early as 2015 as import revenues overtake those from oil exports, according to its central bank. The forecast is the first official acknowledgment that the economic model which has characterised Vladimir Putin’s leadership – a country buttressed by oil money [...]
Export chief jumps ship to Charity Bank October 3, 2012 GOVERNMENT export finance boss Patrick Crawford yesterday announced he is leaving the department to head up the 10-year old Charity Bank. The former Deutsche Bank financier and Standard Chartered adviser and fund manager spent eight years heading UK Export Finance for the state. As lending has not fully recovered from the financial crisis, Crawford said [...]
Mass upgrade as banks’ cost of equity drops October 1, 2012 BRITISH banks have built up capital levels and cut down leverage more successfully than their European rivals, and should soon reap the benefits in a lower cost of equity, Liberum Capital forecast yesterday. And if the Eurozone stabilises further, risks to the industry outlook will fade and banks will be in an even stronger position, [...]
StanChart stock dips after new sale rumours September 25, 2012 STANDARD Chartered’s share price tumbled yesterday on reports that a major shareholder is looking to sell out of the bank. The stock initially fell more than three per cent on speculation in the Financial Times that Singapore state investor Temasek may sell its 18 per cent stake in Standard Chartered, worth roughly £6.4bn. The price [...]
StanChart stock dips after new sale rumours September 25, 2012 STANDARD Chartered’s share price tumbled yesterday on reports that a major shareholder is looking to sell out of the bank. The stock initially fell more than three per cent on speculation in the Financial Times that Singapore state investor Temasek may sell its 18 per cent stake in Standard Chartered, worth roughly £6.4bn. The price [...]
UK banks are facing a battle with diminishing returns September 25, 2012 AS LONDON’S top bankers meet for their annual Merrill Lynch conference, upbeat public pronouncements can’t conceal the cloud hanging over the sector’s future. The news that Singapore investment fund Temasek is mulling offloading its £6bn stake in Standard Chartered is a typically gloomy indicator. Standard Chartered, after all, thanks to its exposure to Asian growth, [...]
UK banks are facing a battle with diminishing returns September 25, 2012 AS LONDON’S top bankers meet for their annual Merrill Lynch conference, upbeat public pronouncements can’t conceal the cloud hanging over the sector’s future. The news that Singapore investment fund Temasek is mulling offloading its £6bn stake in Standard Chartered is a typically gloomy indicator. Standard Chartered, after all, thanks to its exposure to Asian growth, [...]
Strong US data helps lift the FTSE as miners and banks take a dive September 25, 2012 BRITAIN’S top share index rose yesterday, with energy stocks in the lead, improving on small gains earlier in the day after US data allayed some concerns over a stalling of the global economic recovery. At the close, the FTSE 100 index was up 20.87 points or 0.4 per cent at 5,859.71 points, near the session [...]
FTSE 100 steady on worries over global growth September 25, 2012 The FTSE 100 was modestly up in early deals this morning, as a rally in natural resources and property stocks pulled the index higher, although worries over global growth and Spain’s economy continued to dampen stocks. Spain is due to present its draft budget plan for next year later on this week. Property group Morgan [...]