Barclays won’t let pay row deflect it from broader goal April 30, 2012 BARCLAYS Bank’s objective to have an investment banking operation as successful in equities and advisory as Deutsche Bank or any of the other bulge bracket firms is constantly being questioned, both by rivals and by analysts and shareholders. Some say the bank will bottle it as costs get out of control; others say that franchises [...]
DEALMAKER OF THE YEAR August 1, 2012 INVESTMENT bankers have had a difficult year, with London’s IPO market virtually closed, and M&A deals few and far between. Our fourth short-list for the third annual City A.M. awards, though, highlights some superb individual performances in such difficult markets. Jonathan Rowley, for example, was on at least three M&A deals in just one week [...]
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 [...]
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 [...]
What the other papers say this morning September 6, 2012 FINANCIAL TIMES Investment banks eye Europe job cuts Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest [...]
London listing to fuel Sylvan March 11, 2012 A US oil and gas explorer is set to list in London this month with a market value of around £60m. Sylvan Energy, based in Pennsylvania, has hired Northland Capital Partners as adviser and broker as it prepares to raise £5m on the Alternative Investment Market. Sylvan, an onshore exploration and production firm, currently has [...]
Disheartening words from Europe send FTSE 100 deeper into the red July 31, 2012 BRITAIN’S FTSE 100 fell yesterday, extending earlier losses, weighed by worries the European Central Bank may not deliver enough stimulus this week to tackle a global economic slowdown, as comments by German policymakers further dented expectations. At the close, the FTSE 100 was down 45.97 points, or 0.8 per cent, at 5,647.66, also weighed by [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2012 FINANCIAL TIMES BANKING QUINTET UNITE FOR HEDGING TOOL Five banks have joined forces to create a hedging tool designed to improve the health of their balance sheets and protect them against market sell-offs as international regulations force institutions to increase the quality of their assets. Barclays Capital, HSBC, Lloyds, Nomura and UBS are to launch [...]
Capital Shopping Centres to tap bond market for £300m in cash September 20, 2012 CAPITAL Shopping Centres (CSC), the UK’s largest shopping centre owner, has become the latest listed property firm to turn to the market for cash after it launched a £300m bond issue yesterday. The owner of malls including the Trafford Centre in Manchester and Lakeside in Essex, is offering £300m of senior, unsecured convertible bonds due [...]
BP closer to selling out in Russia July 18, 2012 BP’S plan to rid itself of troublesome Russian venture TNK-BP took another twist yesterday, as the oil firm agreed to sit down with its oligarch partners to discuss a sale. Alfa Access-Renova, the vehicle used by the Russian tycoons to control half of TNK-BP, said yesterday it would use its right to first refusal on [...]