FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
Fidelity to vote against Pru chairman May 17, 2011 LEADING City fund manager Fidelity is planning to vote against the re-election of Prudential’s chairman Harvey McGrath in protest at the botched bid for Asian insurer AIA last year, City A.M. learned yesterday. It is among a group of institutional investors expected to oppose the re-election of McGrath, Prudential’s chairman since 2008, at the annual [...]
Fidelity to vote against Pru chairman May 17, 2011 LEADING City fund manager Fidelity is planning to vote against the re-election of Prudential’s chairman Harvey McGrath in protest at the botched bid for Asian insurer AIA last year, City A.M. learned yesterday. It is among a group of institutional investors expected to oppose the re-election of McGrath, Prudential’s chairman since 2008, at the annual [...]
Europe’s debt crisis is getting worse July 15, 2011 EMPIRES seem to be going out of fashion. It is not just News Corp, Rupert Murdoch’s media colossus, which is in trouble; the Eurozone, a very different political conglomerate, is unravelling in front of our eyes. The next step in its demise will come when the results of the stress tests for Europe’s 91 largest [...]
Europe’s debt crisis is getting worse July 14, 2011 EMPIRES seem to be going out of fashion. It is not just News Corp, Rupert Murdoch’s media colossus, which is in trouble; the Eurozone, a very different political conglomerate, is unravelling in front of our eyes. The next step in its demise will come when the results of the stress tests for Europe’s 91 largest [...]
Rothschild and Hayward in £1bn float June 9, 2011 CITY financier Nat Rothschild and former BP chief executive Tony Hayward set out plans yesterday to raise £1bn in a flotation of their investment vehicle Vallares in London. The scion of the banking dynasty and former City heavyweight have joined forces to launch Vallares as a cash shell to acquire and expand high-growth but cash-poor [...]
FSA probe for Pru advisers April 20, 2011 ADVISERS to Prudential’s failed $35bn (£21.5bn) bid for AIA last year are being probed by the City regulator over concerns about the standards of their work on the deal. Prudential was ordered by the Financial Services Authority to start an investigation into whether the three banks advising it on the takeover, which involved plans for [...]
Banks help FTSE to end May on a high but fear still reigns May 31, 2011 BANKS and energy stocks, buoyed by hopes of a second bailout for Greece, helped Britain’s FTSE 100 higher yesterday, but traders remained concerned about buying momentum in the short-term. “Uncertainty for the near term outlook still remains bearish until the markets can pick up positive momentum and clear hurdles to give the bulls a chance [...]
Hammerson chair for Lloyd’s April 14, 2011 John Nelson, chair of FTSE?100 property company Hammerson, is believed to be a front-runner for the role of chairman of Lloyd’s of London, the UK’s biggest insurer. The firm’s current chair, Lord Levene, will step down this year, leaving vacant a post that is seen as an ambassadorial role for the British insurance industry. Nelson [...]