What the other papers say this morning – 26 June 2014 June 25, 2014 FINANCIAL TIMES Fed warns banks of tougher tests The Federal Reserve has warned banks in the US that tests of their ability to survive a financial crisis will be made tougher – with new risk assessments and regular checks to ensure they fix any weaknesses identified in the process. Fed governor Daniel Tarullo, who is [...]
Downgrade for the Nationwide September 19, 2013 FITCH, the ratings agency, yesterday downgraded the Nationwide building society’s long term default rating to A from A+. The agency attributed the downgrade to the bank’s, “post-impairment earnings and thus capital generation arising from the society’s poorly performing commercial property finance portfolio.” Lloyds Banking Group, the Royal Bank of Scotland and Santander maintained their respective [...]
Indulge in Pippa Middleton’s favourite pastime in Oslo September 26, 2014 What do you think Pippa Middleton’s secret is? Cross-fit? Pilates, maybe? Wrong: cross country skiing. The Duchess of Cambridge’s sporty sister took on the infamous nordic skiing marathon at Vasaloppet in 2012, taking seven hours and thirteen minutes to complete the 90km course. Anyone who does that is going to be in the best shape [...]
City Moves for 14 October 2013 | Who’s switching jobs October 13, 2013 MichelmoresThe law firm has announced the appointment of Roger Fink as a partner in its London office. He qualified with Slaughter and May, and has been a partner at Pinsent Masons for over 20 years. Fink specialises in corporate law. 7 Bedford RowThe common law set has made two appointments. Catherine Rayner and Andrea Chute [...]
Land Securities sells RBS offices on the South Bank for £315m October 10, 2013 LAND SECURITIES has sold Royal Bank of Scotland’s flagship offices on the South Bank to M&G Real Estate in a £315m deal. The FTSE 100 landlord said yesterday it has exchanged contracts to sell Bankside 2&3, which are let to the bank until 2027. The 380,000 square feet offices, which sit next to the Tate [...]
CNBC Comment: Watch out for the IPO boom froth November 25, 2013 CHEER has returned to London’s initial public offering (IPO) market. By the end of October, over $24bn (£14.8bn) had been raised in European IPOs in 2013, more than double the corresponding amount at the same point in 2012. And almost half of 2013’s total was raised on the London Stock Exchange. But investors may want [...]
North east takes top spot in Lloyds Bank’s UK economic growth survey June 9, 2014 THE UK economy is picking up pace around the country, according to firms reporting that output is climbing even after 19 consecutive months of growth. Lloyds Bank’s latest purchasing managers’ index (PMI) for English and Welsh businesses hit 59.8 in May, up from April’s figure and at the highest in five months. Growth is also [...]
There’s much more to the financial services industry than London November 20, 2013 THE FRUITS of Britain’s banking industry stretch well beyond the Square Mile and Canary Wharf. This morning, for example, I will be speaking to members of Manchester’s business community. When it comes to picking impressive banking hubs, you may not think of the northern city that gave us Thomas de Quincey, Emmeline Pankhurst and the [...]
The big independence lie: Why Scotland could keep the pound March 11, 2014 Truth is usually the first casualty of political battles, as it is of war. I believe that Scotland and England are individually stronger for being part of the UK, but 25 years in currency markets tell me that the No campaign’s argument that Scotland cannot keep the pound is false. It would certainly be a [...]
Johnston Press is in talks over debt mountain October 6, 2013 STRUGGLING publisher Johnston Press has entered negotiations with its lenders over its £306.4m debt. Johnston Press has reportedly hired Rothschild, the investment bank, to coordinate discussions with creditors including Barclays and Royal Bank of Scotland. The conversations with lenders could include a refinancing package would see the banks taking warrants in the company, giving them [...]