SAV Credit and Blackstone team prepare to up offer for Egg bank November 2, 2010 SAV Credit, the owner of the Marbles and Aqua credit card businesses, has teamed up with private equity group Blackstone to prepare an offer for internet bank Egg. SAV and Blackstone are expected to make a joint offer to current owner Citigroup later this month, according to a report by Sky News. Citi’s auction to [...]
In search of the modern El Dorado October 31, 2010 THE world has been watching South America. Yesterday saw the Brazilian presidential election, while Argentina has been surprised by the death of Néstor Kirchner – an event that, slightly worryingly, sparked a huge rally in the Argentinean stock market. More prominent still were the Chilean miners whose plight last month captivated millions. Given all that, [...]
In search of the modern El Dorado October 31, 2010 THE world has been watching South America. Yesterday saw the Brazilian presidential election, while Argentina has been surprised by the death of Néstor Kirchner – an event that, slightly worryingly, sparked a huge rally in the Argentinean stock market. More prominent still were the Chilean miners whose plight last month captivated millions. Given all that, [...]
Barclays weighs up costs of quitting UK October 27, 2010 SENIOR executives at Barclays Bank are weighing up the costs of moving the group’s headquarters from London to overseas, most probably New York. The bank’s executives, including at board level, have spent a great deal of time poring over the issue over the past few weeks. While no final decision has been taken, they have [...]
Few cheers for physical base metal products from analysts October 27, 2010 THIS year’s annual London Metal Exchange (LME) week was abuzz with the news that physical exchange-traded commodities (ETC) for base metals are going to see the light of day. After plenty of speculation in both the press and the markets, ETF Securities confirmed what many had assumed and announced that it was preparing to launch [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 25, 2010 FIANACIAL TIMES DEBT MARKETS TAKE UNUSUAL TURN The abnormal state of credit markets came into focus yesterday as the US Treasury sold bonds with negative interest rates for the first time and Goldman Sachs prepared to sell its first 50-year debt deal. Both sales highlighted the difficult choices facing investors at a time when interest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 25, 2010 FIANACIAL TIMES DEBT MARKETS TAKE UNUSUAL TURN The abnormal state of credit markets came into focus yesterday as the US Treasury sold bonds with negative interest rates for the first time and Goldman Sachs prepared to sell its first 50-year debt deal. Both sales highlighted the difficult choices facing investors at a time when interest [...]
Diamond: Let bad banks go bankrupt… October 25, 2010 BARCLAYS president Bob Diamond yesterday said no bank should ever again have to fall back on the taxpayer for a bailout, as he argued that the future stability of the banking system lies in the successful implementation of “living wills”. “Strong banks want strong regulation,” Diamond said, referring to the raft of regulatory changes currently [...]
Diamond: Let bad banks go bankrupt… October 25, 2010 BARCLAYS president Bob Diamond yesterday said no bank should ever again have to fall back on the taxpayer for a bailout, as he argued that the future stability of the banking system lies in the successful implementation of “living wills”. “Strong banks want strong regulation,” Diamond said, referring to the raft of regulatory changes currently [...]
Diamond: Let bad banks go bankrupt… October 25, 2010 BARCLAYS president Bob Diamond yesterday said no bank should ever again have to fall back on the taxpayer for a bailout, as he argued that the future stability of the banking system lies in the successful implementation of “living wills”. “Strong banks want strong regulation,” Diamond said, referring to the raft of regulatory changes currently [...]