What the other papers say this morning January 28, 2013 FINANCIAL TIMES RBS tips UK back into bonus debate George Osborne is braced for a new political backlash over bank bonuses, as state-controlled Royal Bank of Scotland prepares to pay as much as £250m to staff at an investment banking division heavily implicated in the Libor-rigging scandal. The chancellor’s discomfort has been amplified by the [...]
Banks steal spotlight despite weakness in FTSE 100 January 7, 2013 The FTSE 100 stalled this morning after closing at its highest level since February on Friday, with miners dragging down the index. In early deals, it was down around 0.25 per cent. A relaxation in bank liquidity rules dominated the headlines this morning, as regulators said last night that banks will have longer to build [...]
FTSE breaches the 6,300 mark but loses steam January 28, 2013 BRITAIN’S top share index breached the 6,300 level for the first time since May 2008 yesterday, driven by strength in banking and energy stocks, although that heady height failed to hold for the close. Global giant HSBC added the most points to the FTSE 100 index, with its 1.0 per cent advance alone, accounting for [...]
Osborne does the wrong thing while Hourican takes the fall February 6, 2013 DEPUTY heads must roll. It’s impossible to decrypt yesterday’s Libor-rigging settlement between Royal Bank of Scotland (RBS) and regulators in the UK and US without being reminded of that immortal phrase. John Hourican, who will step down as the boss of RBS’s investment bank at the end of April, is entitled to feel hard done [...]
City Moves for 6 August 2013 | Who’s switching jobs January 1, 2013 White and Case The law firm has announced the appointment of Ross Allardice as partner in its UK and European private equity team. He has 11 years’ experience working with private equity funds, and was most recently at Kirkland & Ellis. Barclays The bank’s corporate and employer solutions division has recruited Sean McGowan to its [...]
FTSE falls again as weak results dampen mood January 31, 2013 LONDON’S top shares closed lower yesterday as downbeat company earnings and mixed global economic data triggered the sharpest one-day fall on the FTSE 100 since mid-November. Earnings were in focus after updates from British oil heavyweight Royal Dutch Shell and drugmaker AstraZeneca, and Facebook in the United States, disappointed. Shell alone took 16 points off [...]
Savoy close to £290m debt pile refinancing November 25, 2012 THE owners of London’s lavish Savoy Hotel are understood to be closing in on a deal to roll over almost £290m of debt after tapping up two European banks to take on the borrowings. The iconic hotel, which was snapped up in a joint venture by Lloyds Banking Group’s Bank of Scotland unit and Saudi [...]
Recruiter Hays says conditions remain challenging in UK banking and finance August 29, 2013 One of the UK’s largest recruitment companies Hays has reported a three per cent drop in pre-tax profits and a six per cent drop in earnings per share for the year ended June 2013, as strong growth in Europe fails to offset difficult market conditions in Australia. The group added that conditions in UK banking [...]
Day the music died January 14, 2013 HMV has collapsed into administration after last-ditch attempts to save the crisis-hit music retailer came to an abrupt end last night, putting 4,000 jobs at risk and signalling the end of more than 90 years on the British high street. Deloitte, which has been advising HMV’s consortium of lenders led by Lloyds Banking Group and [...]
German Dax rally outpaces FTSE in 2012 January 1, 2013 GERMAN blue chip companies roared ahead of their UK counterparts in 2012 after the Dax market index posted an increase almost five times the rise of the FTSE 100. The German list of premier companies reported its biggest jump in almost a decade in 2012, up 29 per cent, despite continued bartering over the Greek [...]