There is nothing worse than self-righteousness in business November 21, 2013 REMEMBER the righteous folk telling us that the problem with banking was all those nasty, profit making global corporations, with their horrid shareholders and especially those awful hedge funds? And that the answer was to encourage small, regional co-operatives, with their senior management drawn from a broader cross-section of the community to boost corporate governance? [...]
There is nothing worse than self-righteousness in business November 18, 2013 REMEMBER the righteous folk telling us that the problem with banking was all those nasty, profit making global corporations, with their horrid shareholders and especially those awful hedge funds? And that the answer was to encourage small, regional co-operatives, with their senior management drawn from a broader cross-section of the community to boost corporate governance? [...]
Lloyds believes shake-up gives it lowest costs September 24, 2013 LLOYDS’ cost of equity should soon be the lowest in the industry, chief executive Antonio Horta Osorio claimed in a speech yesterday. He argued the bank’s cost-cutting and its new focus on the UK mean it is set to become among the most efficient in the sector. It came as the bank announced the sale [...]
Inside Track: Independent analysts don’t always say what you want October 10, 2013 FOR several months now I have been arguing that an understanding of the new issues market would be enhanced by the presence of independent analysts, writing research about companies coming to market ahead of the first day’s trading. Most of the recent London flotations have gone ahead with no research from any bank that is [...]
Lloyds reprivatisation expected to raise over £3.2bn September 16, 2013 A statement from the government agency managing the state's stake in Lloyds has given the green light to the chancellor to begin reprivatising state-backed bank Lloyds. UK Financial Investments (UKFI) has given the nod shortly after the Office for Fair Trading said that TSB should be given more financial help by parent Lloyds. Our banking [...]
Lloyd’s boss in warning over industry boom September 26, 2013 LLOYD’S of London could do more to cut transaction costs for member syndicates, its chairman admitted yesterday, as he warned the insurance industry to prepare itself for an astonishing period of transformation. “We cannot be complacent,” John Nelson told City A.M. “There is work to be done. In other industries they – to be frank – pay more [...]
Travelex owners weigh up plans for market float October 13, 2013 TRAVEL money shop Travelex is considering plans to float on the stock market after a string of favourable floats in London laid the ground for a lucrative sell-off of the business. The shop’s co-owner Apax, which also owns fashion chain New Look, is looking to exit its 50 per cent stake either through a sale [...]
Errors must be punished – but US justice is becoming arbitrary November 19, 2013 IMAGINE the following scenario. It’s 2024 and we are in the middle of a major banking crisis caused by a political implosion in China. Banks are going bust left, right and centre, with the regulators trying to offload failed institutions to stronger ones to contain the chaos. If you were in charge of one of [...]
Sir Bobby Charlton chats to insurers at Lloyd’s of London January 9, 2013 FORMER England and Manchester United footballer Sir Bobby Charlton was spotted in the City this week. The football legend was at the Lloyd’s of London building to announce the launch of a £1m research fund for global landmine charity Find a Better Way. Charlton set up the charity after a visit to Cambodia, with the [...]
Euston property owner clinches £80m financing in spite of HS2 September 1, 2013 SYDNEY & London Properties has sealed an £80m refinancing deal for three office blocks fronting Euston Station, the planned terminus for HS2 and Britain’s sixth busiest railway station. Lloyds Bank has agreed to refinance One Euston Square and two office blocks known as the Podium and the Tower at One Eversholt Street for a further [...]