Private equity job for Davies August 11, 2010 Former government minister and past chairman of Standard Chartered Mervyn Davies has joined private equity firm Corsair Capital, boosting the specialist financial services investor’s senior management team. Lord Davies joins Corsair, which spun out of JPMorgan Chase in 2006, as vice chairman and partner, based in London. He most recently served as minister of state [...]
A new dollar safe haven August 10, 2010 WITH Singapore’s GDP forecast to grow 11 per cent this year according to Standard Chartered, the Singaporean dollar could be the closest to a “safe haven” that traders are likely to find. Although the currency does not move freely, the Monetary Authority of Singapore (MAS) has recently signalled that in order to combat the risks [...]
A new dollar safe haven August 10, 2010 WITH Singapore’s GDP forecast to grow 11 per cent this year according to Standard Chartered, the Singaporean dollar could be the closest to a “safe haven” that traders are likely to find. Although the currency does not move freely, the Monetary Authority of Singapore (MAS) has recently signalled that in order to combat the risks [...]
Banks boost FTSE past the 5,400 mark after quiet day August 9, 2010 FINANCIAL stocks boosted the UK’s leading share index yesterday, rallying from falls in the previous session following weak US jobs data and supported by energy markers which gained in tandem with crude. The FTSE 100 was up 78.13 points, or 1.5 per cent, at 5,410.52, having closed 0.6 per cent lower on Friday, albeit in [...]
FTSE ends lower as Barclays leads banking sector retreat August 5, 2010 BRITAIN’S top shares closed down yesterday, with Barclays leading banking shares lower after it posted first-half numbers and downbeat US weekly jobless claims data later in the day only adding to the downward pressure. The FTSE 100 closed down 20.38 points, or 0.4 per cent, at 5,365.78, having fallen back from a session high of [...]
Daniels: Forcing us to lend won’t work August 4, 2010 Lloyds boss fires warning shot amid fears of compulsory lending targets David Cameron and Mervyn King pledge to ensure banks extend credit Standard Chartered: Shareholders want us to reconsider British domicile LLOYDS boss Eric Daniels fired a warning shot across the government’s bows yesterday, insisting attempts to force banks to lend were doomed to failure. [...]
Daniels: Forcing us to lend won’t work August 4, 2010 Lloyds boss fires warning shot amid fears of compulsory lending targets David Cameron and Mervyn King pledge to ensure banks extend credit Standard Chartered: Shareholders want us to reconsider British domicile LLOYDS boss Eric Daniels fired a warning shot across the government’s bows yesterday, insisting attempts to force banks to lend were doomed to failure. [...]
StanChart slumps despite record half August 4, 2010 STANDARD Chartered saw its share price tumble yesterday despite posting its tenth successive half of record profits. The hike in income failed to match some analyst forecasts and sent the shares down closing 3.1 per cent lower at 1,804p, with analysts pointing to hedge funds shifting to other banks. Standard Chartered reported first half profit [...]
Individual banks buck dreary session as volumes stay thin August 4, 2010 LONDON equities ended flat yesterday as better-than-expected US services and private sector employment figures offset weaker retail shares that fell on concerns of a decline in consumer demand. The choppy session witnessed weaker banks, with the STOXX Europe 600 banking index down 0.4 per cent. Standard Chartered fell 5.2 per cent despite forecast-beating earnings, as [...]
Standard Chartered turns record profit August 4, 2010 STANDARD Chartered beat expectations with record half-year profits of $3.12bn (£1.96bn) as bad debts more than halved and its key Asian markets fared better than those in the west. Standard Chartered said its pre-tax profit for the first six months of the year was up ten per cent from last year, and came in just [...]