What the other papers say this morning February 26, 2013 FINANCIAL TIMES Esure warned against overpricing Top fund managers have warned Esure against overpricing its initial public offering as the motor and home insurer prepares to launch London’s latest float as early as today. Bankers were yesterday finalising the details of the planned float as analysts said that the most recent publicly available accounts indicated [...]
FTSE rally tops fresh peaks yet UK banks slip January 29, 2013 BRITAIN’S top share index hit new four and a half year peaks yesterday, with a strong rally in miners outweighing concerns about continuing problems in the banking sector. Data from the US offered fresh proof of improvement in the world’s biggest economy, with a strong pick-up in housing prices following above-forecast durable goods data the [...]
Ex-HBOS staff charged over £35m of loans January 8, 2013 FORMER senior bankers at Halifax Bank of Scotland (HBOS) were yesterday charged with corruption over £35m of loans made while they were at the bank. Lynden Scourfield, 50, and Mark Dobson, 52 are among eight people accused of making the fraudulent business loans through a turnaround consultancy in exchange for “high-value gifts” between 2003 and [...]
Canopius finally gets the nod on a £164m offer for Omega April 25, 2012 LLOYDS of London insurer Canopius said it had agreed to buy rival Lloyd’s insurer Omega after raising its offer to £164m in a recommended cash deal, thereby putting to an end a near 16 month process. Canopius said it will pay 67p per share, increasing an offer it made earlier in April by 2p per [...]
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 [...]
Bank ringfences will solve little February 11, 2013 Chief Market Strategist, Cantor Index I AM enormously proud to have survived 50 years in the City of London. Over the last week, however, there has been little news involving banks to be remotely glad about. We heard some “mea-culpa” testimony to the Parliamentary Commission on Banking Standards from Lloyds Banking Group’s chief executive Antonio [...]
City Moves for 17 January 2013 | Who’s switching jobs January 16, 2013 Lloyds Bank The bank’s commercial banking division has appointed Karin Cook chief operating officer. She joins from HSBC, where she was most recently global chief operating officer for its private bank. Cook has over 20 years’ experience in the industry, and has also held roles at Goldman Sachs and Morgan Stanley. Saffery Champness The accountancy [...]
Takeover hopes fade for Omega March 27, 2012 Omega, the Lloyd’s of London insurer that rejected three takeover bids last year, yesterday disappointed the market by providing scant details of a possible takeover offer. The firm said yesterday it “confirms that it continues to review possible options to increase value for its shareholders, which include an offer for the company”. Its shares, which [...]
Takeover hopes fade for Omega March 27, 2012 Omega, the Lloyd’s of London insurer that rejected three takeover bids last year, yesterday disappointed the market by providing scant details of a possible takeover offer. The firm said yesterday it “confirms that it continues to review possible options to increase value for its shareholders, which include an offer for the company”. Its shares, which [...]
Lloyds boss in line for bonus of up to £4.4m January 13, 2013 LLOYDS’ chief executive is in line for a bonus of up to £4.4m for 2012, it emerged over the weekend, after the bank’s share price soared and complaints dropped last year. Antonio Horta Osorio was brought in to clean up the bank, and it is thought that solid progress towards that goal, as well as [...]