Investors may flip homes to avoid taxes May 16, 2010 FLIPPING is set to become the norm amongst second homeowners, say tax experts, as they look to avoid paying the government’s planned increase in capital gains tax. “Flipping homes is a real possibility for second home investors and is one way of avoiding capital gains tax,” said John Whiting, president of the Chartered Institute of [...]
Stan Chart first to list in India May 13, 2010 STANDARD Chartered yesterday become the first foreign company to list in India. It hopes to raise around £500m through an Indian Depositary Receipts (IDR) scheme – the equivalent of a listing. The terms of the deal states that 10 IDRs are equivalent to one share. It will allow Indian nationals, who are barred from owning [...]
StanChart mulls a $5bn Nedbank bid May 12, 2010 STANDARD Chartered is considering an audacious bid for more than half of South Africa’s Nedbank. The emerging markets specialist is interested in snapping up the 54 per cent stake in the bank owned by Old Mutual. The bank, which would represent a crucial foothold in Africa’s biggest economy, would cost it more than $5bn (£3.4bn). [...]
CITY MOVES | WHO’S SWITCHING JOBS May 12, 2010 Matrix Group The financial services business has appointed Tiraneh Tehranchian as its new head of risk. Tehranchian joins from Man Global Strategies, part of Man Investments, where she has held the position of head of risk for the past five years. Prior to that, she was a risk manager at Abbey National Treasury Services and [...]
FTSE falls on uncertainty over Greek debt, government and Chinese inflation May 11, 2010 BRITAIN’S top share index fell yesterday as concerns over the Eurozone’s rescue package, monetary tightening in China and political uncertainty in the UK hit investor sentiment. The FTSE 100 index closed down 53.21 points, or 1 per cent, at 5,334.21, having gained 5.2 per cent on Monday after an emergency rescue package from the European [...]
Banks boost FTSE after Euro bailout May 10, 2010 BRITAIN’S leading share index scored its biggest one-day per cent rise in nearly 18 months yesterday as the $1 trillion (£645bn) Eurozone rescue package doused concerns of EU debt defaults and further economic dislocation. Bank stocks, which plunged last week on their exposure to debts of Greece and other EU states, led the advance as [...]
LONDON TURNS OUT IN FORCE TO WATCH FINAL ELECTION SHOWDOWN May 6, 2010 FITTINGLY for one of the most important elections in this country’s history, turnout smashed expectations yesterday – and we’re talking of the bars, pubs and restaurants of London, rather than of the polling stations. The City, eager to know what the next government will have in store for them, flocked to parties as the results [...]
FTSE falls for fourth day as fears over scale of Greek crisis continue to weigh May 6, 2010 BRITAIN’S leading shares fell for the fourth straight session yesterday, led by banks and miners weighed by uncertainty over euro zone debt concerns, as Britain’s electorate went to the polls. The FTSE 100 index closed down 80.94 points, or 1.5 per cent, at 5,260.99 just above a support level of 5,259 given by analysts. The [...]
FTSE 100 hit by falling banks as fears over Eurozone debt contagion continue May 5, 2010 BRITAIN’S top shares index shed 1.3 per cent yesterday laid low by weaker banks, as Eurozone debt contagion concerns intensified and Moody’s warned that Portugal’s debt could be downgraded. The FTSE 100 ended down 69.18 points at 5,341.93, a fourth consecutive session of falls, closing at a level not seen since 25 February. The FTSE [...]
Record profit for StanChart May 4, 2010 THE booming Asian economies pushed Standard Chartered to record first-quarter earnings. The bank said yesterday it has had “a very strong start to the year” despite fierce competition in its core Asian markets. It did not release profit figures for the quarter but said 2010 promises to be a bumper year. Standard Chartered was pulled [...]