WHAT THE OTHER PAPERS SAY THIS MORNING March 15, 2010 THE SUNDAYS The Sunday Telegraph NIGERIA’S STATE OIL TO GO PRIVATE Nigeria’s state-owned National Petroleum Corporation (NNPC) has initiated talks with investment banks including Standard Chartered, JP Morgan, and Deutsche Bank to explore financing options as it changes into a fully privatised commercial company. GAMING GIANT TO SEEK LISTING Gala Coral, which is set to [...]
Financial institutions and commodities help London’s top stocks to gain ground March 10, 2010 BRITAIN’S leading share index added 0.7 per cent yesterday, buoyed by strength in commodity issues, supported by trade data from China, and in banks and insurers as Wall Street put in an early advance. At the close, the FTSE 100 was 38.27 points higher at 5,640.57, a 20-month peak, at levels not seen since June [...]
Banks weigh on the FTSE as Credit Suisse warns of future funding crisis March 9, 2010 BRITAIN’S top share index closed a touch lower yesterday, as a weakening in banks after a cautious research note from Credit Suisse slightly outpaced buoyant oil issues and drugmakers. The FTSE 100 ended down 4.42 points, or 0.1 per cent, at 5,602.30, having closed up 0.1 per cent on Monday, its highest close since 2 [...]
Standard Chartered books a record year March 3, 2010 STANDARD Chartered has powered to a seventh successive year of record profits and earnings. It credited strong recovery in its core Asian and African markets for a 13 per cent increase in pre-tax profits to $5.15bn (£3.4bn). Revenue shot up nine per cent to $15.2bn, buoyed by each of its divisions in Korea, India, Singapore [...]
Sands does it again despite hard times March 3, 2010 IT’S almost impossible to believe. Despite the worst recession in a generation and the near-implosion of the global banking sector, Standard Chartered yesterday celebrated a seventh consecutive year of growth. Shrugging off the contraction in worldwide GDP, the Asia-focused bank booked record profits of $5.1bn (£3.4bn) thanks to strong performances from Hong Kong and India. [...]
Employees reap a $4.9bn pay day March 3, 2010 STANDARD Chartered dished out a $4.9bn compensation package for its employees as it announced record profits. Its remuneration ratio is 32 per cent of its $15.2bn revenue – slightly down from the 34 per cent handed out the year before. It works out at $64,000 for each of its 77,000 staff. The amount given in [...]
FTSE rises as commodities and financials set the pace March 3, 2010 BRITAIN’S leading shares gained 0.9 per cent yesterday, boosted by strength in miners and oils, banks and life insurers, as upbeat US data lifted Wall Street. At the close, the FTSE 100 was 49.15 points higher at 5,533.21, ending at a seven-week peak on its fourth straight session of gains. “All the figures were pretty [...]
Standard Chartered profit tops £3bn March 3, 2010 STANDARD Chartered has reported a 13 per cent jump in profit for 2009. The bank said it would hand bonuses to top managers on the strength of the performance of the company. Its investment banking growth in its core Asian markets offset a jump in bad debts in the Middle East. The profit rose to [...]
Gains in banking shares lead the FTSE to a six-week high March 2, 2010 BRITAIN’S top share index hit a six-week closing high yesterday and rose for a third straight session, led by banks with HSBC firmer after the previous session’s post results sell-off. The FTSE 100 closed up 78.12 points, or 1.45 per cent, at 5,484.06, its highest closing level since January 19, after climbing 1 per cent [...]
EASTERN PROMISE March 1, 2010 HSBC yesterday showed a stronger commitment to emerging markets than ever before, as it revealed that Asia Pacific takings accounted for 130 per cent of headline profits and predicted growth of six per cent in the region over 2010. The bank’s operations in Asia, where one in two people bank with HSBC, posted a pre-tax [...]