What the other papers say this morning September 23, 2012 FINANCIAL TIMES Banks to shed €20bn property loans Europe’s banks are on track to dispose of €20bn worth of loans backed by offices, shops and hotels this year as lenders across the continent race to reduce exposure to the volatile real estate sector ahead of tough regulatory changes. Banks including Lloyds Banking Group, Santander and [...]
Crunch time for Game as rent deadline looms March 18, 2012 GAME group has just a week to secure financial support as the stricken video games retailer teeters on the brink of administration. The company, which has about 1,300 shops worldwide trading as Game and Gamestation, revealed last week it was holding talks with potential backers as it attempts to raise more than £100m it needs [...]
CITY MOVES WHO’S SWITCHING JOBS April 3, 2012 Post Office Virginia Holmes is joining the board of the Post Office as a non-executive director. Holmes has previously served as chief executive of AXA Investment Managers UK, and spent more than a decade with the Barclays Group, where she was ultimately managing director of Barclays Bank Trust Company. She currently sits on the board [...]
FTSE 100 ticks higher as boost for Vodafone helps counter commodity drag March 21, 2012 BRITAIN’S top share index posted a fractional gain yesterday after a volatile session as strength in market heavyweight Vodafone countered weaker commodity stocks hit by below par US data that revived concerns over demand for metals. The UK blue chip index closed up 0.54 points, or 0.01 per cent, at 5,891.95, surrendering a 0.3 per [...]
Time to split up RBS, Cable tells Cameron March 6, 2012 VINCE Cable, the business secretary, has called for the break-up of Royal Bank of Scotland in a leaked letter that shows a withering view of the direction of the coalition. The Treasury should use the loss-making RBS, which is 82 per cent taxpayer-owned, to create a bank dedicated to boosting business lending and supporting exports, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 1, 2012 FINANCIAL TIMES BSkyB begins board overhaul Two key independent directors at BSkyB are set to leave as the pay-TV company embarks on an overhaul of its board that could weaken its unanimous backing of James Murdoch as chairman. Dame Gail Rebuck, chief executive of Random House, the publisher, and Lord Wilson of Dinton, former cabinet [...]
FTSE closes above 5,800 mark after good US data boosts world outlook May 1, 2012 B RITAIN’S top share index jumped more than one per cent yesterday after stronger-than-expected US manufacturing data gave a lift to global growth hopes, pulling commodity stocks higher. Banks were also in demand as investor risk appetite returned. Shares of Lloyds rallied more than eight per cent after the part state-owned lender reported a £288m [...]
FTSE closes above 5,800 mark after good US data boosts world outlook May 1, 2012 B RITAIN’S top share index jumped more than one per cent yesterday after stronger-than-expected US manufacturing data gave a lift to global growth hopes, pulling commodity stocks higher. Banks were also in demand as investor risk appetite returned. Shares of Lloyds rallied more than eight per cent after the part state-owned lender reported a £288m [...]
Moody’s places almost all EU banks on alert February 15, 2012 RATINGS agency Moody’s put more than 100 European financial firms on review for possible downgrades last night, in the wake of its mass downgrade of sovereign debt on Monday. UK-based banks such as Barclays, HSBC and Royal Bank of Scotland are included in the review. Lloyds, which has been on review since November, is also [...]
CITY MOVES | WHO’S SWITCHING JOBS February 20, 2012 Royal Bank of Scotland RBS has appointed Stuart Dean as head of healthcare in the corporate and institutional banking (CIB) team. Dean has worked at RBS for more than 11 years in the bank’s structured finance division in the south of England and London. Before joining RBS, he spent two years at the John Lewis [...]