US inflation rises February 17, 2012 US petrol prices jumped 0.9 per cent in January, pushing overall consumer prices up at their fastest pace in four months and offering a reminder of the risks energy costs could pose to the economic recovery. The Consumer Price Index rose 0.2 per cent, according to figures from the Labor Department is unlikely to ring [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 20, 2012 FINANCIAL TIMES CANACCORD AND COLLINS STEWART TO AXE 100 JOBS Nearly 100 staff will be made redundant tomorrow when Canaccord Financial completes its acquisition of Collins Stewart Hawkpoint, as London’s stockbroking industry continues to shed capacity. The Vancouver Group agreed to buy Collins Stewart for £253.5m in December EU DEFIES CARBON TRADE WAR THREAT The [...]
Oil stocks lead the FTSE 100 lower despite good gains in bank shares March 27, 2012 HEAVYWEIGHT oil stocks dragged Britain’s top shares lower yesterday, reversing earlier gains that had been driven by strength in banks and miners, as investors proved loath to push the blue-chip index back up to 2012 highs. The FTSE 100 index closed down 33.15 points, or 0.6 per cent, at 5,869.55, near session lows having swung [...]
UK banks to see weak loan growth – Citigroup February 8, 2012 UK banks could see weak loan growth in 2012 as households and corporates cut debt levels amid a tough economic environment and regulators press them to raise capital ratios, Citigroup said. Citigroup analyst Andrew Coombs downgraded Royal Bank of Scotland Group to “neutral” from “buy,” and cut his price target on Lloyds Banking Group on [...]
Gerald Ronson returning to service station roots with bid January 29, 2012 PROPERTY tycoon Gerald Ronson plans to return to his roots with a bid for a collection of Welcome Break service stations put up for sale by Robert Tchenguiz. The Heron Tower developer, who has boasted he “probably knows more about petrol retailing than anyone in the country” after 40 years in the business, has expressed [...]
Gerald Ronson returning to service station roots with bid January 29, 2012 PROPERTY tycoon Gerald Ronson plans to return to his roots with a bid for a collection of Welcome Break service stations put up for sale by Robert Tchenguiz. The Heron Tower developer, who has boasted he “probably knows more about petrol retailing than anyone in the country” after 40 years in the business, has expressed [...]
Insurers find that central banks are all too predictable September 26, 2012 HUNDREDS of homes being evacuated due to flooding in Scotland and northern England wasn’t the ideal backdrop for Lloyd’s of London to announce its upbeat interim results, boosted by a “favourable claims climate”. Then again, even as the number of flood alerts rises, it needn’t sink the Lloyd’s insurance market’s optimism, partly because of its [...]
CITY MOVES | WHO’S SWITCHING JOBS February 28, 2012 Houlihan Lokey Stephen Winningham has joined the international investment bank as managing director, and co-head of European corporate finance in the firm’s London office. Winningham was until recently head of major corporates at Lloyds Banking Group, overseeing the group’s coverage of UK and US investment grade corporate clients. Prior to this, he was global head [...]
Hoare Govett sold at a cost February 1, 2012 BRITISH taxpayers will still have to fork out for the salaries of some Hoare Govett staff after Royal Bank of Scotland sold the legendary stockbroker for just £1. RBS last night agreed to offload Hoare Govett to US investment bank Jefferies and City A.M. understands the state-owned lender will pay some staff costs after the [...]
CapCo enjoys value hike and sells properties in West End February 29, 2012 CAPITAL & COUNTIES (CapCo), the owner of Covent Garden Market and Earl’s Court, has unveiled an 11.7 per cent hike in net asset value and the disposal of its West End properties. The listed developer reported a jump in NAV to 166p per share in 2011 thanks in part to a rise in its total [...]