RBS plots sale of aviation unit September 8, 2009 ROYAL Bank of Scotland (RBS) has hired Goldman Sachs to find a buyer for RBS Aviation Capital, the aircraft-leasing unit that the bank hopes to dispose of as part of chief executive Stephen Hester’s efforts to streamline the firm. The unit has assets worth $8bn (£4.8bn), but would fetch far less due to falling demand [...]
J Sainsbury names Tyler September 13, 2009 SUPERMARKET chain J Sainsbury has appointed former GUS finance director David Tyler to become its next chairman. Tyler will be taking over the role of Sir Philip Hampton as head of Britain’s third largest supermarket group. Hampton earlier this year said he would relinquish the position to allow him to concentrate on his chairmanship of [...]
J Sainsbury names Tyler September 13, 2009 SUPERMARKET chain J Sainsbury has appointed former GUS finance director David Tyler to become its next chairman. Tyler will be taking over the role of Sir Philip Hampton as head of Britain’s third largest supermarket group. Hampton earlier this year said he would relinquish the position to allow him to concentrate on his chairmanship of [...]
Banks drag down the FTSE as miners and energy drop October 13, 2009 BRITAIN’S top shares closed 1.1 per cent lower yesterday, as weakness in banks outweighed strength in defensive issues, while sentiment was dampened by falls on Wall Street after disappointing corporate earnings. The benchmark FTSE 100 closed 56.02 points lower at 5,154.15, slipping below the 5,200 level which it hit for the first time in more [...]
Lloyd’s of London is the City’s great gem October 27, 2009 IT was Lord Davies, the former boss of Standard Chartered and current trade minister, who put it best. Speaking at a gathering of senior figures at Drapers’ Hall organised by the City of London on Monday night, he pointed out that among all the chaos in financial services, there is one player that has emerged [...]
Lloyd’s of London is the City’s great gem October 27, 2009 IT was Lord Davies, the former boss of Standard Chartered and current trade minister, who put it best. Speaking at a gathering of senior figures at Drapers’ Hall organised by the City of London on Monday night, he pointed out that among all the chaos in financial services, there is one player that has emerged [...]
Goldman sends LSE shares down despite praise for CEO October 21, 2009 The FTSE 100 was all about the power of the analyst today, with a number of individual movers spurred up or down by words of wisdom from the City’s finest. The London Stock Exchange (LSE) shed 2.2 per cent to close at 914p after Goldman Sachs cut its rating on the stock to “neutral” on [...]
Myners disagrees with Obama on pay October 21, 2009 IT is almost funny how, in our topsy-turvy world, highly-paid bank workers are now being accused of exploiting the capitalist class in the form of bank shareholders. The latest to make that claim is Lord Myners, the City Minister, who described the present levels of bonuses as “a market failure”, by which he meant proof [...]
THE LONDON REPORT September 29, 2009 THE FTSE 100 closed marginally lower yesterday as buoyant financials struggled against disappointing US data, falls from miners and Vodafone. The index closed 5.98 points, or 0.1 per cent, lower at 5,159.72, after a choppy day of trading, having ended Monday’s session 1.6 per cent firmer. Miners were among the biggest laggards, with investors plagued [...]
City warns of flaws in living wills proposal September 15, 2009 THE CITY yesterday flagged up flaws in proposals that will force banks to write “living wills” to help regulators wind them up in the event that they collapse.Chancellor Alistair Darling said yesterday that the government was planning to introduce legislation in November which would require banks to make their corporate structures more simple and provide [...]