BAA puts for sale sign over Edinburgh airport October 20, 2011 BAA announced plans yesterday to sell Edinburgh airport, bowing to the UK Competition Commission’s (CC) ruling to sell one of its Scottish airports in order to increase competition. The decision comes after a two-year battle between BAA and the CC, which in 2009 ruled that BAA, owned by Spanish infrastructure giant Ferrovial, exerted a dominant [...]
RBS property sale may fail October 3, 2011 A £1.4bn deal between Royal Bank of Scotland and Blackstone to rid the bank of some of its troubled property loans may fail, robbing the industry of a template for similar transactions, three sources said. The deal required debt funding from third parties of about 60 per cent and was part of a move by [...]
FTSE tumbles as doubts over Eurozone deal take their toll December 12, 2011 Britain’s FTSE 100 fell in light volume yesterday, with investors selling riskier banking and mining assets as analysts concluded that the lack of detail in a European deal on fiscal union left question marks over its long-term plausibility. London’s blue-chips fell 101.35 points, or 1.8 per cent, to 5,427.86, erasing Friday’s 0.8 per cent rise, [...]
FTSE tumbles as doubts over Eurozone deal take their toll December 12, 2011 Britain’s FTSE 100 fell in light volume yesterday, with investors selling riskier banking and mining assets as analysts concluded that the lack of detail in a European deal on fiscal union left question marks over its long-term plausibility. London’s blue-chips fell 101.35 points, or 1.8 per cent, to 5,427.86, erasing Friday’s 0.8 per cent rise, [...]
Lloyds raises net interest margin target October 25, 2011 Part-nationalised bank Lloyds slightly raised its 2011 core banking net interest margin target as a result of the company devising a new way of treating its funding costs and capital. Lloyds said the changes would mean that net interest income within its core banking divisions would increase slightly, while there would be a slight reduction [...]
Lloyds raises net interest margin target October 25, 2011 Part-nationalised bank Lloyds slightly raised its 2011 core banking net interest margin target as a result of the company devising a new way of treating its funding costs and capital. Lloyds said the changes would mean that net interest income within its core banking divisions would increase slightly, while there would be a slight reduction [...]
Sub-prime motor group snaps up ex-FSA deputy October 23, 2011 SIR James Crosby has been named as chairman of sub-prime car finance business MoneyBarn, in his first financial appointment since resigning as deputy chairman of the Financial Services Authority (FSA). MoneyBarn, whose backers include Octopus Investments and merchant bank Quayle Munro, rebranded from Duncton in August. The online company provides finance for consumers and businesses [...]
FTSE falls as Italy debt yields spook investors November 9, 2011 BRITAIN’S top shares sank to their lowest close for a week yesterday on spiralling concerns over Italy’s debt as the country’s bond yields raced to dangerous levels. Italy was thrown into the spotlight as its 10-year bond yields shot above seven per cent, levels that forced bailouts in Ireland, Portugal and Greece, and as investors [...]
FTSE falls as Italy debt yields spook investors November 9, 2011 BRITAIN’S top shares sank to their lowest close for a week yesterday on spiralling concerns over Italy’s debt as the country’s bond yields raced to dangerous levels. Italy was thrown into the spotlight as its 10-year bond yields shot above seven per cent, levels that forced bailouts in Ireland, Portugal and Greece, and as investors [...]
FTSE hits a five-week high on hope of a euro debt plan December 5, 2011 BRITAIN’S FTSE 100 hit a five-week closing high yesterday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the Eurozone. European Union leaders, urged on anxiously by the United States, are seeking agreement on a convincing rescue plan that has eluded them for two [...]