FTSE up as Greek D-Day arrives February 20, 2012 Miners led the FTSE 100 upwards this morning as China moved to stimulate more growth in its economy and Eurozone chiefs were poised to finally sign a bailout agreement to save Greece. China’s central bank cut the amount of cash banks must hold in reserves, boosting lending capacity for the second time in nearly three [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2012 FINANCIAL TIMES BANKING QUINTET UNITE FOR HEDGING TOOL Five banks have joined forces to create a hedging tool designed to improve the health of their balance sheets and protect them against market sell-offs as international regulations force institutions to increase the quality of their assets. Barclays Capital, HSBC, Lloyds, Nomura and UBS are to launch [...]
HSBC leads banking shares down despite bumper profit February 27, 2012 BRITAIN’S leading share index ended lower yesterday, pressured by weakness in banking issues after international leaders said more money was needed from Europe to help ease the region’s debt crisis, and with heavyweight HSBC falling after its results. Eurozone countries pledged at a meeting of finance leaders of G20 economic powers on Sunday to reassess [...]
£1.6m for Goldman exec January 29, 2012 GOLDMAN Sachs has awarded a $2.5m (£1.59m) bonus to its top City of London banker. The package handed to Michael Sherwood, head of Goldman’s London operation and chairman of its partnership committee, was related to performance shares from 2009 and 2010 that were deferred. Sherwood, 45, is one of several executives seen as a possible [...]
RBS spearheads banks’ rally on FTSE February 23, 2012 The FTSE staged a rally this morning spearheaded by banks as investors gave a positive reaction to RBS results. Markets yesterday had been dented by surging oil prices which triggered fears that world global growth could be hampered while data in the Eurozone suggested that the bloc could lurch into recession. Banking stocks jumped in [...]
FTSE buoyed by Greek endgame February 17, 2012 The FTSE 100 opened on the front foot as the end game at last appeared to be approaching in the Greek bailout debacle. Optimism is growing that Greece has finally done enough to secure a second bailout, which could be approved as early as Monday. Averting a disorderly Greek insolvency is seen as a crucial [...]
Lloyd’s takes £2bn hit from natural disasters May 13, 2011 The Lloyd’s of London insurance market said it expects to take $1.95bn (£1.19bn) hit from the Japanese earthquake, bringing total estimated catastrophe claims in the first quarter to nearly $4bn. The loss estimate is well within the worst case scenarios Lloyd’s prepares for, and the market will have no difficulty paying claims, it said in [...]
Lloyd’s takes £2bn hit from natural disasters May 13, 2011 The Lloyd’s of London insurance market said it expects to take $1.95bn (£1.19bn) hit from the Japanese earthquake, bringing total estimated catastrophe claims in the first quarter to nearly $4bn. The loss estimate is well within the worst case scenarios Lloyd’s prepares for, and the market will have no difficulty paying claims, it said in [...]
FTSE Flat as Greek bailout gets the nod February 21, 2012 THE FTSE 100 was broadly flat this morning as Eurozone leaders agreed a second bailout for Greece after weeks of tortuous negotiations. Investors overall were encouraged by the move but there were still fears that the €130bn lifeline was only a short term fix for Greece which is drowning in debt. The deal was largely [...]
Banks hit by latest ratings blow February 16, 2012 The FTSE 100 fell this morning with the banking sector pegging back the index as Moody’s threatened to downgrade 17 banks and securities firms and the Greece bailout hit yet more hurdles. The ratings agency said it might cut the long-term credit rating of UBS, Credit Suisse and Morgan Stanley by as much as three [...]