HMV shares surge by over 30pc March 17, 2011 HMV’s shares surged 32.6 per cent to 15.25p yesterday after chief executive Simon Fox said he was “confident” that the struggling retail firm would survive. Fox said talks the music, books and gaming group was having with its consortium of eight banks, including the state-backed Royal Bank of Scotland and Lloyds Banking Group, were “very [...]
JJB unveils rescue plan March 15, 2011 JJB Sports yesterday said it has secured key support from its bank and major shareholders as it battles to avoid administration. The loss-making retailer said investors including the Bill and Melinda Gates Foundation had agreed to back its latest £65m fundraising, while Bank of Scotland is also prepared to extend £25m in working capital. However, [...]
FTSE rallys on commodities but Eurozone doubts linger May 24, 2011 BRITAIN’S top shares rose yesterday as rallying commodity stocks helped the index recover some of its poise, but the advance may be short-lived as investors find themselves hemmed in by Eurozone debt concerns. The FTSE 100 closed up 22.52 points or 0.4 per cent at 5,858.41, having hit a two-month closing low on Monday after [...]
JJB launches £65m capital raising April 6, 2011 Troubled sports retailer JJB Sports has announced plans to raise £65m from a share placement to provide emergency additional funding. The placement will raise £60m after expenses and will see 162.5 million new shares issued at 40p per share. JJB’s investors Harris Associates, Crystal Amber, Invesco Asset Management and the Bill & Melinda Gates Foundation [...]
Santander loses a third exec to Lloyds March 22, 2011 LLOYDS chief Antonio Horta-Osorio has poached another top executive off the board he led at Santander UK, completing a clear-out of the execs that headed the bank under his leadership. Alison Brittain, executive director for retail distribution and intermediaries at Santander UK, will join Lloyds in September as head of its Lloyds TSB and Bank [...]
Santander loses a third exec to Lloyds March 22, 2011 LLOYDS chief Antonio Horta-Osorio has poached another top executive off the board he led at Santander UK, completing a clear-out of the execs that headed the bank under his leadership. Alison Brittain, executive director for retail distribution and intermediaries at Santander UK, will join Lloyds in September as head of its Lloyds TSB and Bank [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
CITY MOVES | WHO’S SWITCHING JOBS April 20, 2011 Barclays Corporate Barclays Corporate has appointed Tan Kah Chye as head of trade and working capital, joining from Standard Chartered Bank in Singapore, where he held the position of global head of trade finance for the past six years. At Barclays, Chye will use his experience in senior trade finance roles in Asia and Europe [...]
Barclays “most at risk” from bank reforms April 8, 2011 Barclays is most at risk from a government appointed commission’s push to reform the sector by protecting and ring-fencing ordinary savers from risky investment banking, a poll showed. Six out of 11 analysts and fund managers polled said Barclays had the most to lose if the Independent Commission on Banking (ICB) proposes on Monday that [...]