FTSE shares rebound but debt worries still dog bank stocks April 19, 2011 STRENGTH in oversold commodity issues fuelled a modest rally by Britain’s top share index yesterday, while sovereign debt worries continued to dog banking stocks. At the close, the FTSE 100 index was up 26.79 points, or 0.5 per cent at 5,896.87, having dropped 2 per cent on Monday to hit its lowest level since March [...]
FTSE falls with investors still cautious ahead of US results April 14, 2011 BRITAIN’S top share index fell yesterday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels. The FTSE 100 fell 46.64 points, or 0.8 per cent, to 5,963.80, its lowest close since 31 March. The index is up 1.1 per cent [...]
Vincent Tchenguiz’s Peverel in administration March 14, 2011 Embattled tycoon Vincent Tchenguiz’s property management company Peverel has entered administration after failing to repay a loan. Bank of America Merrill Lynch demanded repayment within 24 hours of a £124.6m loan plus £11.4m in accrued interest, another Vincent Tchenguiz company, Consensus Business Group, said in a statement. The demand, on March 10, came just a [...]
FSA puts back date for bank probe report March 6, 2011 BRITAIN’S financial watchdog has delayed the publication of a long-awaited report into the Royal Bank of Scotland’s collapse during the financial crisis. The Financial Services Authority (FSA) had promised to publish its findings later this month, yet it will now wait until April at the earliest to make its investigation public. The regulator is currently [...]
Government is likely to stagger bank stake sales February 8, 2011 THE government is likely to sell its stakes in state-backed banks Lloyds Banking Group and Royal Bank of Scotland in several tranches, a senior Treasury civil servant said. “As and when these shares are sold into the market, just the sheer scale of the holdings will make this, I think, the biggest UK share sale [...]
Government is likely to stagger bank stake sales February 8, 2011 THE government is likely to sell its stakes in state-backed banks Lloyds Banking Group and Royal Bank of Scotland in several tranches, a senior Treasury civil servant said. “As and when these shares are sold into the market, just the sheer scale of the holdings will make this, I think, the biggest UK share sale [...]
Bullish brokers boost banks as energy and mining stocks sag March 28, 2011 BULLISH broker comment helped push the banking sector higher yesterday, as Britain’s top share index neared key technical resistance levels after its recent rally, with commodity stocks weighing on the upside. The FTSE 100 closed 3.73 points, or 0.1 per cent, higher at 5,904.49, near its 50-day moving average of 5,933.83. The index has traded [...]
Bullish brokers boost banks as energy and mining stocks sag March 28, 2011 BULLISH broker comment helped push the banking sector higher yesterday, as Britain’s top share index neared key technical resistance levels after its recent rally, with commodity stocks weighing on the upside. The FTSE 100 closed 3.73 points, or 0.1 per cent, higher at 5,904.49, near its 50-day moving average of 5,933.83. The index has traded [...]
Bank lending target agreed February 7, 2011 BRITAIN’S banks are to pledge over £1bn in funding for small businesses, as months of negotiations with the government draw to a close. The agreement comes as part of the “Project Merlin” talks between Westminster and the City over industry-wide lending commitments and pay transparency. UK banks are understood to have agreed to offer £1.3bn [...]
CITY MOVES | WHO’S SWITCHING JOBS March 2, 2011 Kinsey Allen International Sebastian Piggott has joined Kinsey Allen International (KAI), the global executive search firm, as a consultant. Piggott joins Kinsey Allen International’s fixed income practice to focus on senior sales and trading hires across credit, rates and foreign exchange. Piggott started his career in 1990 at Yamaichi International, and subsequently worked for Natwest [...]