MAN GROUP ROLLS OUT THE BARREL FOR NEW HQ July 14, 2011 IT HAS only been three months since George Osborne spent the morning at Nomura to declare the Japanese bank’s new offices officially open. But the chancellor was yesterday back in the Lower Thames Street area for the unveiling of Man Group’s new global HQ at Riverbank House, next-door to Nomura at 2 Swan Lane. “I’m [...]
MILLION EURO WIN FOR SILVER SPECULATOR June 20, 2011 SILVER is the stock of the moment – just ask the Slovakian kindergarten teacher who has become a euro millionaire by “transacting heavily” on the commodity to win a trading contest run by European brokerage house XTB. The 30-year-old teacher, known only by her trading name of “Rudinka”, surged ahead in the late stages of [...]
MILLION EURO WIN FOR SILVER SPECULATOR June 20, 2011 SILVER is the stock of the moment – just ask the Slovakian kindergarten teacher who has become a euro millionaire by “transacting heavily” on the commodity to win a trading contest run by European brokerage house XTB. The 30-year-old teacher, known only by her trading name of “Rudinka”, surged ahead in the late stages of [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]
BEST OF THE BROKERS November 7, 2010 ROYAL BANK OF SCOTLAND Standard & Poor’s has upgraded the State-backed bank to “buy” from “hold”, but has trimmed its 12 month target price by 1p to 57p. The broker notes that RBS’s results last week confirmed the bank is on track to deliver profit next year, and expects a significant uplift in profitability over [...]
RBS in MUFJ project deal November 3, 2010 ROYAL Bank of Scotland (RBS) is in talks to sell a $6.4bn (£4bn) project finance book to Japan’s Mitsubishi UFJ Financial, which includes loans for London’s orbital M25 motorway and a gas pipeline between Russia and Germany. Sources told City AM the sale would help the government–backed bank boost its balance sheet. RBS, led by [...]
Scot free… No censure for Fred the Shred December 2, 2010 SHAMED banker Sir Fred Goodwin escaped censure for his role in the near-collapse of Royal Bank of Scotland (RBS) yesterday. After an 18-month investigation the Financial Services Authority (FSA) decided there was no fraud or dishonest activity by the former bank boss or his executives. It said a series of “bad decisions” were made, in [...]
Liverpool hit out at late bid to delay NESV deal October 13, 2010 LIVERPOOL slammed Tom Hicks and George Gillett’s last-ditch attempt to scupper their deal with New England Sports Ventures late last night. Calling the move “unwarranted and damaging”, the club’s board vowed to remove the latest obstacle to completing a protracted sale. Liverpool chairman Martin Broughton was preparing to announce that the £300m transaction had been [...]
Sir Fred’s sidekick returns October 25, 2010 A FORMER Royal Bank of Scotland executive who agreed never to work in the City following an FSA probe is to become a senior adviser to a small investment bank, it emerged last night. Johnny Cameron, who sat on the board of RBS alongside Sir Fred Goodwin at the time of the bank’s bail-out, struck [...]
Q&A BIS FUNDING December 9, 2010 Q. Does the Department of Business Innovation and Skills (BIS) have programs that help entrepreneurs? What are they? A.BIS has several programs that can give extra funding to entrepreneurs. Chief among them are the Enterprise Finance Guarantee (EFG) and the Enterprise Capital Funds (ECF). EFGs are bank loans intended for small and medium sized enterprises [...]