Unicredit execs declare that the euro is finished September 28, 2011 THE EURO is dead and cannot be saved, while Greece will inevitably default, Attila Szalay-Berzeviczy, head of global securities services at UniCredit Group wrote in an article on a Hungarian website yesterday. And Unicredit chief executive Federico Ghizzoni was reported to have said that US banks are withdrawing from the region entirely. “Having today US banks [...]
Banks chiefs cheer a better start to 2012 March 27, 2012 SENIOR executives at Barclays and HSBC signalled a strong start to the year yesterday while shares in Royal Bank of Scotland jumped on hopes of investment from the Abu Dhabi ruling family. Bob Diamond, chief executive of Barclays, said investment banking volumes had shown a “pleasing increase” while the retail business had performed well. “Two [...]
Banks chiefs cheer a better start to 2012 March 27, 2012 SENIOR executives at Barclays and HSBC signalled a strong start to the year yesterday while shares in Royal Bank of Scotland jumped on hopes of investment from the Abu Dhabi ruling family. Bob Diamond, chief executive of Barclays, said investment banking volumes had shown a “pleasing increase” while the retail business had performed well. “Two [...]
FTSE ends higher but Europe closes lower as two-month high fades July 5, 2012 BRITAIN’S top share index closed up but off session highs yesterday as markets fretted over global growth prospects, despite moves by central banks to boost flagging economies. Miners closed slightly higher after China surprised the market by cutting interest rates for the second time in two months. But in a sign of investor caution after [...]
UniCredit sticks to forecasts as results impress August 3, 2011 ITALY’S biggest bank UniCredit could meet analysts’ forecast for 2011 results despite being pummelled by a spreading Eurozone debt crisis, chief executive Federico Ghizzoni said yesterday. Ghizzoni said the bank completed 85 per cent of its 2011 funding plan last month, insulating itself from higher costs as Italian government bond yields hit euro-era records. Speaking [...]
Spain lurches into recession as borrowings costs rise May 17, 2012 Spain officially slipped in to recession in the first quarter, final figures confirmed, leaving the country threatened with a prolonged slump as the turmoil-wracked. In the first quarter, the economy shrank 0.3 per cent in the compared with the last quarter of 2011, and was down 0.4 per cent year on year, the National Statistics [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 1, 2012 FINANCIAL TIMES BSkyB begins board overhaul Two key independent directors at BSkyB are set to leave as the pay-TV company embarks on an overhaul of its board that could weaken its unanimous backing of James Murdoch as chairman. Dame Gail Rebuck, chief executive of Random House, the publisher, and Lord Wilson of Dinton, former cabinet [...]
London not yet in the race for Facebook type flotations May 21, 2012 WITH financial markets in a state of nervousness, the $104bn Facebook flotation appeared to be a godsend for the few investment banks involved. So far this year, investment banks’ equity advisory teams have had a pretty rotten time. The year all started promisingly enough, with the Italian bank Unicredit managing to get a £6bn rights [...]
London not yet in the race for Facebook type flotations May 21, 2012 WITH financial markets in a state of nervousness, the $104bn Facebook flotation appeared to be a godsend for the few investment banks involved. So far this year, investment banks’ equity advisory teams have had a pretty rotten time. The year all started promisingly enough, with the Italian bank Unicredit managing to get a £6bn rights [...]
Andrea Orcel’s move to UBS could end in tears March 26, 2012 THE decision by UBS to hire star investment banker Andrea Orcel is pure box office. Orcel, one of the highest paid bankers of all time (known by some as the George Clooney of banking for his looks), is a big recruit. His impending arrival at UBS marks a statement of intent from the giant Swiss [...]