Liverpool owners Hicks and Gillett “breathtakingly arrogant” in bid to prevent club’s sale October 12, 2010 EMBATTLED Liverpool owners Tom Hicks and George Gillet were accused of “breathtaking arrogance” yesterday in court for “a calculated breach of contract” designed to delay the club’s sale. Richard Snowden QC, for Royal Bank of Scotland, argued that the American pair tried to sack board members and replace them without the necessary authority, in order [...]
RBS may sell £1bn Spanish property unit October 18, 2010 Royal Bank of Scotland (RBS) is understood to be considering selling a £1bn Spanish property loan portfolio after hiring Morgan Stanley to advise on its options. The Spanish commercial property loans add to a £3bn portfolio of British real estate loans also on the block. Private equity firms and specialised investors looking to pick up [...]
Hicks won’t back down in Liverpool sale fight October 7, 2010 EMBATTLED Liverpool owners Tom Hicks and George Gillett have fought back in the bitter internal power struggle over the club’s future ownership. Hicks insisted yesterday that Liverpool’s board had not been entitled to accept a £300m bid from New England Sports Ventures, in defiance of his and Gillett’s wishes, because two of the directors had [...]
BEST OF THE BROKERS September 21, 2010 BARCLAYS Royal Bank of Scotland (RBS) expects that negative operating trends will reverse and a ‘new world’ Barclays is set to deliver. The broker reiterates a “buy” rating for the bank with a 410p price target. Gradual profit and loss momentum, fluidity and execution of group strategy are key to a sustained re-rating, according to [...]
FTSE 100 slips on financials’ exposure to Ireland’s debts November 11, 2010 FINANCIALS pressured Britain’s top share index yesterday as concerns over Royal Bank of Scotland’s exposure to Ireland’s debt troubles weighed on the bank, and ICAP fell after a downgrade from BofA Merrill Lynch. Weakness among financials offset gains in commodity-linked assets, which rallied after strong data from China, the world’s biggest consumer of raw materials, [...]
BEST OF THE BROKERS September 20, 2010 CARPHONE WAREHOUSE Morgan Stanley has raised its Carphone Warehouse target from 220p to 275p and issues an “overweight” rating for the retailer. The broker believes consensus forecasts for Carphone Warehouse do not factor in the impact that high-selling-price smartphones will have on like-for-like sales over the next 12 months. ROYAL BANK OF SCOTLAND JP Morgan [...]
NATIONAL BUSINESS AWARDS CELEBRATE VERY BEST OF BRITISH November 9, 2010 “CELEBRATING” the Best of British was how Prime Minister David Cameron described the National Business Awards last night, speaking via a video link recorded before his trip to China this week. And a fine celebration the ceremony was too, honouring companies of all sectors and sizes across the UK economy, from niche tiddlers such as [...]
Commodities and banks lift FTSE but gains are tempered by Fed QE decision November 1, 2010 Miners led Britain’s top shares higher yesterday, boosted by strong data from China, but gains were tempered as investors looked ahead to the outcome of the US Federal Reserve’s meeting tomorrow. Miners rose after data showing demand in China, the world’s biggest consumer of metals, was holding up. The world’s biggest integrated zinc producer Xstrata [...]
Hicks and Gillett set to block fresh offers to buy Liverpool October 5, 2010 UNPOPULAR owners Tom Hicks and George Gillett faced the wrath of Liverpool supporters again last night after it was revealed they are to set to oppose two fresh bids to buy the club. The Liverpool board met yesterday to discuss proposals from two consortiums – one believed to be from Asia and the other from [...]
Arcus aims to bid for Forth March 20, 2011 ARCUS Infrastructure Partners aims to announce a formal £744m takeover offer for FTSE 250-listed Forth Ports tomorrow, alongside the target’s full-year results, a source familiar with the company confirmed yesterday. Arcus, which already owns a 22.8 per cent stake in Forth, is likely to keep its offer in line with the £16.30 per share indicative [...]