Pace secures loans to snap up 2Wire September 1, 2010 PACE, the world’s largest set-top box maker, has agreed loans of $450m (£291.1m) to fund its acquisition of US broadband technology firm 2Wire. A $300m term loan and $150m of revolving credit were underwritten by HSBC and Royal Bank of Scotland. An existing £35m credit line with RBS was cancelled. The acquisition, which Pace hopes [...]
Liverpool board won’t be rushed into selling club August 15, 2010 LIVERPOOL managing director Christian Purslow concedes the club needs to be sold urgently but has warned they will not be pressured into rushing a deal. Chinese businessman Kenny Huang and Syrian Yahya Kirdi have both held discussions about buying the Reds from American pair Tom Hicks and George Gillett. But doubts have been raised about [...]
Lloyds closes Irish business banking arm August 19, 2010 LLOYDS BANKING GROUP has decided to wind down its Irish business lending operation, which was badly hit by the bursting of the Republic’s property bubble two years ago. Following a four-month review, Lloyds said it would pass £21.5bn of commercial loans in the region to its Bank of Scotland subsidiary. Most of the 800 Lloyds [...]
COMING SOON TO AN OLD PUB NEAR YOU… A BRAND NEW WAITROSE April 5, 2011 WAITROSE wants to grow – but Britain seems strangely bereft of suitable sites for the grocer, which is fighting a bitter convenience store war with its bigger rivals. So a desperate Waitrose has launched a highly unorthodox appeal to landlords to help it out. All sites and all properties will be considered, says the grocer [...]
Banks jump on Basel III talk as FTSE hits four-month high September 9, 2010 BRITAIN’S top share index rose sharply yesterday to post a four-month closing high, as US weekly jobless claims fell more than expected and further eased concerns of the United States falling back into recession. Economy-sensitive banks were among the top gainers, up 2.3 per cent, also aided by expectations that the new Basel III capital [...]
Banks jump on Basel III talk as FTSE hits four-month high September 9, 2010 BRITAIN’S top share index rose sharply yesterday to post a four-month closing high, as US weekly jobless claims fell more than expected and further eased concerns of the United States falling back into recession. Economy-sensitive banks were among the top gainers, up 2.3 per cent, also aided by expectations that the new Basel III capital [...]
Connaught shares continue to fall as fears of a debt-for-equity swap build August 9, 2010 SHARES in embattled housing maintenance firm Connaught tanked again yesterday, as investors reacted to last week’s warning of “material losses” and talk of a debt-for-equity swap. The stock closed down 29 per cent at 11p, after hitting a low of just 9.2p earlier in the day. The 52-week high for Connaught shares stands at 448.3p. [...]
S&P CASTS DOUBT ON BANK REVIVAL August 26, 2010 RATING agency Standard & Poor’s (S&P) cast doubt on the strength of the UK banking sector’s recovery yesterday, saying lenders had been buoyed by a rising economic tide. The claim, made after this month’s bumper first-half earnings season, was immediately rebuffed by banking industry figures. While institutions realise they have been helped by an improving [...]
S&P CASTS DOUBT ON BANK REVIVAL August 26, 2010 RATING agency Standard & Poor’s (S&P) cast doubt on the strength of the UK banking sector’s recovery yesterday, saying lenders had been buoyed by a rising economic tide. The claim, made after this month’s bumper first-half earnings season, was immediately rebuffed by banking industry figures. While institutions realise they have been helped by an improving [...]
THE TIPSTER August 8, 2010 LAST week, Royal Bank of Scotland (RBS) released positive earnings, which followed upbeat performances from HSBC, Barclays and Lloyds Banking Group, indicating a recovery of the UK banking sector. An inverse head and shoulders bullish pattern is noted on daily charts of RBS and an important level of 49.7p has been broken, signalling further gains. [...]