BEST OF THE BROKERS June 16, 2010 TESCO ING reiterates a “buy” recommendation on Tesco and said this was a fairly lacklustre first trading update, although the market shouldn’t be hugely surprised. ING noted Tesco’s chief executive Terry Leahy expects the first quarter to be a low point for the year and he continues to talk about “recovering global consumer markets.” CARPHONE [...]
BEST OF THE BROKERS June 16, 2010 TESCO ING reiterates a “buy” recommendation on Tesco and said this was a fairly lacklustre first trading update, although the market shouldn’t be hugely surprised. ING noted Tesco’s chief executive Terry Leahy expects the first quarter to be a low point for the year and he continues to talk about “recovering global consumer markets.” CARPHONE [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2010 FINANCIAL TIMES LEHMAN CREDITORS GET A LIFT AFTER $620M OF ASIAN ASSETS ARE SOLD The Hong Kong-based liquidators of Lehman Brothers’ Asian operations have sold $620m (£420m) of the failed investment bank’s portfolio of loans, bonds and equity positions in the region. The transactions, which achieved an average recovery rate of 100 per cent, mark [...]
Base metals can still shine in an uncertain environment August 8, 2010 THE global economy is at an important crossroads; economic data from the US has been patchy and signs of a slowdown in China are causing bouts of volatility in risky assets. However, base metal prices have held up well. The question is, will they continue to do so? The recent surge in base metal prices [...]
S&P boosts Lloyds and RBS May 26, 2010 Standard & Poor’s, the credit rating agency, has upgraded its stance on government-backed Lloyds Banking Group and Royal Bank of Scotland in a move that underlines the recovery at the two banks. S&P raised the ratings on the institutions one notch from BBB to BBB+. Lloyds, 41 per cent owned by the taxpayer, bounced back [...]
S&P boosts Lloyds and RBS May 26, 2010 Standard & Poor’s, the credit rating agency, has upgraded its stance on government-backed Lloyds Banking Group and Royal Bank of Scotland in a move that underlines the recovery at the two banks. S&P raised the ratings on the institutions one notch from BBB to BBB+. Lloyds, 41 per cent owned by the taxpayer, bounced back [...]
RBS sells off Pakistani arm in £34m deal June 16, 2010 ROYAL Bank of Scotland yesterday said that Faysal Bank is to acquire 99.37 per cent of RBS Pakistan for 4.298bn rupees (£34m). Pakistan lender Faysal Bank, which is 68 per cent owned by Bahrain-based Ithmaar, beat Egyptian Bank EFG-Hermes in the race to snap up the lender. Pakistan’s central bank said in March it had [...]
RBS sells off Pakistani arm in £34m deal June 16, 2010 ROYAL Bank of Scotland yesterday said that Faysal Bank is to acquire 99.37 per cent of RBS Pakistan for 4.298bn rupees (£34m). Pakistan lender Faysal Bank, which is 68 per cent owned by Bahrain-based Ithmaar, beat Egyptian Bank EFG-Hermes in the race to snap up the lender. Pakistan’s central bank said in March it had [...]
FTSE sinks to lowest level in a month as Fed’s statement makes investors nervous June 24, 2010 BRITAIN’S FTSE 100 share index fell yesterday as fears over the sustainability of a global recovery hit commodity-linked stocks and banks as risk appetite waned. The FTSE 100 closed down 78.29 points, or 1.5 per cent at 5,100.23 points, its lowest closing level in almost a month after shedding 1.3 per cent on Wednesday. A [...]
RBS in talks for business bank May 16, 2010 Royal Bank of Scotland is in exclusive talks to buy Whiteaway Laidlaw, which is a tiny Manchester-based business bank. The part-nationalised lender is working on a bid through its private equity arm to buy the bank, which is a subsidiary of the Manchester Building Society. Banks such as Whiteaway Laidlaw are usually attractive to new [...]