Placing of shares makes G4S look less secure as markets enjoy a strong day March 17, 2010 SHARES in security services group G4S were the biggest fallers in the leading index for the second day running, even as the market closed near a 21 month high on renewed economic optimism and a spate of takeover news. Hot on the heels of a disappointing 2010 forecast, G4S was hit by news of the [...]
Banks and commodities gain strength after S&P reassures on Greek debt March 16, 2010 BRITAIN’S top shares gained 0.5 per cent yesterday lifted by strength in banks and commodity issues after reassuring news on Greece’s debt situation and as investors awaited the outcome of a US Federal Reserve meeting. At the close, the FTSE 100 was 26.58 points higher at 5,620.43, having closed 0.6 per cent lower on Monday. [...]
Rules on pay disclosure to be tightened March 10, 2010 TENS of thousands of investment bankers could be forced to disclose the size of their pay packet, in a government move that will send shock waves through the City. City minister Lord Myners yesterday revealed government plans to further tighten policy proposals first put forward by Sir David Walker in a corporate governance report last [...]
Employees reap a $4.9bn pay day March 3, 2010 STANDARD Chartered dished out a $4.9bn compensation package for its employees as it announced record profits. Its remuneration ratio is 32 per cent of its $15.2bn revenue – slightly down from the 34 per cent handed out the year before. It works out at $64,000 for each of its 77,000 staff. The amount given in [...]
Virgin lights £500m fire under RBS bid April 5, 2010 VIRGIN Money has made an aggressive push for dominance ahead of today’s deadline for expressions of interest in Royal Bank of Scotland’s branch network, securing up to £500m of extra financial firepower from new billionaire stakeholder Wilbur Ross. Virgin Money, which will today table its initial bid for the 300-plus RBS branch network, is one [...]
Bharti will pay Zain $10bn February 16, 2010 Bharti Airtel will finance its $10.7bn (£6.78bn) bid for Kuwaiti telecom firm Zain’s African assets with foreign currency loans. India’s top mobile operator is believed to be in talks with Standard Chartered, Barclays, State Bank of India, Goldman Sachs and Nomura to secure funding. State Bank of India had already agreed to provide $2bn in [...]
New look board behind the turnaround at RBS February 25, 2010 The Royal bank of Scotland chairman yesterday pinned the bank’s change in fortunes on the strength of its new board. Philip Hampton said the people who brought the institution to the brink of collapse have all been culled. The board, which has stemmed RBS’ losses at £3.6bn after it lost £24bn the year before, has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 2, 2010 FINANCIAL TIMES LENDERS SHUNNED ON STRESS TESTS DOUBTS Leading UK and continental European companies are increasingly shunning banks from Spain, Italy and even Germany because they do not believe the Europe-wide stress testing of banks gave a true picture of their financial health. Corporate treasurers from groups with revenues of more than $240bn told the [...]
HSBC’s chief gives up £4m February 28, 2010 HSBC boss Michael Geoghegan will announce plans today to hand over his multi-million pound bonus to charity as the banking giant reveals annual results. Geoghegan, who was is understood to have been in line to receive a £4m payout, will donate his bonus to charity after the bank’s strong 2009 performance. HSBC’s annual profits are [...]
Darling: Lend or we will cut bank bonuses March 24, 2010 THE government is threatening to slash bonuses at state-owned Lloyds Banking Group and Royal Bank of Scotland (RBS) if they miss their target of lending £94bn this year. Government papers published alongside chancellor Alistair Darling’s Budget said UK Financial Investments, which controls the taxpayer’s stake in the banks, had the power to “work with the [...]