Top RBS bankers quit amid furious backlash over bonuses February 15, 2010 TWO investment banking hotshots have quit their positions at Royal Bank of Scotland just weeks before the annual bonus round, amid a furious populist backlash against potential payouts at the bailed-out bank. Steve Ashley, the head of interest rates trading, and Chris Fleming, the head of European flow sales, resigned on Friday. Both are thought [...]
Virgin Money wins acceptances for Church House Trust purchase February 9, 2010 VIRGIN Money yesterday said it had received acceptances from shareholders representing all of the voting rights for small bank Church House Trust, which it is buying to gain a full UK banking licence. The company, headed by Jayne Anne Gadhia, has already confirmed its interest in buying assets from Northern Rock, Lloyds Banking Group and [...]
Arriva soars after foreign bid approach March 17, 2010 ARRIVA, the bus and train operator, has received a £1.4bn takeover bid from Deutsche Bahn, the German state-run transport group. Shares in the Sunderland-based company soared yesterday following the news of the 700p per share offer, rising by almost a fifth – their biggest jump for 15 years – eventually closing up 16.8 per cent at [...]
FTSE ends higher on oil and mining after upbeat US data April 6, 2010 BRITAIN’S top shares closed 0.6 per cent higher yesterday, lifted by firmer commodities after upbeat US data raised demand expectations, while Vodafone fell as Verizon merger talk cooled. The FTSE 100 ended up 35.46 points at 5,780.35, having earlier hit a fresh 21-month intra-day peak of 5,790.40. The index climbed 1.2 per cent on Thursday [...]
…as it sells a £185m stake in Esure to Peter Wood February 11, 2010 Lloyds Banking Group is selling off its majority stake in online insurer Esure as part of its plans to scale back its non-core operations. New company Esure Group Holdings, run by veteran insurance entrepreneur Peter Wood, is paying £185m for the 70 per cent stake – “slightly more” than its book value. The management buyout [...]
Bewitching homes for beautiful living October 28, 2010 WHILE few sane people would relish the idea of cohabiting with a ghost or other supernatural presence, Britain is an old country and has its fair share — perhaps more than its fair share — of spooky residences. We have more graveyards than you can shake a stick at, and plenty of people have died [...]
Lloyds seeks buyers for its €1bn Irish Halifax deposits February 17, 2010 LLOYDS Banking Group has put its Halifax retail banking assets in the Republic of Ireland up for sale as it gives up its attempt to break into the tough local market. Earlier this week the bank said it would close 44 branches and lay off 750 staff by July. Its Irish intermediary business, which sells [...]
LISTED PRODUCT NEWS March 3, 2010 COMMODITY EXPOSURE Investors can get easy access to a wide range of global ETF products courtesy of iShares. The provider now offers ETFs on the MSCI South African, Australian and Canadian stock indices. All of these countries have large quantities of natural resources, and using ETFs to trade their local stock indices is a good [...]
LISTED PRODUCT NEWS March 3, 2010 COMMODITY EXPOSURE Investors can get easy access to a wide range of global ETF products courtesy of iShares. The provider now offers ETFs on the MSCI South African, Australian and Canadian stock indices. All of these countries have large quantities of natural resources, and using ETFs to trade their local stock indices is a good [...]
CITY MOVES | WHO’S SWITCHING JOBS March 23, 2010 Ernst & Young Dawn Aloof has joined EY from rival PricewaterhouseCoopers, to lead its Europe, Middle East, India and Africa (EMEIA) financial services transaction integration practice. Aloof also previously spent 15 years at Barclays, where she was responsible for clients’ global operating strategy, planning and M&A operations. She is joined by four ex-PwC colleagues: Ari [...]