THE LONDON REPORT November 9, 2009 BRITAIN’S top share index hit its highest closing level in more than two weeks yesterday as the G20’s pledge to keep stimulus in place bolstered investors’ risk appetite, with miners and oil stocks leading the charge. The FTSE 100 closed up 92.46 points, or 1.8 per cent, at 5,235.18, the highest close since 23 October, [...]
EC competition watchdog has term extended October 11, 2009 NEGOTIATIONS between the UK’s part state-owned banks and the Treasury over use of the Asset Protection Scheme (APS) look set to be prolonged after EU competition commissioner Neelie Kroes’s term was extended. Kroes, the European Commission’s competition watchdog, had been set to deliver a ruling on how Lloyds Banking Group and Royal Bank of Scotland [...]
THE LONDON REPORT November 30, 2009 BRITAIN’S leading share index shed 1.1 per cent yesterday, ending at session lows, dragged back by weakness in oil majors and banks on lingering anxiety over the impact of Dubai’s debt problems. By the close, the FTSE 100 was down 55.05 points at 5,190.68, its lowest closing level for three weeks. The blue chip index [...]
British Airways and Iberia merger sends FTSE soaring November 12, 2009 BRITAIN’S FTSE 100 hit its highest close in three weeks yesterday as British Airways soared with investors cheered as a merger with Iberia looked imminent, while gains were also powered by strength in banks. But the rise was limited by falls in commodity prices hitting miners and energy stocks, which together constitute a third of [...]
CITY A.M. TOASTS A NEW ERA IN ALLIANCE WITH INTERACTIVE INVESTOR December 14, 2009 IT WAS off to the iconic Gherkin building last night for one of the most exciting developments in the history of City A.M. – our newly-announced alliance with online financial services provider Interactive Investor. Guests at the party sipped champagne as they admired the view over the City, chatting about the partnership, under which we [...]
Reassurance on UK growth boosts the blue chip index November 11, 2009 BRITAIN’S top share index closed higher yesterday, as risk appetite received a boost after reassuring signals on the UK economy, and with miners the biggest gainers after a jump in Chinese factory growth. The FTSE 100 index ended 36.20 points higher, or 0.7 per cent, at 5,266.75, having touched a high of 5,301.14 earlier in [...]
RBSset to appoint new non-executive directors as it looks to beef up board October 1, 2009 ROYALBANKOF SCOTLAND (RBS) is set to announce that two new independent directors are joining its board today, as it seeks to improve its capital position. The appointment of Philip Scott, ex-finance director at insurer Aviva, and Penny Hughes, who was head of UK and Ireland for Coca-Cola, into non-executive positions is expected today. The move [...]
BALANCING ACT November 4, 2009 UK FINANCIAL Investments (UKFI) boss John Kingman yesterday warned the agency was “walking a tightrope” as it attempted to limit bonus payments while avoiding an exodus of talent at Britain’s bailed out banks. The public was “understandably angry” at fat cat bonus payments, said Kingman, the departing chief executive of the body managing the government’s [...]
Alpha Bank joins cash call run October 19, 2009 Alpha Bank, Greece’s third largest lender, will issue new shares and repay almost €1bn (£914m) of state support in a move to cut ties with government and resume paying dividends. A three-for-10 rights issue will raise €986m to redeem €940m of preferred shares the bank sold the government earlier this year. The deal is expected [...]
SOVEREIGN SCORES A COUP AS IT NETS BANK GRANDEE BOB WIGLEY December 16, 2009 MY MY , but hasn’t it been an eventful few months for Aim-listed home equity release firm Sovereign Reversions? Back in August, Countrywide chairman Harry Hill and a couple of fellow dissident shareholders caused a touch of controversy by trying to oust Sovereign’s board and put the company into run-off by sending out pre-ticked proxy [...]