Reed share placing to be unveiled July 29, 2009 BUSINESS and scientific magazine publisher Reed Elsevier is today expected to announce plans for a huge rights issue, as it attempts to reduce its $8.3bn (£5.1bn) debt-pile. The Anglo-Dutch company’s new chief executive, Ian Smith, will unveil plans to raise up to 10 per cent of its value through a share placing, as he announces [...]
Reed share placing to be unveiled July 29, 2009 BUSINESS and scientific magazine publisher Reed Elsevier is today expected to announce plans for a huge rights issue, as it attempts to reduce its $8.3bn (£5.1bn) debt-pile. The Anglo-Dutch company’s new chief executive, Ian Smith, will unveil plans to raise up to 10 per cent of its value through a share placing, as he announces [...]
UKFI close to naming chair July 26, 2009 UK FINANCIAL Investments (UKFI) – the body which manages the government’s stakes in Lloyds Banking Group and Royal Bank of Scotland – will have a new chairman within weeks, sources said yesterday. The Treasury is leading the search for a candidate to chair UKFI and is believed to have placed Sir David Cooksey, a former [...]
EC moves closer to break-up of banks rescued by state aid July 23, 2009 THE prospect of a break-up of Lloyds Banking Group and Royal Bank of Scotland (RBS) moved closer yesterday, after the European Commission (EC) called on banks to present plans to restructure themselves. EC competition commissioner Neelie Kroes said bailed out banks would have to detail their plans to the EC within six months, to prove [...]
Oils and miners bring FTSE higher, while banks also rise August 20, 2009 BRITAIN’S leading share index gained 1.4 per cent as stocks enjoyed a broad-based recovery yesterday, with heavyweight oils and miners in demand as raw material prices rose while financials also rallied. By the close, the FTSE 100 was 66.91 points higher at 4,756.58, having reversed earlier losses to close slightly higher on Wednesday. The UK [...]
UFKI to reveal strategy for exit from stakes in RBS and Lloyds July 12, 2009 UK Financial Investments – the body which manages the government’s stakes in recapitalised banks – will unveil its exit strategy for Royal Bank of Scotland (RBS) and Lloyds Banking Group today. John Crompton, UKFI’s head of market investment, will outline its plans to return the stakes to the public sector at a meeting this morning, [...]
BEST OF THE BROKERS July 21, 2009 CABLE & WIRELESSCable & Wireless maintained guidance at both division and group levels in its first-quarter interim management statement, and Royal Bank of Scotland still considers the equity story one of the most compelling of European telecoms companies. The broker has a “buy” recommendation on the stock, with a target price of 200p. AUTONOMYInvestec believes [...]
THE LONDON REPORT September 1, 2009 THE FTSE 100 shed 1.8 per cent yesterday, dragged back by weakness in banks and commodity issues, fuelling doubts over the sustainability of this summer’s strong rally. At the close, the FTSE 100 was 89.20 points lower at 4,819.70 after ending 0.8 per cent higher on Friday, when it also touched a near 11-month high. [...]
THE LONDON REPORT September 1, 2009 THE FTSE 100 shed 1.8 per cent yesterday, dragged back by weakness in banks and commodity issues, fuelling doubts over the sustainability of this summer’s strong rally. At the close, the FTSE 100 was 89.20 points lower at 4,819.70 after ending 0.8 per cent higher on Friday, when it also touched a near 11-month high. [...]
Eurasian leads the miners higher while Lloyds shines August 19, 2009 THE FTSE 100 share index inched higher yesterday, helped by oil producers, which gained on firmer crude prices as US demand recovered, but banks fell after HSBC traded ex-dividend. The index closed up by 3.89 points, or 0.1 per cent, at 4,689.67, after trading as low as 4,625.44 earlier in the day. Volumes on the [...]