BP June 2, 2010 THE impact of what initially seemed a human and environmental disaster, but not a business disaster has taken everyone, including BP, by surprise. Since 20 April when the Macondo Well tragedy occurred BP has seen $75bn wiped off its market capitalisation – an absolute market value loss of 39 per cent and unprecedented in corporate [...]
JP Morgan Securities settles with the SEC over Jefferson County charges November 4, 2009 JP Morgan Securities has agreed to pay $75m (£45m) to settle charges in an unlawful payment scheme in the sewer financing of Jefferson County, the Securities and Exchange Commission (SEC) said yesterday. The agency said JP Morgan Securities will pay a penalty of $25m and pay the Alabama county, which includes the city of Birmingham, [...]
Banks publish data for dark pool trading May 24, 2010 SIX big investment banks have published trading volumes for their “dark pools” for the first time, showing them as a tiny fraction of the market, not the major hidden rivals to stock exchanges that some argue. Citi, Credit Suisse, Deutsche Bank, JP Morgan Cazenove, Morgan Stanley and UBS together executed €596m (£512m) of equity trades [...]
FTSE rises for fourth day in a row as miners offset a sharp decline for BP June 14, 2010 BRITAIN’S top share index closed higher yesterday for a fourth straight day, led by miners buoyed by firmer metals prices and offsetting a sharp fall in BP. The FTSE 100 index closed up 38.45 points, or 0.7 per cent, at 5,202.13, its highest close since 3 June. Mining stocks added the most points to the [...]
City Moves | who’s switching jobs Edited June 14, 2010 Future Capital Partners The investment boutique has hired Tim West as its new deputy chief executive. West joins from Babcock and Brown, where he was head of the London office and chief operating officer for the Europe, Middle East and Africa region. Prior to that, he held the position of European chief operating officer for [...]
FUND MANAGEMENT NEWS April 13, 2010 FUND MANAGERS MOVE OVERSEAS The prospect of tighter regulation and higher taxes has led to an 80 per cent increase in fund managers’ enquiries about relocation from the UK, according to Laven Partners, the consulting group. The prospect that the fund management industry will be exposed to new rules from the Alternative Investment Fund Management [...]
55 PER CENT BEER BREWER GETS HAMMERED BY ANIMAL ACTIVISTS July 22, 2010 A DOLLOP of mirth for the City yesterday as it emerged that independent brewery BrewDog is up to its record-breaking tricks again. BrewDog, which has twice before held the record for the strongest beer in the world, yesterday unveiled its latest offering, a 55 per cent proof blond ale retailing at £500 a bottle, which [...]
55 PER CENT BEER BREWER GETS HAMMERED BY ANIMAL ACTIVISTS July 22, 2010 A DOLLOP of mirth for the City yesterday as it emerged that independent brewery BrewDog is up to its record-breaking tricks again. BrewDog, which has twice before held the record for the strongest beer in the world, yesterday unveiled its latest offering, a 55 per cent proof blond ale retailing at £500 a bottle, which [...]
JP Morgan traders lift its earnings October 13, 2009 JP MORGAN Chase will today report third quarter earnings significantly above last year, as strong trading in its investment banking operations offsets rising loan losses. Analysts are expecting the bank to report quarterly earnings of $0.49 per share, well above the $0.11 per share seen in the same period of last year, due to a [...]
HSBC trains bids to come today April 14, 2010 HSBC is preparing for a flood of bids today as it looks to shed its train leasing business, which owns roughly one-third of the UK’s rail rolling stock and is expected to be valued at £2bn. One of the bidders is a consortium of 3i Infrastructure, Star Capital and Morgan Stanley’s infrastructure fund. Others include [...]