Four banks in Italian fraud trial March 17, 2010 DEUTSCHE Bank, JP Morgan Chase, UBS and Germany’s Depfa Bank have been called to stand trial in Italy over a complex derivatives deal with Milan which was designed to reduce interest payments on a €1.68bn (£1.5bn) bond issued by the city. The outcome of the trial will prove crucial in determining whether the flood gates [...]
BEST OF THE BROKERS March 17, 2010 ASTRAZENECA Panmure reiterates its “buy” stance on AstraZeneca saying the company’s emerging markets review was comprehensive and makes Panmure more comfortable in its investment thesis. It highlights the key guidance as AstraZeneca’s assertion that it would attain some 25 per cent of its revenues from emerging markets by 2014. This calculation alone justifies a “buy” rating [...]
CITY MOVES | WHO’S SWITCHING JOBS May 12, 2010 Matrix Group The financial services business has appointed Tiraneh Tehranchian as its new head of risk. Tehranchian joins from Man Global Strategies, part of Man Investments, where she has held the position of head of risk for the past five years. Prior to that, she was a risk manager at Abbey National Treasury Services and [...]
S&P soars through 1,200 as JPMorgan results cheer April 14, 2010 US stocks notched a fifth straight day of gains as stronger corporate results and March retail sales pushed the S&P 500 past 1,200 for the first time in 18 months. Dow components Intel and JPMorgan Chase paced the market after both posted strong results. JP Morgan was up four per cent on the Dow to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 6, 2010 FINANCIAL TIMES CROP SQUEEZE TO LIFT ORANGE JUICE PRICE The price of orange juice will rise in coming months as Brazil’s citrus crop, the world’s largest, sees its worst harvest in seven years because of bad weather and diseases, according to Cutrale of Brazil, the leading orange juice producer. Orange juice is a $20bn industry [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 6, 2010 FINANCIAL TIMES CROP SQUEEZE TO LIFT ORANGE JUICE PRICE The price of orange juice will rise in coming months as Brazil’s citrus crop, the world’s largest, sees its worst harvest in seven years because of bad weather and diseases, according to Cutrale of Brazil, the leading orange juice producer. Orange juice is a $20bn industry [...]
Governance issues could mar Essar IPO April 8, 2010 LONDON scored a coup as Indian industrial giant Essar yesterday said it would list its energy business on the Stock Exchange, though concerns rippled through the market over the extent of the subsidiary’s independence from its powerful parent. Essar said it would float between 20 to 25 per cent of the energy division Essar Energy [...]
Chloride rejects £723m bid April 26, 2010 Chloride Group yesterday rejected a new £723m cash offer from suitor Emerson Electric. It was urged by a string of major shareholders to hold out for a significantly higher bid from the US industrials group. Emerson gave the power protection firm only two days to respond to its 275p-a-share cash proposal over the weekend before [...]
Greek rescue deal will spur markets April 11, 2010 UK and European stock markets are heading for a cautiously positive start to the week, spurred on by the news that a rescue package for Greece has been approved. GFT is quoting the FTSE 100 index to open up 10 points from Friday’s close, at a level of 5,780. The German DAX is also expected [...]
FSA charges seven with insider trading March 31, 2010 SEVEN men have been charged by the Financial Services Authority (FSA) on 13 counts of conspiracy to deal on inside information, while the regulator has issued a warrant for the arrest of an eighth individual in connection with the case. Ali Mustafa, Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah, Truptesh Patel and Mitesh Shah [...]