FTSE flat after Slovak vote blow October 12, 2011 The FTSE 100 was flat this morning after Slovak lawmakers rejected a plan to expand the Eurozone rescue fund and the US earnings season kicked off with disappointing results. Slovakia’s decision rattled world markets as the plan — which would see Greece saved from economic abyss through new loans — is central to hopes that [...]
Banks in sigh of relief over Vickers rules September 28, 2011 JOHN Vickers has privately reassured Britain’s biggest banks that they will not need to issue billions in complex new debt instruments to comply with his recommendations. City A.M. understands that several anxious lenders sought informal clarification from Vickers’ Independent Commission on Banking (ICB) recently and were told definitively that they will not have to invent [...]
Banks in sigh of relief over Vickers rules September 28, 2011 JOHN Vickers has privately reassured Britain’s biggest banks that they will not need to issue billions in complex new debt instruments to comply with his recommendations. City A.M. understands that several anxious lenders sought informal clarification from Vickers’ Independent Commission on Banking (ICB) recently and were told definitively that they will not have to invent [...]
FTSE tumbles on bank fears September 5, 2011 THE FTSE shed £49bn yesterday after slumping to a loss of nearly four per cent, with investors spooked by a barrage of bad news. RBS dragged the index down, falling 12 per cent on the news it is being sued by the US Federal Finance Housing Agency (FHFA) over allegations it misled buyers of mortgage portfolios [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 11, 2011 FINANCIAL TIMES JPMORGAN CHIEF SAYS BANK RULES ‘ANTI-US’ New international bank capital rules are “anti-American” and the US should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, has said. In an interview with the Financial Times, Mr Dimon said he was supportive of forcing banks to [...]
Banks granted liquidity boost September 16, 2011 A POTENTIALLY unlimited amount of dollar liquidity is to be injected into banking markets throughout the world, five central banks announced yesterday. It is hoped the measure will boost money markets in the wake of the Eurozone debt crisis. The Bank of England, European Central Bank (ECB), US Federal Reserve, Bank of Japan and Swiss [...]
FTSE solid as Eurozone pledge boosts confidence October 10, 2011 The FTSE 100 opened steadily this morning as investors eyed the news that Franco-Belgian bank Dexia has been rescued while Germany and France pledged to unveil a Eurozone debt crisis plan by the end of the month. German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks in Berlin on Sunday that their [...]
LONDONERS’ CHARM IS A SERVICE FOR WEALTHY October 27, 2011 WHERE THE wealth lies and, more importantly, how to persuade customers to part with it was the theme of the Wealth Summit run by monthly magazine Luxury Briefing in association with City A.M. Master of ceremonies was James Reatchlous, who bought Luxury Briefing from Princess Alexandra’s son James Ogilvy in 2009 before expanding into spin-offs [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 6, 2011 FINANCIAL TIMES GREEK BANKS ISSUE €6.4BN IN BONDS Three of Greece’s biggest banks have issued €6.4bn of government-guaranteed bonds likely to be used as security to obtain financing from central banks, a move that points to worsening market conditions amid talk of a disorderly Greek default. Alpha Bank, EFG and Piraeus on Friday issued the [...]
Alliance sees opportunity in crisis September 19, 2011 THE global debt crisis has a long way to run but has created an opportunity for investors to be “greedy”, the chief executive of Britain’s largest investment trust said yesterday. Katherine Garrett-Cox of Alliance Trust, which runs £2.9bn of assets, criticised the “bailout botox” policy adopted in Europe, and said deleveraging would be a painful [...]