Lloyds stalls on dividend June 8, 2009 LLOYDS Banking Group will not resume dividend payments to shareholders this year, despite freeing itself of £480m a year in interest payments by redeeming £4bn in government-held preference shares. The bank confirmed yesterday that it had sold 87 per cent of a £4bn share placing to existing shareholders at 38.43p, with a 13 per cent [...]
CITY MOVES WHO’S SWITCHING JOBS May 13, 2009 Frontier IP GroupTim Cockroft, chief executive of broker Singer Capital Markets, has joined the board of the university IP commercialisation specialist as a non-executive director. Cockroft was formerly chief executive of KBC Peel Hunt. In 2006, he became head of capital markets at Kaupthing, owner of Singer & Friedlander, and bought back the business from [...]
CITY MOVES WHO’S SWITCHING JOBS May 13, 2009 Frontier IP GroupTim Cockroft, chief executive of broker Singer Capital Markets, has joined the board of the university IP commercialisation specialist as a non-executive director. Cockroft was formerly chief executive of KBC Peel Hunt. In 2006, he became head of capital markets at Kaupthing, owner of Singer & Friedlander, and bought back the business from [...]
CITY MOVES WHO’S SWITCHING JOBS May 26, 2009 PricewaterhouseCoopersThe business advisory firm has appointed Ashley Unwin as head of its performance improvement consulting practice. Unwin joins from Terra Firma Capital Partners. Until recently, he was acting chief operating officer for EMI Music in North America and chief executive officer for EMI Music in the UK and Ireland. Prior to that, he was a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 5, 2009 THE SUNDAYSThe Sunday TelegraphPRU ENSURES CHANGES TO CAZENOVE RESEARCHJP Morgan Cazenove has rewritten a piece of research about Prudential that initially made a string of adverse comments about the insurer’s accounting procedures. The research note is understood to have made disparaging remarks about reporting decisions taken by Tidjane Thiam, set to take over as chief [...]
Monica Ali’s Brick Lane follow-up never really reaches boiling point May 13, 2009 ONE of the most famous books to come out of the boom of the Eighties was Barbarians at the Gate. In this book, it seems that the nerds have taken over from Conan and his chums. In fact, the subtitle of the book makes it clear that greed was to blame – politicians and central [...]
Banks shrug off McDonald’s and Apple worries June 8, 2009 US stocks rebounded late yesterday to end flat, shrugging off lighter-than-expected sales from McDonald’s and lowered iPhone prices from Apple. The three major US stock indexes had fallen more than 1 per cent before rallying in the last hour of trading, led by bank shares. Analysts pointed to the S&P 500’s recent piercing of its [...]
Ross buys into Big Yellow’s share placing May 18, 2009 SELF-storage company Big Yellow Group said yesterday it successfully completed a £32.9m share placing to exploit low property market prices and fund the development of several new sites. The group said it placed 11.5m new shares at 285p, a 5.6 per cent premium to Friday’s closing share price and a sharp contrast to the deeply-discounted [...]
Ross buys into Big Yellow’s share placing May 18, 2009 SELF-storage company Big Yellow Group said yesterday it successfully completed a £32.9m share placing to exploit low property market prices and fund the development of several new sites. The group said it placed 11.5m new shares at 285p, a 5.6 per cent premium to Friday’s closing share price and a sharp contrast to the deeply-discounted [...]
CITY MOVES WHO’S SWITCHING JOBS June 2, 2009 DeloitteThe business advisory firm has appointed Anne Hamilton to lead its insurance tax team. Hamilton was previously a tax partner at rival PricewaterhouseCoopers. “In light of Solvency II we anticipate that there will be considerable restructuring work to make sure that insurance companies’ balance sheets have capacity,” said Deloitte head of UK insurance Mark Fitzpatrick. [...]