HSBC set to buy Nedbank in £3bn deal August 22, 2010 HSBC is poised to beat off competition from rival Standard Chartered to snap up a controlling stake in South African bank Nedbank this week for $4.4bn (£2.83bn). HSBC is understood to be on the verge of defeating emerging markets specialist Standard Chartered to acquire what may be the last big South African bank that regulators [...]
RBS reveals five highest paid bankers earn total of £20m March 17, 2011 RBS’ highest-paid bankers were named yesterday as it revealed it paid five top-ranking employees a total of more than £20m last year. RBS originally published its biggest pay awards anonymously as part of the Project Merlin deal with the government but staff members could be identified from analysis of its stock market filings. RBS said [...]
RBS reveals five highest paid bankers earn total of £20m March 17, 2011 RBS’ highest-paid bankers were named yesterday as it revealed it paid five top-ranking employees a total of more than £20m last year. RBS originally published its biggest pay awards anonymously as part of the Project Merlin deal with the government but staff members could be identified from analysis of its stock market filings. RBS said [...]
ICB has to strike a difficult balance April 10, 2011 With such a broad mandate to recommend how to promote greater financial stability and competition within UK banking, the Independent Commission on Banking has a wide range of options to choose from. And while the level of concern within UK-based banks is understandable, it is important to remember that the paper is merely an interim [...]
China’s factory output rises April 1, 2011 Chinese factories raised production modestly in March while cost inflation slowed, early signs that it has had some success in taming prices through monetary policy tightening. Two surveys of China’s vast manufacturing sector showed factories growing moderately rather than booming, and some economists said a further slowdown could be in store. Yet few thought slackening [...]
Broker team buys its way out of Brewin February 15, 2011 THE CORPORATE advisory and broking team of financial services group Brewin Dolphin has bought its way out of the company to set up a new firm. The asset manager agreed to sell the unit, which sees the departure of 55 professionals, in a deal worth £5m. The team has now established a joint venture with [...]
Broker team buys its way out of Brewin February 15, 2011 THE CORPORATE advisory and broking team of financial services group Brewin Dolphin has bought its way out of the company to set up a new firm. The asset manager agreed to sell the unit, which sees the departure of 55 professionals, in a deal worth £5m. The team has now established a joint venture with [...]
Sports Direct in clear after fraud probe March 9, 2011 Sports Direct, Britain’s biggest sporting goods retailer, said none of its employees were under investigation by the Serious Fraud Office as it detailed a £220m refinancing. “We can confirm that no individuals connected to Sports Direct International are under investigation,” the firm, controlled by Newcastle United soccer club owner Mike Ashley, said on Wednesday. In [...]
Investors in SANE states: keep calm and carry on February 17, 2011 AT the start of the year, investment opportunities seemed aplenty for those seeking exposure to Africa. The London Stock Exchange announced that the HSBC MSCI South Africa ETF, launched yesterday, brought the total number of London-listed exchange-traded funds (ETFs) based on emerging market indices to 75. South Africa, Algeria, Nigeria and Egypt find themselves following [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 22, 2011 FINANCIAL TIMES HSBC PROPOSES PAY SHAKE-UP HSBC is sounding out its shareholders on a proposed shake-up of its executive pay plans, which could see its top bankers unable to sell their stock until retirement. Driven by John Thornton, chairman of the bank’s remuneration committee and a former Goldman Sachs executive, the plans would see top [...]