Consortium becomes third-biggest UK rolling stock leasing company November 4, 2010 A CONSORTIUM made up of investment bank Morgan Stanley and private equity houses 3i Infrastructure and Star Capital has bought HSBC’s train rolling stock unit, Eversholt Rail Group, for £2.1bn. The deal took five months of talks before it came to fruition. The new consortium, which is named Eversholt Investment Group, immediately becomes one of [...]
UK banks sign up to tax code November 30, 2010 IN A last minute scramble the UK’s 15 largest banks have signed up to a government code of practice aimed at reducing tax avoidance, deputy prime minister Nick Clegg said yesterday. The code, which had a deadline of 30 November, but until October had only been supported by four of the 15, requires the banks [...]
How to rob your bank January 19, 2011 SANTANDER has brought back its switching deal, giving new customers £100 when they move their main current account to its offering which pays 5 per cent interest for the first year. However, the bank has been voted worst for customer service in a string of surveys by organisations including Moneywise, MoneySavingExpert.com and consumer group Which? [...]
CITY MOVES | WHO’S SWITCHING JOBS December 22, 2010 KKR Kaveh Samie is joining KKR as managing director and head of Middle East and North Africa to support the firm’s growth strategy in the region. Previously, Samie was a managing director and head of equities for HSBC Middle East & North Africa. The appointment takes effect from 6 January 2011. Samie will work closely [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 2, 2011 FINANCIAL TIMES LLOYDS DROPS MORTGAGE BROKERS OVER SUSPECTED FRAUD Concerns over suspected fraud have prompted Lloyds Banking Group to cull the list of brokers it allows to sell its mortgages. The UK’s largest mortgage lender has removed some 900 individuals over the past four years from its “approved panel” of brokers, including 300 in the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 2, 2011 FINANCIAL TIMES LLOYDS DROPS MORTGAGE BROKERS OVER SUSPECTED FRAUD Concerns over suspected fraud have prompted Lloyds Banking Group to cull the list of brokers it allows to sell its mortgages. The UK’s largest mortgage lender has removed some 900 individuals over the past four years from its “approved panel” of brokers, including 300 in the [...]
Good news boosts FTSE to 2008 levels January 12, 2011 BANKS and miners dominated the FTSE today, leading the index to another 31-month high as good news from Portugal’s bond sale boosted financial stocks, and miners tracked metals prices higher. Four FTSE 250 companies also posted double-digit gains as news that Gartmore agreed a £335.3m takeover deal by rival Henderson sent their shares higher. The [...]
Good news boosts FTSE to 2008 levels January 12, 2011 BANKS and miners dominated the FTSE today, leading the index to another 31-month high as good news from Portugal’s bond sale boosted financial stocks, and miners tracked metals prices higher. Four FTSE 250 companies also posted double-digit gains as news that Gartmore agreed a £335.3m takeover deal by rival Henderson sent their shares higher. The [...]
Euro zone confidence on the up January 6, 2011 Euro zone economic sentiment jumped to a 38-month high in December pointing to healthy growth in the last quarter of 2010, but also to a growing divergence between core and peripheral euro zone countries. A monthly survey by the European Commission showed the economic sentiment in the 16 countries using the euro in December rose [...]
Euro zone confidence on the up January 6, 2011 Euro zone economic sentiment jumped to a 38-month high in December pointing to healthy growth in the last quarter of 2010, but also to a growing divergence between core and peripheral euro zone countries. A monthly survey by the European Commission showed the economic sentiment in the 16 countries using the euro in December rose [...]