The carry trade evolves September 21, 2010 IN A world where quantitative easing remains firmly on the agenda and investors are going after any yield available, the carry trade remains alive and well. Further accommodative monetary policy in Japan has driven the resurgence of the yen carry trade – whereby investors fund higher-yielding asset purchases with low-yielding yen. Furthermore, the latest weakening [...]
Brit Insurance shares rocket after it recommends CVC and Apollo takeover September 20, 2010 SHARES in Brit Insurance roared upwards yesterday after it advised shareholders to accept an £850m joint offer from buyout firm CVC Capital Partners and original bidder Apollo. Brit closed up 4.1 per cent at £10.28 yesterday as the markets reacted to news of the joint bid on Friday. The price values the listed element of [...]
FTSE closes flat as Monday’s zeal for banks wanes and energy firms recover August 3, 2010 BRITAIN’S top shares ended steady yesterday as strength in oils offset falls in banks following weaker-than-expected US data that stoked concern about the strength of the economic rebound. The FTSE 100 closed down 0.63 point at 5,396.48 following a 2.7 per cent gain on Monday to a three-month closing high. “Weak US data in the [...]
European bank stress tests were too soft, analysts say July 25, 2010 LONDON’S stockmarket will give its verdict on the European Union’s bank stress tests today after analysts warned they were not tough enough to give investors real confidence. Only seven of the 91 institutions investigated failed to meet the capital requirements demanded by the Committee of European Banking Supervisors under three “economic shock” scenarios. Five Spanish [...]
EC rules to hit UK companies August 16, 2010 INSTITUTIONS including Lloyds Banking Group and Royal Bank of Scotland will be hit by an overhaul of European rules giving regulators greater powers over combined banking and insurance groups. The European Commission (EC) yesterday put forward plans to tighten oversight of “financial conglomerates”, defined as firms that lend and provide cover across multiple European states. [...]
EC rules to hit UK companies August 16, 2010 INSTITUTIONS including Lloyds Banking Group and Royal Bank of Scotland will be hit by an overhaul of European rules giving regulators greater powers over combined banking and insurance groups. The European Commission (EC) yesterday put forward plans to tighten oversight of “financial conglomerates”, defined as firms that lend and provide cover across multiple European states. [...]
Gartmore on the block as star resigns November 8, 2010 GARTMORE yesterday said its star manager Roger Guy had resigned and the firm put itself up for sale, firing the starting gun for rivals to cut a deal before heavy outflows damage the group irrevocably. Goldman Sachs has been appointed to examine the options for the firm, which chief executive Jeffrey Meyer said would include [...]
HSBC names Boyles as new European boss January 25, 2010 HSBC has appointed Peter Boyles to a new role as chief executive for continental Europe, where the traditionally Asia-focused institution said it saw “considerable opportunity”. Boyles, the head of the bank’s French operations and a 35-year veteran of HSBC, will lead a new Paris-based team responsible for businesses in 26 countries across continental Europe, including [...]
Standard Chartered turns record profit August 4, 2010 STANDARD Chartered beat expectations with record half-year profits of $3.12bn (£1.96bn) as bad debts more than halved and its key Asian markets fared better than those in the west. Standard Chartered said its pre-tax profit for the first six months of the year was up ten per cent from last year, and came in just [...]
Standard Chartered turns record profit August 4, 2010 STANDARD Chartered beat expectations with record half-year profits of $3.12bn (£1.96bn) as bad debts more than halved and its key Asian markets fared better than those in the west. Standard Chartered said its pre-tax profit for the first six months of the year was up ten per cent from last year, and came in just [...]