Patience is the key to reap the rewards from the Asian tiger June 30, 2010 THE Asian tiger may have lost some of its growl with the US Conference Board cutting its growth forecast for China just two days ago, but Standard Chartered is betting on a revival. This agreement is StanChart’s first significant partnership with a big Chinese lender and brings the UK-based bank into line with global rivals [...]
Dramatic recovery for Britain’s banks August 1, 2010 BANKS will come under renewed pressure to extend credit to small businesses this week as the UK’s five largest lenders reveal combined pre-tax profits of nearly £12bn. With the stronger players returning to pre-financial crisis levels of success, a fresh row is brewing between politicians – who are demanding more finance for enterprises – and [...]
Taylor Wimpey refinancing in a bid to beef up land purchases July 11, 2010 HOUSEBUILDER Taylor Wimpey has returned to the negotiating table with lenders, in a bid to access funding for land purchases. The company, which completed a £1.55bn debt restructuring last year, now wants to refinance its bonds and bank loans, according to the Financial Times. Although the firm’s repayments on debts are not due until July [...]
Taylor Wimpey refinancing in a bid to beef up land purchases July 11, 2010 HOUSEBUILDER Taylor Wimpey has returned to the negotiating table with lenders, in a bid to access funding for land purchases. The company, which completed a £1.55bn debt restructuring last year, now wants to refinance its bonds and bank loans, according to the Financial Times. Although the firm’s repayments on debts are not due until July [...]
Santander scoops 318 RBS branches after £4.5bn boost August 4, 2010 SPANISH giant Santander fired a warning shot across the bows of UK lenders yesterday, agreeing to buy 318 branches from Royal Bank of Scotland and preparing to reshuffle its global operations. Santander will become the fourth-largest bank on the high street after it takes over the outlets from RBS for £1.7bn. The deal, due to [...]
Barclays hires bankers for Asia business July 13, 2010 BARCLAYS has hired six senior bankers in Singapore for its wealth management business, including Soh Chye Guan from HSBC, as it seeks to tap into growing numbers of high net worth individuals in Southeast Asia. The move comes after the bank, which managed £151.2bn globally under its wealth management arm Barclays Wealth, poached three senior [...]
Barclays hires bankers for Asia business July 13, 2010 BARCLAYS has hired six senior bankers in Singapore for its wealth management business, including Soh Chye Guan from HSBC, as it seeks to tap into growing numbers of high net worth individuals in Southeast Asia. The move comes after the bank, which managed £151.2bn globally under its wealth management arm Barclays Wealth, poached three senior [...]
Let’s stop whining about tight credit August 2, 2010 How unfair. I have a great idea for a new website but my bank doesn’t want to lend me the £50m I need to start it up. It claims not to like my business plan but that can’t possibly be right. What can I do? Oh, I know, I’ll tell my MP. It’s perfect timing: [...]
ICBC eyes £889m spend to take Hong Kong unit private August 10, 2010 Industrial and Commercial Bank of China (ICBC), the world’s most valuable bank, yesterday said it will pay shareholders of its Hong Kong arm a 27 per cent premium to take it private, as part of an effort to expand its presence there. Each ICBC (Asia) shareholder would receive HK$29.45 (£2.4) per share, ICBC said in [...]
CITY MOVES | WHO’S SWITCHING JOBS August 23, 2010 Future Group The media business has appointed former ITN chief executive Mark Wood as chief executive of its UK business. Wood, who stood down from ITN last year, has been a non-executive director at Future since April 2009. He will leave the board on taking up his new post at the end of the month. [...]