EFG-Hermes plays down stake in its subsidiary held by Gamal Mubarak February 14, 2011 EGYPTIAN investment bank EFG-Hermes has said that Gamal Mubarak’s stake in the bank was limited to an 18 per cent holding in a subsidiary, EFG Private Equity. Last week opposition Wafd newspaper said Gamal, son of ousted President Hosni Mubarak, had extensive holdings in the investment bank through foreign investment funds. “EFG-Hermes Financial Group Holding [...]
LISTED PRODUCT NEWS September 8, 2010 WORLD’S FIRST EURO HIGH YIELD BOND ETF BlackRock’s exchange-traded funds (ETF)?platform iShares has launched the world’s first Euro High Yield Bond ETF. The fund tracks the performance of the Markit iBoxx Euro Liquid Corporates Index. The index uses multiple pricing sources for inclusion and is based on an average of the classifications allocated to each [...]
A PAT ON THE BACK FOR YEAR’S BEST ASSET MANAGERS October 13, 2010 TO THE glamorous surroundings of the Banqueting House on Whitehall last night for the annual Financial News asset management awards, where the most successful industry players of the year lined up to collect their respective gongs. Taking the top spot in the European asset management firm of the year category, one of the most coveted [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
Credit Suisse expands into UK ETF market September 15, 2010 COMPETITION in the exchange-traded fund (ETF) market stepped up another notch yesterday when Swiss bank Credit Suisse launched 45 ETFs on the London Stock Exchange (LSE), solidifying its European presence and paving the way for a global launch of its ETF product. For the past decade, new arrivals in the European ETF space have been [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 13, 2010 FINANCIAL TIMES F&C OPPOSES US POLITICAL DONATIONS BY NEWS CORPORATION F&C, the UK asset manager, will vote against the re-election of News Corp’s audit committee chairman at its upcoming annual meeting on Friday over the media group’s million-dollar political donations to the Republican Governors Association and the US Chamber of Commerce.“We are concerned to see [...]
Betfair to launch its own trading system August 15, 2010 ONLINE gambling group Betfair is gearing up to launch a trading platform in London later this year, becoming the latest in a line of companies to compete with the London Stock Exchange. Following approval from the FSA at the end of July, developers are working to complete the platform based on Betfair’s existing gambling programmes, [...]
LSE boss: help me protect the city September 14, 2010 THE London Stock Exchange’s boss last night called on those involved in the capital raising business to back his campaign against proposed new rules he fears could “severely” impact London’s competitiveness. There are growing fears that the new rules could chase capital raising out of London, robbing the City of much-needed income and jobs. Xavier [...]
SuperGroup profit soars July 15, 2010 FASHION retailer SuperGroup’s full-year pre-tax profit soared to £22.46m from £7.59m last year. Group revenue for the 52 weeks ended May 2, 2010 was up 83.1 per cent to £139.4m from £76.14m in the comparable period. The surge has been fuelled by the company’s Superdry label which has been sported by a host of celebrities [...]
Redhall in £16m bid for Mount September 22, 2010 BRITISH engineering support services firm Redhall yesterday announced it had made an offer to buy rival Mount Engineering for around £16.4m to expand into international energy markets. Redhall, which caters to the nuclear, oil and gas, food, defence, safety and security and transport infrastructure sectors, has irrevocable undertakings or letters of intent from 45 per [...]