Market calm on bank tests July 26, 2010 EUROPEAN lenders’ credit default swap (CDS) spreads narrowed and the euro was steady yesterday as the market gave a mild thumbs-up to the region’s bank stress test results. The cost of insuring against default on debt issued by key banks fell after the Committee of European Banking Supervisors (CEBS) said just seven of 91 institutions [...]
Luminar seals new £99m finance deal from banks to keep business moving December 9, 2010 NIGHTCLUB business Luminar yesterday confirmed a £99m injection from banks. The owner of the Oceana and Liquid club brands has signed a three-year loan deal with Lloyds, Barclays and Royal Bank of Scotland. The money should give it some breathing space to pay down debts and see if the new strategy from chief executive Simon [...]
Banks support FTSE amid broad-based gains January 11, 2011 LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded. Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03. It ended a three-day losing streak and stayed ahead of the 6,000 [...]
Banks support FTSE amid broad-based gains January 11, 2011 LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded. Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03. It ended a three-day losing streak and stayed ahead of the 6,000 [...]
CITY A.M. | SHADOW MPC January 12, 2011 ALLISTER HEATH | CITY A.M “The recovery is still on track, despite the effects of December’s winter freeze. With inflation set to hit four per cent in the coming months, rates must be normalied before it is too late.” SIMON WARD | HENDERSON “Raise by 0.5 per cent. A rate hike last summer would have [...]
Greenpeace launches a London protest as closes almost 50 petrol stations July 27, 2010 GREENPEACE launched an attack on BP yesterday after shutting down 46 out of the group’s 50 petrol stations in central London. The environmental group said that it had sent more than 50 activists to shut off the power at petrol stations through out the capital in the early hours of yesterday morning to coincide with [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
finance boss in the wars after hitler gag August 16, 2010 AS A hack, it gets frustrating to be confronted with a deafening silence when asking any financier to stand up and publicly defend the industry against politically-motivated attacks – especially when the same hotshots are perfectly happy to shoot their mouth off when cornered in private. But, refreshing as it is to find an exception [...]
THE TIPSTER August 2, 2010 HIGH street retail giant Next releases its latest trading statement tomorrow and the statement should give some insight into whether the company feels that the man on the street is more optimistic than he was six months ago or if concern about government cuts is still curbing our spending at the tills. Next had a [...]
UK stocks sag after gloomy news from Bank of England August 11, 2010 BRITAIN’S top share index fell sharply to a three-week low closing yesterday, with banks and commodity stocks leading a broad-based sell-off after US and UK central banks voiced concerns over the economic recovery. Technology firm Smiths Group, however, topped the list of a handful of gainers, up 3.9 per cent as traders cited break-up hopes [...]