CITY VIEWS: HAVE THE AVIATION AUTHORITIES OVER-REACTED? April 19, 2010 RICHARD TAYLOR | WATKINS SYNDICATE “Yes they are over-reacting. The airlines are already doing test flights, which have been fine. The stoppage is disruptive to a large extent, and is slowing business down. Some companies are saying they might go bankrupt as a result.” JAMES SPENCER | ANGLO IRISH BANK “They have not over-reacted because [...]
Growth concerns and inflation cause a three-way split October 6, 2010 FOR the second consecutive month, a three-way split has emerged among City A.M.’s Shadow Monetary Policy Committee (MPC) members ahead of the Bank of England’s policy announcement scheduled for midday today. Two members voted for an increase in interest rates of 0.25 per cent while two others thought the time had come to extend quantitative [...]
THE TIPSTER September 20, 2010 BP’S NEWS that the Macondo well in the Gulf of Mexico has finally been completely capped came as welcome news. The stock has responded well, rising over 1 per cent in early trade yesterday. This could be an opportunity for the oil giant to draw a line under the catastrophe and hopefully regain some of [...]
Lloyds gives Crystal Palace crucial lifeline June 1, 2010 THE survival of championship football club Crystal Palace appeared more likely yesterday after a last- minute deal saved it from the threat of liquidation. A life-saving agreement to sell the club’s stadium to a consortium bidding to own both that and the club itself was clinched mid-afternoon. The deal, which seemed like it might be [...]
Markets in turmoil May 25, 2010 SHARES worldwide plunged yesterday as fears that Europe’s sovereign debt crisis would lead to a fresh collapse in the banking sector, and rising tensions between North and South Korea took their toll on jittery investors. The FTSE 100 index plummeted, ending the day 2.5 per cent lower at 4,940.68, below the psychologically important 5,000 level [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2010 FINANCIAL TIMES LEHMAN CREDITORS GET A LIFT AFTER $620M OF ASIAN ASSETS ARE SOLD The Hong Kong-based liquidators of Lehman Brothers’ Asian operations have sold $620m (£420m) of the failed investment bank’s portfolio of loans, bonds and equity positions in the region. The transactions, which achieved an average recovery rate of 100 per cent, mark [...]
FTSE falls on uncertainty over Greek debt, government and Chinese inflation May 11, 2010 BRITAIN’S top share index fell yesterday as concerns over the Eurozone’s rescue package, monetary tightening in China and political uncertainty in the UK hit investor sentiment. The FTSE 100 index closed down 53.21 points, or 1 per cent, at 5,334.21, having gained 5.2 per cent on Monday after an emergency rescue package from the European [...]
Battersea Power Station owner agrees loan break October 11, 2010 REAL Estate Opportunities (REO), the owner of London’s iconic Battersea Power Station, has announced it has won a reprieve from its creditors while it finds an outside investor. Note holder Oriental Property, which used to own the site, and other creditors have agreed to give the site a payment holiday on bonds worth in the [...]
Lloyds chews over possible joint venture with independent broker April 11, 2010 LLOYDS Banking Group is mulling over the possibility of a tie-up with one of the City’s independent brokers, in order to beef up its equity capital markets (ECM) capabilities. The bank previously hired key executives from the broking sector to expand its ECM desk, which has only a tiny share of the overall market. Lloyds [...]
CITY MOVES | WHO’S SWITCHING JOBS September 27, 2010 London Stock Exchange The exchange has named Paolo Scaroni (pictured), the chief executive of Italian oil and gas group Eni and one of its non-executive directors, as its new deputy chairman. The LSE also said Massimo Tononi has joined the board as a non-executive director. Tononi was a partner at Goldman Sachs until July this [...]