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 [...]
FTSE panics at the off but recovers some of its losses May 7, 2010 The FTSE fell 6.6 points to 5254.36 this morning as investors woke up to the prospect of a hung parliament. Panic on the opening bell caused the blue chip index to lose 100 points but it later recovered. “Sterling has been the worst affected by the news of the hung parliament but there has undoubtedly [...]
Pru pushes on with cash call after FSA deal May 9, 2010 PRUDENTIAL was last night on the verge of thrashing out an emergency compromise with the City regulator, clearing the way for the release of its rights issue prospectus this week. The British insurer is locked in talks with the Financial Services Authority over its capital structure after the planned $35.5bn (£24bn) acquisition of AIA in [...]
Candover attracts bid approach from Alberta Investment April 27, 2010 PRIVATE equity firm Candover Investments said yesterday – after the stock market closed – that it had received an initial approach from a third party to acquire the company, after its fall from grace earlier this year. Candover said any offer was expected to be at a price no higher than its last reported net [...]
CITY MOVES | WHO’S SWITCHING JOBS May 24, 2010 Matrix Group Matrix Group has expanded its investment banking business after appointing Paul James as chief operating officer (COO) of the investment banking arm. James moves into the role with immediate effect and joins after 20 years experience in investment banking. He was most recently COO of global banking and markets HSBC and has previously [...]
Pru moves to rejig AIA bid May 11, 2010 AIG, the US-government owned insurance titan, is close to giving Prudential the thumbs-up to restructure the $35.5bn (£24bn) purchase of its AIA business in Asia. AIG chief executive Robert Benmosche yesterday told employees in New York the deal would go ahead despite the UK regulator’s concerns over the enlarged group’s capital strength. In March, Prudential [...]
Dubai World mints deal on $24bn debts May 20, 2010 SMALL lenders to Dubai World could scupper the conglomerate’s plan to restructure its $23.5bn (£16bn) debt pile, which was provisionally signed off by its core creditors yesterday. A committee of seven key banks, including London-listed HSBC, Royal Bank of Scotland and Standard Chartered, reached an agreement with the Dubai government-owned group “in principle” to defer [...]
Dividends fall at Britain’s biggest firms April 26, 2010 BRITISH companies paid out less in dividends in the first quarter of the year than they did a year ago, according to new data yesterday. A total of £13.6bn in dividends was paid during the first three months of 2010, down 2.5 per cent compared with a year ago, according to Capita Registrars. Heavyweights reducing [...]
FTSE hit by German ban on shorting May 19, 2010 BRITAIN’S top shares fell steeply yesterday, as commodity-linked stocks and banks were hit by Germany’s attempt to stop speculators driving down the euro, bonds and share prices by limiting short-selling. The FTSE 100 closed down 149.26 points, or 2.8 per cent, at 5,158.08, having added 0.9 per cent on Tuesday, as Germany’s move shook markets [...]
EASTERN PROMISE March 1, 2010 HSBC yesterday showed a stronger commitment to emerging markets than ever before, as it revealed that Asia Pacific takings accounted for 130 per cent of headline profits and predicted growth of six per cent in the region over 2010. The bank’s operations in Asia, where one in two people bank with HSBC, posted a pre-tax [...]