National Grid unveils £3bn rights issue May 20, 2010 UTILITIES giant National Grid yesterday shocked the market by revealing plans to tap investors for £3.2bn to keep up with investment demands in a rapidly-changing energy landscape. The firm will issue 2 new shares per 5 existing shares, at a price of 335p – a 43.7 per cent discount to Wednesday’s closing price. Shares in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 5, 2010 FINANCIAL TIMES DUBAI WALTH FUND BUY-OUT HEAD SWITCHES TO CARLYLE Carlyle, the US-based private equity group, has poached Eric Kump, head of Dubai International Capital’s European private equity team, leaving the sovereign wealth fund with a troubled portfolio and lacking funds for new deals. Mr Kump will on Tuesday be unveiled by Carlyle as a [...]
Car production sees 90pc rise in March as confidence rises April 22, 2010 LENDING to British firms fell at a slower pace in February than January but still recorded the second biggest annual percentage drop since records began, figures from the Bank of England (BoE) showed yesterday. There was better news for the housing market, however, with mortgage approvals rising for the first time since November and lenders [...]
Flow of lending to UK firms remains weak, warns BoE April 22, 2010 LENDING to British firms fell at a slower pace in February than January but still recorded the second biggest annual percentage drop since records began, figures from the Bank of England (BoE) showed yesterday. There was better news for the housing market, however, with mortgage approvals rising for the first time since November and lenders [...]
CURRENT MORTGAGE DEALS March 11, 2010 LENDER FIXED/FLEXIBLE RATE UNTIL STANDARD RATE APR MAXIMUM LOAN (PER CENT) (PER CENT) (PER CENT)TO VALUE (PER CENT) First Direct Flexible 2.39 Term 3.69 2.9 65 Market Harborough BS Flexible 2.48 2 years 5.49 5.1 75 HSBC Special Flexible 2.49 Term 3.94 2.7 60 Yorkshire BS Flexible 2.49 To Mar 2012 4.99 4.7 75 Nationwide [...]
FTSE sees biggest fall in five months after S&P slashes rating on Greece April 27, 2010 BRITAIN’S top share index dropped 2.6 per cent yesterday, the biggest fall in over five months as S&P downgrades for Greece and Portugal fuelled debt crisis contagion worries, smacking banks and commodity issues. At the close, the FTSE 100 index was down 150.33 points at 5,603.52, easily snapping an 88 point rally seen in the [...]
HSBC hints at deal for ING private bank September 21, 2009 HSBC is actively looking to purchase assets in private banking, it said yesterday, reigniting expectations that the bank soon wrap up a deal for units put up for sale by bailed-out Dutch financial group ING. Alexandre Zeller, chief executive of HSBC Private Bank (Suisse) confirmed that Europe’s largest bank was alive to potential acquisition opportunities, [...]
Investment banks line up for advisers’ fee bonanza March 1, 2010 HSBC, JPMorgan and Credit Suisse stand to take a healthy slice of the action by underwriting Prudential’s $20bn (£13bn) cash call for American International Assurance. The 162-year-old insurer is tipped to pay $735m in fees to the investment banks for underwriting and advising on the rights issue. Dealmakers will enjoy a three per cent upfront [...]
FTSE 100 closes up as the market is boosted by rising mining companies April 26, 2010 BRITAIN’S top share index closed higher yesterday, boosted by miners as metals rose and overcoming wariness about the outcome of Greece’s debt problem. The FTSE 100 closed up 30.20 points, or 0.5 per cent, at 5,753.85, extending Friday’s one per cent rally, but below yesterday’s intra-day peak of 5,800.66. Antofagasta, Eurasian Natural Resources and Kazakhmys [...]
Concerns over Goldman Sachs weigh on the FTSE 100 as mining shares fall April 19, 2010 UNCERTAINTY over the fallout from fraud charges against Goldman Sachs and the grounding of flights across Europe depressed London blue chips yesterday, led by risk-sensitive banks and miners and travel firms. The FTSE 100 closed down 16.05 points, or 0.3 per cent, at 5,727.91, extending Friday’s 1.4 per cent fall. Banks were rattled as investors [...]