Taylor Wimpey refinancing in a bid to beef up land purchases July 11, 2010 HOUSEBUILDER Taylor Wimpey has returned to the negotiating table with lenders, in a bid to access funding for land purchases. The company, which completed a £1.55bn debt restructuring last year, now wants to refinance its bonds and bank loans, according to the Financial Times. Although the firm’s repayments on debts are not due until July [...]
Taylor Wimpey refinancing in a bid to beef up land purchases July 11, 2010 HOUSEBUILDER Taylor Wimpey has returned to the negotiating table with lenders, in a bid to access funding for land purchases. The company, which completed a £1.55bn debt restructuring last year, now wants to refinance its bonds and bank loans, according to the Financial Times. Although the firm’s repayments on debts are not due until July [...]
CITY MOVES | WHO’S SWITCHING JOBS March 7, 2010 Santander The Spanish banking group has appointed Damian McGann as head of business development in its corporate banking team. McGann has over 20 years of experience in the sector and joins from Lloyds Banking Group, where he previously headed up substantial businesses in the Midlands and Scotland. He will focus on a range of businesses, [...]
Lloyds boss Daniels to waive bonus February 22, 2010 LLOYDS Banking Group chief executive Eric Daniels yesterday bowed to populist acrimony over City remuneration by becoming the fourth major bank boss in a week to surrender his contractual bonus for the year. Daniels had been entitled to a potential maximum payout of £6.5m for the 2009 financial year, of which just £1.04m represents his [...]
Goldman eyes key unit rejig August 4, 2010 GOLDMAN SACHS could hive off its proprietary trading activities within months to prevent talented traders defecting to hedge funds, as US financial reform legislation takes effect. Under the so-called “Volcker rule” banks have four years to cut their proprietary trading exposure to three per cent of tier one capital. But Goldman, which at 27 per [...]
Goldman eyes key unit rejig August 4, 2010 GOLDMAN SACHS could hive off its proprietary trading activities within months to prevent talented traders defecting to hedge funds, as US financial reform legislation takes effect. Under the so-called “Volcker rule” banks have four years to cut their proprietary trading exposure to three per cent of tier one capital. But Goldman, which at 27 per [...]
While you’re in the City soak up the atmosphere and the history October 27, 2010 FOR centuries St Paul’s, and not the Stock Exchange, was where the City’s activity and bustle reached its highest pitch. A seventeenth century writer wrote of it that “the noyse in it is like that of Bees, a strange humming or buzze, mixt of walking, tongues and feet: It is a kind of still roar [...]
Intended pay rise for HSBC boss blocked February 23, 2010 HSBC chief executive Michael Geoghegan will not see a planned 36 per cent hike in his salary this year after the bank yielded to continued protests by shareholders. The London-based bank had toldshareholders it intended to raise Geoghegan’s salary to £1.4m, it is understood, at the same time it also proposed to hike finance director [...]
Firms’ sanctions compliance must be tightened up August 31, 2010 FINANCIAL regulation reform is all the rage. Last week, President Nicolas Sarkozy unveiled his programme of “action and ambition” for France’s forthcoming presidency of the G20. It puts global reform of financial markets and systems at the very top of the agenda. The US has already passed sweeping reform legislation and the coalition government has [...]
Arena profits up after media deals March 1, 2010 ARENA Leisure – the UK’s biggest racecourse operator – has seen pre-tax profit rise three per cent to £4.1m. The group received a boost from a new media rights deal and £55m of new banking facilities arranged with Lloyds Banking Group. Revenues jumped to £65.2m, up from £64.8m in the year to 31 December. Pre-tax [...]