Rathbone reviews banking licence as profits dive 30pc February 24, 2010 RATHBONE Brothers has kicked off a formal review of the benefits of holding a banking licence as the prospect of tough regulatory changes looms. Chief executive Andy Pomfret told City A.M. the issue had been “on the radar” for some time, but explained: “What’s changing is there are likely to be changes in capital requirements. [...]
City applauds Tory cut-price shares move February 22, 2010 CONSERVATIVE plans to offer millions of people cheap shares in Britain’s nationalised banks have received a tentative thumbs-up from the City. Shadow chancellor George Osborne yesterday outlined a scheme to hand small investors shares in Royal Bank of Scotland and Lloyds Banking Group when the government exits its £70bn stake. The “people’s bonus” would reward [...]
FTSE 100 soars to 21-month high boosted by Greek bailout March 25, 2010 BRITAIN’S top shares hit a 21-month closing high for the third day in a row yesterday, helped by a rally in banks as sovereign debt concerns faded, while retailers were boosted by upbeat results from Next and UK retail sales. The FTSE 100 ended 49.77 points higher at 5,727.65, finishing above the 5,700-mark for the [...]
St James’s boosts its annual dividend February 24, 2010 WEALTH manager St James’s Place beat analyst forecasts to deliver a 12 per cent increase in full-year operating profits yesterday, buoyed by rising markets in 2009. The Cirencester-based company, which is 60 per cent owned by Lloyds Banking Group, produced £228.9m compared with £204.3m a year earlier. Its pre-tax number swung from a loss of [...]
Banks and commodities make gains as Wall Street is closed for public holiday February 15, 2010 BRITAIN’S leading shares rose 0.5 per cent yesterday, led by firmer banks and commodity issues after falls in the previous session, while British Airways climbed on increased hopes for a global alliance. At the close, the FTSE 100 was 25.02 points higher at 5,167.47, well below the session peak of 5,194.29. Blue chips drifted off [...]
Darling stamps on City workers March 24, 2010 ALISTAIR Darling stepped up his war on banks and the wealthy yesterday, but he refused to announce a raft of gimmicky pre-election giveaways. Delivering what is likely to be his last Budget, he continued to clobber the better-off by unveiling a new top rate of stamp duty. Amid cheers from the Labour backbenches, Darling said [...]
A new generation of banks August 5, 2010 BRITAIN saw the launch of its first new high street bank in many years recently, with the opening of Metro Bank’s first and only branch so far on High Holborn. The launch featured no end of gimmicks – including balloons, goodie bags and free dog biscuits – to persuade consumers that the bank offers something [...]
Banks weigh on the FTSE as Credit Suisse warns of future funding crisis March 9, 2010 BRITAIN’S top share index closed a touch lower yesterday, as a weakening in banks after a cautious research note from Credit Suisse slightly outpaced buoyant oil issues and drugmakers. The FTSE 100 ended down 4.42 points, or 0.1 per cent, at 5,602.30, having closed up 0.1 per cent on Monday, its highest close since 2 [...]
Oil and minerals bolster FTSE index despite banking and drugmaker lows March 8, 2010 BRITAIN’S top share index hit an 18-month closing high yesterday, led by oil stocks and miners, while drugmakers fell with AstraZeneca pressured after its cancer drug failed in trials. The FTSE 100 ended up 6.96 points, or 0.1 per cent, at 5,606.72, its highest close since 2 September 2008. The index gained 4.6 per cent [...]
FTSE 100 peaks at 21-month high led by banks and energy March 23, 2010 BRITAIN’S top share index rose 0.5 per cent yesterday, hitting a fresh 21-month closing high, led by commodity, enErgy and banking stocks as fears over monetary tightening effects ebbed. The FTSE 100 index ended 29.09 points higher at 5,673.63, after hitting an intra-day high of 5,695.94. It was the highest close since June 19 2008. [...]