INVESTMENT BANK WANNABE LAYS HIS SOUL BARE AT GOLDMAN ALTAR January 24, 2010 DEPLETED bonus pool or not, it appears university graduates are still tripping over themselves to land a coveted internship position at Wall Street giant Goldman Sachs. In swoops an email doing the rounds in the City, alerting The Capitalist to a copy of a Goldman internship application form recently sent by an aspiring master of [...]
HSBC and Berkley fall after Saudi accounts frozen by banks June 1, 2009 SHARES in HSBC and housebuilder Berkeley Group dropped yesterday after the accounts of a major shareholder were frozen by the Saudi Arabian Monetary Agency (SAMA). The Saudi central bank ordered domestic lenders to freeze the bank accounts of businessman Maan al-Sanea, one of the country’s wealthiest businessmen. Sanea is chairman and founder of the Saad [...]
HSBC and Berkley fall after Saudi accounts frozen by banks June 1, 2009 SHARES in HSBC and housebuilder Berkeley Group dropped yesterday after the accounts of a major shareholder were frozen by the Saudi Arabian Monetary Agency (SAMA). The Saudi central bank ordered domestic lenders to freeze the bank accounts of businessman Maan al-Sanea, one of the country’s wealthiest businessmen. Sanea is chairman and founder of the Saad [...]
Axa to launch 2bn cash call November 8, 2009 Insurance giant AXA is plotting a €2bn (£1.8bn) rights issue to fund potential acquisitions. It is believed that bankers BNP Paribas and HSBC have been hired to work on the capital raising. Earlier this year Axa’s senior management said that the company did not need to tap shareholders for money – but the fresh equity [...]
Mickelson holds off Els in China November 8, 2009 GOLF: World No2 Phil Mickelson held of the challenge of Ernie Els to claim his second HSBC Champions success in three years in Shanghai. South African Els piled on the pressure with a course-record equalling 63, but Mickelson, who started the final day with a two-shot lead, clung on with a 69 for a 17-under-par [...]
New rules would be bad for London January 21, 2010 HOW predictable. No sooner was Barack Obama humiliated by the Massachusetts electorate earlier this week – his left-wing candidate lost Ted Kennedy’s ultra safe seat to a radical conservative – than he announces another war on Wall Street. It is easy to forget in Britain, where Obama remains extraordinarily popular, that his administration is no [...]
THE TIPSTER DUBAI FEARS ARE BATTERING BRITISH BANKS November 29, 2009 THE shock announcement that Dubai World was unable to meet its debt obligations last week put intense pressure on stocks and currencies worldwide. Investors were concerned that British banks might have significant exposure to Dubai and the UK financial institutions got a battering. But with the uptrend of the latest bull run still intact, the [...]
Take a punt on how much further British banking stocks can rise November 25, 2009 THE Bank of England’s secret deal which saw it lend ailing Royal Bank of Scotland and HBOS an astonishing £61.6bn last October was a timely reminder of just how bad the situation was this time last year. The global financial system was struggling to rebalance itself and many banks had either collapsed entirely or been [...]
Why the City’s shipping supremo is battling an old rival for members March 16, 2010 THE CHIEF executive of the Baltic Exchange Jeremy Penn looks remarkably unruffled for a man who has just seen a rival come back for a second time in a concerted attempt to muscle in on his business. The head of the exchange that sets the prices for the majority of the world’s $200bn (£182bn) shipping [...]
Banks and miners lift FTSE but retail shares take a dive January 14, 2010 STRENGTH in miners helped Britain’s top share index to a 0.5 per cent rise by yesterday’s close after soaring output figures from Rio Tinto boosted the sector, but retailers fell on weak trading updates. The FTSE 100 ended 24.72 points higher at 5,498.20 after falling for two days, pressured by China’s decision to tighten banks’ [...]