CURRENT MORTGAGE DEALS October 8, 2009 Source: MoneySupermarket.com LENDER FIXED/FLEXIBLE RATE UNTIL STANDARD RATE APR MAXIMUM LOAN (PER CENT) (PER CENT) (PER CENT) TO VALUE (PER CENT)HSBC Special [...]
CURRENT MORTGAGE DEALS October 8, 2009 Source: MoneySupermarket.com LENDER FIXED/FLEXIBLE RATE UNTIL STANDARD RATE APR MAXIMUM LOAN (PER CENT) (PER CENT) (PER CENT) TO VALUE (PER CENT)HSBC Special [...]
BANKS SET FOR LLOYDS FEES PAYOUT October 12, 2009 Six investment banks stand to split up to £300m in fees if Lloyds Banking Group, led by chief executive Eric Daniels, goes ahead with its proposed £25bn cash call. Swiss bank UBS and BoA Merrill Lynch are set to act as lead underwriters while Citigroup, Goldman Sachs, JP Morgan Cazenove and HSBC will act as [...]
Commodities and banking stocks lead Santa Claus rally December 21, 2009 BRITAIN’S top share index closed sharply higher in thin pre-Christmas trading yesterday, buoyed by commodity stocks on firmer metals and crude prices and a rally in banking equities. The FTSE 100 index ended up 97.18 points, or 1.9 per cent, at 5,293.99, posting its biggest one-day percentage gain since 1 December, with trading volumes just [...]
JPM Cazenove tie-up created a force to be reckoned with November 15, 2009 WHEN US investment bank JP Morgan struck a deal to buy out half of Cazenove back in November 2004, many in the City felt it would be the beginning of the end, with the Queen’s stockbroker losing its reputation as a consummately professional independent dealmaker. In fact, quite the opposite has proved the case; despite [...]
Barclays gets a boost from star BarCap November 10, 2009 BARCLAYS, the UK’s second-largest bank, yesterday revealed a robust third-quarter profit haul and signalled light at the end of the bad debt tunnel, in a sign that the nascent economic recovery is feeding through into the banking sector. Barclays said pre-tax profit for the third quarter came in at £1.56bn, down from £2.8bn a year [...]
Quintain Estates joins rivals in property cash call frenzy November 5, 2009 PROPERTY developer Quintain Estates yesterday unveiled a fully underwritten £191.2m cash call to reduce its debt pile and fund construction projects. Quintain said the three-for-one rights issue of 390m shares would be priced at 49p – a 72 per cent discount to Wednesday’s closing price. The group said the net proceeds would be £183.5m after [...]
DUBAI DEBT WORRIES ROCK WORLD MARKETS November 26, 2009 DEEPENING fears about Dubai’s debt problems shook European stock markets yesterday, with the FTSE 100 index suffering its worst one-day loss since March. The FTSE fell by 3.2 per cent, losing more than 170 points to 5,194.13, while leading indices in France and Germany were also down sharply. Wall Street was closed for Thanksgiving. Banking [...]
GREENSHOOTS October 6, 2009 HSBC chairman Stephen Green was at odds with his chief executive yesterday, declaring he believes the worst of the economic crisis is over. Green told Bloomberg: “The world economy has found a bottom.” Earlier in the week chief executive Michael Geoghegan said he expected a second downturn.
CITY MOVES WHO’S SWITCHING JOBS November 5, 2009 Association of British InsurersThe ABI has appointed Kerrie Kelly, currently chief executive of the Insurance Council of Australia (ICA), as its new director general, effective from next February. Kelly has led the ICA since 2006, having formerly been CEO of the country’s Financial Planning Association. She is currently a non-executive director at HSBC in Australia, [...]