WHAT THE OTHER PAPERS SAY THIS MORNING January 7, 2010 FINANCIAL TIMES SPAIN AIMS TO BRING EU STATES INTO LINE The European Union should apply “corrective measures” against member states that fail to meet their obligations under a new 10-year plan to improve the bloc’s competitiveness, José Luis Rodríguez Zapatero, Spain’s premier, said. In a proposal likely to stir controversy among other EU governments, Mr [...]
Slimmed down RBS?and Lloyds are attracting clever money January 4, 2010 BANKS have had a torrid time for the past year and a half. But there were signs of life yesterday, at least for some. Royal Bank of Scotland (RBS) and Lloyds Banking Group had a good start to the first trading day of 2010, rising more than 9 per cent and 3 per cent respectively. [...]
Lloyds left 1.3bn out of pocket from Kenmore demise and Admiral swap November 15, 2009 Kenmore Property Group, which collapsed into administration last week, owes more than £700m to Lloyds Banking Group. Kenmore, which controlled £1.8bn of assets, was put into administration last Thursday by Grant Thornton, after becoming incapable of meeting any of its existing business obligations as a result of falling home sales. Owned by one of Scotland’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2010 Financial times TNK-BP STEP UP SALE OF GAS FIELD TNK-BP, BP’s Russian joint oil venture, ratcheted up the pressure for a sale of its vast Kovykta gas field on Thursday, announcing that it was pushing the unit that owns the licence to the field into bankruptcy. The move raises the stakes over the future of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2010 Financial times TNK-BP STEP UP SALE OF GAS FIELD TNK-BP, BP’s Russian joint oil venture, ratcheted up the pressure for a sale of its vast Kovykta gas field on Thursday, announcing that it was pushing the unit that owns the licence to the field into bankruptcy. The move raises the stakes over the future of [...]
CITY AM | SHADOW MPC May 9, 2010 ALLISTER HEATH | CITY A.M. “The economy is recovering and requires tighter policy. However, given the political uncertainty, rates should be kept on hold – with the option of an emergency MPC meeting in a few weeks if required.” SIMON WARD | NEW STAR “Raise rates by 25 basis points. The election result risks delaying [...]
Forte in talks over restructuring October 25, 2009 Hotels veteran Sir Rocco Forte is understood to be in talks with his business partner, the high street bank HBOS, about a restructuring to enable the company to ride out the economic downturn. Rocco Forte Collection, his joint venture with the state-backed unit of Lloyds Banking Group, runs luxury accommodation including Edinburgh’s Balmoral Hotel and [...]
Bank changes affect millions November 3, 2009 MILLIONS of retail banking customers will be affected by the sale of Lloyds Banking Group and Royal Bank of Scotland assets, but it could be four years before the process is complete. Spokespeople for both RBS and Lloyds both stressed yesterday that it was “business as usual” until further notice, and that any disruption will [...]
LESS ACTION WOULD HELP THE MARKET May 18, 2010 MANAGING DIRECTOR, ARTEMIS PHEW. We all like a bit of excitement. But this is getting ridiculous. After the euro’s crisis and the forming of the UK’s coalition government, we could all do with a rest. If the FTSE 100 index could just get back to – and hold – 5,400 for a while, that would [...]
Banks push FTSE higher but vaccine worries hit pharma January 5, 2010 THE leading share index ended 0.4 per cent higher on yesterday, hitting a fresh 16-month closing high, as banks and commodity stocks rose, but gains were capped by a fall in drugmakers on concerns over vaccine sales. The blue chip FTSE 100 closed 22.16 points higher at 5,522.50, its highest close since 2 September 2008 [...]