THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
THE LONDON REPORT August 4, 2009 WEAKNESS in miners and banks sent the FTSE 100 0.2 per cent lower yesterday, retreating from the 2009 of the previous session. The index closed 11.09 points lower at 4,671.37, after ending at 4,682.46 on Monday. “When you’ve had such a strong run since March and after such a strong July, you can’t expect to [...]
Banking sector trading update will show pick of the crop July 5, 2009 WITH news that bankers at Goldman Sachs and Morgan Stanley are on track for bumper full-year bonuses, celebrated with the obligatory champagne and expensive dinners, you’d be forgiven for thinking that the financial crisis had never happened. But while they might be in line for those bonuses, investors and traders will be scrutinising banks’ earnings [...]
Knight urges caution over bank reforms June 29, 2009 FORCING large banks to shrink would damage the UK economy, the chief executive of the British Bankers’ Association (BBA) Angela Knight warned yesterday. Speaking to City A.M. ahead of today’s annual BBA international banking conference, Knight said the BBA would not support any move to scale down large banks and urged governments not to rush [...]
FTSE 100 hits a yearly high on cheery earnings season July 23, 2009 THE FTSE 100 broke through the 4,500 level yesterday as it rose for the ninth straight day on the back of positive economic data and a rally in banks and miners. The index rose by 66.07 points, or 1.5 per cent, to 4,559.80, the highest closing level since early January, having touched a high of [...]
RBS boss in 9.6m pay bonanza June 21, 2009 ROYAL Bank of Scotland is set to announce a £9.6m pay package for chief executive Stephen Hester, in a deal agreed after his predecessor Sir Fred Goodwin agreed to give up a third of his pension. The long-term incentive plan was approved on Friday by UK Financial Invesments, controller of the state’s 70 per cent [...]
RBS boss in 9.6m pay bonanza June 21, 2009 ROYAL Bank of Scotland is set to announce a £9.6m pay package for chief executive Stephen Hester, in a deal agreed after his predecessor Sir Fred Goodwin agreed to give up a third of his pension. The long-term incentive plan was approved on Friday by UK Financial Invesments, controller of the state’s 70 per cent [...]
Jessops woes back in focus May 27, 2009 PHOTOGRAPHIC retailer Jessops yesterday saw its stock plunge 63 per cent after shareholders were warned they would probably end up with nothing, as the company battles falling sales and its debt pile. The company reported half-year pre-tax losses of £6.3m for the six months to 31 March, while like-for-like sales were down 4.4 per cent. [...]
CITY MOVES Who’s switching jobs July 7, 2009 Palamon Capital PartnersThe mid-market private equity firm has appointed Dr Richard Wolman to its now 13-strong board of advisers. Wolman is a consultant in human resource development with a particular focus on investment firms, trading houses and management consultancies. Since 2008, he has been working with Palamon on internal development strategies and assisting its investment [...]
Treasury hires banks to manage auction of bonds June 9, 2009 THE Treasury has turned to a quartet of banks to manage a sale of 25-year bonds, in its first syndicated gilt sale in four years. The Debt Management Office said Barclays Capital, Goldman Sachs, HSBC and Royal Bank of Scotland had been hired to sell the securities during the week beginning 15 June. The bonds, [...]