Retail banks the worst hit by Obama’s plans January 26, 2010 YOUGOV’S BrandIndex operates in the United States, as well as the UK and continental Europe. We have looked at the impact that President Obama’s announcement on 21 January may have had on the American public’s perception of US consumer and investment banking brands. Obama’s proposals include strict regulations on consumer banks, restricting their ability to [...]
The tributes pour in as City A.M. gets to 1,000 October 22, 2009 GORDON BROWNPrime Minister“Congratulations to City A.M. on reaching a thousand editions. Your paper has kept both Westminster and the City informed at a time of great turbulence in the world economy.” SIR VICTOR BLANKFormer chairman, Lloyds Banking“City A.M. has developed into a quality newspaper which sparks boardroom debate with its insight and analysis. It is [...]
Virgin and Tesco banks are unlikely to upset big players January 11, 2010 THE UK’s top five banks will continue to dominate the market despite the recent glut of negative publicity. A new report from Datamonitor suggests new players entering the market have “missed the boat” and should have launched in the direct aftermath of the banking crisis. Customer inertia is seen as the biggest stopping point for [...]
Lloyds could avoid APS with 15bn fund-raising August 9, 2009 LLOYDS BANKING GROUP will need to raise up to £15bn from investors if it wants to avoid participating in the government’s asset protection scheme (APS), analysts estimate. The bank has agreed to insure £260bn of assets via the scheme, but chief executive Eric Daniels is thought to be unhappy with the £16bn fee and the [...]
Lloyds could avoid APS with 15bn fund-raising August 9, 2009 LLOYDS BANKING GROUP will need to raise up to £15bn from investors if it wants to avoid participating in the government’s asset protection scheme (APS), analysts estimate. The bank has agreed to insure £260bn of assets via the scheme, but chief executive Eric Daniels is thought to be unhappy with the £16bn fee and the [...]
BANKERS AND MINERS ARE IN DEMAND September 2, 2009 ALEXANDRE HOUPERTHEAD OF LISTED PRODUCTS UK, SG CORPORATE & INVESTMENT BANKING LIKE all investors, those who use covered warrants will be starting to think about how to position themselves for a potential global upturn. Two sectors in particular have been at the forefront of the market’s summer rally: banking and mining. Given how low banking [...]
CBI boss Richard Lambert can see early signs of economic recovery November 19, 2009 THE worst is over for the British economy. At least, that was the message from Richard Lambert, the Confederation of Business Industry’s (CBI) thoughtful director-general, when we meet. “We have finally hit the deck,” he tells me, leaning forward. “Things are a lot better now than in the first quarter of this year. Where we [...]
BNY Mellon nears Insight deal August 4, 2009 Bank of New York Mellon is in late-stage talks to buy the lion’s share of Insight, the fund manager inherited by Lloyds Banking Group from HBOS, in a deal worth up to £235m. BNY is understood to have beaten off competition from US private equity house Hellman & Friedman and asset manager Schroders. Abdullah Nauphal, [...]
Hampson looks to raise £60m February 2, 2010 Aerospace and automotive manufacturing group Hampson Industries yesterday announced a proposal to raise £59.5m via a share placing and open offer to reduce net debt and revamp the group’s financial structure. Over 119m new ordinary shares will be on the table at a share price of 50p which represents a 22.8 per cent discount to [...]
Goldman Sachs backs banks and helps to lift the markets August 18, 2009 THE FTSE 100 closed 0.9 per cent higher yesterday, led by gains in banks and miners which recovered from losses in the previous session, while data showed inflation held steady in July. The large-cap index closed 40.77 points higher at 4,685.78, recovering from a 1.4 per cent drop on Monday, its biggest one-day percentage loss [...]