SJP eyes new wealth clients July 29, 2009 WEALTH manager St James’s Place yesterday said it would broaden its investment range and style to attract new clients after posting a fall in first-half operating profits. Chief executive David Bellamy said St James’s Place was seeking to attract a new breed of clients and was planning to offer absolute return and fixed-income funds for [...]
UKFI loses 11bn on its bank stakes July 13, 2009 UK FINANCIAL Investments (UKFI) – the company set up to manage government stakes in banks – has suffered paper losses of £10.9bn from its investment in Royal Bank of Scotland (RBS) and Lloyds Banking Group, it said yesterday. Speaking as the organisation published its annual report, chief executive John Kingman said the value of its [...]
UKFI loses 11bn on its bank stakes July 13, 2009 UK FINANCIAL Investments (UKFI) – the company set up to manage government stakes in banks – has suffered paper losses of £10.9bn from its investment in Royal Bank of Scotland (RBS) and Lloyds Banking Group, it said yesterday. Speaking as the organisation published its annual report, chief executive John Kingman said the value of its [...]
Provident thrives amid crisis July 28, 2009 SUB-PRIME lender Provident Financial reported a 3.5 per cent rise in half-year profit and predicted ongoing growth yesterday, despite the effects of the recession. Pre-tax profit in the first six months of the year reached £53.1m, up from £51.3m in the same period last year. Provident, which lends to borrowers who cannot secure credit from [...]
Provident thrives amid crisis July 28, 2009 SUB-PRIME lender Provident Financial reported a 3.5 per cent rise in half-year profit and predicted ongoing growth yesterday, despite the effects of the recession. Pre-tax profit in the first six months of the year reached £53.1m, up from £51.3m in the same period last year. Provident, which lends to borrowers who cannot secure credit from [...]
IT’S OFFICIAL: BANK PROFITS ARE BACK August 2, 2009 BRITAIN’S biggest banks will this week herald a return to the gilded banking days of old as they post bumper interim profits, despite the impact of their mounting bad debts. Barclays is this morning expected to reveal a first-half pre-tax profit of £3.5bn, boosted by a stellar performance in its investment banking division, Barclays Capital, [...]
A PRODUCT WHATEVER YOUR VIEW August 5, 2009 ALEXANDRE HOUPERTHEAD OF LISTED PRODUCTS UK, SG CORPORATE & INVESTMENT BANKING WHEN markets are choppy, clever traders look for new ways to diversify their tactics. One of the great things about covered warrants is their adaptability, which makes them a good addition to your trading armoury right now. For example, there are plenty of new [...]
BEST OF THE BROKERS June 21, 2009 RECKITT BENCKISERMorgan Stanley analysts reiterated their “overweight” stance on Reckitt Benckiser, the UK consumer goods producer, stating fundamentals remain strong and the share price is attractive. They said Reckitt is now trading at the cheapest multiples – around 13.7x PE – seen since Reckitt & Coleman and Benckiser merged in December 1999. CARPHONE WAREHOUSERBS raised [...]
TIMELINE: HOW BRITAIN’S BANKING SECTOR WENT SOUR November 3, 2009 21 February, 2008Britain passes legislation allowing the government to nationalise Northern Rock after rejecting two private bids. Northern Rock is nationalised months after the Bank of England stepped in to provide support. 21 AprilThe BoE unveils the Special Liquidity Scheme to swap banks' risky mortgage assets for at least £50bn of government debt. 18 SeptemberLloyds [...]
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 [...]