FTSE 100 slips below 4,200 but defensives stay afloat July 6, 2009 THE FTSE 100 fell one per cent yesterday to close 41.37 points down at 4,194.91, on concerns about the global economic outlook, with heavyweight oils, miners and banks leading the market lower, after it gained 0.1 per cent on Friday. The index fell through the 4,200 level for the first time since late April. It [...]
New Lloyds cuts anger union May 21, 2009 Unions reacted angrily yesterday after Lloyds Banking Group said it plans to axe 210 UK-based jobs by the end of next year, as it merges the telephone and digital banking services of Lloyds TSB and HBOS. The news came just two days after the bank announced that 625 jobs would be lost as a result [...]
Pharmaceuticals inject more life into the FTSE 100’s rise July 22, 2009 THE FTSE 100 added 0.3 per cent yesterday, extending its winning streak to eight sessions thanks to modest gains on Wall Street and solid second-quarter results from drugs giant GlaxoSmithKline. At the close, the index was 12.56 points higher at 4,493.73, up 8.2 per cent over the past eight sessions. Drug maker Shire was the [...]
Pharmaceuticals inject more life into the FTSE 100’s rise July 22, 2009 THE FTSE 100 added 0.3 per cent yesterday, extending its winning streak to eight sessions thanks to modest gains on Wall Street and solid second-quarter results from drugs giant GlaxoSmithKline. At the close, the index was 12.56 points higher at 4,493.73, up 8.2 per cent over the past eight sessions. Drug maker Shire was the [...]
First gains of the week as Alcoa boosts the markets July 9, 2009 THE FTSE 100 closed 0.5 per cent higher yesterday, ending a three-day losing streak on the back of gains in miners after reassuring earnings from Alcoa. The index closed 18.43 points firmer at 4,158.66, having fallen 1.1 per cent the previous session to its lowest closing level in more than two months. However trading was [...]
Loss of 17.6bn if banks sold May 20, 2009 TAXPAYERS would make losses of £17.6bn if the government sold out of Lloyds Banking Group and Royal Bank of Scotland (RBS) at today’s prices, Exane BNP Paribas said yesterday. The figures indicate that any sell-off of the government’s stake in either Lloyds or RBS is unlikely ahead of the next general election. BNP Paribas calculated [...]
CITY MOVES WHO’S SWITCHING JOBS June 8, 2009 DeloitteThe business advisory firm has appointed risk management specialist Philipp Keller to its European Solvency II team. Keller, who joins the Zurich office as head of insurance risk management, was previously head of research and development and a board member of the Federal Office of Private Insurance in Switzerland. He is also an adviser on [...]
CITY MOVES WHO’S SWITCHING JOBS June 8, 2009 DeloitteThe business advisory firm has appointed risk management specialist Philipp Keller to its European Solvency II team. Keller, who joins the Zurich office as head of insurance risk management, was previously head of research and development and a board member of the Federal Office of Private Insurance in Switzerland. He is also an adviser on [...]
Lloyds closes C&G outlets June 9, 2009 LLOYDS Banking Group is to withdraw its Cheltenham & Gloucester (C&G) brand from the high street in a move that will see the bank wield the axe over up to 1,660 staff as it streamlines in the wake of its takeover of HBOS. The bank said it would close all 164 branches of C&G within [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 2, 2009 FINANCIAL TIMES CIC IN €800M OFFER TO APAXChina Investment Corp, China’s sovereign wealth fund, is offering to invest as much as €800m (£723m) into Apax Partners’ €11.2bn private equity fund in a groundbreaking deal.The move, which would see CIC acquire a small stake in the management company of one of Europe’s biggest equity funds, shows [...]