ANALYST VIEWS: IS JOHN PEACE THE RIGHT MAN TO CHAIR STANDARD CHARTERED? July 2, 2009 NIC CLARKE CHARLES STANLEYThere had been a few leading contenders but with news that Win Bischoff is apparently set to become chairman of Lloyds, we were not surprised with the appointment of John Peace . He has done a good job as acting chairman since Mervyn Davies joined the UK government. However, we do highlight [...]
Tories ahead, but more work still needed July 20, 2009 IN the main, yesterday’s Tory White Paper was a success. George Osborne is right to want to abolish the FSA and make the Bank of England responsible for financial stability. I’m delighted the Tories won’t be proposing a separation of investment and retail banks any time soon, and that any break-up of Lloyds or RBS [...]
Shadow MPC calls for QE to be extended July 8, 2009 QUANTITATIVE EASING (QE) should be extended this month to ensure the sustainability of the UK’s fragile economic recovery, say a majority of City A.M.’s shadow monetary policy committee, ahead of the Bank of England decision, which is due at midday today. Concerns about the sustainability of UK’s economic recovery and the uncertainty of policy effectiveness [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 19, 2009 FINANCIAL TIMES INVESTCORP REPORTS FIRST LOSSInvestcorp reported its first annual loss in its history after the London and Bahrain-listed investment group suffered big falls on its hedge fund investments and heavy writedowns at its private equity and real estate arms. The company, which made its name investing in retailers Gucci, Tiffany and Saks Fifth Avenue, [...]
Slump in UK buyout deals July 8, 2009 THE FIRST half of 2009 was one of the worst periods in recent history for UK mergers & acquisitions (M&A) because the debt needed to fund the deals has dried up, according to research from Mergermarket. The number of completed deals in the UK was down 66.4 per cent on the same period last year, [...]
Slump in UK buyout deals July 8, 2009 THE FIRST half of 2009 was one of the worst periods in recent history for UK mergers & acquisitions (M&A) because the debt needed to fund the deals has dried up, according to research from Mergermarket. The number of completed deals in the UK was down 66.4 per cent on the same period last year, [...]
CITY AM SHADOW MPC July 8, 2009 ALLISTER HEATH CITY A.M.Growth is returning slowly to the UK economy. But the Bank will increase quantitative easing this month; it has little choice really as the markets (and the Treasury) are not ready to face any exit strategy. SIMON WARD HENDERSON NEW STARExpand gilt purchases by £25bn but halve the pace to £12.5bn a [...]
CITY AM SHADOW MPC July 8, 2009 ALLISTER HEATH CITY A.M.Growth is returning slowly to the UK economy. But the Bank will increase quantitative easing this month; it has little choice really as the markets (and the Treasury) are not ready to face any exit strategy. SIMON WARD HENDERSON NEW STARExpand gilt purchases by £25bn but halve the pace to £12.5bn a [...]
BA and Lloyds in pension row June 4, 2009 LLOYDS has been told by an increasingly irate staff union to issue a formal guarantee it will keep its final salary pension scheme open for existing members, ahead of its high-profile shareholder meeting today. This came as British Airways admitted last night all options remain open over its pension deficit, boosting fears it will close [...]
Lloyds investors ponder law suit over HBOS deal May 31, 2009 A GROUP of small investors is preparing a legal campaign against the directors of Lloyds TSB over their takeover of HBOS, as the bank’s board faces up to a showdown at this Friday’s AGM. The UK Shareholders’ Association (UKSA) is sounding out more than a million small investors in Lloyds about a possible legal action [...]