Bank buyers circle as Rock splits off unit January 4, 2010 THE race to snap up the good assets of Northern Rock heated up yesterday, with Virgin Money and National Australia Bank (NAB) emerging as the frontrunners. Clydesdale and Yorkshire Bank owner NAB is understood to have held meetings with potential advisers including Lazard, Citigroup, Credit Suisse and Morgan Stanley ahead of a potential bid for [...]
SAVINGS GIANTS IN MEGA-MERGER December 1, 2009 YORKSHIRE Building Society is in advanced merger talks with beleaguered competitor Chelsea, in a deal experts said could fuel further consolidation in the sector. A tie-up, yet to be approved by the FSA, would create a major force in the building society arena. With £38bn assets and 2.7m members it would be second only to [...]
It will be another volatile year for the markets January 3, 2010 Making predictions about the year ahead is an exercise that more often that not results in the author ending up looking pretty foolish. The last few years have proved that even some of the best minds on the planet have a pretty poor record in plotting the future. On the other hand, this does mean [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 8, 2010 THE SUNDAYS The Sunday Telegraph MANDELSON ATTACKS US AND EUROPE The full scale of world tension between governments over the way to deal with the banking crisis has been revealed today after Peter Mandelson, the business secretary, said that neither America nor the European Union had shown global leadership on the issue. As the G7 [...]
Struggling construction sector sees accelerated rate of decline in activity November 3, 2009 CONSTRUCTION activity in the UK fell at an accelerated rate in October for the first time in five months, according to the leading CIPS/Markit construction purchasing managers’ index yesterday. The headline index showed a fall to 46.2 from 46.7 in September, well below the 50 mark that separates expansion from contraction. Activity by construction firms [...]
KPMG turnover falls 1.6pc as M&A weakness cuts tax take December 15, 2009 SERVICES giant KPMG saw UK revenues slip 1.6 per cent for the year to September as a decrease in corporate activity took its toll. The firm blamed fewer mergers and acquisitions for the marginal fall in turnover to £1.6bn. Operating profit was down 1.3 per cent to £382m in a tough year that began with [...]
WSP sees challenging markets November 4, 2009 WSP Group, the building and environmental consultancy, said trading since 1 July continued to be in line with its expectations. The group, which offers management, planning and environmental advice, however, said market conditions remained very challenging with difficult trading conditions in most markets in the private sector. “We are continuing to see a solid performance [...]
The Tory who wants to empower parents and fight the bureaucrats March 7, 2010 TORY activists are a miserable bunch at the moment, and who can blame them? The polls suggest we are on course for a hung parliament, with their party struggling to land blows on a tired, unpopular government. And even if the Conservatives do emerge victorious, there is little in David Cameron’s policy cupboard for the [...]
A sad day as Cadbury bites the dust January 18, 2010 IT is a great shame that Cadbury’s management has succumbed so easily to Kraft’s advances. Ever since I can remember, the British confectioner had been stalked by predators; yet for years it defied the doubters and refused to go the way of that other Quaker giant, Rowntree, snapped up by Nestle in 1988. Under the [...]
Balanced debate is needed on future of banking January 10, 2010 As people from across the City brave the wintry conditions let us hope that policy makers can help provide a brighter forecast for the financial services industry over the coming year. The past 12 months have seen the business environment in a state of almost constant flux. A series of measures – most notably the [...]