Banks threatening to quit UK over new plans September 26, 2010 FOR SOME time now, the City of London has warned of a “tipping point” – a point in time where the benefits of being based in the UK no longer outweigh the tax and regulatory burden. Many commentators have dismissed this warning as an empty threat from an industry looking for a return to the [...]
UK shares surge as global deal boosts banks and China data cheers investors September 13, 2010 THE UK’s top share index ended higher yesterday after banks rose sharply in response to a new deal over global banking rules while mining shares gained on the back of bullish China industrial data. The FTSE 100 closed up 63.89 points, or 1.2 per cent, at 5,565.53 points, a fresh four-month closing high. “It has [...]
Facebook couldn’t have been British October 18, 2010 IT is simply untrue that Britain doesn’t produce any wealth and job creating entrepreneurs any more. Take some of the stories in today’s City A.M.; they demonstrate that Britain retains a vibrant start-up and growth culture. Hugh Willis, 50, and Mark Poole, 49, who founded BlueBay in 2001, are today each £82m richer after they [...]
Solid earnings are only the beginning for banking stocks August 2, 2010 AFTER what has been a difficult few months, the European banking sector couldn’t have asked for a better start to a week that is jam-packed with their first-half earnings announcements. Both London-listed HSBC and Paris-quoted BNP Paribas posted better than expected profits and revealed that their bad debts have fallen sharply to pre-crisis levels. Traders [...]
Investors: You have nothing to lose but your premiums October 27, 2010 BACK in 2002, covered warrants were launched on the London Stock Exchange with grand fanfare. And nobody cared. The products turned out to be something of a flop, with only £886,000 changing hands in the first week of trading. There is nothing intrinsically bad about covered warrants, however. In fact, they are quite remarkable – [...]
Investors: You have nothing to lose but your premiums October 27, 2010 BACK in 2002, covered warrants were launched on the London Stock Exchange with grand fanfare. And nobody cared. The products turned out to be something of a flop, with only £886,000 changing hands in the first week of trading. There is nothing intrinsically bad about covered warrants, however. In fact, they are quite remarkable – [...]
Henry: Self-made millionaire who brought Red Sox glory October 6, 2010 PROSPECTIVE Liverpool owner John W Henry knows what it takes to revive the dwindling fortunes of a world famous sporting name, having done as much with Boston Red Sox. Henry, 61, and his holding company New England Sports Ventures took control of the baseball franchise in 2002 and by 2004 had ended their 84-year wait [...]
FTSE rises on stimulus expectation October 6, 2010 BRITAIN’S top share index closed higher, at a fresh five month peak yesterday led by miners and energy issues as commodities rose on optimism governments will act to stimulate economies around the world. At the close, the FTSE 100 was up 45.63 points, or 0.8 per cent at 5,681.39, its highest close since 26 April. [...]
FTSE rises on stimulus expectation October 6, 2010 BRITAIN’S top share index closed higher, at a fresh five month peak yesterday led by miners and energy issues as commodities rose on optimism governments will act to stimulate economies around the world. At the close, the FTSE 100 was up 45.63 points, or 0.8 per cent at 5,681.39, its highest close since 26 April. [...]
Barclays top dogs decline bonuses as they defend ability to reward key staff February 16, 2010 BARCLAYS’ two top executives yesterday moved to soothe populist anger over the City’s remuneration culture by agreeing to forego their 2009 bonuses while emphasising their “gratitude” for state action to prop up the banking system during the crisis. Chief executive John Varley and president Bob Diamond, head of the lucrative investment bank Barclays Capital, declined [...]