Investment matchmaking: a new industry that is beating the crunch July 21, 2008 It is boom time for Gerson Lehrman, now backed by private equity giant Silver Lake, says Roger Baird Business is great for Gerson Lehrman Group (GLG), the investment matchmaking service, to the delight of the managing director of its British division, Paul Ciraolo. New York-based GLG was set up in 1998; it is part of [...]
Business confidence plummets July 21, 2008 Worsening economic conditions are taking their toll on business confidence in the capital, according to the latest Business in Britain survey. The study, from Lloyds TSB Commercial, revealed that firms’ optimism for the coming six months is lower than ever, with London-based companies hit hardest. The Business Confidence Index for July showed that the balance [...]
HBOS backers face £300m losses on rights issue flop July 18, 2008 HBOS’s £4bn cash-call is today expected to be shunned by shareholders – making it one of the biggest ever failed rights issues. Shares in the bank staged a rally yesterday, rising 5 per cent to 268.25p – but despite clawing back some of the ground lost in recent days the stock still closed below the [...]
Capital & Regional set to sell fresh assets after its funds slump in value July 16, 2008 Co-investing property fund manager Capital & Regional hinted yesterday that further sales of its assets were likely, as it moves to cope with the slump in the property market. The company, which is one of the biggest property asset managers in the country and owns a number of large shopping centres and out of town [...]
This crisis shows what lies in wait for the rest of the City July 14, 2008 While Dawnay Day is no household name, the crisis that has engulfed the privately-owned investment giant in recent days will be remembered as a key milestone in the credit crunch. A perfect microcosm of the unravelling of the great financial boom of the noughties, Dawnay’s woes are being followed especially closely by London’s huge Mayfair-based [...]
FTSE as low as 2005 July 11, 2008 Leading U.K. stocks slumped to the lowest since 2005, led by retailers and travel companies on concern a slowing economy will curb consumer spending. The slump in the FTSE 100 Index came as the Bank of England left interest rates unchanged. The FTSE 100 Index retreated 122.8, or 2.2 percent, to 5,406.8 in London as [...]
Signet moves share listing to New York July 11, 2008 Jewellery giant Signet Group yesterday announced it would move its primary listing to the New York Stock Exchange, as part of a raft of changes to focus its business on the American market. The jeweller, which owns the H Samuel and Ernest Jones chains in the UK, said it hoped to complete the move – [...]
Rose survives protest vote on double role July 10, 2008 Marks & Spencer boss Sir Stuart Rose has kept his job after a planned shareholder revolt at the retailer’s annual meeting yesterday turned into no more than a whimper. Over 94 per cent of the grey-haired army that braved the rain to descend on the Royal Festival Hall on London’s South Bank yesterday afternoon to [...]
FTSE 100 flirts with bear market July 9, 2008 London’s leading blue chip share index lurched into official bear market territory yesterday before recovering to end the day lower, but temporarily out of the danger zone. The FTSE 100 index fell below 5,385 points in early trading, 20 per cent below its June 2007 peak of 6,732, putting it in official bear territory, defined [...]
Russia’s Sibir Energy races towards FTSE July 8, 2008 London-listed mid-sized Russian oil company Sibir Energy said yesterday its full-year pre-tax profit trebled to $344m (£172m) due to higher output at its Siberian unit and strong margins from refining and retail. Sibir said its crude oil production rose 80 per cent in the year to 17.8 million barrels. Most of the output, 15.3 million [...]