Copper will remain strong in 2010 despite Chinese policy tightening February 3, 2010 CASTING an eye back over 2009, copper was clearly one of the standout performers. Its price has risen 126 per cent over the past year, fueled by rising expectations about the global economy, China regaining its voracious appetite for industrial metals and a weakening US dollar increasing copper’s attractiveness (it is priced in dollars). After [...]
Barclays’ Lehman deal probed June 25, 2009 A US bankruptcy judge has ruled that Lehman Brothers Holdings has the right to investigate the details of the sale of its broker-dealer unit to Barclays, to determine whether the UK bank got “too good of a deal”. Barclays snapped up the brokerage last year after Lehman filed for bankruptcy, but the company’s lawyers now [...]
Alternative exchanges give traders an edge March 8, 2010 ANOTHER shake-up of London’s trading landscape is underway after the London Stock Exchange (LSE) announced on Monday that it would sell 9 per cent of Turquoise, its European trading facility, to three investment banks. Barclays, JP Morgan Cazenove and Nomura each bought a 3 per cent stake of Turquoise for £1m. The multiple owners of [...]
Blackstone-owned Travelport aims to reduce debts after $2bn fund-raising January 19, 2010 TRAVELPORT, the services group operating in the travel industry, yesterday revealed plans to raise $2bn (£1.22bn) to reduce its indebtedness. Travelport is currently around 70 per cent owned by Blackstone, the private equity group. Travelport will be raising $1.775bn through a public offering, and a further $225m will be raised by selling a seven per [...]
Travelport to get £2bn tag via flotation February 1, 2010 TRAVEL service company Travelport will be worth up to $3.45bn (£2.17bn) when it lists on the London Stock Exchange, the firm said yesterday. The group, whose travel distribution, travel intermediary and IT services include airline and hotel booking operation Galileo, announced a price range for its $1.78bn London listing valuing the company’s total equity at [...]
HSBC director set for £10m pay windfall March 1, 2010 HSBC’s investment banking chief Stuart Gulliver is set to pocket a bumper payout of over £10m, after profits at the global banking and markets arm jumped threefold to $10.48bn (£7bn) during the 2009 financial year. Gulliver, 50, who joined HSBC from university 30 years ago, will receive a bonus of £9m in deferred stock, as [...]
CITY VIEWS: BARCLAYS WORKERS ARE PROTESTING TOMORROW. DO THESE KINDS OF PROTEST MAKE ANY DIFFERENCE? August 5, 2009 UDAY BAROT FINANCIAL ADMINISTRATOR“No, I don’t think this sort of strategy works. Big banks don’t listen and just do what they want. The smaller voices aren’t heard so protesting, in my opinion, doesn’t make a big difference.” TOLU BABATOLA LEARNING AND DEVELOPMENT PROJECTS CO-ORDINATOR“No, I don’t think protesting makes much difference in such large corporations. [...]
CITY VIEWS: BARCLAYS WORKERS ARE PROTESTING TOMORROW. DO THESE KINDS OF PROTEST MAKE ANY DIFFERENCE? August 5, 2009 UDAY BAROT FINANCIAL ADMINISTRATOR“No, I don’t think this sort of strategy works. Big banks don’t listen and just do what they want. The smaller voices aren’t heard so protesting, in my opinion, doesn’t make a big difference.” TOLU BABATOLA LEARNING AND DEVELOPMENT PROJECTS CO-ORDINATOR“No, I don’t think protesting makes much difference in such large corporations. [...]
HSBC chief attacks bankers’ bonuses January 25, 2010 HSBC chairman Stephen Green has launched an attack on bankers’ bonuses branding the sums they have been receiving “inflated”. He said bankers would have to accept lower payouts in the future following the furore surrounding their remuneration packages. Green, who is also chairman of the British Bankers’ Association, said: “You’ve had bonuses paid off gross [...]
CITY MOVES | WHO’S SWITCHING JOBS January 12, 2010 KBC Peel Hunt The mid and small cap corporate broking firm has made three senior hires. Stuart Duncan joins Peel Hunt’s equity research team from The Royal Bank of Scotland. Mark McGuinness, previously co-head of sales trading at Numis Securities, joins as a director in the sales trading team. Duncan and McGuinness join Andrew Chapman [...]