FTSE hits lowest level since November on valuation fears January 28, 2010 RENEWED worries about the global economy dragged Britain’s top share index to its lowest close in nearly three months yesterday, with commodity stocks falling sharply and drugmaker AstraZeneca dipping on weak results. The FTSE 100 ended down 1.4 per cent, or 71.73 points, at 5,145.74, its lowest close since 6 November, after the index finished [...]
NEWS | IN BRIEF December 16, 2009 Galleon case talks are extended Discussions between prosecutors and lawyers for four people accused of insider trading in the sprawling Galleon hedge fund probe were extended by one month yesterday. The extension came a day after Galleon founder Raj Rajaratnam – the most prominent among 21 people accused in the insider trading case, which involves [...]
Sloane Robinson Partners share £61m in profits January 4, 2010 SLOANE Robinson, the City partnership famed for its high levels of compensation, saw profits tumble last year – but its managers still shared some £61m in profits between them. The amount shared between 14 senior managers fell more than 80 per cent from a record peak of £341m in 2007/8 to £61m in 2008/9, accounts [...]
London slumps to a five-week low led by bank and oil stocks January 27, 2010 BRITAIN’S top share index hit a five-week closing low yesterday, dragged down by energy stocks and banks ahead of the conclusion of a US Federal Reserve policy meeting. The FTSE 100 closed down 59.38 points, or 1.1 per cent, at 5,217.47, its lowest close since 18 December. The index gained 0.3 per cent on Tuesday, [...]
Take a punt on how much further British banking stocks can rise November 25, 2009 THE Bank of England’s secret deal which saw it lend ailing Royal Bank of Scotland and HBOS an astonishing £61.6bn last October was a timely reminder of just how bad the situation was this time last year. The global financial system was struggling to rebalance itself and many banks had either collapsed entirely or been [...]
UK banks caught up in Obama supertax January 14, 2010 BRITISH banks are on the hook for billions of dollars under US government plans to hit Wall Street with a $117bn (£72bn) 10-year levy. Barclays Capital, Royal Bank of Scotland and HSBC will fall within the scope of President Barack Obama’s charge, which is designed to recoup losses incurred by the Tarp scheme. Last night, [...]
RBS Sempra deal may close in New Year December 17, 2009 THE sale of RBS Sempra, the commodities business owned by the beleaguered Royal Bank of Scotland, could be completed as early as January, sources said yesterday. Four players – thought to be Deutsche Bank, Barclays Capital, Goldman Sachs and Morgan Stanley – have entered the closing stage of bidding. Although Deutsche Bank was reported to [...]
Barclays weighs up bid for BGI May 21, 2009 Talks between Barclays and private equity house BC Partners over a counter-bid for exchange-traded funds unit iShares are said to have cooled, after the bank entered talks to sell its entire Barclays Global Investors (BGI) division. Barclays was looking to attract new bids for iShares to trump the £3bn offer it received from CVC Partners. [...]
Barclays weighs up bid for BGI May 21, 2009 Talks between Barclays and private equity house BC Partners over a counter-bid for exchange-traded funds unit iShares are said to have cooled, after the bank entered talks to sell its entire Barclays Global Investors (BGI) division. Barclays was looking to attract new bids for iShares to trump the £3bn offer it received from CVC Partners. [...]
MILLION-DOLLAR MAN THAIN LEARNS ERROR OF HIS PRICEY OFFICE WAYS February 8, 2010 HAPPY days for John Thain, the former Merrill Lynch chief executive who demonstrated yesterday that not only has he managed to stage an impressive comeback on Wall Street, but has actually learnt a lesson on the way as well. Thain, of course, is best remembered among the financial community for the dual distinctions of having [...]