Myners angry at banks as bonus row escalates October 18, 2009 CITY minister Lord Myners yesterday expressed his anger at large banking bonuses, as speculation around future compensation at UK banks threatened to cause the government further embarrassment. Speaking on the BBC’s Andrew Marr show, Myners said: “We are simply not going to tolerate high levels of remuneration which are not justified and earned. The nation [...]
WHERE WILL XSTRATA LOOK FOR DEALS NOW THE ANGLO MERGER IS OFF? October 15, 2009 RICHARD CURR PRIME CFDSXstrata can find better deals than Anglo, so it’s no surprise it has walked away. The Anglo that Xstrata was looking at a year ago looks somewhat different. We suspect Xstrata might go for some low hanging fruit, as in Lonmin or First Quantum, but we wouldn’t rule out another approach for [...]
WHERE WILL XSTRATA LOOK FOR DEALS NOW THE ANGLO MERGER IS OFF? October 15, 2009 RICHARD CURR PRIME CFDSXstrata can find better deals than Anglo, so it’s no surprise it has walked away. The Anglo that Xstrata was looking at a year ago looks somewhat different. We suspect Xstrata might go for some low hanging fruit, as in Lonmin or First Quantum, but we wouldn’t rule out another approach for [...]
Concern over Dubai’s debts takes toll on Britain’s shares November 26, 2009 Britain’s top shares ended at a three-week closing low yesterday, pressured by hefty falls in the banking sector as concerns over Dubai’s ability to pay its debts took a toll on confidence. The FTSE 100 ended down 3.2 per cent, or 170.68 points, at 5,194.13, its lowest close since November 6, and losses on the [...]
Rising stars ofCity fight off the downturn December 6, 2009 ONE hundred of the City’s most precocious young stars have been honoured in a round-up of the hottest names to watch in the world of finance over the coming year. The list of 100 Rising Stars, compiled by Financial News, includes Goldman Sachs emerging markets trader Jan Sramek, who at the tender age of 22 [...]
Hike in commodity costs hits miners and energy stocks November 19, 2009 Britain’s top share index fell 1.4 per cent yesterday as sagging commodity prices dented miners and energy stocks, while reduced risk appetite hurt banks. The FTSE 100 ended down 74.43 points at 5267.70, its biggest daily fall for three weeks, after closing 0.1 per cent lower on Wednesday. Miners were the biggest drag on the [...]
Better outlook for banks one year after Lehman September 14, 2009 WHEN Lehman Brothers collapsed a year ago, it seemed that the world would never be the same. Global markets wobbled and once giant investment banks were crippled as sub-prime mortgages and credit default swaps unravelled and we braced ourselves for a worldwide recession. Wall Street had shrunk to less than a third of its pre-Lehman [...]
Upbeat economic sentiment boosts FTSE to above 5,000 October 5, 2009 THE FTSE 100 closed higher yesterday after US Institute for Supply Management non-manufacturing data came in better than forecast, with miners and banks the best performing sectors. The index closed up 35.63 points, or 0.7 per cent, at 5,024.33, after tumbling nearly 60 points on Friday to a near three-week closing low below the 5,000 [...]
CITY’S FINEST TURN OUT IN STYLE TO HONOUR THE WOMEN OF THE FUTURE November 12, 2009 CORPORATE party-goers have been busy this week with a string of shindigs in a row, and last night saw the City’s female contingent descending upon the Marriott hotel in Grosvenor Square for the Women of the Future awards. The ladies weren’t short of powerful supporters, either – even Tory leader David Cameron showed up to [...]
KRAFT November 9, 2009 KRAFT has enlisted a syndicate of banks to agree to a £5.5bn credit facility to finance the cash portion of its bid and go towards paying down some of Cadbury’s debt, should the bid succeed. Citigroup Global Markets, Deutsche Bank Securities and HSBC Securities served as joint bookrunners, while Citibank and Deutsche Bank Cayman Islands [...]