Broker views give US indices a boost November 17, 2009 US STOCKS rose to fresh 13-month highs yesterday as upbeat broker views on improving prospects for two Dow components offset disappointing holiday spending outlooks from Target and Home Depot. Even so, the underlying tone was negative as investors fretted about the strength of the recovery and the recent rally, and more stocks fell than rose. [...]
EasyJet warns of a tough winter ahead November 17, 2009 BUDGET airline easyJet yesterday warned the aviation industry is in for a tough winter as it revealed its pre-tax profit halved over the past year despite customers trading down to cheaper transport options. Reported pre-tax profit at the airline fell 50.4 per cent to £54.7m in the year to September, down from £110.2m in 2007, [...]
FTSEdrops as windfall tax worries offset mining gains December 7, 2009 Britain’s top shares ended 0.2 per cent lower yesterday, with banks weak on concerns over a possible windfall tax, offsetting modest gains in miners and energy stocks which rebounded from earlier losses. The FTSE 100 closed 11.70 points lower at 5,310.66 points, paring some losses from earlier in the session when the index dropped to [...]
Slimmed down RBS?and Lloyds are attracting clever money January 4, 2010 BANKS have had a torrid time for the past year and a half. But there were signs of life yesterday, at least for some. Royal Bank of Scotland (RBS) and Lloyds Banking Group had a good start to the first trading day of 2010, rising more than 9 per cent and 3 per cent respectively. [...]
ON THE MEND (OR SO KING HOPES) November 11, 2009 THE BANK of England hiked its growth forecasts for the next three years yesterday in its clearest signal yet that it believes the UKeconomy is finally on the mend. The Bank’s new central projections are for output to grow by 2.1 per cent next year and by four per cent in 2011, based on market [...]
BarCap poaches Rothschild’s Marsaglia amid growth drive September 7, 2009 BARCLAYS Capital has taken its plans to become a global investment-banking player up a gear by naming Stefano Marsaglia, the respected Rothschild banker, as chairman of its financial institutions group (FIG). In the latest in a series of high-profile hires Barclays has snapped up the Italian heavyweight, who has spent the last 17 years at [...]
BarCap poaches Rothschild’s Marsaglia amid growth drive September 7, 2009 BARCLAYS Capital has taken its plans to become a global investment-banking player up a gear by naming Stefano Marsaglia, the respected Rothschild banker, as chairman of its financial institutions group (FIG). In the latest in a series of high-profile hires Barclays has snapped up the Italian heavyweight, who has spent the last 17 years at [...]
Holliday to join board at BoA September 21, 2009 DUPONT chairman Charles Holliday is expected to be added to Bank of America’s (BoA) board of directors. The bank’s directors were due to agree the appointment in a board meeting, in which they were also due to be briefed on options if the bank’s chief executive Kenneth Lewis is charged with civil fraud. Last week, [...]
Dubai’s debts spook lenders November 26, 2009 THE POOR credit status of Dubai’s main banks has sent shockwaves through the financial world. Investors are running scared as the emirate – which has experienced huge economic growth over the past decade – runs into trouble. Emirates Bank International, National Bank of Dubai, Mashreqbank and Dubai Islamic Bank were all put on credit watch [...]
Bankers grab luxury homes October 22, 2009 IN a fresh sign that bankers are feeling comfortable enough to splash the cash, enquiries for prime properties in Kensington and Chelsea have jumped in recent weeks, according to estate agents Knight Frank. Goldman Sachs was recently under the spotlight for awarding its 30,000 staff £500,000 each in bonuses, with some top traders set to [...]