Bank hate is exaggerated and simplistic August 3, 2009 IF WE are to believe most commentators, it is an outrage that Barclays and HSBC were able to report decent profits yesterday. The main reason, apparently, is that there are “fears” that lending remains too tight, and that the dreaded “bonus culture” will return. Needless to say, had the banks reported a collapse in earnings, [...]
Bank hate is exaggerated and simplistic August 3, 2009 IF WE are to believe most commentators, it is an outrage that Barclays and HSBC were able to report decent profits yesterday. The main reason, apparently, is that there are “fears” that lending remains too tight, and that the dreaded “bonus culture” will return. Needless to say, had the banks reported a collapse in earnings, [...]
Nomura cash call to raise up to 3.5bn September 24, 2009 JAPANESE brokerage Nomura is to raise up to 511bn yen (£3.5bn) in a capital-raising initiative, in an effort to fund overseas expansion and bolster its capital position in advance of international regulatory reform. The broker, Japan’s largest by sales, launched its second stock sale of the year, after raising 270bn yen in March, taking advantage [...]
BlackRock wants own trading platform September 13, 2009 BLACKROCK plans to create its own global trading platform which could help save its clients significant amounts of money in trading fees. The asset manager, set to become the world’s largest money manager with roughly $3 trillion (£1.79 trillion) in assets when it buys Barclays Global Investors (BGI) later this year, is in the early [...]
Three-way clash among MPC over QE November 18, 2009 TENSIONS on the Bank of England’s monetary policy committee (MPC) came to a head in November as members clashed in a three-way split over the way forward for its quantitative easing (QE) policy, the minutes of its last meeting showed yesterday. The committee voted unanimously to keep interest rates on hold at 0.5 per cent [...]
Osborne gets it wrong on cash bonuses October 26, 2009 AS bizarre policies go, the Tories’ latest thinking on bank bonuses takes some beating. For this year only, Britain’s commercial banks will not be allowed to pay more than a trivial bonus in cash – but they will be able to pay as many millions as they want in shares. The rule will only apply [...]
Osborne gets it wrong on cash bonuses October 26, 2009 AS bizarre policies go, the Tories’ latest thinking on bank bonuses takes some beating. For this year only, Britain’s commercial banks will not be allowed to pay more than a trivial bonus in cash – but they will be able to pay as many millions as they want in shares. The rule will only apply [...]
CIT to defer interest payout on notes as it fights to escape bankruptcy filing September 1, 2009 FLOUNDERING US bank CIT has said that it will not be able to make a 15 September interest payment on a tranche of 2067 notes. The bank said in a filing with the Securities and Exchange Commission (SEC) that it could not find an alternative method of payment, meaning that it would have to “mandatorily [...]
CIT to defer interest payout on notes as it fights to escape bankruptcy filing September 1, 2009 FLOUNDERING US bank CIT has said that it will not be able to make a 15 September interest payment on a tranche of 2067 notes. The bank said in a filing with the Securities and Exchange Commission (SEC) that it could not find an alternative method of payment, meaning that it would have to “mandatorily [...]
Banks take FTSE 100 lower after US figures disappoint October 15, 2009 THE FTSE 100 closed lower on yesterday as banks fell after US banking earnings failed to meet some expectations, while miners tracked metal prices down. The index ended down 0.6 per cent, or 33.15 points at 5,222.95, retreating from a 56-week closing high set on Wednesday. Although third-quarter earnings from Goldman Sachs and Citigroup came [...]