Russian bank pounces for Austria’s VBI September 8, 2011 RUSSIAN lender Sberbank has snapped up Austrian multinational Volksbank International (VBI) in its second multi-million euro purchase of the year. An adviser on the deal said that it provides an example of how Western European banks are missing out on growth opportunities due to being embroiled in the region’s debt crisis. At a stroke, the [...]
What the other papers say this morning February 20, 2011 FINANCIAL TIMES BUSINESS JET TRAVEL REBOUNDS AS RICH SPLASH OUT FOR PRIVACY Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again. The number of business flights – which includes celebrity, state and business hire – grew [...]
Profits double at Persimmon as sales falter March 1, 2011 HOUSEBUILDER Persimmon warned yesterday that the weak mortgage market will continue to dampen sales this year, after almost doubling its pre-tax profit to £153.9m in 2010. While Persimmon sold 4.5 per cent more homes last year, the firm said completions tailed off towards the end of 2010 amid a tough mortgage market and economic fears. [...]
Fall in London house supply July 18, 2011 A DROUGHT of available residential property in London is propping up prices and rents, a survey in the capital revealed yesterday. June’s stock for sale was down 20 per cent on the previous year, while there was a 30 per cent fall in available rental properties, according to estate agents Douglas & Gordon. “The shortage [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 22, 2011 FINANCIAL TIMES LLOYDS LOOKS TO EASE DISPOSAL Lloyds Banking Group is in early talks with the City regulator about easing the capital burden for prospective buyers of some of its branches in an effort to remove one of the biggest obstacles to the sale. It hopes to pave the way for a bidder to qualify [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 22, 2011 FINANCIAL TIMES LLOYDS LOOKS TO EASE DISPOSAL Lloyds Banking Group is in early talks with the City regulator about easing the capital burden for prospective buyers of some of its branches in an effort to remove one of the biggest obstacles to the sale. It hopes to pave the way for a bidder to qualify [...]
Blackstone to investigate Northern Rock acquisition June 19, 2011 US PRIVATE equity giant Blackstone is in line to receive an information memorandum on Northern Rock, making the firm one on a short list of potential buyers for the nationalised lender when it is auctioned later this year. A source familiar with the matter told City A.M. that Blackstone will request the memorandum, due to [...]
Blackstone to investigate Northern Rock acquisition June 19, 2011 US PRIVATE equity giant Blackstone is in line to receive an information memorandum on Northern Rock, making the firm one on a short list of potential buyers for the nationalised lender when it is auctioned later this year. A source familiar with the matter told City A.M. that Blackstone will request the memorandum, due to [...]
Investors in fine wines toast gains July 18, 2011 FINE wine remains a good choice for investors, who enjoyed steady gains of over 13 per cent during the first six months of 2011, according to Bordeaux Index. Gary Boom, founder and MD of the fine wine merchant, said that 15 per cent growth in wine sales in the first quarter of the year reinforced [...]
Investors in fine wines toast gains July 18, 2011 FINE wine remains a good choice for investors, who enjoyed steady gains of over 13 per cent during the first six months of 2011, according to Bordeaux Index. Gary Boom, founder and MD of the fine wine merchant, said that 15 per cent growth in wine sales in the first quarter of the year reinforced [...]