Fee bonanza for Treasury APS advisers September 14, 2009 INVESTMENT banking and legal advisers have picked up £26.5m for their work advising the government on its Asset Protection Scheme (APS), according to data released by the Treasury under the Freedom of Information Act. Bankers from investment banks Citigroup, Credit Suisse and asset manager BlackRock have been working with the Treasury’s Financial Stability Unit in [...]
Fee bonanza for Treasury APS advisers September 14, 2009 INVESTMENT banking and legal advisers have picked up £26.5m for their work advising the government on its Asset Protection Scheme (APS), according to data released by the Treasury under the Freedom of Information Act. Bankers from investment banks Citigroup, Credit Suisse and asset manager BlackRock have been working with the Treasury’s Financial Stability Unit in [...]
Lloyds gets support for a cash call September 9, 2009 LLOYDS Banking Group executives believe they have secured sufficient appetite from investors for a share placing that would allow the bank to reduce its participation in the government’s costly Asset Protection Scheme (APS), City A.M. can reveal. The bank has been sounding out selected investors over the past few weeks and has received assurances that [...]
Profits spike at Kingfisher September 8, 2009 KINGFISHER, Europe’s largest home improvement retail group, yesterday rushed out first-half profit figures following an administrative error, though the better-than-expected results cheered investors and sent its shares to a two-year high. The group, which owns B&Q in Britain and Castorama in France, said it expects to report an underlying pre-tax profit of between £285m and [...]
Profits spike at Kingfisher September 8, 2009 KINGFISHER, Europe’s largest home improvement retail group, yesterday rushed out first-half profit figures following an administrative error, though the better-than-expected results cheered investors and sent its shares to a two-year high. The group, which owns B&Q in Britain and Castorama in France, said it expects to report an underlying pre-tax profit of between £285m and [...]
ITV board wrangles over Ball’s remuneration deal September 6, 2009 The ITV nominations committee is understood to be in dispute with Tony Ball over the “considerable” remuneration package the former BSkyB chief executive is demanding to become its new chief executive. ITV has been reluctant to appoint Ball, who earned more than £25m as boss of BSkyB between 1999 and 2003, as a number of [...]
Funds buy up UK property August 10, 2009 PROPERTY fund managers are storming back into the UK market, believing the correction has now ended and bricks and mortar assets are looking cheap. Managers believe the collapse of the property bubble has created a wealth of investment opportunities, with Henderson’s Herald fund and F&C’s Commercial Property Trust both diving back in to the UK [...]
Ex-Ford boss named as the new chairman of BHP Billiton August 4, 2009 BHP Billiton, the world’s largest miner, yesterday said that ex-Ford chief executive Jac Nasser would be its new chairman. Nasser, who has been a non-executive director at BHP since 2006, will step into incumbent Don Argus’ shoes when he steps down next year after a decade at the helm. He beat off competition from John [...]
Ex-Ford boss named as the new chairman of BHP Billiton August 4, 2009 BHP Billiton, the world’s largest miner, yesterday said that ex-Ford chief executive Jac Nasser would be its new chairman. Nasser, who has been a non-executive director at BHP since 2006, will step into incumbent Don Argus’ shoes when he steps down next year after a decade at the helm. He beat off competition from John [...]
BSkyB and Deloitte bosses net millions August 4, 2009 THE senior partner of accountancy firm Deloitte, John Connolly, and the chief executive of BSkyB, John Darroch, have been awarded pay packages worth millions. Connolly, whose firm Deloitte is the auditor of the part-nationalised Royal Bank of Scotland (RBS), grabbed an annual pay packet of £5.3m, benefiting from Deloitte’s profit-sharing scheme as the company earned [...]