EMEA investment banking fees lag peers across globe October 6, 2010 INVESTMENT banking fees in Europe, the Middle East and Africa (EMEA) slipped far behind the rest of the world over the first three quarters of the year, with the region’s banks taking a 15.2 per cent cut in fees in comparison to an 8.7 per cent global increase. Globally, the fee income pool for investment [...]
Betfair investors agree IPO range of up to £14 per share October 6, 2010 BETFAIR will announce its plan to float on the Stock Exchange today after a meeting of the company’s 700 shareholders voted in favour of an initial public offering (IPO) at a meeting last night. City A.M. understands the price range will be between £11 and £14 per share, valuing the company at between £1.16bn and [...]
BA, AA and Iberia name tie-up routes October 6, 2010 British Airways, American Airlines, and Spain’s Iberia unveiled four new routes and promised passengers lower prices and flight flexibility as they launched an $8bn (£5bn) transatlantic joint business yesterday. The trio are strengthening their existing oneworld alliance ties — but stopping short of a full financial merger because of strict US laws that bar foreign [...]
DEUTSCHE MAN JOINS GOVERNMENT TEAM October 6, 2010 Anthony Odgers, a senior member of the corporate restructuring team at Deutsche Bank, has joined the body responsible for looking after the government’s assets, the Shareholder Executive, as it steps up efforts to find buyers for assets including the Tote, Royal Mail and the Student Loans portfolio. He joined Deutsche Bank in May 2007 as [...]
Carriers still sore point for defence cuts October 6, 2010 LIAM Fox yesterday confirmed that the Trident nuclear deterrent would be replaced, earning him a huge round of applause at the Tory conference, but the future of two aircraft carriers remains unclear. “The first duty of the government is defence of the realm. That is why we will maintain Britain’s nuclear deterrent and will go [...]
Hague acts to assuage fears coalition is too pro-Europe October 6, 2010 WILLIAM Hague yesterday pledged to enshrine the sovereignty of the British Parliament over the European Union, in a bid to quell fears among Tory activists that the coalition government is too pro-Europe. Delegates at the Tory party conference gave the foreign secretary a standing ovation, after he said he would “reaffirm once and for all [...]
Pilot sports events established to boost participation among young October 6, 2010 SCHOOLS from nine areas in England will participate in a pilot sports event next year as part of efforts to ensure the 2012 Olympics gets more youngsters playing competitive games. Announcing the event at the Tory conference, culture secretary Jeremy Hunt said only around one in five children regularly plays sport against other schools. “We [...]
Prada mulls a Hong Kong listing launch October 6, 2010 ITALIAN fashion house Prada is studying an initial public offering (IPO) in Hong Kong for the first half of 2011. Prada, which has scrapped an IPO four times in the past ten years, may raise more money through a primary listing in Hong Kong than in Milan because individual investors are more active in Asia, [...]
Greggs in slim sales rise thanks to bacon rolls October 6, 2010 HIGH street bakery chain Greggs yesterday reported a narrow rise in third-quarter sales thanks to its breakfast range. The group, which has 1,451 stores and serves six million customers every week, said like-for-like sales increased 0.2 per cent for the 13 weeks to 2 October. Greggs said its bacon roll was the group’s best-selling sandwich [...]
Marston’s is boosted by pub grub October 6, 2010 PUBS and brewing group Marston’s said earnings for the year to 2 October were in line with its expectations, as increasing food sales boosted revenues at its managed pubs division. Like-for-like sales at the managed pubs unit were 1.7 per cent ahead of last year, as food sales, which account for about 40 per cent [...]