Santander to raise billions in Brazil IPO September 21, 2009 SANTANDER is to raise up to $7.3bn (£4.5bn) via an initial public offering of shares in its Brazilian subsidiary, the bank said yesterday. The Spanish bank – the world’s second largest – said it would sell shares constituting 16.2 per cent of the division, which will trade on the Brazilian stock exchange and the New [...]
SocGen chief seeks deals amid reforms September 21, 2009 SOCIETE Générale (SocGen) is on the lookout for a large-scale acquisition in private banking, chief executive Frédéric Oudéa said yesterday, as he warned that the landscape in the financial sector is set to change immeasurably with new capital requirements. SocGen’s chief executive of private banking Daniel Truchi signalled a major acquisition, saying that the unit [...]
Northern Foods finance director in shock departure September 21, 2009 FOX biscuits maker Northern Foods yesterday stunned the City when it said its finance director Andrew Booker would stand down in December, just under a year after joining the company. The group, which also makes Goodfella’s pizzas, said Booker will be replaced by Simon Herrick, a former finance director from electricals firm Kesa. Herrick last [...]
City of London Police launch appeal to capture organised crime group September 21, 2009 THE City of London Police yesterday appealed for the public to help catch two men believed to part of an organised crime group responsible for ten of thousands of pounds worth of theft. The force responsible for law and order in the Square Mile said that the men were caught on CCTV stealing nearly £5,000 [...]
GM to discuss plant’s future September 21, 2009 GM Europe is forming a group to discuss the future of Opel's plant in Antwerp, Belgium and will give details on its restructuring plan after talks are concluded, it said yesterday. Magna and Russian partner Sberbank struck a deal to buy a majority stake of Opel from GM two weeks ago. They plan to cut [...]
Banca Popolare to issue bond September 21, 2009 Italy’s Banca Popolare de Milano is to issue a state-backed “Tremonti” bond worth €500m (£453m). The bank, the second to issue the type of bond named after economy minister Giuliano Tremonti, said it had met government requirements to launch the issue within the next 15 days. A Tremonti bond is issued by a bank and [...]
Lily Allen pens anti-piracy blog September 21, 2009 Pop star Lily Allen is rallying fellow artists in a war against online piracy. She has set up a blog where she posts messages from high-profile supporters of her cause. The news come a week after an outburst from the outspoken pop star against file-sharing, which she said was a “disaster” for fledgling artists.
Goldshield faces battle for takeover September 21, 2009 SHARES in Goldshield, the maker of appetite suppressant drug Appesat, jumped yesterday after the management of the pharmaceutical business confirmed it is working on a counter-bid to trump the 162m cash offer by bid vehicle AIT announced last week Goldshield’s executive directors, chaired by former government drugs tsar Dr Keith Hellawell, confirmed they were trying [...]
Yacht makers stay afloat in recession September 21, 2009 THE UK superyacht sector has remained buoyant in the recession, with revenue growing 15 per cent year-on-year, according to figures released by the industry’s trade body. Superyacht UK, which represents over 160 member companies involved in the superyacht manufacturing business, said that revenue has increased from £350m to £410m over the year. The UK figures [...]
HSBC hints at deal for ING private bank September 21, 2009 HSBC is actively looking to purchase assets in private banking, it said yesterday, reigniting expectations that the bank soon wrap up a deal for units put up for sale by bailed-out Dutch financial group ING. Alexandre Zeller, chief executive of HSBC Private Bank (Suisse) confirmed that Europe’s largest bank was alive to potential acquisition opportunities, [...]