ARE YOU MORE WORRIED ABOUT THE EUROZONE THAN YOU WERE LAST WEEK? September 13, 2011 WILL DAVIS | LLOYDS “It’s been a dreadful week, but last week wasn’t too good either. This week’s news would imply a complete disaster, but personally I think it’s been a little overblown.” JOHN GRAVES | HHC “Certainly for the export sector this week has brought a lot of bad news. The euro has gone [...]
ICB helps push UK bank debt costs higher September 13, 2011 UK BANKS have seen the cost of their debt jump following the release of the final report from the Independent Commission on Banking (ICB). Despite escaping the worst of the sell-off in European bank stocks yesterday, Britain’s lenders saw the yields on their long-term bonds rise after the ICB said that around a fifth of [...]
StanChart lines up for Barclays’ Indian assets September 13, 2011 STANDARD Chartered and SBI Card are competing to buy Barclays’ India credit cards business, sources with direct knowledge of the matter said, as the British bank looks to reduce its exposure to unsecured lending in the country. Barclays has about 200,000 card holders in India and the book value of the business is roughly 2bn [...]
CELEBRITY TRADERS RAISE $12M ON BGC DAY September 13, 2011 RONNIE Wood is clearly in the wrong job – his masterful handling of a €2bn interest rates trade at BGC Partners, as reported in yesterday’s Capitalist, helped the brokerage beat last year’s total of $10m to raise a record $12m for global charities. Of course, credit should also be given to HRH Prince Harry, who [...]
How public opinion shapes economic debate September 13, 2011 LAST week we held a two-day forum to launch YouGov-Cambridge, a new think-tank that unites world-class thinkers with research data to understand the role that public opinion plays in decision-making within politics and business. Themed “Consumer networks and the diffusion of power” with guests such as Jimmy Wales, Steve Hilton, Nassim Taleb and Imran Khan, [...]
Northgate in line with forecasts September 13, 2011 Commercial van hire company Northgate said yesterday that despite tough economic conditions affecting UK and Spanish markets, trading has been in line with the board’s expectations. Underlying hire revenue per rented vehicle continues to improve, with an increase of over one per cent since the beginning of the financial year.
Numis hires former Amazon exec September 13, 2011 Investment bank and broker Numis has taken on Brian McBride, the former head of Amazon’s UK operations, to sit on its advisory board. Numis set up the board to give the firm access to industry experts in a bid to widen its business. McBride follows in the footsteps of former BP chief executive and Vallares [...]
Entertainment One gets some takeover interest September 13, 2011 ENTERTAINMENT One has hired banks to help it field takeover interest, two sources told City A.M. yesterday. The firm behind the Scream 4 film and the Peppa Pig children’s television show is expected to announce the interest to the stock market as soon as this morning. The group is understood to have asked JP Morgan [...]
How well are the Liberal Democrats performing as part of the coalition? September 13, 2011 This week, we are asking members of our City A.M. readers’ panel, run with PoliticsHome, how they rate Nick Clegg’s Liberal Democrats ahead of the party conference season. As the Lib Dems gear up for their conference in Birmingham, starting on Saturday, we want to take the temperature of the junior coalition partner. How has [...]
Cairn slumps on Greenland well setback September 13, 2011 SHARES in Cairn Energy fell as much as nine per cent yesterday after the company said that its latest well off the coast of Greenland had failed to find oil. The FTSE 100-listed oil and gas explorer said it was preparing to plug and abandon the Gamma-1 offshore well, disappointing investors looking to the company to [...]