Tax benefits on equity would help SMEs thrive August 7, 2011 MARKET sentiment turned dramatically for the worse last week as political worries and disquieting economic data on both sides of the Atlantic outweighed relief at the threat of a US debt default being narrowly averted. Amid concerns deficit reduction plans will hit global growth prospects, UK politicians have focused on how the financial services sector [...]
INVESTMENT BANK OF THE YEAR | The Shortlist day 3 June 21, 2011 This hasn’t been the easiest of times for investment banks but there are signs that deal activity, at least, is picking up to more normal levels. We have chosen JP Morgan because, as ever, it has shown itself to be strongly placed in most markets. Bank of America Merrill Lynch is something of a recovery [...]
Toronto has more than ore February 15, 2011 Clearly, the planned merger of the Toronto and London stock exchanges makes the main Canadian exchange of great interest to UK investors. That is particularly true for those interested in natural resources, mining, energy and clean technology stocks. Energy and natural resources giants such as Suncor Energy and Canadian Natural Resources are already listed in [...]
Mergers are needed to keep bourses in business February 13, 2011 TWO blockbuster stock exchange tie-ups were announced last week, sparking a rush of speculation that others may follow. But what are the forces behind this drive to consolidate, and is it sustainable? On Wednesday, the London Stock Exchangeagreed a merger with Canada’s Toronto Metals Exchange, to establish the world’s biggest trading exchange by listings, with [...]
At a glance: George Osborne’s first comprehensive spending review October 20, 2010 SPENDING FIGURES This fiscal year current expenditure will be £637.3bn. In 2011-12, current spending will be £651.1bn, followed by £664.5bn in 2012-13, £678.6bn in 2013-14 and then £692.7bn in 2014-15. The government will pay £43.3bn of gross government debt interest this fiscal year followed by £46.5bn in 2011-12, £52.4bn in 2012-13, £57.8bn in 2013-14 and [...]
Citi and Hands arrive in court October 18, 2010 A NEW York jury was yesterday asked to decide who is lying in a dispute between Guy Hands and Citigroup over Hands’s £4bn buyout of embattled record label EMI in 2007. Hands and his onetime Citigroup banker David Wormsley sat feet away from each other as the trial, which is expected to last three weeks, [...]
City hiring market gets summer surge September 19, 2010 CITY recruitment underwent a laesummer surge in August, according to research from financial services recruitment firm Astbury Martin. The company said the number of new City job vacancies created in August jumped 5,031, up seven per cent from July’s 4,713. The figure was also up 21 per cent on the number of new City jobs [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 27, 2010 FINANCIAL TIMES SOROS SET TO BUY STAKE IN BOMBAY EXCHANGE George Soros, the billionaire investor, is in final talks to buy Dubai Holding’s 4 per cent stake in the Bombay Stock Exchange, as foreign investor interest in India’s fast-growing financial markets rises, people close to the matter said. Soros Fund Management is planning to pay [...]
Morgan Stan is top in global IPO rankings June 30, 2010 MORGAN Stanley has topped the underwriting league for initial public offerings (IPOs) in the first half of the year. A few large deals helped propel the Wall Street bank to first place, up from its number three spot at this time last year. It underwrote 36 deals with estimated proceeds of $5.9bn (£3.9bn) in the [...]
Cowdery buys Axa’s UK arm in £2.8bn deal June 24, 2010 RESOLUTION will reshuffle the leadership of its insurance consolidation project after agreeing to pay £2.8bn for the British life and pensions businesses of French group Axa yesterday. Axa’s UK arm will be merged with Resolution’s existing holding, Friends Provident, to create Friends Life. Trevor Matthews will stay as chief executive but David Hynam, Graham Harvey [...]