Lloyds plans to axe 5,000 further jobs November 10, 2009 ANOTHER 5,000 jobs will be lost at Lloyds Banking Group, bringing the total number of sackings to 12,500 since the credit crunch began. Lloyds employees were yesterday warned by banking experts that there could be up to 30,000 sackings before the Lloyds-HBOS merger is complete. Unions branded the cuts, which were announced on the same [...]
EX-BANKER TRIES HIS LUCK WITH SEX TOYS November 9, 2009 OF ALL the career paths followed by former City types who have lost jobs in the recession, this one really does take the biscuit. Matt Thomas, a former manager in corporate finance at Seymour Pierce, decided to make the most of the opportunity when he was made redundant last November by setting up a joint [...]
KRAFT November 9, 2009 KRAFT has enlisted a syndicate of banks to agree to a £5.5bn credit facility to finance the cash portion of its bid and go towards paying down some of Cadbury’s debt, should the bid succeed. Citigroup Global Markets, Deutsche Bank Securities and HSBC Securities served as joint bookrunners, while Citibank and Deutsche Bank Cayman Islands [...]
Remember, remember, to buy in November November 9, 2009 NOVEMBER is often considered one of the worst months of the year: the days are getting shorter, the holidays are still at least six weeks away and it is markedly colder and wetter. In short, not a month to get that excited about. That is, unless you are an investor. Forget the dismal weather and [...]
THE LONDON REPORT November 9, 2009 BRITAIN’S top share index hit its highest closing level in more than two weeks yesterday as the G20’s pledge to keep stimulus in place bolstered investors’ risk appetite, with miners and oil stocks leading the charge. The FTSE 100 closed up 92.46 points, or 1.8 per cent, at 5,235.18, the highest close since 23 October, [...]
Bonus row to reignite at Barclays and HSBC November 8, 2009 BARCLAYS and HSBC will risk stirring up more public anger over bankers’ pay tomorrow when they are likely to report strong third quarter results – and bumper bonuses to match. Both Barclays and HSBC avoided taking Government cash to survive the global financial crisis but that is unlikely to protect either from criticism over the [...]
WHAT ARE YOU EXPECTING FROM BARCLAYS AND HSBC THIS WEEK? November 8, 2009 DAVID BUIK BGC PARTNERSI’m expecting both results to be exceptionally good, both Barclays and HSBC have been buoyed by investment banking. HSBC will likely make another significant writedown from its US consumer lending business which has been a noose around its neck.JUSTIN URQUHART STEWART 7 INVESTMENT MANAGEMENTThese are going to be very good results and [...]
Gaming group Las Vegas Sands seeks up to 2bn in a Hong Kong share listing November 8, 2009 Gaming company Las Vegas Sands is set to raise up to HK$25.95bn (£2bn) through an initial public offering of shares in its Macau business, according to sources with direct knowledge of the IPO. The company is selling 1.87bn shares at HK$10.38 to HK$13.88 (80p -108p) per share, the sources said. The range gives an earnings [...]
Stocks looking higher for now but resources the key November 8, 2009 UK and European stock markets are set to open higher this morning, following on from Friday’s bounce-back from the initial sell-off which followed the all-important US employment data. GFT is quoting the FTSE 100 index to open up 24 points from Friday’s close of 5,142. The German DAX is also called higher, up 25 points [...]
BNP Paribas books 45pc rise in profit November 5, 2009 INVESTMENT banking and acquisitions helped France’s BNP Paribas to beat forecasts with higher third-quarter profits, but it was silent about whether it may buy parts of ailing British banks. Assets bought by BNP?from Fortis boosted the eurozone’s second-largest bank after Spain’s Santander, as well as taking investment banking and wealth management market share from rivals [...]