…as police gas protesters September 24, 2009 RIOT police in Pittsburgh fired tear gas at anti-capitalist protesters yesterday as up to 2,000 activists barricaded the streets in an unauthorised demonstration. Police told the protest group, calling itself G20 Project Resistance, to disperse after they gathered a few hundred metres away from the convention centre. But the demonstrators reacted angrily, using rubbish bins [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 24, 2009 FINANCIAL TIMES DNO AIMS TO SAVE KURDISH VENTUREShares in DNO International, the Norwegian oil company, plunged more than 45 per cent on Thursday as trading resumed in the stock for the first time since Kurdish authorities threatened to cancel its licence to export oil from Iraq. Helge Eide, chief executive of DNO, told the Financial [...]
Darling drafts in APS enforcer September 24, 2009 Chancellor Alistair Darling has recruited former management consultant and private equity boss Stephan Wilcke to help enforce the terms of the government’s £585bn asset protection scheme for banks. Wilcke will lead a team of up to 50 charged with ensuring that banks live up to their side of the bargain.
M&A fails to recover with rally September 24, 2009 The return of confidence to the markets has failed to boost M&Aactivity, according to new data. Global deal values in the first nine months fell 37 per cent to $1,620bn (£1,010bn), data provider Dealogic said, the lowest since 2004. Third-quarter deal volume of $412.4bn was down 34 per cent on the second quarter.
BBA chief hits back at Turner September 24, 2009 Angela Knight, the chief executive of the British Bankers’ Association, last night launched a barely-disguised broadside against Financial Services Authority chairman Lord Adair Turner, after the watchdog chief aired a series of criticisms of the City. She said regulators should not “demonise” bankers.
Nomura cash call to raise up to 3.5bn September 24, 2009 JAPANESE brokerage Nomura is to raise up to 511bn yen (£3.5bn) in a capital-raising initiative, in an effort to fund overseas expansion and bolster its capital position in advance of international regulatory reform. The broker, Japan’s largest by sales, launched its second stock sale of the year, after raising 270bn yen in March, taking advantage [...]
Twitter to secure $100m new capital September 24, 2009 TWITTER, the micro-blogging website, is closing in on a deal that would give it access to $100m (£62m) in new venture capital. The cash injection, understood to be coming from investment houses T. Rowe Price and Insight Venture Partners, would value the website at $1bn – more than triple the worth placed on the company [...]
Central bankers trim stimulus September 24, 2009 FOUR of the world’s top central banks said yesterday they would scale back injections of US dollars into their banking systems, as markets being to stabilise. The US Federal Reserve said it would begin to scale back short-term cash auctions in early 2010, while the European Central Bank, the Swiss National Bank, and the Bank [...]
PwC’s $150bn Lehman claim September 24, 2009 LEHMAN Brothers’ European administrators PricewaterhouseCoopers (PwC) are seeking around $150bn (£93bn) from the parent company. A spokeswoman for PwC told City A.M. the company had already filed a claim for $50bn on behalf of European affiliates of the company and would seek another $100bn before a 22 October deadline. Lehman’s bankruptcy last year, which triggered [...]
Lloyd’s profits up 39pc amid bond rebound September 24, 2009 LLOYD’S of London, the City’s 321-year old insurance market, yesterday unveiled bumper first-half profits after a recovery in corporate bond markets helped boost returns on its investment portfolio. Chief executive Richard Ward said the market had booked profits of £1.32bn during the first six months of the year – a 39 per cent rise on [...]
