FSA moves to ward off threat of bank runs May 28, 2012 BRITISH banks will be obliged to display information in branches about how the government insures their deposits up to a value of £85,000, the FSA said yesterday. From September onwards, all retail deposit takers will have to display posters and stickers letting customers know they are insured if their bank goes bust and giving details of the [...]
Dixons braces for looting and riots in Greece May 28, 2012 DIXONS has spent the last few weeks stockpiling security shutters to protect its nearly 100 stores across Greece in case of riots. Dixons, Europe’s second biggest electrical retailer, owns Greece’s market leading but loss-making Kotsovolos chain, which has a 25-per cent market share selling iPads and laptops as well as washing machines, televisions and air [...]
CITY VIEWS | DO YOU KNOW HOW MUCH MONEY IS COVERED BY DEPOSIT PROTECTION? May 28, 2012 RICHARD BARNES ABERDEEN ASSET MANAGEMENT I wouldn’t like to guess. It should be publicised. A whole industry has occurred for bank charge claims and there are no doubt more issues that people aren’t aware of – so the more information the better. ZAZA DARILMAZ EAD I have no idea. Not a clue at all. But [...]
Marubeni is set to buy US grain trader Gavilon May 28, 2012 MARUBENI, the Japanese trading house, is nearing a deal to buy US grain trader Gavilon for more than $5bn (£3.2bn) and could announce the transaction as early as today, according to people familiar with the deal. Japan’s fifth-largest trading company has been in advanced talks to buy Gavilon since early May. The company has confirmed [...]
Misys gets go-ahead for sale May 28, 2012 Financial software firm Misys said yesterday it had won approval from the High Court for the scheme that will allow Vista Equity Partners to complete its takeover. Misys said it expects its last day of trading on the London Stock Exhange to be 30 May, ahead of the official delisting and implementation of the scheme [...]
Three plead guilty in FSA probe May 28, 2012 The FSA said yesterday that three people had pleaded guilty to insider trading. James Sanders, a director of contracts for difference brokerage firm Blue Index, his wife Miranda Sanders and co-director James Swallow pleaded guilty to 10, five and three charges respectively, and will be sentenced on 19 June. Christopher Hossain and Adam Buck were [...]
Spirits rise as Diageo makes £300m deal May 28, 2012 DRINKS group Diageo is toasting the £300m acquisition of one of the producers of Brazil’s most popular spirit, cachaça. The maker of Guinness and Smirnoff has agreed to buy Ypióca from its family owners as it continues to grow its emerging markets businesses to offset weak demand in Europe. The celebrations for another, larger deal, [...]
Hedgie Harding looks for brain gain in Zurich May 28, 2012 THE HEDGE fund set up by star trader David Harding plans to open a base in Switzerland in order to tap into the pool of talent which has been swelled by scientists pursuing the origins of the universe. Winton Capital Management, which uses scientific research to spot patterns in market behaviour and currently has about [...]
Sumitomo Mitsui Trust admits insider trading probe May 28, 2012 SUMITOMO Mitsui Trust said yesterday it was “fully cooperating” with a probe by the Japanese Securities and Exchange Surveillance Commission into alleged insider trading. Reports emerged over the weekend that the company – known as Chuo Mitsui Asset Trust and Banking Company until a merger in April – was being investigated for allegedly trading on [...]
THE SHARD CLOSE TO SIGNING ITS FIRST TWO TENANTS May 28, 2012 The Shard, Europe’s tallest building, is said to be close to clinching its first two office tenants, in deals likely to involve two whole floors of the 1,017 ft tower. US management consultant AT Kearney and an unnamed Middle Eastern bank have been linked to Irvine Sellar’s iconic tower in London Bridge.
