CITY VIEWS: WHO DO YOU THINK WILL WIN THE GUINNESS PREMIERSHIP FINAL? May 27, 2010 RICHARD BARBER | JP MORGAN “I would like Leicester to win because they have more England players, and I think they will. Saracens were romping ahead early in the season but to me that was because they didn’t have any Six Nations players, so all the other teams were below par, but then they caught [...]
WHY CAM MUST AXE THE CAP GAINS HIKE May 27, 2010 CITY A.M. today launches a campaign against plans to hike capital gains tax (CGT), calling on David Cameron to rethink proposals that would clobber private investors. Yesterday, senior City figures – including private equity guru Jon Moulton, serial entrepreneur Luke Johnson and Tullett Prebon boss Terry Smith – became the first to support our campaign. [...]
Cam: We will save economy May 27, 2010 DAVID Cameron will vow to champion enterprise when he sets out his vision for the economy in his first major speech as PM this afternoon. He will promise to turn around an economy that has become “hostile to enterprise”, with business investment growing at just a quarter of the pace of the 1990s. He will [...]
Coalition must listen to City on CGT May 27, 2010 IT is not often that a major City institution is willing to go on the record with its opposition to a key government policy – usually, the big firms hide behind off-the-record briefings or industry lobby groups. So kudos to Fidelity, the fund manager, for yesterday demolishing so eloquently the coalition government’s plan to hammer [...]
Obama blasts oil industry May 27, 2010 PRESIDENT Barack Obama has suspended offshore drilling plans in Alaska and Virginia at the same time laying into BP for the Gulf of Mexico oil spill. Speaking yesterday, Obama said that planned exploration off the shores of the two US states would be suspended, at the same time placing a moratorium on 33 wells currently [...]
Lehman sues JP Morgan in assets dispute May 27, 2010 LEHMAN Brothers Holdings has sued JP Morgan Chase, accusing the bank of illegally siphoning billions of dollars of assets in the days leading up to the record bankruptcy. The lawsuit filed in a Manhattan bankruptcy court accused JP Morgan of using its “unparalleled access” to inside details of Lehman’s distress to extract $8.6bn (£5.9bn) of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 27, 2010 FINANCIAL TIMES COMMODITIES SURGE AFTER WARNING ON HURRICANE SEASON Oil and natural gas prices surged on Thursday as the US government said this year’s hurricane season could rank among the most active to date, comparable to years that brought such devastating storms as 2005’s Katrina and Rita. The outlook raises the possibility of damage to [...]
Pru tries to cut AIA price as bid falters May 27, 2010 PRUDENTIAL was last night trying to lower the $35.5bn price tag of its planned purchase of the Asian assets of American International Group in a list ditch attempt to avoid a “no” vote on the deal. The UK life insurer is hoping it can reduce the price to $30bn, it is understood, amid rising investor [...]
Prudential May 27, 2010 THESE negotiations are Prudential’s last chance to salvage the deal, but even with a $5bn price discount on Asian insurer AIA’s $35.5bn price-tag it is likely to prove too expensive. After all, if this game changing deal was so attractive, why aren’t any of Pru’s rival insurers who also lack Asian market share showing any [...]
Geithner: US and EU agree on bank risk May 27, 2010 US treasury secretary Timothy Geithner said there is agreement on both sides of the Atlantic over limiting the risks banks are allowed to take – but he warned against hampering competition. Speaking with German finance minister Wolfgang Schaeuble in Berlin yesterday he said: “I think we all agree we want more conservative restraints on capital [...]
