Nationwide and Lloyds head up jump in lending September 2, 2013 LENDING increased in the second quarter for the first time since the Bank of England launched its cheap funding scheme a year ago, official figures showed yesterday. The Funding for Lending Scheme (FLS) gives cheap funding to banks on the basis they then lend it on to businesses and households. If their net lending falls, [...]
Investors flood into floating rate corporate debt in bet on recovery September 2, 2013 FLOATING rate bond issuance has jumped sharply in the last eight months, Fitch Ratings said yesterday, as the market starts to recover from the aftermath of the financial crisis. Investors are increasingly expecting interest rates to rise and so do not want to be locked into fixed rate instruments, the ratings agency believes. Interest rates [...]
LSE gunning for first tech IPO on new platform September 2, 2013 AS LONDON gears up for the first floats on the new High Growth Segment, experts in fast-growing firms have said that a handful of extra analysts and investors could enable the platform to rival the Nasdaq for technology listings. A growing number of tech companies are being courted by the HGS, which was launched by [...]
Lenovo boss shares the spoils by splitting bonus with employees September 2, 2013 LENOVO’s chief executive will share his $3.25m (£2m) bonus with employees for the second year running. Yang Yuanqing will distribute the money to around 10,000 workers to recognise their contribution to the business, in a move seen as unusual for a Chinese company. The payment will amount to more than £200 per employee. Yang was [...]
HTC shares plummet as staff arrested September 2, 2013 TAIWANESE smartphone manufacturer HTC saw its shares tumble yesterday on the news that senior executives have been arrested leaking commercial secrets. Shares of the Taipai-listed company fell five per cent in trading as police confirmed four design directors were arrested on Friday. Prosecutors in Taiwan said yesterday that Thomas Chien, HTC vice president of product [...]
CentralNic raises £7m in float on Alternative Investment Market September 2, 2013 INTERNET domain name provider CentralNic Group began trading on the junior stock market yesterday after raising £7m. The firm, which sells premium domains with endings such as uk.com and eu.com, hopes to cash in on rising demand for personalised web addresses. “The response from investors to the IPO has reaffirmed our belief that CentralNic is [...]
Yahoo exit Chinese web September 2, 2013 YAHOO has shut down its Chinese website, completing its exit from the Chinese market. The departure highlights the growing trend of major US internet companies who have struggled to compete in the Asian market in recent years. Yahoo’s Chinese web offerings have been run by online services giant Alibaba since 2005. The firm has seen [...]
Give me one good reason to date a lawyer September 2, 2013 ONLINE dating website eHarmony has become an enthusiastic advocate for legal partnerships, with a blog post listing a whole “15 Reasons to Date a Lawyer.” The article ranges from the thoughtful points such as “lawyers are eloquent, articulate and very insightful when it comes to reading another person’s character”, and another that points out that [...]
HSBC bean counter sets sail for around the world yacht race September 2, 2013 THE CITY was unusually busy on Sunday as spectators lined the banks of the Thames to wave goodbye to the yachts competing in the Clipper Round the World Race. And among one of the many embarking on the journey was one of the Square Mile’s very own – HSBC bean counter Lindsay Evans. Evans told The [...]
One year gone but no progress on trade for G20 September 2, 2013 DESPITE a commitment to reject protectionism in the aftermath of the financial crash, G20 leaders meeting in St Petersburg later this week have stalled on measures to improve global trade in the past year. One report released by the European Commission yesterday found that 150 new restrictions on trade were introduced around the world in [...]
