Goldfields bought in £1.5bn deal December 18, 2011 CANADIAN miner Eldorado Gold has struck a C$2.5bn (£1.55bn) takeover deal for European Goldfields, which owns a swathe of gold and base metal mines in Greece, Turkey and Romania. The agreement sees European Goldfield’s former suitor, Qatar Holdings, routed despite signing a deal to buy a chunk of the miner’s shares and hand it a [...]
It’s your last chance to bid December 18, 2011 Three tickets to Arsenal v Queens Park Rangers with City A.M.’s sports editor Frank Dalleres Meet Frank Dalleres, City A.M.’s sports editor, who will take three guests to the exclusive club level of Emirates Stadium to watch Arsenal play Queens Park Rangers on New Year’s Eve. The match kicks off at 3pm. Six nights at [...]
Protesters in court appeals December 18, 2011 THE CITY of London Corporation will press ahead with a High Court bid to remove protesters from outside St Paul’s today despite suggestions last night that Occupy LSX had offered to move on. City A.M. understands the corporation wants a judge to decide the fate of the Occupy camp, which was set up more than [...]
Call for EU lobbying body December 18, 2011 THE GOVERNMENT should establish a super-committee to coordinate its lobbying in Brussels on financial regulation, an influential group of lords and MPs has said. The group convened to scrutinise the draft financial services bill – the government bill that abolishes the FSA and sets up several new regulators in its place – says that Britain [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 18, 2011 FINANCIAL TIMES FACEBOOK SET FOR SUIT OVER US PUBLICITY LAWS Facebook’s practice of showing people that their friends “like” specific products could run afoul of a California law that gives both celebrities and ordinary citizens the right to control how their names and pictures are used for commercial endorsements. A federal judge in San Jose [...]
RBS considers its options on Hoare Govett December 18, 2011 ROYAL Bank of Scotland is considering the sale or closure of Hoare Govett, its legendary broking business that has worked with many of the leading companies on the FTSE 100. The bank, 83 per cent taxpayer-owned, is looking at several options for its investment bank, which could include walking away from the equities market entirely. [...]
FSA: time for common sense on mortgages December 18, 2011 LENDERS will not face mandatory limits on how much they can lend to house-buyers, the Financial Services Authority (FSA) announced today, but will be expected to use more “common sense” when issuing mortgages. Draft rules out this morning argue that too many risky loans were made on the basis that house prices would always rise, [...]
ECB official: I quit over the bond buying December 18, 2011 THE EUROPEAN Central Bank (ECB) should not be expected clean up the mess created by individual Eurozone governments, according to its outgoing German official Juergen Stark. Senior decision-maker Stark steps down at the end of the year. In the autumn he attributed his high-profile resignation to “personal reasons” yet has now confirmed his opposition to [...]
City says Cameron was right to veto EU treaty December 18, 2011 AN OVERWHELMING 66 per cent of our Voice of the City panellists believe the Prime Minister was “completely right” to veto changes to the EU treaty, according to the results of our latest poll, run in association with PoliticsHome.com. Another 15 per cent said Cameron was “somewhat right” – leaving just 15 per cent in [...]
UK and rest of Europe need each other, new bank chief Draghi says December 18, 2011 EUROPEAN Central Bank (ECB) chief Mario Draghi has expressed sadness over Britain’s withdrawal from European talks over a new treaty. “My more general reaction to all this is that it’s sad,” Draghi said in an interview with the Financial Times today. “I think the UK needs Europe and Europe needs the UK. There’s a lot [...]
