Shingler loses Scotland appeal May 16, 2012 RUGBY UNION: London Irish back Steven Shingler has lost his battle to represent Scotland rather than Wales. World chiefs ruled the Swansea-born 20-year-old had sealed his fate by playing for Wales Under-20s last year.
Spencer: Icap ready if Greece leaves the euro May 16, 2012 ICAP chief executive Michael Spencer said yesterday the broker could be ready to trade in drachmas within days and predicted other nations could follow Greece out of the euro. Spencer said Icap – which posted a small drop in annual profits – is “hypothetically” ready for a return to the drachma “next week” if Greece [...]
Dutch bank ABN AMRO warns bad loans will continue to rise May 16, 2012 NATIONALISED Dutch lender ABN AMRO reported a 16 per cent drop in net profit to €454m (£363m), hit by a rise in losses on bad loans due to the ongoing recession in its home market. It was a significant improvement on the €23m loss seen in the fourth quarter of last year, when all banks [...]
EU’s Barnier pushes for binding shareholder vote on pay deals May 16, 2012 SHAREHOLDERS should have the power to curb bosses’ pay and set caps on executive bonuses, the EU’s top regulatory official said yesterday, adding to pressure on banks and companies over excessive management pay deals. The plan from Michel Barnier, the European Commissioner in charge of regulation, could pave the way for a pan-EU law next [...]
HOW IS THE TRADING SLUMP AFFECTING BROKER ICAP? May 16, 2012 NESE GUNER | CITI We expect downgrades to consensus full year 2013 revenue forecasts given the slow start to the year and the possibility of a slow summer. Currently the consensus range for 2013 revenues is wide: £1.64bn to £1.84bn. JAMES HAMILTON | NUMIS We believe the time to buy Icap is when there is [...]
CCS funding attracts 16 bidders May 16, 2012 At least 16 companies are interested in participating in Britain’s £1bn competition to fund one or more carbon capture and storage (CCS) projects, the government said yesterday, hoping to encourage competitors to link projects together. Companies including Shell, National Grid and Centrica have signalled an intention to apply for funding but the government does not [...]
Arden Partners sees better trading May 16, 2012 Stockbroker Arden Partners said yesterday that trading in the first half had been better than anticipated, and that its revenues and profit were ahead of budgets. Since the end of last year Arden has added 34 brokerships, taking the average market cap of its clients to £195m.
Venture capital deal flow falls May 16, 2012 Venture capital deals saw a brief resurgence in 2011 compared to the previous year, according to data from Preqin, but have slowed since the start of 2012. The data provider said the aggregate value of venture capital deals increased by 42 per cent between 2010 and 2011, from $33.7bn to $48bn, but had dropped back [...]
Boisdale celebrates a decade May 16, 2012 IT was a case of glasses of Boisdale claret all round the other evening as the clubbable Scottish restaurant celebrated 10 years at Bishopsgate by throwing a party for its members and regulars. Guest of honour was former chancellor Lord Lamont, who shared his recollections of life at 11 Downing Street. Lamont was introduced to [...]
Dig for victory with StanChart May 16, 2012 While the government flounders around in search of any “green shoots” of a recovery, some in the City were getting down to business in a more practical manner. Standard Chartered’s head of Europe, the Middle East and Africa Richard Holmes yesterday led a gaggle of bankers over to Roehampton for a volunteering day, one of [...]
