McDowell wins World Challenge December 2, 2012 Northern Irishman Graeme McDowell won the World Challenge in California by three shots last night, holding off a challenge from American Keegan Bradley to finish 17 under par. Host Tiger Woods finished way off the pace on nine under par. Earlier in the day Ryder Cup hero Martin Kaymer won the Nedbank Challenge in South [...]
Battle begins over future of the press November 29, 2012 THE BATTLE lines for a parliamentary row over press freedom were drawn yesterday, after David Cameron rejected the central recommendation of the Leveson inquiry and said he had “serious concerns” about introducing legislation to support press regulation. The combative stance was welcomed by the newspaper industry but means Cameron will now be pitted in a [...]
UK banks must raise tens of billions in extra capital November 29, 2012 BRITISH banks’ capital levels could differ from their reported levels by tens of billions of pounds, the Bank of England warned yesterday, because they each measure risk weighting in very different ways. That means different banks could hold different levels of capital against the same asset, because they have assessed it in different ways. Fears [...]
Why David Cameron was right to stand up for free speech November 29, 2012 YESTERDAY wasn’t quite the tragic day for the freedom of the press that it could have been, for one reason only: at one minute to midnight, David Cameron came riding to the rescue of free speech. By refusing to back the Leveson report’s key demand – a new regulator underpinned by statute and ultimately policed [...]
What the other papers say this morning November 29, 2012 FINANCIAL TIMES Morgan Stanley to boost returns Morgan Stanley’s chief executive wants to use the bank’s excess capital to boost returns for the company’s “long suffering” shareholders. In the strongest signal yet that Morgan Stanley is preparing to hand back more than token sums to shareholders since the financial crisis, James Gorman told a securities [...]
Meinertzhagen : City legend dies November 29, 2012 ONE of the City’s best known corporate financiers, Peter Meinertzhagen, has died at the age of 66. Meinertzhagen, whose clients included Lord Hanson and his company Hanson Trust, spent 42 years working in the City. Most of his working life was at Hoare Govett, the stockbroker that was bought by ABN Amro, then RBS, and is [...]
London launch of China bond November 29, 2012 CHINESE bank the China Construction Bank will today issue a “dim sum” bond in London, the first Renminbi denominated bond ever sold outside of China. The one billion RMB bond follows a landmark deal struck by chancellor George Osborne and Chinese vice premier Wang Qishan in September to boost London’s role as a RMB hub. [...]
BT in Olympic park move November 29, 2012 BT yesterday announced plans to set up the headquarters of its new sports channel BT Sport at the Olympic park in East London after inking a ten-year deal with bosses to rent studios in the grounds of the iconic stadium. BT will start redeveloping the site – which housed 28,000 journalists during the Olympics – [...]
Kcell prices IPO as London bags another listing November 29, 2012 KAZAKHSTAN telecoms firm Kcell priced its London listing yesterday, joining the flood of Russian and central Asian firms looking to raise funds in London. The leading mobile phone operator hopes to raise between $525m and $650m in the initial public offering (IPO). That would value the firm at $2.1bn (£1.3bn) to $2.6bn, as the 50m [...]
Three big auditors are slapped with lawsuits over past work November 29, 2012 AUDIT firms Deloitte and KPMG are among the firms named in a US lawsuit brought by a disgruntled investor in Hewlett-Packard, though both firms distanced themselves from the troubled deal yesterday. The case, filed in California, claims the auditors missed numerous red flags about Autonomy, which HP bought last year. The tech firm has since [...]
