CO-COS: THE BASICS February 14, 2011 Q.What are “co-cos”? A.“Contingent convertible bonds”, are bonds that turn into equity at a given trigger-point, for example, if a bank’s capital ratio falls below regulatory requirements, or if an institution has to be taken over by the state. Q.Why are they suddenly so popular? A.Co-cos have not traditionally been popular because issuers must pay [...]
FORLORN FERNANDO February 14, 2011 FULHAM (0) vs CHELSEA(0) Torres subbed again after another limp display Ancelotti defends his record purchase Title gone for good despite Cech penalty save CHELSEA manager Carlo Ancelotti defended another tepid display from Fernando Torres but admitted his side’s hopes of retaining their Premier League crown are over after frittering away two points against their [...]
Marriott hotels to spilt in two February 14, 2011 Hotel operator Marriott International said yesterday it plans to split into two publicly traded companies by spinning off its timeshare operations into a separate company. It also reported fourth-quarter net income of $173m (£108m), compared with $106m, a year earlier, as a strengthening economy enabled more companies to send employees back out on the road [...]
Redknapp ushers in a new era February 14, 2011 AC MILAN vs TOTTENHAM Spurs boss senses an opportunity for his side to join European elite on regular basis TOTTENHAM manager Harry Redknapp believes his side stand on the brink of returning to the big time on a full-time basis ahead of their second San Siro showdown in four months. After their epic 4-3 defeat [...]
Agilent beats Wall Street view February 14, 2011 Agilent Technologies first-quarter profit beat analysts’ estimates, helped by growth across all its segments, and the electronics testing equipment maker forecast second-quarter earnings above analysts’ view. The Santa Clara, California-based company posted a net income of $193m, up from $79m, last year. Revenue rose 25 per cent to $1.52bn.
CME to expand in London February 14, 2011 THE Chicago Mercantile Exchange (CME) Group is planning a rapid expansion in London, more than doubling its staff in the City and for the first time basing five senior managers in the capital, City A.M. can reveal. The expansion involves signing a 15-year lease on a 38,000-square foot office in Land Securities’ One New Change [...]
Van Persie will make it harder, insists Pedro February 14, 2011 BARCELONA winger Pedro believes Arsenal will be a far tougher nut to crack in the Champions League this season with Robin van Persie spearheading their attack and firing on all cylinders. The Dutch international missed last year’s Lionel Messi inspired 6-3 aggregate quarter-final defeat through injury, but since his return to the Arsenal first team [...]
Fidessa hits profit target for 2010 February 14, 2011 FIDESSA, the trading systems provider, has posted full-year results in line with consensus, although failed to meet some analysts’ expectations. Revenues at the company, which links investors with brokers, dealers and exchanges, rose ten per cent to £262.3m over the year to 31 December. However, the firm warned that its markets “will remain difficult for [...]
The £120m question: Will Gold and Sullivan cash in? February 14, 2011 IN THEIR first press conference as majority owners of West Ham on 18 January last year, David Gold and David Sullivan made clear their ambition to move the club into the Olympic Stadium after the London 2012 Games. They knew it had the potential to catapult the debt-laden East End club into the big league; [...]
NYSE eyes merger by end of year February 14, 2011 A DEAL between Deutsche Boerse and the New York Stock Exchange (NYSE) could be tied up by the end of this year, details due today are expected to reveal. An announcement on the progress of the deal could come as soon as this afternoon after the two companies’ boards meet to vote on the matter. Any [...]
