Icap’s new system hits €10bn September 14, 2010 INTER-DEALER broker Icap notched up interest rate swap (IRS) trades with a nominal value of over €10bn (£8.36bn) in the first week of trading on its electronic market. The figure represented 15 per cent of the total number of Euro IRS trades passing through the firm’s order book over the week, with 13 major banks [...]
Digital investment pays dividends September 14, 2010 ICAP’s decision to invest $250m in new technology last year is going to pay dividends. Having attracted over €10bn worth of interest rate swaps (IRS) to its new electronic platform during its first week of operation, it is now reaping the rewards. Big investment banks like Citi, BarCap, Deutsche Bank and JP Morgan are market [...]
EURO DISNEY EXPANDS IN FRANCE September 14, 2010 THEME park operator Euro Disney has won permission to build a third theme park, a new housing development and a holiday village in France. The company has negotiated with the French government to alter its founding agreement and extend its perimeter. Euro Disney is 47 per cent owned by the Walt Disney Company and has [...]
BoA Merrill to rejig European finance team September 14, 2010 BANK of America Merrill Lynch yesterday unveiled changes in its team covering Europe’s financial firms, following similar announcements from two other banks ahead of an expected increase in equity raisings and deals. Bank of America Merrill Lynch hired four financial institutions group (FIG) bankers and said it was rejigging its Europe, Middle East and Africa [...]
SPREADBETTING BOSS IN A PRODIGIOUS MOVE September 14, 2010 IF THERE’S been a whiff of celebrity recently about the walk of Simon Denham, the ebullient head of spreadbetter Capital Spreads, The Capitalist knows why. For the past year or so, Denham has been in the process of buying his new house – a sprawling country pile in Great Dunmow, Essex – from none other [...]
Google takes on Facebook at networking September 14, 2010 GOOGLE plans to gradually introduce social-networking features to its sites starting this fall, as the Web search giant seeks to compete against rapidly growing Facebook. Chief executive Eric Schmidt said yesterday that the Internet search leader intends to gradually work in “layers” of social networking, rather than unveil a flashy new product in one go, [...]
Snow+Rock set to expand after management buyout September 14, 2010 OUTDOORS specialist Snow+Rock Sports has been bought by its management, backed by private equity firm LGV capital, for an undisclosed sum. The management, led by managing director Dion Taylor, have put their own money into the retail chain, which has 35 stores and three commercial websites. Taylor said: “Andrew Brownsword and Jeremy Hancock helped us [...]
Rio Tinto plans to expand its diamond mine September 14, 2010 LONDON-listed miner Rio Tinto announced plans to expand its Argyle diamond mine in Western Australia yesterday, the latest step in its plan to spend about $13bn (£8.4bn) through the end of 2011 to boost growth. Rio Tinto said it plans to invest $803m to develop an underground mine under the existing open pit, ramping up [...]
SuperGroup in sales boost September 14, 2010 SuperGroup – the British company behind the Superdry fashion brand – yesterday reported soaring sales after a highly successful flotation. Total sales leapt 59.8 per cent to £32.8m in the three months to 1 August as its trademark hoodies and checked shirts continued to fly off the shelves. The company’s shares closed 3.7 per cent [...]
Debenhams is bullish as tips profit up 20pc September 14, 2010 DEBENHAMS yesterday said that its pre-tax profit for the year would rise 20 per cent – thanks to rising online sales and the performance of its designer ranges. The company suggested profit would hit £150m as its discounting and store expansion helped to fuel figures £3m above analysts’ forecasts. However, sales at stores open at [...]
