Lloyds confirms it will drop TSB September 13, 2010 LLOYDS Banking Group yesterday confirmed plans to rebrand its retail banking business, including the dropping of the historic TSB name. The move, first announced last November when Lloyds agreed its restructuring plan with the European Commission, will see the retail operation renamed Lloyds Bank over the next three years. There will be no change to [...]
HP snaps up rival ArcSight September 13, 2010 Hewlett-Packard, the world’s top personal computer maker, said it will buy security software firm ArcSight for $1.5bn (£971m) in cash yesterday to further diversify its computer business. The $43.50-a-share offer is a 24 per cent premium to ArcSight’s Friday close of $35.10 on Nasdaq. Shares were trading at $44.36 in heavy premarket trading yesterday, indicating [...]
Thomson Reuters poised to unveil social media for finance desktops September 13, 2010 Thomson Reuters will today roll out its next-generation desktop product for financial workers, incorporating Twitter-like social media features that it hopes will help it win customers from Bloomberg and others. Thomson Reuters Eikon will knit together dozens of disparate products that provide data, news, analytics and trading tools, as well as social media applications familiar [...]
CITY MOVES | WHO’S SWITCHING JOBS September 13, 2010 Secure Trust Bank Arbuthnot’s retail banking business has appointed Paul Lynam, a former senior banker at the Royal Bank of Scotland, as its new chief executive. Lynam, 42, was a managing director at RBS and was responsible for over 1m SME customers and almost 7,000 staff in the retail bank. He also previously held the [...]
UK shares surge as global deal boosts banks and China data cheers investors September 13, 2010 THE UK’s top share index ended higher yesterday after banks rose sharply in response to a new deal over global banking rules while mining shares gained on the back of bullish China industrial data. The FTSE 100 closed up 63.89 points, or 1.2 per cent, at 5,565.53 points, a fresh four-month closing high. “It has [...]
US stocks rally to their highest level since August September 13, 2010 US stocks advanced to their highest levels in five weeks yesterday, taking the S&P 500 index near the top of its summer range on upbeat Chinese factory data and new global banking rules. The rally sent the S&P 500 above its 200-day moving average for the first time since early August, which was seen as [...]
It pays to be picky, even with defensive trades September 13, 2010 WITH markets forecast to slow in the next six months, traders are eyeing traditional defensive stocks as an alternative to other low-risk assets. Government bond yields are now at historic lows, prompting many investors to turn to higher-dividend-yielding utilities shares – but it pays to be fussy, even in a supposedly “safe” asset class. At [...]
S&P RALLY TO OVERSHADOW US JOBS DATA September 13, 2010 CFD MARKET STRATEGIST, GFT LAST week saw very low trading volumes thanks to US Labor Day, Eid and Rosh Hashanah. But trading desks are back to full strength and market participants are anxious to get back to work to make full use of the trading time that’s left in 2010. We kicked off in fine [...]
FTSE traders torn between two directions September 13, 2010 THE FTSE 100 closed 63 points up at 5,565.5 points yesterday, rallying to a four-month high. Good banking and mining figures drove it upwards and a clear momentum emerged. While the upturn is indisputable, the jury is out on how long it will last. The index is out on a limb and opinion is split [...]
THE TIPSTER September 13, 2010 WATER utility Severn Trent hit two-year highs of £14.04p yesterday before falling back to the £13.90 level. But many investors believe further rises could still be possible – the utilities sector is helped by factors such as inflation-linked pricing. ShortsandLongs.com has a rolling spread of 1,386.60p – 1,390.40p. Clothing retailer Next is set to report [...]
