Hungary’s debt sale is shunned June 10, 2010 HUNGARY cut its 12-month bill auction offer yesterday and sold the bills at higher yields than two weeks ago as markets were still uncertain and awaiting proof the government’s economic plan could be implemented. The bills were sold at an average yield of 5.35 per cent, compared with a yield of 5.17 per cent two [...]
City investors back inquiry on bank fees June 10, 2010 INVESTORS applauded the fresh inquiry into investment banks’ fees for advising on and underwriting equity issues announced by the Office of Fair Trading yesterday. Following worries over the spiralling cost of rights issues for companies, the OFT said it would investigate the level of competition in capital markets services and whether corporates were getting value [...]
European banks face second quarter chill due to debt woes June 10, 2010 EUROPEAN banks including UBS, Deutsche Bank and Credit Suisse face a sharp slowdown in the second quarter on the back of regional sovereign debt fears, analysts believe. UBS chief financial officer John Cryan yesterday told an informal lunch meeting that the Swiss institution would post weaker results for the three months to the end of [...]
Hotshot Rooney is our City slicker June 10, 2010 THE CITY are backing Wayne Rooney to be a hit at this World Cup. No fewer than 32 per cent believe the England striker will follow in the footsteps of Gary Lineker in 1986 and claim the Golden Boot in South Africa. But the majority can’t see the Manchester United front man firing England to [...]
DO WE NEED TO LOOK AT THE FEES BANKS CHARGE ON RIGHTS ISSUES? June 10, 2010 NEIL SHAH | EDISON INVESTMENT RESEARCH “It’s part of a much wider political play on targeting and attacking banks, and this is just one more area. OFT investigations are not undertaken lightly, though, and if you actually look at underwriting fees there’s not much variability. I don’t see an enormously competitive market there, so there [...]
BA chief exec turns down £334k bonus June 10, 2010 WILLIE WALSH, the British Airways (BA) chief executive, was the only senior level member of the airline to turn down a bonus last year, as the airline faced increasing financial losses and industrial action launched by cabin crew. Walsh, who was in line to receive a £334,000 bonus awarded in shares, declined to accept it [...]
Ash and strikes cause BAA passenger traffic to fall 4.5pc June 10, 2010 BRITISH AIRPORT AUTHORITY (BAA), owner of Heathrow and Stansted airports, reported floundering May passenger numbers yesterday as the industrial action launched by British Airways cabin crew and the Iceland volcano disruptions continued to take their toll. The airports body, owned by Spain’s Ferrovial, said yesterday that 8.6m passengers traveled through its six airports, marking a [...]
Victoria tube station to benefit from £700m facelift by 2016 June 10, 2010 VICTORIA tube station is set to receive a £700m facelift, giving the congested station a new ticket hall, escalators and entrances. Transport for London (TfL) expects to start the five-year transformation next year and said that it doesn’t expect any disruptions to the hundreds of thousands of passengers travelling through the station every day. Mayor [...]
I’m a fan of Cole, admits Wenger June 10, 2010 ARSENE WENGER has thrown his hat in to ring to sign Joe Cole, admitting he is a huge admirer of the England midfielder. Cole has sparked a mass transfer scramble after it was confirmed on Wednesday that he is to be released by Chelsea at the end of the month. Tottenham, Manchester United and Manchester [...]
ECB defends bond-buying programme June 10, 2010 JEAN-CLAUDE TRICHET, president of the European Central Bank (ECB), yesterday staunchly defended the central bank’s decision to buy government bonds and said the ECB would extend its liquidity support measures. He said: “It’s appropriate to continue to do what we’ve decided.” The ECB also kept interest rates at one per cent. When asked about Governing [...]
