M&A volumes sink on concerns over plight of battered Eurozone economy March 4, 2010 POWER generator rental group Aggreko said yesterday that 2010 profit would be better than it previously expected, helped by growing demand for power in emerging markets such as Africa and South America. The group reported a 29 per cent jump in 2009 pre-tax profit. The FTSE 100 firm, which provided power for the Vancouver Winter [...]
Aggreko reports 29 per cent jump in its profits March 4, 2010 POWER generator rental group Aggreko said yesterday that 2010 profit would be better than it previously expected, helped by growing demand for power in emerging markets such as Africa and South America. The group reported a 29 per cent jump in 2009 pre-tax profit. The FTSE 100 firm, which provided power for the Vancouver Winter [...]
SVG assets improve on Permira cuts March 4, 2010 SVG Capital, the biggest investor in buyout firm Permira, saw its shares rebound yesterday after it cut debt and saw the companies it owns improve their performance, sending its shares soaring. The private equity investor said its net asset value per share rose 30 per cent to 222.9p from six months ago. Chief executive Lynn [...]
BoA warrant sale hands US $1.5bn reward March 4, 2010 THE Treasury Department said yesterday it priced two classes of Bank of America warrants in a deal that will bring record net proceeds of $1.5bn £996m). The net proceeds from auction for Bank of America will surpass JPMorgan Chase warrants totalling $936m. That auction was held in December. The record amount will allow for taxpayers [...]
WaMu may reach deal soon March 4, 2010 WASHINGTON Mutual could reach agreement with JPMorgan Chase & Co and a government agency over a disputed $3.7bn (£3.3bn) bank deposit in the next week, the bankrupt company’s attorney told a court yesterday. Washington Mutual was in court to try to resolve a dispute centering on one of its largest potential assets, billions of dollars [...]
US private bank Atlas makes push into Europe March 4, 2010 US PRIVATE banking group Atlas One has appointed a senior fixed income banker, Brian Lazell, to run its new London-based office as it widens the scope of its European operations. Atlas is seeking to use its own private bank, which has $1.5bn assets under management, as a client base. Other clients the firm conducts trades [...]
Canaccord snaps up Canadian bank Genuity Capital Markets for $285.9m March 4, 2010 CANACCORD Financial yesterday announced a $285.9m (£189.8m) deal to buy up Canadian advisory firm Genuity Capital Markets, in a drive to boost its business across Canada, the US and here in the City of London. Under the terms of the deal, Canaccord will pay 26.5m of its own shares and $30m of cash for Genuity, [...]
Unicredit passes on €2bn of money raised in rights issue to Bank Austria March 4, 2010 CANACCORD Financial yesterday announced a $285.9m (£189.8m) deal to buy up Canadian advisory firm Genuity Capital Markets, in a drive to boost its business across Canada, the US and here in the City of London. Under the terms of the deal, Canaccord will pay 26.5m of its own shares and $30m of cash for Genuity, [...]
BEST OF THE BROKERS March 4, 2010 SIGNET JEWELERS Ahead of Signet’s financial results, Standard & Poor retains its “strong buy” recommendation. Expects continued market share gains for Signet as weaker peers grapple with execution problems and supports their optimism for a cyclical recovery. Expects Ernest Jones stores to benefit from a recovery spending. JARDINE LLOYD THOMPSON Shore Capital recommends a “buy” [...]
Trinity Mirror upbeat after profits slide March 4, 2010 NEWSPAPER giant Trinity Mirror saw profits slide 41 per cent year-on-year as the advertising drought continued to batter the industry. It posted profits of £72.2m for 2009, above most expectations, but sales fell 14 per cent to £763.3m and operating profit dropped 30 per cent to £101.2m. The beleaguered firm embarked on a series of [...]
