The changing of the guard at Goldman Sachs May 23, 2011 A changing of the guard at Goldman’s UK investment banking division is always closely watched and so it is that there is much discussion about the two thirtysomethings that have been put in charge of UK investment banking. The recent departure of Julian Metherell, the former head, who is going to start an investment firm [...]
Russia thinks BP deal is dead May 23, 2011 Russia’s energy minister does not expect BP and Rosneft to revive their historic exploration deal. Sergei Shmatko told reporters yesterday: “I don’t believe there’s any chance of reincarnation of the deal in its current form,” adding that the two oil companies were continuing talks over a new agreement to search for oil in the Arctic. [...]
Panel calls for metal trade probe May 23, 2011 The government should probe whether metals markets with high levels of speculation and volatility are an acceptable way to bring strategic commodities to end users, a parliamentary committee advised yesterday. The science and technology committee has expressed concerns over reports of hedge funds buying up significant quantities of metals, which may exacerbate price and supply [...]
THE TALE OF PIPPA MIDDLETON, ALEX LOUDON AND THE BEERMAKER May 23, 2011 COULD Pippa Middleton be persuaded to relocate to leafy Woking? The Capitalist only asks because a finance professional with the same name as her boyfriend and rumoured fiancé, Alex Loudon, is currently employed by the Woking UK head office of brewing giant SABMiller. Recent press reports have described the younger Middleton sister’s love interest as [...]
Euro bonds slide as firms pick sterling May 23, 2011 EUROPEAN bond issuers are turning away from euro denominated securities in favour of sterling, dollar and ruble products. Overall bond issuance by European corporates has increased so far this year by 17 per cent to $182.5bn (£113bn), according to data provider Dealogic. But issuance of euro-denominated bonds so far this year has slumped by 13 [...]
Highest rate of savings found in Richmond area May 23, 2011 SEVERAL neighbourhoods in London and the south east have among the highest average level of savings, the Halifax revealed yesterday. Residents in one part of Richmond have the highest rate of savings in the UK, with a section of Putney coming a close third. Outside south-eastern England, some postcodes in Scotland were also among the [...]
IFG reveals fresh takeover talks May 23, 2011 IRISH financial services group IFG yesterday revealed a second takeover approach, as bid interest mounts for the London-listed firm. The company said it had received an approach to acquire its entire issued share capital, which is currently valued at about €220m (£190m). IFG did not identify who had made the latest approach for it, but [...]
Pimco opens fund to cash in on CoCos May 23, 2011 PIMCO, the world’s largest bond fund manager, is launching a product designed to cash in on a new breed of hybrid securities dubbed “CoCos” being issued by banks. Contingent convertibles, known as CoCos, are securities that convert to equity if a measure of financial strength is broken. They are deemed to be a tougher form [...]
Yandex float priced at top end of range May 23, 2011 RUSSIAN internet search firm Yandex yesterday appeared to be cashing in on a surge in demand for technology companies in the United States, despite fears of a new dot.com bubble. The firm, dubbed as the “Russian Google”, now plans to sell shares above its initial price range, at between $24 and $25 per unit. It [...]
Procter & Gamble plans Indonesian deals May 23, 2011 PROCTER & Gamble will invest $100m (£62m) in the oleochemical sector in Indonesia, the country’s industry minister MS Hidayat said yesterday. “P&G is anticipating the need for 200,000 tonnes of fatty alcohol in the coming ten years from Indonesia,” Hidayat said following a meeting with P&G officials at his office. “To meet the need they [...]
