Bank chiefs issue warning against regulatory overkill August 3, 2009 BARCLAYS chief executive John Varley yesterday urged regulators not to risk “throttling” economic recovery with overzealous reforms, while HSBC backed up his call for a measured approach. “This industry got many things wrong and there is much to be sorry about. There must be change and there will be change,” said Varley. But he added [...]
Bullish HSBC shrugs off rise in bad debts August 3, 2009 HSBC saw first-half profits cut in half in the first six months of the year, as impairments reached $13.9bn (£8.2bn), but signalled that the economic crisis was beginning to ease. Pre-tax profit fell to $5bn, a 51 per cent decline on the $10.25bn earned in the same period of last year, but a marked turnaround [...]
BarCap boost sees Barclays profits jump August 3, 2009 BARCLAYS reported an eight per cent increase in first-half pre-tax profit yesterday, as its investment banking arm Barclays Capital (BarCap) extended its first quarter boom. Group profits before tax reached £2.98bn, up from £2.75bn in the first half of 2008, as revenues soared 37 per cent from £11.8bn to £16.25bn. Barclays’ results included impairment charges [...]
CAN BARCLAYS CONTINUE ITS STRONG PERFORMANCE? August 3, 2009 NIC CLARKE CHARLES STANLEY“Barclays has been our most difficult call in the UK banking sector over the last 12 months. Performance in the next 12 months depends not only on whether BarCap can remain as robust as it has been but also importantly on the macro economic strength of the US, UK, Spain and South [...]
THREE OTHER CANARY WHARF RESTAURANTS August 3, 2009 CURVEPricey seafood in a sophisticated setting, with full advantage taken of the nearby Billingsgate Fish Market. Mains include steamed mussels with clams and squid, spiced roast monkfish and “fisherman’s pie”. There’s a grill section too for those after something redder. Marriott West India Quay, 22 Hertsmere Road, E14 4ED. Tel: 020 7517 2808 PLATEAUA glossy [...]
SANTANDER CHIEF BREAKING CITY HEARTS WITH HIS EXOTIC CHARM August 3, 2009 WHILE all the big British bank bosses are pitted against each other this week in terms of first-half profits, Spanish bank Santander’s UK boss António Horta-Osório has been enjoying the glory of a rather more frivolous accolade. Horta-Osório became chief executive of Abbey in August 2006, after long stints at the helm of the bank’s [...]
The pasta is brilliant, but eating at Jamie’s can be a stressful experience August 3, 2009 Jamie’s ItalianUnit 17, 2 Churchill Place, Canary Wharf, E14 5RBTel: 020 3002 5252 Cost per person without wine: £25 THIS is the second of Jamie Oliver’s chain of wallet-friendly eateries to open in London – one opened in Kingston in late 2008, following the first in Oxford – and he couldn’t have chosen a better [...]
Why the triathlon has become the ultimate water-cooler competition August 3, 2009 ON A NORMAL weekend you’re more likely to encounter tumbleweed in Docklands than serious signs of human activity. It might have been a bit of a shock this Sunday, then, to have seen 13,000 people swarming into the water at Royal Victoria docks, climbing out to run 10km and then cycling to Westminster and back. [...]
HAMMERSON HELM SWITCH August 3, 2009 ANGLO-French property firm Hammerson said yesterday chief executive John Richards (pictured) will retire at the end of September after 10 years at the helm. UK managing director David Atkins will succeed him in the role. The group also added that losses almost doubled to £818.3m for the six months to 30 June from £417.1m a [...]
Fidessa warns on customer cuts August 3, 2009 Software company Fidessa saw its shares drop yesterday as caution in the group’s outlook stalled analyst upgrades, despite revenue and earnings per share at the half-year stage coming in ahead of consensus. The group, which supplies trading systems to banks, says markets are stabilising, but some customers are experiencing challenging conditions and are looking to [...]
