HSBC appoints new corporate Bank chiefs January 14, 2013 HSBC has appointed Dan Howlett and Ian Henley to run its European corporate banking arm, it revealed yesterday. Henley will be head of corporate banking across Europe while Howlett is the new head of corporate banking in the UK.
Heathrow hits record as flights to Brazil and Middle East soar January 14, 2013 HEATHROW Airport yesterday heralded a surge in passengers from Brazil and the Middle East for its record traffic numbers for 2012. Almost 70m passengers passed through the gates of Britain’s busiest airport last year, a rise of 0.9 per cent. In December alone, traffic jumped two per cent to 5.6m, making it Heathrow’s busiest ever [...]
Watchdog says stability rules will hit growth January 14, 2013 RAISING capital requirements for bank lending will promote financial stability but will also increase the cost of credit and hit the economy in the short run, the Bank of England acknowledged yesterday. Its policy document explaining how the Financial Policy Committee will try to identify and deal with financial bubbles also said the powers could [...]
Eurozone’s industry plummets January 14, 2013 INDUSTRIAL output collapsed in the Eurozone in November, official figures revealed yesterday, leaving economists certain the currency area is mired in recession again. Yet International Monetary Fund chief Christine Lagarde argued that the Eurozone has turned a corner and that the economy is on the mend. “We forecast the Eurozone to be delivering growth in [...]
Tullett Prebon loses claim of staff poaching by rival BGC January 14, 2013 UK BROKERAGE giant Tullett Prebon yesterday lost a $16m (£9.9m) damages claim against rival US firm BGC Partners concerning an alleged raid on members of its workforce by BGC in 2011. The US financial watchdog Finra kicked out the damages claim by Tullett against BGC’s subsidiary BGC Financial over nine brokers it claims were poached [...]
UK’s public debt to keep rising January 14, 2013 GOVERNMENT consumption is rising at its fastest pace in eight years, a group of economists said today, warning that the very slow pace of the coalition’s austerity plans means deficit reduction will have to drag on for another two full parliaments. Slow growth combined with this year’s 2.8 per cent rise in government consumption mean [...]
Swatch chimes in with $750m jewellery deal January 14, 2013 JEWELLER Harry Winston is selling its high-end watches-to-necklaces division to Swatch Group in a $750m (£467.3m) cash deal that expands the Swiss watchmaker’s luxury offering and lets the Canadian group concentrate on its diamond mines. Yesterday’s s deal reverses a 2004 acquisition which turned Harry Winston, the group that discovered what became Canada’s Diavik diamond [...]
Moss Bros raises profits outlook after strong Christmas trading January 14, 2013 MENSWEAR retailer Moss Bros Group said yesterday it expected full-year results to exceed market expectations, helped by sales during the Christmas period. The company said like-for-like sales during the 24 weeks to 12 January rose 2.7 per cent. The suit specialist, which sells and hires out clothing through its Moss Bros Hire, Moss Bespoke, Moss [...]
CVC and RBS in Samonsite sale January 14, 2013 PRIVATE equity firm CVC Capital Partners and Royal Bank of Scotland have sold a combined $290m (£180m) stake in Hong Kong-listed luggage maker Samsonite International, according to a term sheet of the deal. The 138.3m shares were sold at HK$16.20 each, a 4.9 per cent discount to Samsonite’s Friday’s close of HK$17.04, the terms showed. [...]
BT app targets mobile calls January 14, 2013 BT has launched a challenge to mobile phone operators, launching a smartphone service that allows phone calls over the internet. SmartTalk, which the telecoms firm announced yesterday, allows BT customers to make calls which are then charged to their landline account, as if the calls were from a home phone. But the launch of the [...]
