London & Stamford snaps up property from Lloyds May 10, 2010 LONDON & Stamford Properties has bought 16 distribution properties from a Warner Estate and Lloyds Banking Group joint venture for £208.5m. The Aim-listed property investor, formed in late 2007 to exploit steep discounts carved out during Britain’s recent property slump, bought the portfolio using a combination of existing cash resources and debt provided by the [...]
Gatwick firm eyes second buyout fund May 10, 2010 GATWICK airport owner Global Infrastructure Partners is understood to be preparing to raise a second $5bn (£3.4bn) fund, braving a still-tough market for infrastructure fundraising. GIP, which also owns London City airport, is thought to have held informal discussions with existing and potential investors about its plans and will kick off fundraising in earnest in [...]
Young entrepreneurs are hope for the future May 10, 2010 LAST Friday night, I spent the evening in Hatfield House – one of my favourite UK historical sites as Queen Elizabeth I is my hero – with the top entrepreneurs of the University of Hertfordshire, which was shortlisted for the Times Higher Education “Entrepreneurial University of 2009” award. The university, whose chancellor is the Tory [...]
Moody’s slides after SEC notice May 10, 2010 STOCK in the credit ratings agency Moody’s fell sharply last night following news that the business is being probed by Wall Street watchdog the Securities and Exchange Commission (SEC) for possibly misleading regulators three years ago. Moody’s disclosed in a regulatory filing late on Friday that the SEC had warned in a “Wells notice” that [...]
Fannie Mae asks for another $8.4bn bailout after fresh losses May 10, 2010 AMERICAN mortgage finance giant Fannie Mae has asked the US government for a further $8.4bn (£5.6bn) after announcing more big losses. The company, led by chief executive Mike Williams, said it lost $13.1bn in the first quarter of the year as it continues to suffer the effects of the financial crisis. This compares to a [...]
CITY MOVES | WHO’S SWITCHING JOBS May 10, 2010 Conduit Capital Markets The derivatives and securities dealer has hired ex-3i managing partner Bruce Carnegie-Brown as its new non-executive chairman. Carnegie-Brown has been working for 3i since 2007, latterly as managing partner and chairman of the financial services practice. Prior to that, he was chief executive of Marsh, and spent 18 years at JP Morgan, [...]
BOULTON, CAMPBELL IN BUST UP OF THE YEAR May 10, 2010 IF ANY readers were holed up behind a desk yesterday evening without access to a television, it’s time to indulge yourselves with a quick internet search, pronto. Yesterday’s Sky News coverage of Gordon Brown’s resignation as Prime Minister contained one of the best live TV snippets in years, as the channel’s political editor Adam Boulton [...]
CITY EYE May 10, 2010 The view down across the City from the dizzying heights of the Heron Tower, the tallest building in the Square Mile.
Asian indices will not move at the same pace May 10, 2010 ASIAN indices have not been immune to the Greek crisis and the wave of risk aversion that has been sweeping across the world, despite traders’ relatively bullish attitude towards the region. Major stock indices have all suffered: the Chinese Hang Seng H-Shares index has dropped 10 per cent since the middle of April, while the [...]
DEBT FEARS PROPEL GOLD AND SILVER May 10, 2010 CFD MARKET STRATEGIST, GFT THESE are truly extraordinary times. There is so much affecting financial markets that it’s difficult to know where to start. We’ve seen some odd movements recently, not least the drop in US equities last Thursday. US indices were already down 3 per cent when liquidity suddenly dried up. Bids in thousands [...]
